Name: Certificate in Business Decision Models
Start: 2021-10-17
End: 2021-10-21
Location: Dubai

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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
- 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

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.