Tafawoq, a leading project management centre of excellence, hosted a workshop for project managers recently.
The event was attended by project directors, managers, asset managers and project finance managers responsible for the screening of investment opportunities.
The one-day workshop was delivered by senior development adviser at Tafawoq, Jan Hogendoorn, and it provided participants with an overview of project economics essentials and the screening criteria that should be applied to establish the economic viability of an investment.
Bader al-Jaidah, director of Tafawoq, said: “The ‘project economics for project managers’ event aims to enhance the skills of industry professionals, which will in turn assist in the advancement of the project management industry in Qatar.’’
During the interactive session, various topics were addressed, including cost estimation, risk classification, risk qualification and methods for economic sensitivity and project optimisation. A number of case studies were presented in order to demonstrate these concepts, followed by a group exercise to practice developing investment decision-making processes.
Hogendoorn noted: “I am delighted to be leading this workshop. It offers participants valuable insights into economic screening criteria and enables them to refine their investment decision-making skills. Given the current low oil price, it is imperative that managers are able to make sound decisions that will ensure the ultimate success of an investment.”
Tafawoq, a partnership between Qatar Petroleum (QP), Qatar Shell and Hamad Bin Khalifa University, offers training for project professionals to further develop the competencies of the project management community in Qatar.
Fahad Ali al-Ansari, project services manager at QP, said: “I’m gratified to be part of the Tafawoq programme and benefit from this session designed to develop our competencies in the areas of our work.”
Tafawoq’s curriculum is aligned with the Association for Project Management (APM), the wlargest professional body in Europe with 500 corporate and 18,500 individual members. APM accredited Tafawoq’s Essentials of Project Management course last year and, since then, 70 project professionals successfully passed and obtained the APMA Level-D certificate.