Decision Analysis (DA) Training for Downstream and Chemical Installations - DAD

Decision Analysis (DA) Training for Downstream and Chemicals provides an interactive three-day workshop designed for groups evaluating major financial investments, alternative business strategies, key projects or complex decisions aimed at creating business value in the refining and chemicals industries.

The workshop is designed to introduce industry best practices in decision-making, with attention to resolving cross-functional ambiguities and dealing directly with the major uncertainties and risks that occur in this industry. The course will provide you with the hands-on training needed to create a common language and a working understanding of the process toward enabling superior business decisions.

This course is based on book "Introduction to Decision Analysis" by David C. Skinner and can be delivered either face to face or virtual.

Target Audience

This training is designed for individuals and teams desiring a working knowledge and understanding of this best practice approach to decision situations. This will include project team participants, key knowledge resource experts and decision makers who regularly review project decisions. The goal is to have knowledgeable participants to be able to work much more effectively with experienced process facilitators, thus enabling a focus on content and creativity in the process.

The recommended audience for this workshop includes:

• Members of Decision Teams analyzing investments, projects, or strategic alternatives
• Project Managers
• Business Managers
• Planning & Economics Engineers
• Portfolio Managers of strategy areas
• Technical experts who will provide input for the analysis uncertainties
• Marketing personnel who will provide commercial input for the decision

You Will Learn

Participants will learn how to:

• Identify and avoid the most common ways that decisions fail
• Understand how the Decision Analysis approach creates business value
• Apply the behavioral aspects of the process and assure their effectiveness
• Define the different roles and responsibilities of each project participant
• Clarify the role and responsibilities of decision makers at each stage
• Align the objectives and the strategic situation with Decision Maker(s)
• Develop a broad range of creative alternatives for each decision situation
• Prepare a financial model to evaluate alternative solutions
• Assess the financial aspects of cost of capital, cash flow, project risk and value creation
• Apply the process to simpler decisions • Create valuable insights from the analysis techniques to reach agreement
• Prepare a communications plan and assure implementation of a decision Course Content
• Review Traditional Decision processes
• Conduct Investor Exercise to demonstrate Decision Analysis principles
• Review the Situation Analysis and Options Development Phases for a Refinery Case Study
• Review the options to conduct the evaluation, driven by the level of complexity and uncertainty
• Review the tools for the Full Stochastic evaluation approach
• Review the Full Stochastic methodology to the Refinery Case Study
• Review DA Scalability approach and apply tools for a small project example
• Apply the DA process and tools to a Cogeneration Capital Project Case Study
• Review the financial modeling techniques and tools used in the Evaluation Phase
• Review the Framing techniques and tools used in the Situation Analysis and Options Development Phases

Course Content

• Review Traditional Decision processes
• Conduct Investor Exercise to demonstrate Decision Analysis principles
• Review the Situation Analysis and Options Development Phases for a Refinery Case Study
• Review the options to conduct the evaluation, driven by the level of complexity and uncertainty
• Review the tools for the Full Stochastic evaluation approach
• Review the Full Stochastic methodology to the Refinery Case Study
• Review DA Scalability approach and apply tools for a small project example
• Apply the DA process and tools to a Cogeneration Capital Project Case Study
• Review the financial modeling techniques and tools used in the Evaluation Phase
• Review the Framing techniques and tools used in the Situation Analysis and Options Development Phases

Product Details