Course Objectives
By the end of the course, participant will be able to:
- Understand financial and accounting principles, terms, techniques, and best practices
- The tools you need to perform financial evaluations and justify your own project to corporate management
- 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.
- Enhance his understanding of the time value of money and life cycle cost principles.
- Learn how to perform key project analyses including technical, economic, and environmental evaluations.
- 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
- Gain a working knowledge of the various cost estimating methods and how to prepare timely cost estimates that are fit for purpose.
- 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
- Overview
- Models of project development
- Project definition
- Project development
- Project execution and control
- Workshop – Key principles and guidelines for successful projects\
- Technical evaluation analysis
- Key issues in project analysis
- Analysis of project technical and engineering aspects
- Environmental analysis
- Project risk considerations
- Workshop – Technical evaluation of projects
- Economic evaluation analysis
- Objectives of economic evaluation analysis
- Economic (financial) evaluation
- Principles of time value of money and the discount rate
- Methods of ranking investment proposals
- Workshop – economic evaluation of projects
- Business focused facilities
- Business-focused facilities (BFF)
- Life-cycle (total) cost analysis
- Effective life-cycle management tools
- Project cost estimating
- Equipment sizing and costs
- Workshop – cost estimating
- Evaluation of maintenance projects
- Types of maintenance projects
- Concept of component life
- Technical evaluation of maintenance projects
- Management of change
- Workshop – Evaluation of maintenance projects
