WINNERS of Diamond BootCamp 2016 competition at National University "Lviv Polytechnic"                  

On 14th December 2016, the FINAL of an international team’s training-competition #DiamondBootCamp 2016 took place. The event was dedicated to 200-years of Anniversary of National University “Lviv Polytechnic”.Winners (four students) received the grand award - internship in Elsman Group B.V. and Lely International NV in the Netherlands for 3 (three) months of 2017:

1. Olha Denysyuk
2. Kateryna Kukhtiak
3. Khrystyna Pistun 
4. Kate Ilnytskaya

Congratulations and success towards great achievements and knowledge expansion. 

Briefly about the project:

In February 2016, 86 students (17 teams) of the Institute of Economics and Management, National University "#LvivPolytechnic" (#INEM) applied to participate in an international two-phase team`s training-competition Diamond BootCamp.

Professors of National University "Lviv Polytechnic" formed a group of experts Diamond BootCamp, followed a basic training of how to use Financial Management System Diamond and provided advisory support to teams’ during 9 month of the project. 

From February till September 2016 teams conducted market research, analyzed the effects of external and internal environment at the activities “companies”, followed a basic training of how to use Financial Management System Diamond (FMS), feasibility study development and built professional business plans of theirs manufacturing companies using Diamond FMS, defended in front of an independent jury (the Bank).

From September till December 2016, students learned the process of management of the manufacturing business in conditions close to reality, promptly taking managerial decisions during the 8 (eight) operating quarters, modified business processes at every level of organization, reporting at every stage based IFRS approach (balance sheet, P&L, CF etc.).

On 14th December 2016, four teams of 15 students demonstrated their businesses managed under the influence of the dynamic environment, managerial decisions taken in order to maintain uninterrupted and profitable production using financial management system Diamond (software).

In the operating phase teams set a goal to find the optimal management style to optimize processes and increase efficiency of their enterprises in the continuous competition, production and technical complexity, organizational and economic systems, and learn to take flexible urgent decisions when changes cannot be predicted.

The main assessment criteria’s by independent jury (the Bank) were comprehensive analysis of enterprises built by teams, inclusive novelty, complexity, dynamics and unpredictable occurrence of a various business processes. The duration of the period of business modeling was equal to 2 years.

Every team defended the developed ability to make effective managerial decisions during the project, comparing the operational annual report with business plan results in:

- Defense of the managerial decisions taken. 
- Analysis of the influence of market environment on financial activity of the  company.
- Rationalization of the development of liquidity (forecast|realization|difference) during the operating cycle.
- Argumentation of investments received from the "Bank".
- Further, forecast of the successful development of the company.

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