Commercial Awareness -1 Day
- Commercial Awareness Training focuses on project attitude and commercial implications.
- Brainstorming session transforms Project Managers into commercial individuals.
- Estimating lecture defines project baseline and planning sequence.
- Cost, profit, price lecture emphasizes cash flow importance and appraisal methods.
- Risk Management lecture uses Project Management Model for dynamic risk analysis.
Overview
The Commercial Awareness Training course aims to equip individuals with the skills needed to understand the commercial aspects of project management. Through lectures, exercises, and case studies, participants will learn about estimating, cost analysis, risk management, and different contract types. The course is designed to help Project Managers, Contract Directors, and Sub-Contract Administrators develop a commercial mindset. The training is offered in various locations in the UK and internationally, with a duration of one day.
Who should attend
Project Managers, Contract Directors, Sub-Contract Administrators
Course Content
Commercial Awareness Training
Course Oultine
INTRODUCTIONS
1. SETTING THE SCENE
A video of a real project illustrating the attitude of the various parties involved in a project and the commercial implications.
2. THE COMMERCIAL MANAGER (Brainstorming Session)
Brainstorming session to identify all the issues that need to be addressed in order to turn a Project Manager / Contract Director or Sub-Contract Administrator into a commercial individual.
3. ESTIMATING (Lecture)
Defining the base line for the project.
• Approaches to Estimating
• Elements of Estimating
• Estimate planning sequence
• Types of Estimate
• Make-up of an Estimate
• Contingencies
4. COST / PROFIT / PRICE (Lecture & Exercise)
– Cost / Benefit analysis.
– Identify the importance of cash flow in the appraisal of projects.
– Simple appraisal methods – Payback and Average Rate of Return.
– More advanced methods for evaluating the payment terms in a bid.
– Net Present Value and Internal Rate of Return.
‘Which would you Pick’ 1 (exercise).
5. RISK MANAGEMENT (Lecture)
The use of the Project Management Model as a dynamic and interactive model of Project Risk Management. The Principles of Risk Identification, The Risk Register, Risk Analysis and Response.
6. CONTRACT TYPES (Lecture & Exercises)
How the different types of contract determine the allocation of risk and the degree of effort for project control.
– The division of work and the performance of work.
– The advantages and disadvantages of the different forms of contract.
Some mini case studies. The delegates will decide the best way to allocate the risks and set up the contracting relationship between the parties involved. The delegates will decide on the optimum contracting arrangement from both a Buyers (Client) and Sellers (Contractors) perspective.
Contract Awareness Training Scotland, Inverness, Aberdeen, Glasgow, Edinburgh, Dunfermline and other sites throughout the UK including onsite closed company courses are available.
Contract Awareness Training Saudi Arabia, Bahrain, Kuwait, Qatar, Abu Dhabi, Dubai, India, Ghana and Nigeria is also available.
