Course Methodology

The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies, and group exercises to apply knowledge acquired throughout the course.

Course Objectives

By the end of the course, participants will be able to:

• Explain the principles of good decision making
• Use data to make informed and better decisions
• Implement risk-based decision making techniques
• Develop essential financial literacy skills
• Use tools to implement successful decisions

Target Audience

Managers, department heads, and business professionals who are involved in decision making, planning, and developing strategies for their own departments as well as the organization.

Target Competencies

• Decision making
• Risk management
• Risk assessment​
• Evaluation
• Budgeting
• Analytical thinking
• Financial decision making

The Principles of Decision Making

• Decision-making assessment
• The standard decision-making model
• The decision-making spectrum
• Townsend’s rules
• The RAPID model

Using Data for Better and Informed Decisions

• Lewin’s force field analysis of support and opposition
• Scenario analysis and charting possible futures
• Case study
• Mapping stakeholders’ reactions
• Dealing with the politics of decisions

Risk-Based Decision Making

• Risk impact/probability chart
• Characteristics of the risk/impact probability chart
• Decision tree analysis
• Decision tree analysis implementation steps
• Application exercises

Financial Literacy for Decision Makers

• Capital budgeting and cost of capital
• Accounting Rate of Return (ARR)
• Payback Period (PP)
• Net Present Value (NPV)
• Internal Rate of Return (IRR)

Implementing Your Decisions Successfully

• Round’s Trap model
• How to use it
• Shewhart’s PDCA model
• How to use it
• Application exercise
• Lessons learned