Major projects are frequently driven by stage-gate processes and project execution principles that are designed to support good decision-making, but often produce contrary results. Many projects tend to be schedule-driven and/or activity-driven, and decision-making is often structured to expedite the progress of the project, rather than to create the most value from the opportunity. This decision approach can lead to rework that results in project delays and cost overruns. In addition, some decision professionals and project leaders, perhaps unintentionally, contribute to the problem by insisting on strict adherence to the decision process and driving unnecessary work in the name of analytic completeness. Fortunately, these same individuals are in a unique position to shift the decision process from "doing the analysis required by the process" to "promoting the right conversation about the decision through facilitation and targeted analysis."
In this workshop, participants will explore a model by which decision professionals and project leaders can guide project teams and their management to better decisions by promoting a more constructive dialogue within the project management process. The decision conversation model focuses on three aspects: Understanding the decision, Improving the decision, and Taking Action on the decision. In addition to managing the project schedule and cost, the decision conversation needs to be managed to ensure that the project is achieving the expectations and objectives of the organization and that the decision makers have a clear understanding of the potential consequences of the decision – both good and bad. The workshop will be interactive and participants will be expected to bring examples of when their decision process either aided or hindered project progress and effectiveness.
Workshop participants will learn how to facilitate and participate in project meetings in a way that keeps the focus on adding value and improving project decisions. They will also learn the key elements to building and maintaining project value, and how to avoid common traps.
Who Should Attend:
Executives, project managers, decision professionals, project team members.
Frank Koch specializes in decision-maker coaching and the development of decision-making organizational capability. He has over 30 years of experience in strategy development, decision analysis, major capital project evaluation, opportunity valuation, applications of game theory to decision analysis, behavioral aspects of decision making and portfolio management. Frank has coached executive teams, project decision-makers, and most recently high school students helping them evaluate complex decisions. His experience includes decisions in oil & gas exploration & production, refining & marketing, information technology, environmental strategy and college and career decisions. He has taught decision analysis classes including Introduction to Decision Analysis, Introduction to Game Theory, Decision Quality for Decision Makers, & Framing and Facilitation of Complex Decisions.
Along with colleagues Larry Neal and Brian Putt, Frank won the 2010 Decision Analysis Society Practice Award. Frank is a founding fellow of the Society of Decision Professionals and is a past president. In 2012 he completed his term as the first executive editor of the Society of Petroleum Engineers' peer reviewed journal: SPE Economics & Management. He has been a member of the Decision Analysis Society Council (2014-2016). He has participated as keynote speaker and chairperson in numerous industry and professional conferences; and has served on the steering committees for various industry forums on Risk Management, Portfolio & Asset Valuation and Strategic Decision Making. Frank has a B.S. in geology from the University of Rochester (1974) and an M.S. in geology from Stanford University (1981).
Since retiring from Chevron, Frank has increasingly focused on bringing quality decision making to high school students. Through his affiliation with the Decision Education Foundation, he has led workshops in decision quality to incoming high school freshmen and has taught workshops and classes for high school students at Thurston High School and the Academy of Arts and Academics (Springfield OR school district) as well as workshops for the Oregon Association of Student Councils. He was selected volunteer of the year for the Springfield School District in 2016. Frank has found high school students to be far better and more rapid learners than senior executives, as well as being much more fun to work with! Back to top