Course Overview

What is Economic and Technical Evaluation of Projects? When an organization initiates a project, they have some economical and technical criteria attached to meet the strategic objective of the organization.

Economic Evaluation is critical as when an organization makes any investment, it is done keeping in mind that maximum return in investment is received. Technical Evaluation makes sure that the project meets the requirement for which it is initiated.

This Zoe training course will enhance your knowledge about Economical and Technical knowledge related to projects. This course is designed to cover all the aspects of projects and project management beginning from initiation to close out of the project.

Course Objectives

The key objective of this Economic and Technical Evaluation of Projects Training course is to —

• Introduce the concepts of Economic and Technical related to projects
• Understand the types of the project life cycle and the different processes involved in the project
• Acquire the knowledge areas associated with a project and their integration
• Calculation of Project cost and its management throughout the project life cycle
• Work on methods to understand how the price is calculated for a project and how is it different than the cost of the projects
• Various types of Contracts and their impact on the cost
• Obtain the knowledge of monitoring the actual cost of the project
• Clarify the concepts of Earned Value analysis
• Methods of Forecasting the project cost
• Work on the different challenges to make sure that the project has a balance between the triple constrains and is completed in time and within budget
• Emphasise on the role and stakeholders in the projects and meeting their requirement which is critical for the project success
• The best approach of communication to be carried out by the project team
• Exploring the diverse ways of identifying Risk and analysing them and managing the same

Training Methodology

Zoe Talent Solutions appoints incredibly qualified trainers from related domains to deliver the training with the help of audio-visual presentations. Zoe Talent Solutions places great stress on customised training solutions, the course content is thoroughly reviewed by the trainers before each session to form relevance to the training audience.

Trainee participation by group activities, assignments, role-plays and case study discussions form an integral part of the training program. Experiential learning is additionally given equal importance within the format of training.

Zoe Talent Solutions follows the Do–Review–Learn–Apply Model.

Organisational Benefits

After the project team undergoes this training course, organisations will derive the following benefits:

• A better understanding of the Economic and Technical Aspects of the projects
• The formulation of the project cost will be transparent, and the project team will also be involved in the same
• Project Finance will be controlled more professionally, and the cash flow will be better managed
• Adherence to the project management plan and on all the components related to it
• Enhanced and effective cost management which would increase the better management of finance
• Structured communication between different parties at all the stages of the project about the Project finances

Personal Benefits

Individuals who would undergo this Economic and Technical Evaluation of Projects training would gain the following knowledge:

• Understanding the strategic importance of the project to the organization
• A clear understanding of how the Project Estimate is prepared
• Project cost allocated at all the stages of the project life cycle
• Improved consideration to details of the costing and scheduling of the project
• Will be competent to manage the stakeholders better who are your projects
• A better understanding of different types of contracts
• Amplified knowledge about Earned value analysis and forecasting Cost
• Superior skillset and capabilities to identify, analyse and manage risks in the project
• Better skills while closing out of Project

Who Should Attend?

• Any person who is a part of a project at any stage
• The senior Project Team member who wants to learn about Project’s in more detail

Course Outline

Economic and Technical Evaluation of Projects Course covers the following topics:

Module 1 – Introduction

• Introduction to Project
• Project Life cycle
• Difference between Operations and Projects
• Importance of Project in the Strategic objective of the organization

Module 2 – Cost and Cost Elements

• What does cost constitute?
• Cost categories
• Direct and Indirect Cost
• Fixed and Variable Cost
• Cost Accounting
• Cost Trending
• Life cycle costing

Module 3 – Pricing & Costing

• Tools for Pricing
• Pricing Strategy
• Return on investments
• Economic Cost

Module 4 – Cost Categories

• Material
• Labour
• Engineering Designs
• Tools, Machinery and Equipment

Module 5 – Economic Cost

• Types of Cost
• Changes in cost
• Taxes
• Depreciation and Depletion
• Economic Analysis Techniques

Module 6 – Cost Estimation

• Different methods of Cost estimation
• Estimation Accuracy
• Structuring the Estimate
• Managing and Controlling resources

Module 7 – Cost Calculation for a Project

• Preparing Budget
• Controlling Cost
• Earned Value Analysis

Module 8– Contracts

• Different types of Contracts
• Advantages and disadvantages of contracts

Module 9 – Economic Analysis

• Financial and Cash Flow Analysis
• Investment Decision Making