Course Objectives

By the end of the course, participant will be able to:

1. Understand financial and accounting principles, terms, techniques, and best practices
2. The tools you need to perform financial evaluations and justify your own project to corporate management
3. Understand the technical aspects that should be considered in technical evaluations of projects to ensure their technical viability, mechanical integrity and compliance with applicable regulations, codes, and standards.
4. Enhance his understanding of the time value of money and life cycle cost principles.
5. Learn how to perform key project analyses including technical, economic, and environmental evaluations.
6. Evaluate the economic and technical impacts of alternative maintenance strategies and methods on maintenance projects and to select the optimum alternative for the specific application while complying with regulatory requirements
7. Gain a working knowledge of the various cost estimating methods and how to prepare timely cost estimates that are fit for purpose.
8. Enhance his competence and productivity thereby improving his   performance level and making additional value added contributions to their organizations.

Course Outline:

• Project initiation and development

1. Overview
2. Models of project development
3. Project definition
4. Project development
5. Project execution and control
6. Workshop – Key principles and guidelines for successful projects\

• Technical evaluation analysis

1. Key issues in project analysis
2. Analysis of project technical and engineering aspects 
3. Environmental analysis
4. Project risk considerations
5. Workshop – Technical evaluation of projects

• Economic evaluation analysis

1. Objectives of economic evaluation analysis
2. Economic (financial) evaluation
3. Principles of time value of money and the discount rate
4. Methods of ranking investment proposals
5. Workshop – economic evaluation of projects

• Business focused facilities

1. Business-focused facilities (BFF)
2. Life-cycle (total) cost analysis
3. Effective life-cycle management tools
4. Project cost estimating
5. Equipment sizing and costs
6. Workshop – cost estimating

• Evaluation of maintenance projects

1. Types of maintenance projects
2. Concept of component life
3. Technical evaluation of maintenance projects
4. Management of change
5. Workshop – Evaluation of maintenance projects