An Intensive 5-day Training Course
Cost Planning, Control & Optimization
Enhancing Your Financial Skills to Increase Your Business Potential
Scheduled Dates
Classroom
| 04 - 08 Nov 2024 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 23 - 27 Dec 2024 | London - UK | $5,950 | RESERVE A SEAT |
| 24 - 28 Feb 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 26 - 30 May 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 25 - 29 Aug 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 10 - 14 Nov 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 29 Dec 2025 - 02 Jan 2026 | London - UK | $5,950 | RESERVE A SEAT |
Online
| 28 Oct - 01 Nov 2024 | Online | $3,950 | RESERVE A SEAT |
| 24 - 28 Feb 2025 | Online | $3,950 | RESERVE A SEAT |
| 10 - 14 Nov 2025 | Online | $3,950 | RESERVE A SEAT |
Are the scheduled dates matching with your needs?
We provide a wider range of training options. Tailored and customized, we can deliver your organisation’s training needs anytime, anywhere.
Why Choose this Training Course?
Cost control is important and yet presents certain challenges. Costs must be managed without compromising either safety or production quality. This innovative Cost Planning, Control & Optimization training course presents the delegates with practical tools and techniques which can easily be applied immediately within their company and work. It also introduces to the delegates the emerging tools and techniques to develop for the future.
This PetroKnowledge Cost Planning, Control & Optimization training course will help the delegates to save their employers money without damaging the business or sacrificing the quality. This training course will feature practical, engaging and innovative new techniques from different organisations. This training course will also help the delegates to identify and deliver savings without affecting the performance, capability, strategy, delivery or safety.
What are the Goals?
As a result of this training course, delegates will gain better understanding cost control 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 Cost Planning, Control & Optimization 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
Who is this Training Course for?
This 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 PetroKnowledge Cost Planning, Control & Optimization 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
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. This Cost Planning, Control & Optimization 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.
Organisational Impact
By attending this training course, participants will provide benefits for their organization through the following:
- Participants will develop a set of transferable skills which will improve their powers of cost planning helping the company to increase profit, improve cash flow whilst minimizing costs and risk
- The new skills will help them to make more informed and hence better management decisions
- The use of practical case studies and illustrations of real companies will help delegates understand how to apply different planning, forecasting and analysis techniques in a work situation
- The knowledge gained can be shared amongst other departments of the company to improve the financial culture of the entire organisation
- Strategic Thinking and Appreciation of the links between costing, budgets and Strategic Financial Plans
- Application of Effective Forecasting Techniques
- Identification of the most appropriate Financing and Optimal Capital Structures
- Development of Modern Approaches to Costing, Planning, Budgeting and Budgetary control
- Capital Investment appraisal, Cash Forecasting and Budgeting
Personal Impact
As a delegate, you will:
- Develop an understanding of today’s major issues in cost planning and control
- Develop your professional skills, powers of analysis, evaluation and decision-making
- Be able to make more informed and hence better planning, budgeting and cost reduction techniques
- Make improved finance and capital budgeting decisions, which will increase your importance to your organization
- Absorption Costing, Marginal Costing and Cost-Volume-Profit (CVP) Analysis, Activity Based Costing (ABC), and Activity Based Management (ABM)
- Application of Discounted Cash Flow (DCF) techniques of Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), Equivalent Annual Cost (EAC), and the Profitability Index (PI) for Capital Project Investment Appraisal and Capital Budgeting
- Be able to identify areas in which they may be able to contribute to improvements in the financial performance of your company which will help improve your career development
Daily Agenda
Day One : Cost, Profit, Risk and Cash
- Costs and Profit
- Objectives - Mission & Vision - Profit Now vs. Profit Later
- Strategy and How It Guides Cost Management Decisions / Strategy Models and Costs Management
- Cost vs. Value / Value Focused Approaches Profit Drivers
- Costs and Cash
- Cash vs. Profit
- Cost – Cash and Non-cash
- Costs Management vs. Cash Management / Capital vs. Revenue Managing Capital Cost / Managing Revenue Cost
- Cost and Risk
- Introduction to Risk
- Cost and Risk
Day Two : Costs & Costing
- Understanding and Working with Costs
- Cost vs. 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
Day Three : Planning and Forecasting Costs / Risk
- 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
- OPEX Planning and Performance Monitoring
Day Four : Investment Appraisal and Projects – Capital Budgeting
- Building Cashflow Models for Decision Making
- CAPEX Planning System
- Factors Used to Evaluate the Efficiency of CAPEX Projects, Annual Investment Program
- CAPEX Planning
- Applying Time-adjusted Measures - The Time Value of Money
- Net Present Value (NPV) and Internal Rate of Return (IRR)
- Sensitivity Analysis, Scenario Analysis, Simulation/Monte Carlo Analysis
- The Importance of Flexibility and Options
- Dealing with Risk and Changing Circumstances
Day Five : Budgets and Cost Control
- 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
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to reg@petroknowledge.com
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to info@petroknowledge.com.
