Gatekeeping for Capital Project Governance
Download Brochure
"Gatekeeping for Capital Project Governance" is a 1.5-day seminar discussing the key information needed by those who are the gatekeepers of their capital investment process. A “gated” project process identifies distinct points throughout the project’s life when decisions are made to shape, define, and execute the capital investment so it best meets business needs. The gatekeeper is responsible for making decisions at the end of each gate. The gatekeeper must interact with all functions involved in the capital
project process to align project objectives with business needs. The Gatekeepers seminar provides a set of tools to aid in the complex and often difficult decision-making process. IPA research has shown that, effectively implemented and resourced, the gated process can improve cost performance by 10 percent or more. This program is registered with the Project Management Institute (PMI), allowing attendees to claim 12 Professional Development Units (PDUs) upon completion of the course.
The seminar will cover (1) what information is needed at each stage, (2) the questions that need to be asked to ensure the project is ready to proceed to the next stage, (3) the competencies needed to staff this function, and (4) elements of successful gated processes.
In this time of scarce capital, it is important that only projects which best support the business strategy be authorized. IPA research has identified a set of information that must be known at each gate to prevent unnecessary capital from being spent. The seminar will integrate research studies conducted by IPA in areas such as the following:
- Implementing work processes
- The link between project outcomes and improved business value
- Project resources
- Contracting strategy and its effect on projects
The materials presented are based on a decade of work with capital project organizations in establishing and analyzing activities in gated work processes. This program also incorporates learnings from IPA’s research into team effectiveness, project process policies and procedures, project management, and organizational effectiveness.
Seminar Content and Organization
The material in this program consists of eight separate modules. Each module covers a specific topic, with material being presented in a variety of ways. Important research findings will be presented through lectures with supporting presentation material and readings. Case studies and examples will form the basis of active class discussions. Participants will be able to form implementation plans to translate materials and learnings into action items they can use to improve their capital project processes. The modules for the Gatekeepers program are the following:
Module 1: Governance
Introduces governance structures and provides an overview of the capital project life cycle.
Module 2: Establishing an Effective Gated Process
In this module, an overview of the gated process is provided and the key elements of each project stage are discussed. Other covered topics include staffing the gatekeeper function and the link between using a gated process and project outcomes.
Module 3: Cost and Schedule
Capital cost is the most contentious single issue between business and engineering. Schedule is the second most contentious issue. The trade-off between cost and schedule is the third most contentious issue. The goal of this module is explore these issues to reduce the potential for future misunderstandings.
Module 4: FEL 1 Gate: Evaluating Business Needs
In this module, business planning phase deliverables and key questions are discussed. Effective portfolio management practices are shared and mitigating cash flow constraint issues are also presented.
Module 5: FEL 2 Gate: Developing Scope to Meet Business Needs
Module 5 is a presentation on shaping project scope and the scope development stage deliverables. Additionally, the translation of business objectives into project objectives and the importance of setting competitive targets are included.
Module 6: FEL 3 Gate: Authorizing the Right Project
The final portion of the front-end loading section covers project definition stage deliverables and key questions. Major changes may occur during FEL 3 and here the effects of and strategies to manage these changes are presented. Finally, maintaining value through execution is also covered.
Module 7: Contracting Strategies
The main topic of discussion in this final module is how to select the right contracting strategy.
Module 8: How to do Gatekeeping
Every project must go through a gatekeeping process to answer the question, " Is the project ready to move on into the next phase?" The final module details the important steps in the gatekeeping process, defines the gatekeeper's roles and responsibilities, and illustrates conflicts of interest that may arise for the gatekeeper and how they can affect decision-making.
Course Benefits
The gatekeeper is a relatively new role in business. Gatekeepers play an important part in the decision-making processes throughout the life of a capital project. This program is intended to improve the decision-making capabilities of gatekeepers. The program will provide gatekeepers with a set of questions to ask to determine if a project should proceed or be stopped. It will also provide the fundamentals to understand if Best Practices have truly been implemented and deliverables have been thoroughly completed. The seminar will identify the attributes of the ideal gatekeeper and how to recruit and select gatekeepers. Finally, and most important, the seminar will allow attendees to begin to develop an implementation plan for making improvements in their work processes.
Target Audience
This seminar is intended for representatives from owner companies who have responsibility for the decisions made at the end of each project stage. It is also intended for those moving into decision-making roles.
Gated work processes provide an organized way to track tasks and activities, coordinate and synchronize multifunctional activities, and obtain buy-in across all levels and from all functions. Therefore, the program has value to other key decision makers in the capital process, including business managers, operations managers, project managers, project sponsors, and members of project steering teams.
Claiming PDUs
Gatekeeping for Capital Project Governance is officially registered with PMI, which allows attendees to easily claim 12 PDUs upon completion of the course. Simply visit the PMI Continuing Certification Requirements site and submit the PDU Activity Reporting Form (Provider Number: 2767 / Activity Number: XXXGTK). For those claiming PDUs through other education organizations, please note that the duration of this course is 12 hours.
Gatekeeping for Capital Project Governance
Schedule
|
We're sorry, but no programs are currently scheduled at this time.
However, we may be planning future seminars that meet your criteria. Contact us with details of what you are looking for and let us know if you would like to receive information about delivering the course you searched for in-house. |