FINDSEM1 - Financial Decision Making in Project Management

Course Description

According to Project Management Institute’s Pulse of the Profession® report (2015), "Capturing the Value of Project Management Through Decision Making," 47% of unsuccessful projects are impacted by poor decision making. The report concluded that when decision making is approached with discipline, 79% more projects meet original goals and business intent, 110% more are completed within budget, and 128% more are completed on schedule. Some of the key executive decisions involve whether or not to invest in a new project or to continue or kill an ongoing one. Wrong decisions will result in wasting of organizational resources, which can otherwise be utilized to generate value for the stakeholders. Decision making must take place based on objective criteria rather than subjective information and personal biases. A plethora of tools are available to develop and analyze financial information that help facilitate rational decisions. This one-day workshop offers such tools. You will first learn how project finance is linked to organization's bottom line. You will understand how to build a business case for a project to be considered for investment. The other key topics discussed in this workshop include: discounted cash flow analysis; various financial metrics such as net present value, internal rate of return, and payback period; deterministic vs. probabilistic models; and effective strategies in decision making in project management.  

Notes

This is part one of a two-part workshop series. Completion of both parts of this workshop series is equivalent to the completion of one elective course in the Financial Decision Making certificate program.