Course Detail

Masterclass in Risk, Management & Decision Making Dubai Duration: 2 Week/s

Course Information

  • Course Price
  • Location Dubai Courses
  • Course Code MRMDMD
  • Course Date 27 Nov - 8 Dec 2023

Course Objectives

In today’s challenging global environment management needs to be better prepared than ever before. This 3-day program covers some of the most critical elements for tomorrow & beyond. From managing risk, communication & conflict to solving problems for better decision making, this course covers it all. This program is designed to provide managers with the necessary skills and knowledge and to prepare them for more senior responsibilities within their organizations.

Who Should Attend

Procurement & purchasing personnel. Finance, operations, planning & marketing professionals will also gain. It will also be useful to buyers and those employees responsible for successful support of the related functions, quality management and cost and schedule control.

Course Overview

Risk management in procurement
Risk management options:

  • Manage. Mitigate, Transfer, Accept

  • Defining Procurement Risk Management. Trends leading to greater risk.

  • Barriers to risk management. Tools for risk management.

  • How far up & down the supply chain do you look for risk?

  • Business continuity and contingency planning.

  • Checklist (risk register) of Potential Risks in Procurement: the critical 11

  • Individual exercise: Identify Risk, Probability, Consequences & Actions

  • Risk reduction through developing a Certified Supplier Program (CSP).

  • Key elements of a CSP.

  • Levels of CSP.

  • Developing a CSP: Keys to success

  • Simulation exercise: Risk analysis via Monte Carlo simulation (Excel model)

  • Communication & conflict management skills

  • Communication. What is communication? How do we communicate?

  • Using multiple channels to get the message across.

  • Leveraging people’s learning styles to communicate more effectively.

  • Communicating throughout the organization. Using your Emotional Intelligence.

  • The Importance of Perception.
  • Effective and Powerful Communications
  • Effective Listening Skills. Diplomacy, Tact and Credibility

  • Group exercise: Communication role play on Communications Shutdowns Conflict management.

  • Defining conflict

  • Reasons behind conflict. The causes of workplace conflict.

  • Why it is important to resolve conflict in the workplace. Describe the methods of resolving conflict.

  • The list the Do’s and Don’ts of workplace conflict. Describe the steps in the conflict resolution process.

  • Turning conflict into creativity

  • Compete, Collaborate, Create, Control

  • Problem solving and decision-making skills.
    Problem solving

  • What is a Problem? Introduction of the PDCA model to solve problems.

  • Breaking Problem Solving into 4 Elements. Breaking the 4 Elements into 9 Phases.

  • From PDCA to APCIMAIR(SM). Breaking the 9 Phases into 21 steps.

  • 12 tools to use in problem solving

  • Group exercise: work a given problem through the 21-step model

  • Decision Making
    The 6-step decision making process

  • Constructive environment

  • Brainstorming o Explore alternatives

  • Choose the best alternatives

  • Check your decision

  • Communicate & take action

  • Uncertainty – Many of the facts may be unknown.

  • Complexity – There can be many, interrelated factors to consider.

  • High-risk consequences – The impact of the decision may be significant.

  • Alternatives – Uncertainties and consequences.

  • Interpersonal issues – How to predict how different people will react.

  • Simulation exercise: Prisoner’s dilemma

  • Learning Goal,/b>

  • Understand risk management related to procurement

  • Improved communication skills. Learn conflict management skills.

  • Use problem solving tools & techniques. Improve decision making skills & outcomes.

  • Learn the characteristics of an effective leader and understand how leaders motivate, delegate and inspire

  • Practical Exercises

  • One of the best ways to embed learning & make it part of our improved habits is to learn through doing.

  • This program includes practical activities on:
    Risk analysis via Monte Carlo simulation (Excel model) A risk analysis tool

  • Communications role play

  • Developing a 21-step model for problem solving

  • Decision making working through the (Prisoners’ dilemma)