Name: Certificate in Business Decision Models
Start: 2019-11-03
End: 2019-11-07
Location: Dubai

Certificate in Business Decision Models

Quick Enquiry Download Brochure Call Me Back

Why Attend

Managers make decisions under three different conditions: certainty, risk, and uncertainty. It is part of their job description. Yet, few managers receive any formal training on decision making. This course provides participants with the essential business decision models and techniques in order to improve the quality of their decision making, taking into consideration the condition they operate under.

It also offers key advice on decision-making models and techniques that will enable you to make more informed/better decisions, manage uncertainty, improve your success rate, and become a more effective manager.

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

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

List of Certified Courses

Location & Date

3 - 7 Nov, 2019

Dubai

English

Meirc reserves the right to alter dates, content, venue and trainer.

Fees

Per participant

USD 5,100

Fees + VAT as applicable

Tax Registration Number : 100239834300003

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Course Outline

The Principles of decision making
- The standard decision-making model
- The decision-making spectrum
- Townsend’s rules
- The RAPID model
  - Recommend
  - Agree
  - Perform
  - Input
  - Decide

Using data for better and informed decisions
- Lewin’s force field analysis of support and opposition
  - Supporting forces
  - Restricting forces
- Scenario analysis and charting possible futures
  - Risk factor
  - Cost factor
- Mapping stakeholders’ reactions
- Level of stakeholder power
- Level of stakeholder interest
- Dealing with the politics of decisions

Risk-based decision making
- Risk impact/probability chart
  - The two primary dimensions
    - Probability
    - Impact
  - Creating the chart using excel
  - Decision tree analysis
    - Decision points
    - Chance points
    - Application exercise

Financial literacy for decision makers
- Cost-benefit analysis
  - Brainstorming costs and benefits
  - Assigning a monetary value to the costs
  - Assigning a monetary value to the benefits
  - Comparing costs and benefits
- Approaches to budgeting
  - Incremental budgeting
  - Zero-based budgeting

Implementing your decisions successfully
- Round’s Trap model
  - Task
  - Resources
  - Arithmetic
  - Priorities
- Shewhart’s PDCA model
  - Plan
  - Do
  - Check
  - Act
- Lessons learned

Leadership and Management

Training Categories