Duration
3 days
Participants do not need to have strong project management and six sigma knowledge and experience to appreciate this course
Overview
This course is intended for managers and executives who wish to acquire a working knowledge of evaluating Return-On-Investment (ROI) of a project – at its initiation, progression, and closing.
One often misunderstood idea is thinking that Engineering, IT or non-IT projects are evaluated based only on the financial Return-On Investment (ROI), or profit and revenue. Unfortunately this is not so because a correct perspective is to think of project ROI permeates both financial and non-financial areas of a project. Actually, a project ROI has to be assessed at the project-level as well as the enterprise-level. Tangible and intangible benefits evaluated from ROI can be affected by things like financial constraints, project cash flows and timing of disbursements, project organization’s project management maturity, HR competencies, business environment, and so on.
But the reality is ROI benefits are both monetary and non-monetary - In short, utilizing the trainer’s Six Systems Approach covering the project environment, business climate, financial system, HR system, technical system and the process system, coupled with Six Sigma Methodology attempt to qualify if a project is both business-worthy and non-monetary worthy from the production and strategic intents of a project (e.g. Does the project open doors for other opportunities enjoyed by the project organization)?
This course highlights and values the growth & development of their people and process; they ask better questions, get better data, make better decisions, and lead higher performing teams to achieve impressive and sustaining ROI benefits.
What You Will Learn
At the end of the course, participants will be able to:
- Evaluating (qualitative and quantitative) the ROI of a project at its inception, during execution, and at closeout.
- Financial assessment.
- Non-financial assessment (e.g. asking questions like do we have the procedures and processes in place to plan, execute, monitor and control the project, do we have the HR competencies demanded from the project, etc).
- Changes in ROI contributed from risk planning and executing risk responses.
- Changes in ROI contributed from quality planning and executing quality assurance and quality control.
- Changes in ROI contributed from project changes.
- Exercising systems thinking how projects affect the enterprise system (do they create imbalances or reinforcing loops in the system)?
- Have understanding of hearing the voice of your customer, and the critical factors driving successful ROI implementation of projects.
Course Content
- The PMI Five Process Groups of Projects And Nine Areas of Knowledge
- Managing Stakeholders’ Expectations And Project Management Processes
- Systems Thinking
- Project selection: financial and non-financial, single and multiple projects with multiple priorities (Payback Period, ROI, and NPV)
- Project Risk Management
- Project Quality Management
- The costs of poor quality
- Taking corrective actions and changes to project
- Project Control & Reporting using Earned Value Method
- Six Sigma’s focus on the customer, and on the project ROI
- Project Closure
Training Approach
The training uses practical exercises that take individuals outside their comfort zones. By giving the participants help and guidance during the process, confidence and skills are strengthened. We make the sessions challenging and practical through the use of role-play, experiential learning and group exercises. Participants will quickly discover their strengths and weaknesses in communicating with others. Moreover, this interaction makes classes enjoyable and motivational.
The tempo of the training is light-hearted and fast-paced. Our experience suggests that this makes people actually look forward to attending our training sessions and reinforces the motivational effects. Peer group pressure, structure and relaxed atmosphere are the key elements to the success of our courses.
Methodology
Presentation, games, group exercises, discussions, and case studies.
Who Can Benefit
Managers and executives who are directly involved in project interested in experiencing the fundamental principles, concepts and terminology of Project ROI will benefit. This course is also suitable to IT, technical, non-technical industries and service sectors; e.g. banks, event management, insurance, research, customer management, operations management, and system-methods studies; suitable to professionals who want to know more about calculating project ROI, whether done internally or externally through customers engaged in this initiative.
Programme scope, delivery arrangements and suitability are confirmed during enquiry.