Open to anyone
Light refreshments and snacks will be provided
The classroom number will be available the day of the seminar
According to Project Management Institute’s Pulse of the Profession® report (2015), Capturing the Value of Project Management Through Decision Making, 47% of unsuccessful projects are impacted by poor decision making. The report concluded that when decision making is approached with discipline, 79% more projects meet original goals and business intent, 110% more are completed within budget, and 128% more are completed on schedule. Some of the key executive decisions involve whether or not to invest in a new project or to continue or kill an ongoing one. Wrong decisions will result in wasting of organizational resources, which can otherwise be utilized to generate value for the stakeholders. Decision making must take place based on objective criteria rather than subjective information and personal biases. A plethora of tools are available to develop and analyze financial information that help facilitate rational decisions. This one hour key note presentation introduces you to key principles and tools related to financial decision making in project management.
- Identify the three most important criteria in deciding on what projects to invest in
- Avoid the seven major biases in decision making
- Gain better insight into project opportunities through probabilistic analysis of NPV and cost estimates
- Understand "sunk cost fallacy" and avoid "sunk cost dilemma" in project go/no-go decisions
Presenter: Prasad Kodukula
Dr. Prasad S. Kodukula, PMP, PgMP, is a speaker, coach, author, inventor, and entrepreneur with more than 30 years of professional experience. Prasad has spoken in 45 countries, and his clients include 40 Fortune 100 companies. He is co-founder and CEO of two companies: Kodukula & Associates, Inc., a project management coaching and training company; and NeoChloris, Inc., a clean tech startup. Prasad is Adjunct Faculty at the University of Chicago and Illinois Institute of Technology. He was recognized twice by the Project Management Institute as “Best of the Best in Project Management” with 2016 Eric Jenett Project Management Award of Excellence and 2010 Distinguished Contribution Award. He aslo received prestigious awards from the USEPA and the States of Kansas and Illinois for outstanding achievements in education, training, and technology innovation. Prasad is a co-author or contributing author of eight books and more than 40 articles.