We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.
Why Choose this Training Course?
Why Choose this Online Training Course?
Cost control within the Oil & Gas Industry presents certain challenges. Costs must be managed without compromising either safety or production. This innovative PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online 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 online training course will help the delegates to save their employers money without damaging the business. This PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company training course will feature practical, engaging, and innovative techniques from different organisations. This online training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery, or safety.
What are the Goals?
What are the Goals?
As a result of this PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online 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 PetroKnowledge online 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 PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online 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 online training course is suitable for a wide range of professionals but will greatly benefit:
People providing direct support to the above
How will this Training Course be Presented?
How will this Online Training Course be Presented?
This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.
By attending this PetroKnowledge Cost Planning, Control & Optimization in a Major Oil & Gas Company online 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
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
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
Oil & Gas Issues
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 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
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
On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates
In Association With
Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients