+971 2 557 7389 info@petroknowledge.com
Petroknowledge

An Intensive 5 Day Training Course

Cost Planning, Control & Optimization
in a Major Oil & Gas Company

Print this Course

Home » Courses » Finance, Budgeting & Accounting » Cost Planning, Control & Optimization in a Major Oil & Gas Company

Course Dates, Venues and Fees

Code Date Venue Fee($)
FI121 11 - 15 Nov 2018 Dubai - UAE $4,750

Why Choose this Training Course?

Cost control within the Oil & Gas Industry presents certain challenges. Costs must be managed without compromising either safety or production. This innovative training course presents the delegates with practical tools and techniques which can easily be applied right now within their company and work. It also introduces delegates to emerging tools and techniques to develop for the future.

This PetroKnowledge training course will help the delegates to save their employers money without damaging the business. This training course will feature practical, engaging and innovative new techniques from different organisations. This development will primarily focus on the software systems used to manage and control operational and capital costs. This training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery or safety.


Training Objectives click here

What are the Goals?

As a result of this training course, delegates will gain better control of costs and it will provide opportunities for immediate savings and long term sustainable saving for the organisations. Delegates will be engaged, challenged and motivated to make a significant difference within their organizations.

By the end of this training course, participants will be able to:

  • Proactively manage costs
  • Seek opportunities for cost reduction
  • Effectively control costs
  • Make better use of cost budgets, plans and forecasts
  • Understand project appraisal
  • Control costs with projects

Target Audience click here

Who is this Training Course for?

This PetroKnowledge training course is essential for many professionals but especially for managers with financial responsibility for departments or projects or those who are involved in the analysis of costs to support decisions within the business.

This training course is suitable for a wide range of professionals but will greatly benefit:

  • Finance Managers
  • Budget holders
  • Project Managers
  • Professional Engineers
  • People providing direct support to the above

Training Methods click here

How will this Training Course be Presented?

Formal trainer led input will be mixed with discussion, case studies, exercises, games and videos and excel models. The training course will be interactive, engaging and most importantly practical. Delegates will be encouraged to create a learning log and action plan so that improvements resulting from this training can be tracked.

Daily Agenda click here

Day One: Cost, Profit, Risk and Cash

Competency Description: Delegates will learn the essentials of costs management impacts of Profit, Risk and Cash.

Key behaviours

  • Understands the difference between cost and value
  • Considers cash impacts of costs management decisions
  • Recognizes risk impacts for cost management decisions
  • Understands the role of Strategy, Vision and mission in cost management choices
  • Encourages cost awareness and cost consciousness
  • Promotes cost management

Topics to be covered

  • Costs and Profit
    • Objectives -Mission & Vision - Profit Now v Profit Later
    • Strategy and how it guides cost management decisions / Strategy models and costs management
    • Cost v Value / Value focused approaches Profit Drivers
  • Costs and Cash
    • Cash V Profit
    • Cost – cash and non-cash
    • Costs management v Cash Management / Capital v Revenue Managing Capital Cost / Managing Revenue Cost
  • Cost and Risk
    • Introduction to Risk
    • Cost and Risk

Day Two: Costs & Costing

Competency Description: Delegates will acquire comprehensive understanding of costs and cost management. They will also become more cost conscious and understand the need for continuous cost management.

Key behaviours

  • Manages costs
  • Seeks cost reduction and improvement
  • Seeks innovation and researches options for continuous improvement
  • Recommends improvement
  • Supports a cost management culture

Topics to be covered

  • Understanding and working with costs
  • Cost v Value
  • Value based cost Management / thinking
  • Plan for cost reduction and profit improvement
  • Fixed and variable costs income statement
  • Break-even analysis / Contribution margin
  • Costing approaches – Full Absorption, Marginal, ABC
  • New ideas in cost management – lean principles / ABC – Big data
  • Oil & Gas issues

Day Three: Planning and Forecasting Costs / Risk

Competency Description: Delegates will acquire compressive cost forecasting and planning skills, including skills related to creating and using software models

Key behaviours

  • Forecast costs effectively
  • Seeks improvement in forecasting and forecast measurement
  • Models cost impacts of decisions
  • Uses appropriate software to support cost management
  • Plans costs

Topics to be covered

  • OPEX planning approaches
  • Value engineering approaches applied to OPEX and personnel incentives.
  • G&A cost planning and valuation
  • Forecasting tools and techniques
  • What is risk?
  • Modelling costs and profit and risk
  • OPEX long-term forecast
  • Software used in OPEX planning and performance monitoring

Day Four: Investment Appraisal and Projects – Capital Budgeting

Competency Description: Delegates will acquire a full understand of capital budgeting and its links to both cost and risk management

Key behaviours

  • Understands the nature of capital investment and its impact on cash
  • Recognizes the impact of the time value of money
  • Incorporates Present Value in investment decisions
  • Understands risk I investment decisions
  • Uses sensitivity and scenario analysis

Topics to be covered

  • Building cash flow models for decision making
  • CAPEX planning system
  • Factors used to evaluate the efficiency of CAPEX projects, annual investment program.
  • CAPEX planning in oil companies:
  • applying time-adjusted measures - The time value of money
  • Net present value (NPV) and internal rate of return (IRR) / EVA and NPV
  • Sensitivity analysis, scenario analysis, simulation, and NPV break-even / Monte Carlo Analysis
  • The importance of flexibility and Options
  • Dealing with risk and changing circumstances

Day Five: Budgets and Cost Control

Competency Description: Delegates will learn how to apply best practice in budgeting and adopt new and emerging budgeting ideas with their work

Key behaviours

  • Builds effective budgets and financial plans
  • Manages or supports budgets
  • Seeks improvement in budgeting process
  • Reduces time and cost of budgeting process
  • Analyses budgets and variances

Topics to be covered

  • The Budgeting Process
  • The role of budgeting
  • Annual budgeting process
  • Identifying and resolving budgeting variances
  • Different budgeting systems in use today
  • Budgeting tips and techniques
  • Variance analysis
  • Beyond Budgeting

Related Courses click here


Register Quick Enquiry Request an In-House Proposal

DMCA.com Protection Status

Home » Courses » Finance, Budgeting & Accounting » Cost Planning, Control & Optimization in a Major Oil & Gas Company
PetroKnowledge Training


Cost Planning, Control & Optimization
in a Major Oil & Gas Company


Code Date Venue Fees
FI121 11 - 15 Nov 2018 Dubai - UAE $4,750



Why Choose this Training Course?

Cost control within the Oil & Gas Industry presents certain challenges. Costs must be managed without compromising either safety or production. This innovative training course presents the delegates with practical tools and techniques which can easily be applied right now within their company and work. It also introduces delegates to emerging tools and techniques to develop for the future.

This PetroKnowledge training course will help the delegates to save their employers money without damaging the business. This training course will feature practical, engaging and innovative new techniques from different organisations. This development will primarily focus on the software systems used to manage and control operational and capital costs. This training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery or safety.


Training Objectives

What are the Goals?

As a result of this training course, delegates will gain better control of costs and it will provide opportunities for immediate savings and long term sustainable saving for the organisations. Delegates will be engaged, challenged and motivated to make a significant difference within their organizations.

By the end of this training course, participants will be able to:

Target Audience

Who is this Training Course for?

This PetroKnowledge training course is essential for many professionals but especially for managers with financial responsibility for departments or projects or those who are involved in the analysis of costs to support decisions within the business.

This training course is suitable for a wide range of professionals but will greatly benefit:

Training Methods

How will this Training Course be Presented?

Formal trainer led input will be mixed with discussion, case studies, exercises, games and videos and excel models. The training course will be interactive, engaging and most importantly practical. Delegates will be encouraged to create a learning log and action plan so that improvements resulting from this training can be tracked.

Daily Agenda

Day One: Cost, Profit, Risk and Cash

Competency Description: Delegates will learn the essentials of costs management impacts of Profit, Risk and Cash.

Key behaviours

Topics to be covered

Day Two: Costs & Costing

Competency Description: Delegates will acquire comprehensive understanding of costs and cost management. They will also become more cost conscious and understand the need for continuous cost management.

Key behaviours

Topics to be covered

Day Three: Planning and Forecasting Costs / Risk

Competency Description: Delegates will acquire compressive cost forecasting and planning skills, including skills related to creating and using software models

Key behaviours

Topics to be covered

Day Four: Investment Appraisal and Projects – Capital Budgeting

Competency Description: Delegates will acquire a full understand of capital budgeting and its links to both cost and risk management

Key behaviours

Topics to be covered

Day Five: Budgets and Cost Control

Competency Description: Delegates will learn how to apply best practice in budgeting and adopt new and emerging budgeting ideas with their work

Key behaviours

Topics to be covered

Print Page

© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


Sending your message. Please wait...

Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download PDF

© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


Sending your message. Please wait...

Download PDF Click here to download PDF file Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download The Complete PetroKnowledge Training Schedules Here

Quality Assured Training

PetroKnowledge is one of the exclusive group of training providers who have been awarded the prestigious ISO 29990:2010 accreditation.

ISO 29990:2010 ISO 29990:2010 & ISO 9001:2015

Our Training Partners

We are an approved training provider and partner to over 10 global institutions.
We believe in training excellence and our partners are a testament to that commitment.

Institute of Leadership & Management
Institute of Marine Engineering, Science and Technology
 Maintenance & Reliability Professionals
Energy Institute
merican Society for Nondestructive Testing
American Welding Society
Project Management Institute
German Association for Water, Wastewater and Waste (DWA).

The PMI® Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.