Project Appraisal & Analysis

This inspiring Project Appraisal & Analysis training course was successfully conducted in the heart of London last week. No doubt there were questions from delegates about Brexit and its risks to London and the UK. Who will be the next UK Prime Minister to lead Brexit – to be announced next month?

107 years ago, the Titanic set sail on its maiden voyage. It sank just two hours and forty minutes after hitting an iceberg. During the week we will examine how White Star Line managed this project and try and identify some of the causes of risk through the project lifecycle. Some interesting Titanic facts to tickle the taste buds:

• From the time the lookouts sounded the alert, the officers on the bridge had only 37 seconds to react before the Titanic hit the iceberg. In that time, First Officer Murdoch ordered, “hard a-starboard” (which turned the ship to port – left). He also ordered the engine room to put the engines in reverse. The Titanic did bank left, but it wasn’t quite fast or far enough.
• The Titanic was 5 feet long, 92.5 feet wide, and 175 feet high. It would displace 66,000 tons of water and it was the largest ship built up to that point in time. Supposedly unsinkable!
• The Oasis of the Seas, a luxury liner built in 2010, has a total length of 1,187 feet. That is nearly a football pitch longer than the Titanic.
• Luxuries for the first-class passengers included a swimming pool, a Turkish bath, a squash court, and a dog kennel. There were only two bathtubs for third class passengers
• The Ritz Restaurant on board was inspired by the famous Ritz in London’s Piccadilly Circus.
• The last dinner served to first class passengers at the Ritz Restaurant was a feast with ten sumptuous courses, featuring oysters, caviar, lobster, quail, salmon, roast duckling, and lamb.
• Onboard were 20,000 bottles of beer, 1,500 bottles of wine, and 8,000 cigars, all for the first-class passengers.
• The grand staircase descended seven of the ship’s ten decks and featured oak panelling and bronze cherubs.
• The Titanic burned about 600 tons of coal each day to keep it powered. A team of 176 men kept the fires burning, and it is estimated that over 100 tons of ash were injected into the Atlantic each day the Titanic operated.
• Originally, a lifeboat drill was scheduled to take place on board the Titanic on the very day that the ship hit the iceberg. However, Captain Smith cancelled the drill. Many people believe that had the drill taken place, more lives could have been saved. Many lifeboats were not full.
• There are 5 museums celebrating Titanic across the US Canada and UK:
  • Titanic museum in Branson, Missouri, USA
  • Sea City Museum – Southampton, England
  • Titanic the Experience – Buena Park, California, USA
  • Titanic Museum – Belfast, Northern Ireland
  • Maritime Museum – Halifax, Nova Scotia, Canada

When the delegates left on Friday, they were able to:

• Undertake, Technical, Economic, Financial & Risk Analysis to Select Projects to Meet National and Organisational Objectives
• Undertake Financial Analysis Using Payback, NPV & IRR
• Identify & Measure Risk & Uncertainties
• Evaluate and Manage Risks Using the Latest Tools & Rechniques
• Manage Uncertainties using Decisions Trees, Programming Techniques – Gannt Charts, Network & Critical Path Analysis, Manpower Planning, Contingency Planning & Earned Value Analysis

…..In addition to understanding Brexit and of course the Titanic!

If you want to know more about this course and attend its future sessions, please click this link – https://copextraining.com/courses/project-appraisal-analysis

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