Effective Decision-Making: A Methodology Approach     New!

On-site
Delivery
Open
Enrollment

I.D.# C1354Printable Description
Duration: 1 Day
December 9, 2014 (8:30 a.m. - 4:30 p.m. ) - Troy, Michigan  
April 24, 2015 (8:30 a.m. - 4:30 p.m. ) - Troy, Michigan  
October 19, 2015 (8:30 a.m. - 4:30 p.m. ) - Troy, Michigan  

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Effective decision making is critical to maximizing profit/minimizing expenses, return on capital spending, and operational efficiency. To understand the impact of decisions that affect the enterprise, professionals at every level must secure and integrate relevant cross-functional information. Register for this seminar and learn skills needed to base decision making on solid business knowledge and sound financial principles instead of on emotion or "your gut." The instructor walks you through the tenets of structured decision-making and teaches a step-by-step approach to make practical, effective decisions.

Note: Participants are requested to bring a scientific calculator capable of doing exponential calculations for class analyses.

Learning Objectives
By attending this seminar, you will be able to:

  • Define the decision boundaries and expectations for decision outcomes
  • Select the optimal methodology for decision making
  • Select the best decision-making criteria in making project decisions and allocating capital budgets
  • Determine the lowest enterprise costs in raising capital through debt and equity offerings
  • Analyze make-buy, buy-lease, replacement and other alternative enterprise decisions based on the best financial strategies
  • Articulate the financial sensitivity of project decisions and the use of decision tools for integrating cross-functional business requirements
  • Develop an effective decision-making structure for your unique specific project criteria and your organization

Who Should Attend
This seminar will benefit individuals having responsibilities in engineering, business, finance, marketing, purchasing, manufacturing, research, and program management. In addition, local government leaders and individuals in non-profits may benefit from these decision-making case studies in determining business decisions including which projects and grants should be supported. A group from the same organization may find it advantageous to attend together.

Prerequisites
Individuals holding a business or technical degree, combined with some management decision experience, will find this seminar extremely helpful. Knowledge of spreadsheet software and mathematical functions is required.

Topical Outline

  • Decision Boundaries and Expectations
    • Region & Functions Impacted
    • Time Frame of Decision
    • Outcomes
    • Plan B
  • Decision-Making Principles
    • Evolution
    • Terminology
    • Types
    • Stages
  • Financial Principles
    • Time Value of Money, Interest & Inflation
    • Worth (Present Value, Future Value, etc.)
    • Financial Decision Methods (NPV, IRR, Payback Period, etc.)
    • Case Studies
  • Decision-Making Criteria
    • Market Demographics
    • Product or Service Position/Leadership, Parity
    • Financials & Price/Margin/Cost Reduction
    • Quality/Customer Satisfaction
    • Change in Business Direction/Vision
    • Personnel/Job Creation
  • Cost Impact & Enterprise Decisions
    • Cost of Capital: Equity & Debt, Revenue Sources
    • Cost of Ownership: Depreciation, Accelerated Cost Recovery
    • Influence of Tax Obligations
    • Case Studies
  • Alternative Financial Decisions for the Enterprise (Principles & Case Studies)
    • Make/Buy
    • Buy/Lease
    • Replace/Repair
    • Investments of Unequal Life
  • Sensitivity & Scenario Analysis & Decisions (Case Studies)
  • Decision-Making Methodology
    • Matrix Priority Rating System
    • Case Study by Attendees

Instructor(s): James Masiak
Mr. Masiak is currently a Principal of Technology Highway, L3C, responsible for Technology Development and Commercialization processes. Prior to this, Jim worked for General Motors for more than 25 years where he was responsible for the implementation of business and engineering processes, including the implementation of an enhanced engineering product cost management process within GM North America, the alignment of cross functional organizational initiatives, and development of an engineering resource allocation plan for GM Regions. Mr. Masiak was also responsible for the development and implementation of specific global engineering and business strategies across all of General Motors International Operations. He received a B.S. in Mechanical Engineering from Wayne State University, a M.S. in Mechanical Engineering from the Massachusetts Institute of Technology, and a M.B.A. from Michigan State University’s Executive Management Program.

Fees: $755.00 ; SAE Members: $605.00 - $685.00

.7 CEUs
You must complete all course contact hours and successfully pass the learning assessment to obtain CEUs.

To register, click Register button at the top of this page and submit the online form, or contact SAE Customer Service at 1-877-606-7323 (724/776-4970 outside the U.S. and Canada) or at CustomerService@sae.org.

For a quote on bringing this course to your company site, fill out a Corporate Learning Solutions Request Form