Value for Money Assessment (VFMA) practice in Project Management Course
Details
This Value for Money Assessment practice in Project Management training course is designed to provide participants with an understanding of how to assess and optimize the value for money of a project. Value for money (VFM) is an important concept in project management, and it involves balancing the cost of a project with the benefits it delivers.
Participants will learn how to conduct a VFM assessment, including identifying project costs, quantifying project benefits, and calculating the VFM ratio, during the course. They will also learn how to maximize a project's value for money (VFM) by considering alternative project options and weighing the risks and benefits of each.
The course is appropriate for project managers, project coordinators, team leaders, and other project management professionals. It is also appropriate for people who want to learn about VFM and how to apply it to project management.
By the end of the course, participants should be able to conduct a VFM assessment of a project, identify opportunities for optimization, and make informed decisions that balance cost and benefit. This can assist organizations in maximizing the value they receive from their projects, improving their financial performance, and increasing their market competitiveness.
The following professionals can attend this training course:
- Project managers
- Project coordinators
- Team leaders
- Project analysts
- Financial analysts
- Procurement managers
- Business analysts
- Government officials involved in project management
- Consultants involved in project management
- Individuals interested in learning about VFM in project management.
Companies that send their staff for this training course will gain the following benefits:
- Improved project decision-making
- Increased financial performance
- Enhanced competitiveness
- Improved risk management
- Improved project management skills
- Better stakeholder engagement
- Increased project success rate
Professionals attending this training course will gain the following benefits:
- Enhanced understanding of value for money assessment in project management
- Improved decision-making skills related to project optimization
- Enhanced ability to identify project costs and benefits
- Improved risk management skills
- Improved project management skills
- Better stakeholder engagement skills
- Increased employability and career advancement opportunities
The objectives of this training course include the following:
- To provide an understanding of the concept of value for money in project management.
- To introduce the process of conducting a value for money assessment of a project.
- To develop skills in identifying project costs and quantifying project benefits.
- To provide an understanding of how to calculate the value for money ratio.
- To introduce methods for optimizing the value for money of a project.
- To develop skills in evaluating project risks and benefits.
- To improve decision-making skills related to project optimization.
- To enhance stakeholder engagement skills.
- To develop skills in applying value for money assessment to real-world projects.
- To provide participants with the knowledge and skills to enhance their career opportunities in project management.
This collaborative Value for Money Assessment (VFMA) practice in Project Management Course will comprise the following training methods:
- Lectures
- Seminars & Presentations
- Group Discussions
- Assignments
- Case Studies & Functional Exercises
Outline
- Overview of value for money assessment
- Key concepts and definitions
- Benefits of value for money assessment
- Overview of the VFM assessment process
- Identifying project costs
- Quantifying project benefits
- Calculating the VFM ratio
- Methods for optimizing VFM
- Evaluating project risks and benefits
- Techniques for minimizing project costs
- Maximizing project benefits
- Applying VFM assessment to real-world projects
- Case studies and examples
- Best practices and lessons learned
- Engaging with project stakeholders
- Communicating VFM assessment results
- Building stakeholder support
- Opportunities for career development in project management
- Building skills and knowledge
- Certification and accreditation options
Schedules
| No. of Days: | 10 |
Trainingcred has identified itself with a niche market that largely comprises of Government ministries, departments and agencies (MDA’s) and UN agencies, Non-Governmental Organizations, from Africa, Europe, Asia, Middle-East and the Caribbean. We have also served academic institutions, international research organizations, financial institutions and private companies from across the globe.
Our education and training services are aimed helping individuals improve their professional knowledge, competence, skill, and effectiveness and enable the institutions to get the best out of their workforce. This is achieved through conducting high impact professional diploma and certificate courses, short courses, conferences, workshops and seminars.
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