Ref No: PM 103 Program Name: Advanced Project and Construction Management

Starts Ends Venue Fees Join Now
16 Jan 2023 20 Jan 2023 Dubai, UAE $ 4,750Registration Closed
09 Oct 2023 13 Oct 2023 Dubai, UAE $ 4,750Registration Closed
15 Jan 2024 19 Jan 2024 Dubai, UAE $ 4,750Registration Closed
22 Apr 2024 26 Apr 2024 Singapore, SN $ 5,750
30 Sep 2024 04 Oct 2024 Kigali, RW $ 5,250
09 Dec 2024 13 Dec 2024 Dubai, UAE $ 4,750


Course Overview

Much time and effort are spent to ensure the economic feasibility and technical viability of large new capital projects in the construction industry. These investments provide the means to achieve the long-term strategic objectives of organisations. Accordingly, it is imperative to pay careful attention to potential financial, economic and technical risks during the initial conceptual design and feasibility studies.

Additionally, Project Managers continue to face mounting challenges in the successful delivery of construction projects. Limited resources and budgets place strict demands on project delivery time, cost and quality. Knowledgeable project managers therefore recognize that a major ingredient of project success is the ability to monitor and control the project effectively and to actively manage progress and costs against the project baseline.

Learning Objectives

This 5-day seminar will provide delegates with a proven set of methods, processes, tools and techniques to address these issues systematically by integrating economic feasibility, project planning and control, and risk analysis strategies to ensure project success. The following topics are addressed in detail:

  • Integrating scope, time, resources and cost management
  • Developing project network diagrams for CPM to assess schedule risks
  • Maintaining continuous project performance and delivery control
  • Forecasting and controlling project performance through earned value techniques
  • Accelerating the schedule when required by adverse circumstances
  • Using qualitative and quantitative methods to assess the exposure of the project to technical and economic risks
  • Applying an integrated and dynamic risk mitigation process to quantify and minimise economic risks
  • Understanding and applying the basic tools used to perform economic appraisals of capital projects
  • Integrating risk analysis with feasibility studies and cash flow forecasts to predict and manage various scenarios

 Target Audience

This course is designed for project management and construction professionals, project planners, cost engineers and operations managers, risk management professionals, senior project control and other business services professionals

 Training Methodology

Delegates will develop advanced project management skills through formal and interactive learning methods. The program includes team projects, applicable case studies, group discussions and critical analyses of video material based on actual large construction projects.

The seminar does not assume prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamentals to more advanced concepts.


Session One – Corporate Strategy and Organizational Projects

 Corporate Strategy and Organizational Projects

  • Project Alignment with Strategy
    • The Strategic Management Process
    • Environmental Analysis and Portfolio Development
  • Characteristics of a Project
    • Project Development Life Cycle
  • Work Breakdown Structure


Case Study: Extreme Engineering Project – The Hong Kong Airport

Session Two – Project Schedule Planning and CPM

 Precedence Network Diagramming

  • Critical Path Analysis
    • Early and Late Start & Finish
    • Dependencies & Constraints
    • Project Float Analysis
    • Leads and Lags
  • Job Logic Relationship Chart
    • Activity Duration Estimation
  • Forward & Backward Passes
  • Determining Total & Free Float

Application: Estimating Project Duration

Session Three – Project Schedule Acceleration

 Circumstances Requiring Project Acceleration

  • Options for Accelerating the Schedule
  • Developing a Crash Cost Table
  • Acceleration in Practice
    • The Optimal Acceleration Point
    • Gantt Chart for Accelerated Schedule
    • Network Activity Risk Profiles

Session Four – Project Execution, Management and Control

  • Earned Value Control Process
    • Progress Control Charts – Trend Analysis
    • Schedule and Cost Variance Forecasting
      • Schedule Variance (SV)
      • Cost Variance (CV)
      • Schedule Performance Index (SPI)
      • SPI Run Chart
      • Cost Performance Index (CPI)
      • CPI Run Chart
    • Estimated Cost at Completion
    • Estimated Duration at Completion
    • Progress Tracking and Monitoring

 Section FiveProject Risk and Analysis and Mitigation Strategies

 Risk Management Process and Model

    • Identifying Potential Risk Events
  • Risk Scenario Description
    • Identifying Triggers, Indicators and Receptors
  • Qualitative and Semi-Quantitative Risk Analysis Techniques
    • Risk Matrices and Risk Ranking
    • Progressive Risk Management Plan Development
  • Detailed Risk Quantification and Prioritisation
  • Expected Monetary Value Concepts
    • Risk Quantification and Expected Monetary Value
  • Risk Strategy Development

 Section Six Basic Tools for Economic Appraisal

  • Simple Project Payback Period
  • Time Value of Money
  • Estimating Interest
  • Simple and Compound Interest
  • Time Equivalence
  • Economic Computations

Section Seven – Discounted Cash Flow Analysis

  • Estimating the Cost of Capital for a Project
    • The Cost of Debt Capital
    • The Cost of Equity Capital
    • Weighted Average Cost of Capital (WACC)
    • Financial Gearing (Structuring)
  • Appraisal Methods
    • Net Present Value Analysis (NPV)
    • Internal Rate of Return Analysis (IRR)
    • Comparing NPV and IRR Analyses
    • Interpolation and Non-linearity

Section Eight- Discounted Cash Flow Analysis

  • Accounting Rate of Return
  • IRR for a Single Project
    • IRR for a Single Project Using Present Worth
    • IRR for a Single Project Using Annual Worth
    • Projects with Unequal Lives
  • Incremental Analysis
    • Mutually Exclusive Projects
  • Using Rate of Return Analysis for Ranking Multiple, Mutually Exclusive Projects
  • Using IRR to Analyse Options with Different Lives

Section Nine- Project Scenario Planning – Application

  • Cash flow projections – Tunnel Case Study
    • Base Case Scenario
    • Best Case Scenario
    • Worst Case Scenario
  • Risk Profile EMV Calculation before Mitigation
  • Identification of Risk Triggers & Probability
    • Plotting the Event Probability
  • Identification of Risk Receptors & Impact
    • Plotting the Financial Impact
  • Combined EMV Risk Profile before Mitigation
  • Developing Probability Mitigation Strategies
  • Developing Impact Mitigation Strategies
    • Re-plotting the Projected Risk Profile after Mitigation
  • Examining the J-Curve to Derive the Most Economic Mitigation Point
  • Final Risk EMV and Project Feasibility Calculations after Mitigation


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