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Project Formulation

Name: Project Formulation Training Course
Price: 4950 USD

Preparing Well-Structured Projects to Maximise Sustainable Value and Long-Term Impact

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Why Choose This Course

The Project Formulation training course provides project managers, PMO professionals and project team members with a structured framework for planning projects effectively. It addresses project initiation, scope, quality, risk, schedules, costs, resources, communications, stakeholders and procurement before execution begins. Weak stakeholder identification, undefined scope, insufficient risk planning, unrealistic schedules and unclear procurement arrangements can undermine a project from its outset. The course develops the disciplined planning capabilities needed to prepare projects for confident execution.

Aligned with the PMI PMBOK framework and performance domains, the course examines the complete project formulation lifecycle. It progresses from developing the project charter and prioritising stakeholders to creating the WBS and planning quality. Participants also address qualitative and quantitative risk analysis, schedule development, cost budgeting, and resource and communication planning. Procurement management and final execution readiness complete the process, reinforcing the planning rigour and governance discipline that support successful delivery.

This Project Formulation training course will highlight:

Developing project charters and prioritising stakeholders
Defining project scope and creating the WBS
Planning quality across the project lifecycle
Conducting qualitative and quantitative risk analysis
Developing schedules, cost budgets and resource plans
Planning communications, procurement and execution readiness

Course Goals

What are the Goals?

The Project Formulation Course aims to build comprehensive capability in project formulation — covering project initiation and scope planning, as well as planning for risk, schedule, cost, resources, communication, stakeholders, and procurement management.

Upon completing this course, participants will be able to:

Describe project management principles, performance domains, and lifecycle models, and create a structured project charter
Recognise and prioritise stakeholders and use stakeholder engagement planning throughout project formulation
Create the Project Management Plan and apply scope management processes, including gathering requirements, defining scope, and creating the WBS
Plan and implement quality management processes within the project formulation framework
Use the risk management planning process, including identifying risks, conducting qualitative and quantitative analyses, and planning risk responses
Use creative thinking methods to increase the effectiveness of risk identification
Plan schedule management processes, including defining and sequencing activities, estimating durations, and developing the schedule
Apply cost management processes, including estimating costs and determining the budget
Plan resource management processes, including estimating resources and planning communication management
Create procurement management plans and ready the project for execution

Learning Approach

How will this Training Course be Presented?

The Project Formulation Course uses a structured learning approach aligned with project processes, progressing methodically through every project formulation knowledge area — initiation, scope, quality, risk, schedule, cost, resource, communication, stakeholder, and procurement — to build a complete and integrated project formulation capability over the full course.

Each day addresses a separate group of project management planning processes, integrating practical application activities and the development of process outputs throughout, ensuring delegates gain direct, usable formulation skills together with conceptual understanding.

Delivery approaches include:

Instructor-led training on project management principles, planning processes, and governance frameworks aligned with PMI standards
Exercises in stakeholder identification and prioritisation that apply structured stakeholder analysis to project formulation scenarios
Project charter development activities that apply initiation process principles to the development of real project charters
Resource, communication, and procurement planning activities that develop integrated management plans and prepare the project for execution

The Course Summary & Outline

Day 1

Project Management Overview and Project Initiation
Day 2

Integration, Scope and Quality Management Planning Processes
Day 3

Risk Management Planning Processes
Day 4

Schedule and Cost Management Planning Processes
Day 5

Resource, Communication, Stakeholder and Procurement Management Planning Processes

The Project Formulation training course begins with core project concepts and the project cycle, then considers how needs, opportunities and stakeholders are identified and analysed. It progresses through problem definition, objective setting, project scope, assumptions, priorities and the assessment of alternative approaches. The agenda then develops these foundations into a structured project design by linking objectives, outputs and activities, while addressing implementation schedules, responsibilities, resource requirements, cost estimates and budgets within a coherent formulation framework.

The later agenda examines project feasibility and appraisal, including technical, financial, economic, social, environmental and institutional considerations, together with risk and sensitivity analysis. Attention then turns to implementation arrangements and the systems required to monitor progress, assess performance and evaluate results against defined indicators. The course concludes by bringing the principal elements together in project documentation, covering the organisation and presentation of the project rationale, objectives, proposed activities, resource and financing requirements, implementation arrangements, risks, and monitoring and evaluation provisions.

Recognition

Certificate

Delegates who successfully complete the Project Formulation training course are awarded the Wallstreet Academy Certificate of Completion, recognising their achievement and commitment to professional development. Participants receive 25–30 credits, with the final allocation based on their verified attendance throughout the course.

Each Guided Learning Hour represents 60 minutes of attendance. Attendance is documented in line with the quality management principles of ISO 9001:2015, supporting accurate and consistent record-keeping.

Frequently Asked Questions

The Project Formulation course focuses on preparing projects to maximise sustainable value. It centres on how projects are formulated before they move forward. The course connects project preparation with the goal of creating lasting value.

Key outcomes of this course include: plan and implement quality management processes within the project formulation framework; use the risk management planning process, including identifying risks, conducting qualitative and quantitative analyses, and planning risk responses; use creative thinking methods to increase the effectiveness of risk identification. The course develops the disciplined planning capabilities needed to prepare projects for confident execution.

Yes. The Project Formulation Course uses a structured learning approach aligned with project processes, progressing methodically through every project formulation knowledge area — initiation, scope, quality, risk, schedule, cost, resource, communication, stakeholder, and procurement — to build a complete and integrated project formulation capability over the full course.

You will learn about project formulation and the preparation of projects for sustainable value. The course explores the relationship between how a project is shaped and the value it is intended to deliver. Its emphasis is on making sustainability part of project preparation.

Key outcomes of this course include: describe project management principles, performance domains, and lifecycle models, and create a structured project charter; recognise and prioritise stakeholders and use stakeholder engagement planning throughout project formulation; create the Project Management Plan and apply scope management processes, including gathering requirements, defining scope, and creating the WBS.

This course is designed for professionals who want to build practical skills in this area. Weak stakeholder identification, undefined scope, insufficient risk planning, unrealistic schedules and unclear procurement arrangements can undermine a project from its outset.

Key outcomes of this course include: plan schedule management processes, including defining and sequencing activities, estimating durations, and developing the schedule; apply cost management processes, including estimating costs and determining the budget; plan resource management processes, including estimating resources and planning communication management. Aligned with the PMI PMBOK framework and performance domains, the course examines the complete project formulation lifecycle.