The Project Management Workshop: A Trainer's Guide by James Taylor

By James Taylor

Delivering the data and instruments essential to layout and carry potent, on-target company education classes on undertaking administration, The undertaking administration Workshop offers running shoes with targeted instructions on how one can offer managers with the talents had to deal with their initiatives. contains lecture notes, examples, difficulties, worksheets, overheads, and extra. advised for either expert running shoes desiring a crash direction in undertaking administration and skilled venture managers wanting particular education guideline.

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Prepare participants to be change agents within their organizational groups. Summa y It is very important for project managers to know how to use various selection techniques. Most companies use one or more of the techniques covered in this chapter. However, many people do not understand that if used alone, some of the techniques may eliminate what otherwise would be excellent projects from a financial viewpoint. Each technique has its uses, and each will provide useful information as long as the limitations are clearly understood.

Also, ask participants if they think their business unit of the company would consider a five-year payback period acceptable. - - -- - - - Training Tip: Ask the participants often if they are following the explanation and if they have questions. - The Project Management Workshop 136 Return on Investment (ROI) Return on Investment (ROI) Return on Investment (ROO, another very commonly used selection technique, is a financial measure of how much profit is likely from invested costs. How used: Average profits are divided by the average costs expected over the period of the project's life.

The advantages of the payback technique are that it is fast and easy. It is a quick way to assess future cash-flow projections. But the disadvantages are sufficient to warrant using the technique only as a quick assessment, not as the basis of business decisions. Some companies use payback as a measure of risk. For instance, they assume that a shorter payback period is less risky than a longer one. This logic is flawed because the technique focuses on the short term, that is, it considers Module 2: The Project Selection Phase only what happens up to the point of breaking even.

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