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Era of simulation
The real time computer based simulation program for managing stakeholders is the most powerful method of gaining six months of real experience in just one day. Developed by Prendo Simulations Limited UK in association with SHELL, it relates to the immense challenges of managing 24 stakeholders with diverse expectations in a Venezuela mine.
The stakeholders can be placed at different places of a triangle reflecting their primary interest related to environment, people and profit. Each team of 4 to 5 person has to take various complex decisions to balance the conflicting expectations of each stakeholder. The four hour simulation reflects 6 months of planning and communication. The winning team scores the highest marks based on the satisfaction level of various stakeholders and their relative importance to the project.
Prendo’s simulation games are well known globally and used by leading companies and business schools worldwide such as Google, UNOPS, Deloitte, SAP, Unilever, Petrobras, Total SA, Wharton School, INSEAD, MIT Sloane School, London Business School and University of Cambridge. The teams get a real life experience and a chance to compete with each other.
International innovation Corps., University of Chicago, New Delhi center asked the Centre for excellence in project management Limited (CEPM) to conduct the stakeholder simulation for their fellows having 2 to 4 years of experience, many of whom have done their MBA from University of Chicago. It was highly appreciated with positive feedback.
Over 337 persons from 60 organisations in India have earlier done this simulation program as part of the International Executive diploma programme I/EDPM offered by i2P2M in association with the George Washington University.
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