Module 1 - Project Frameworks, Work Breakdown Structures & Critical Path
Day One will highlight the importance of aligning projects with corporate strategy and objectives and will cover the fundamentals of project planning, scheduling and Critical Path analysis.
Key Topics
- Corporate Strategy and Organizational Projects
- Setting the Stage for Project Alignment with Strategy
- The Strategic Management Process
- Environmental Analysis and Portfolio Development
- Project Classification & Characteristics
- Project Development Life Cycle
- The Triple Constraint
- Scope Planning
- Work Breakdown Structures (WBS)
- Work Packages
- Statement of Work (SOW) – Technical Baseline
- Scope Execution Plan
- Precedence Network Diagramming
- Job Logic Relationship Chart
- Critical Path Analysis
- Project Float/Slack Analysis
- Lead and Lag Scheduling
Module 2 - Monitoring Project Progress and Cost
Day Two will cover the estimation of project costs based on the identified activities and allocated resources. This provides the basis for Earned Value Management a technique used to measure progress and costs against the contractual baseline in order to analyse deviations and make accurate projections of final cost and completion dates.
Key Topics
- Bid Documents Development
- Technical Scope & Quantity Survey
- Summaries for Bid Items
- Project Overhead & Recap Sheet
- Resource Unit and Rates
- Unit Price Schedule
- Project Resource Table & Budget
- Project Cost Baseline Management
- Project Management Reporting
- Earned Value Control Process
- Progress Control Charts – Trend Analysis
- Schedule and Cost Variance Forecasting
- Schedule Variance (SV)
- Cost Variance (CV)
- Schedule Performance Index (SPI)
- SPI Run Chart
- Cost Performance Index (CPI)
- CPI Run Chart
- Estimated Cost at Completion
- Estimated Duration of Completion
- Progress Tracking and Monitoring
Module 3 - Aligning the Contract Type with Cost and Progress Monitoring
Day Three will cover the range of contractual arrangement typically applied to project management activities. This will enable delegates to decide on the most appropriate type of contract for the various elements of the project, and provides the basis for project progress and cost monitoring.
Key Topics
- The Pricing Arrangement
- Costs to Provide Engineering Services
- Salary Costs
- Payroll Burden
- Other Direct Costs
- General Overhead
- Salary Cost with Multiplier
- Fixed Price Compensation
- Firm Fixed Price
- Fixed Price with Economic Adjustment
- Incentive Compensation
- Fixed Price Incentive
- Cost Plus Incentive
- Cost-Plus Compensation
- Cost Sharing
- Cost Reimbursement
- Cost Plus Award Fee
- Cost Plus Fixed Fee
Module 4 - Project Risk Management Planning and Mitigation
Day Four will cover the fundamental principles of Project Risk Management and discuss various methods used for qualitative and semi-quantitative risk analysis.
Key Topics
- Overview of the Risk Management Process
- Risk Management Model
- Establish risk context
- Risk Context and Risk Types
- Typical Project Risk contexts
- Risk identification & Risk Characteristics
- Descriptions of Likelihood
- Descriptions of Consequence
- Risk Mitigation Strategies
- Risk Scenario Description
- Triggers and Indicators
- Receptors and Stakeholders
- Impact or Consequences
- Identified Risk Receptors and Impact
- Most likely monetary impact
- Plotting the probability and impact
- Expected Monetary Value (EMV)
- Risk Quantification and EMV
- Scenario Planning
- Best case scenario
- Base case scenario
- Worst case scenario
- Decisions Under Conditions of Uncertainty
- Risk mitigation costs
- Optimal point on j-curve
Module 5 - Project Risk Scenario Planning & Mitigation
Day Five will cover the more advanced application of Risk Scenario Planning to project cash flows based on three-point scenario analyses of risk impact projections.
Key Topics
- Cash flow projections – Tunnel Case Study
- Base Case Scenario
- Best Case Scenario
- Worst Case Scenario
- Risk Profile EMV Calculation before Mitigation
- Identification of Risk Triggers & Probability
- Plotting the Event Probability
- Identification of Risk Receptors & Impact
- Plotting the Financial Impact
- Combined EMV Risk Profile before Mitigation
- Developing Probability Mitigation Strategies
- Developing Impact Mitigation Strategies
- Replotting the Projected Risk Profile after Mitigation
- Examining the J-Curve to Derive the Most Economic Mitigation Point
- Final Risk EMV and Project Feasibility Calculations after Mitigation
CM17
