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An Intensive 5 Day Training Course

Developing Project Strategy in the Oil & Gas Industry

Understand How to Make the Appropriate Decisions to Select and Support Projects

Print this Course

Code Date Venue Fee($)
PM103 05 - 09 Nov 2018 London - UK 5,500
PM103 15 - 19 Jul 2019 New York - USA 6,950
PM103 04 - 08 Nov 2019 London - UK 5,950

*All fees are exclusive of VAT


Why Choose this Training Course?

Today, large projects in the oil and gas industry face daunting challenges as they become increasingly complex, innovative and technologically demanding.  Project decision and strategy making allows the determination of the basic long-term goals and objectives of an enterprise.  It is more and more important that the correct project selection is made, that the benefits are clearly set out and understood at the outset and that the project is planned appropriately to support good delivery.

"If you will begin with certainties, you shall end in doubts, but if you will content to begin with doubts, you shall end in almost certainties"
-- Francis Bacon

Making good, solid project decisions is extremely important task for organisations, but not an easy thing to do. This PetroKnowledge training course offers an insight into decision-making procedures in a step-by-step manner.  It presents decision-analysis, using different decision criteria, different types of information, and information of varying quality. It covers the analysis of decision alternatives and choices, as well as the goals and objectives that guide decision-making.   We will take time to cover the key issues related to a decision-maker's preferences regarding alternatives, criteria for choice, and choice modes, together with relevant risk assessment tools.   All key information that will make delivering projects in the oil and gas industry more successful, from the viability of a project to recognising how to measure it with emphasis on timely delivery, cost benefit and value addition, will be discussed.

Key areas covered include:

This training course will highlight:


Training Objectives click here

What are the Goals?

This Project Strategy Development training course intends to guide successful project selection and delivery.

Criteria to be observed in generating the objectives:

  • Identify with relevant stakeholders and communication needs in the Oil & Gas industry
  • Understand key contextual requirements within the project environment
  • Learn how to use appropriate decision-making tools & techniques that have been tried and tested
  • Accurately estimate and allocate project costs and associated benefits

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

  • Systematically define, design, and integrate end-user requirements in the project decisions
  • Understand how the time-value of money techniques help to support decisions
  • Identify risk sources and learn how to mitigate potential risks and deal with uncertainty
  • Use appropriate tried and tested decision-making tools & techniques

Target Audience click here

Who is this Training Course for?

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

  • Project Management Professionals
  • Senior Management Decision Makers
  • Commercial Management
  • Financial Management
  • Senior business services professionals who hold responsibility for projects and costs in client and contracting companies

 

Training Methods click here

How will this Training Course be Presented?

Course participants will receive a thorough training on the subjects covered with the Tutor utilising a variety of proven adult learning teaching and facilitation techniques. Project methodology includes an insight into organisational decision methods and short and long-term strategy considerations. The training course includes an evaluation of project leadership skills required and will evaluate an applicable case study, with group discussion and critical analysis of this and other actual Oil & Gas projects.

Daily Agenda click here

Day One: Concepts of Project Management & Intricacies of Project Approval in Oil & Gas Industry

Competency Description:  The need has never been greater for projects to be approved that will deliver the greatest return on our investment; further, we need to ensure that we are appropriately prepared for the risks that come with those decisions.  We will begin by recognising where to focus our time, our resources and commitment in order to sanction and deliver our projects successfully.

Key behaviours

  • Establishing prioritisation of projects and associated risks
  • Developing strategic business case for project approval
  • Developing a method to assist in catchment of project ideas

Topics to be covered

  • Projects and Programmes
  • Project Life Cycles and Stage Gates
  • Project Sanctioning and approval Process. (PSAP) for the Oil & Gas Industry
  • Development of the Strategic Project Business Case
  • Project Identification–Awareness of accountability of Project Ideas
  • Exploratory decision-analysis

Day Two: Project Context for Oil & Gas Projects

Competency Description:  Understanding the environment that the project sits within is crucial to relevant decision-making.  We use various tools to assist us in this strategic process.

Key behaviours

  • Establishing an understanding of the environment within which the project is delivered
  • Develop influencing skills via influencing model
  • Gain an understanding of project stakeholders and how to manage them and meet their expectations

Topics to be covered

  • Appreciation of macro-environment in relation to project choice
  • Understand who stakeholders are and how they may impact upon the project
  • Regulatory framework, institutional factors and infrastructure
  • Project Feasibility Decision makers
  • Project Preparation & Planning responsibilities

Day Three: Project Financial Modelling and Project Leadership Skills

Competency Description:  Project Financing is crucial, so an understanding of how financial decisions are made will be analysed.   The Project Manager and other key decisions makers are vital and we will consider the role of the project leaders and development of leadership skills where appropriate.

Key behaviours

  • Establishing prioritisation of projects and associated risks
  • Developing strategic business case for project approval
  • Developing project leadership skills to assist in decision-making
  • Developing a method to assist in catchment of project ideas

Topics to be covered

  • Structuring project finance deals
  • Financing/ credit risk considerations for the Oil & Gas project
  • The time value of money – how it applies to project finance
  • Yields and rate of return - Discounted Cash Flow (DCF) analysis
  • Build an executive leadership style that guides the project toward greater performance and profit
  • Understand the Project Organisation in a typical Oil & Gas project
  • Project Manager–Unique Requirements

Day Four: Identify Reasons for Project Failures & Prepare for Successful Delivery and Integration

Competency Description:  The risk of project failure is huge - one failed project may be enough to wipe out a full year’s profit, so we need to ensure we commence our project aiming for success throughout the project.

Key behaviours

  • Establishing why projects fail
  • Developing plans to ensure best chance of project success
  • Developing a project team driven towards success

Topics to be covered

  • Understand why some projects fail
  • Gain an understanding of successful projects and analyse reasons for success
  • Development of the Project Charter
  • Define success criteria and KPI’s of an example Oil & Gas project
  • Capture Project Requirements
  • Understand the need for a project team approach
  • Importance of communication in an Oil & Gas project
  • Working Collaboratively

Day Five: Development Project Stakeholder Relationships & Project Communication

Competency Description:  Project Stakeholders are crucial -  the likelihood of their requesting project changes are extremely high and good decision- makers need to understand the best tools to use to aim to satisfy the needs of stakeholders, or ultimately, maintaining a good relationship.

Key behaviours

  • Establishing stakeholders’ needs via engaging with them
  • Developing positive working relationships
  • Developing a method to report project decisions-made

Topics to be covered

  • Identify and plan to engage with the project’s key stakeholders
  • Creating project dashboards
  • Presenting decisions to the project board
  • Recognising need for Project Recovery
  • Control Decision-making

Accreditation click here

PMI Registered Education Provider

The Registered Education Provider (R.E.P. ID:4349) status with the Project Management Institute (PMI®) enables PetroKnowledge to issue applicable Professional Development Hours/Units (PDHs/PDUs) to participants on this training course, to help you achieve or maintain PMI® professional credentials.

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

Related Courses click here

Reference

Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition, Project Management Institute, Inc. 2013


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Home » Courses » Project & Construction Management » Developing Project Strategy in the Oil & Gas Industry
PetroKnowledge Training


Developing Project Strategy in the Oil & Gas Industry
Understand How to Make the Appropriate Decisions to Select and Support Projects


Code Date Venue Fees
PM103 05 - 09 Nov 2018 London - UK $5,500
PM103 15 - 19 Jul 2019 New York - USA $6,950
PM103 04 - 08 Nov 2019 London - UK $5,950



Why Choose this Training Course?

Today, large projects in the oil and gas industry face daunting challenges as they become increasingly complex, innovative and technologically demanding.  Project decision and strategy making allows the determination of the basic long-term goals and objectives of an enterprise.  It is more and more important that the correct project selection is made, that the benefits are clearly set out and understood at the outset and that the project is planned appropriately to support good delivery.

"If you will begin with certainties, you shall end in doubts, but if you will content to begin with doubts, you shall end in almost certainties"
-- Francis Bacon

Making good, solid project decisions is extremely important task for organisations, but not an easy thing to do. This PetroKnowledge training course offers an insight into decision-making procedures in a step-by-step manner.  It presents decision-analysis, using different decision criteria, different types of information, and information of varying quality. It covers the analysis of decision alternatives and choices, as well as the goals and objectives that guide decision-making.   We will take time to cover the key issues related to a decision-maker's preferences regarding alternatives, criteria for choice, and choice modes, together with relevant risk assessment tools.   All key information that will make delivering projects in the oil and gas industry more successful, from the viability of a project to recognising how to measure it with emphasis on timely delivery, cost benefit and value addition, will be discussed.

Key areas covered include:

This training course will highlight:


Training Objectives

What are the Goals?

This Project Strategy Development training course intends to guide successful project selection and delivery.

Criteria to be observed in generating the objectives:

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

Target Audience

Who is this Training Course for?

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

 

Training Methods

How will this Training Course be Presented?

Course participants will receive a thorough training on the subjects covered with the Tutor utilising a variety of proven adult learning teaching and facilitation techniques. Project methodology includes an insight into organisational decision methods and short and long-term strategy considerations. The training course includes an evaluation of project leadership skills required and will evaluate an applicable case study, with group discussion and critical analysis of this and other actual Oil & Gas projects.

Daily Agenda

Day One: Concepts of Project Management & Intricacies of Project Approval in Oil & Gas Industry

Competency Description:  The need has never been greater for projects to be approved that will deliver the greatest return on our investment; further, we need to ensure that we are appropriately prepared for the risks that come with those decisions.  We will begin by recognising where to focus our time, our resources and commitment in order to sanction and deliver our projects successfully.

Key behaviours

Topics to be covered

Day Two: Project Context for Oil & Gas Projects

Competency Description:  Understanding the environment that the project sits within is crucial to relevant decision-making.  We use various tools to assist us in this strategic process.

Key behaviours

Topics to be covered

Day Three: Project Financial Modelling and Project Leadership Skills

Competency Description:  Project Financing is crucial, so an understanding of how financial decisions are made will be analysed.   The Project Manager and other key decisions makers are vital and we will consider the role of the project leaders and development of leadership skills where appropriate.

Key behaviours

Topics to be covered

Day Four: Identify Reasons for Project Failures & Prepare for Successful Delivery and Integration

Competency Description:  The risk of project failure is huge - one failed project may be enough to wipe out a full year’s profit, so we need to ensure we commence our project aiming for success throughout the project.

Key behaviours

Topics to be covered

Day Five: Development Project Stakeholder Relationships & Project Communication

Competency Description:  Project Stakeholders are crucial -  the likelihood of their requesting project changes are extremely high and good decision- makers need to understand the best tools to use to aim to satisfy the needs of stakeholders, or ultimately, maintaining a good relationship.

Key behaviours

Topics to be covered

Accreditation

PMI Registered Education Provider

The Registered Education Provider (R.E.P. ID:4349) status with the Project Management Institute (PMI®) enables PetroKnowledge to issue applicable Professional Development Hours/Units (PDHs/PDUs) to participants on this training course, to help you achieve or maintain PMI® professional credentials.

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

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© 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.


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merican Society for Nondestructive Testing
American Welding Society
Project Management Institute
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The PMI® Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.