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The energy industry is transforming its business models to deal with the uncertain energy landscape. To create value in this environment, we need to have superior management techniques. As Peter Drucker once said: “Whenever you see a successful business, someone once made a courageous decision”.
This PetroKnowledge training course introduces the audience to art and science of asset management in the oil and gas industry. It highlights the role of human judgement and analytical models to make better business decisions. Our focus would be on key insights that support major decisions in energy investment projects.
This training course will highlight:
Companies run businesses and to succeed in business they need to create value through management decisions. The energy industry has unique characteristics. It is highly capital intensive, has uncertain project outcomes, and is technically complex. This has led to specialized techniques that support good business decisions.
At the end of this training course, you will learn to:
In this course, we discuss the art and science of managerial decision making. Our discussions, while general in context, apply directly to the challenges of the oil and gas industry. Such an understanding is vital for management decision making.
The material in this course will be useful to managers and decision makers in the energy business. The course is also relevant to analysts, engineers, and consultants that support the process of decision making.
This training course is suitable to a wide range of professionals including:
The sessions include lectures, discussions, and guided real-world practice. The aim is to develop problem-solvers and effective decision makers rather than merely conveying information.
The key challenge in the energy industry is in good managerial decision making. This course trains individuals that
With enhanced skills in effective managerial decision making, the individual would be an effective problem solver. These skills further lead to enhancing the value of the person in an organization. The set of skills and knowledge that this course offers prepares individuals for a more effective role within the process of management decision making and investment in the energy business. This training course
We start by introducing the participants to the fundamentals of the oil and natural gas industry. We further discuss the fundamentals of value-enhancing decisions.
Human judgement is an integral part of management decision making. However, judgments are not always perfect.
Project values are sensitive to a variety of uncertain factors. We discuss the common uncertain features of the energy projects and then discuss measures of controlling and mitigating the risks.
We discuss tools that support management decision making. We further use the power of computers (MS Excel® and its add-ins) to support decisions.
In the final day of the course, we discuss the emerging trends and introduce analytical tools to implement the concepts.
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
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