Understanding Project Economics and Politics: (Handling Complex Projects and Reporting Relationships)

Program Overview:

A successful project manager is one who is proficient in using a variety of approaches during periods of
high pressure to ensure that the team remains motivated and engaged, ultimately driving the project
forward. Successful managers understand that balancing project economics and project politics are
essentials to project success. This course will provide participants with project economics training and
political leadership skills needed to excel in both key facets of project management.

For Whom:
This program is designed for senior corporate managers, operation managers, experienced project managers, and managers of project management offices (PMOs)

Learning Objectives:
At the end of this program, participants will be able to;

Relate all projects to the financial, strategic, and operational goals of all stakeholders

Select the right project using the advanced project selection model

Understand and use organizational politics to ensure your projects are supported by senior management, clients, and stakeholders

Control project risk throughout the phases of the project life cycle

Respond early to the impact of project changes

Communicate effectively with team members, including ongoing performance feedback

Use action planning to keep your project on track

Ensure your projects are adopted by management by showing a positive impact on business profits

Course Outline:
Day 1: Understanding the Underlying Political and Economics Drivers for Business Success

Introduction to business, economic and strategic requirements

Managing expectations: Management, Sponsors, and Stakeholders’ expectations

Developing a framework for improved project control

Day 2: Project Evaluation and Selection

Project selection and planning fundamentals

The different types of project selection processes

Creating a sound business case

Day 3: Group Discussion on Project Estimation

Sharing of current project estimating problems

Analysis under high uncertainty

Chief sources of uncertainty and risk

 What you can do about uncertainty and risk

Day 4: The Executive / Management Role in Achieving a
Positive Outcome

Creating project proposals
o Four distinct issues and key elements

Managing through the project life cycle
o The six performance domains
o Controlling the project at each
domain level

Project integration
o The project manager’s job

Day 5: Managing Project Politics

The “politician” politics in action
Players to contend with
Being a better politician
Common political pitfalls  A guide to action

 Training Methodology
Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning