Name: The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals Training Course
Rating: 4.7 (1076 reviews)

Scheduled Dates

Classroom

06 - 17 Jul 2026

London - UK

$11,900

16 - 27 Nov 2026

London - UK

$11,900

29 Mar - 09 Apr 2027

London - UK

$11,900

05 - 16 Jul 2027

London - UK

$11,900

15 - 26 Nov 2027

London - UK

$11,900

Why Choose this Training Course?

This PetroKnowledge training course addresses the need for professionals in the Oil & Gas industry to manage and control projects. An in-depth treatment of project uncertainty enables delegates to tackle the economic challenges facing the petroleum industry and use effective risk planning and management techniques to support effective decision-making. This ability to control projects is further enhanced through the establishment of effective project governance systems to establish key performance indicators and measure project progress.

Key highlights of this training course are:

Identification of the stages required in the risk analysis process, i.e., preparing, modeling, and running risk analysis.
Development of the risk model, assessing probabilities to various variables, risk analysis, and explore the impact of uncertain variables.
Enable the participants to perform quantitative risk management techniques and conduct data-driven decision-making using probabilistic profitability indicators.
Exploration of the concept of value and value-driven project management
Definition of key performance indicators, metrics and reporting dashboards
Examination of effective governance mechanisms to support planning, execution (change) and performance management
Application of core planning techniques

This training course is split into two modules:

Module I - Advanced Project Economics, Risk & Decision Analysis
Module II - Project Performance Measurement and Management

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Modules I, and II back-to-back as a 2-week training course.

What are the Goals?

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

Appreciate attitudes to uncertainty and apply decision tree analysis and other risk management techniques
Gain skills in the application of specific risk management simulation software package
Conduct an economic study on petroleum related projects
Use economic terms and concepts applied in the oil & gas industry to select appropriate projects
Create Key Performance Indicators & establish additional metrics to measure the increasingly complex nature of modern projects
Compose effective dashboards and scorecards to report project performance
Apply generally accepted project management techniques to establish and control an integrated project plan baseline

Who is this Training Course for?

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

Planning Managers
Oil & Gas Engineers
Project Managers
Project Management Professionals
Analysts
Commercial Managers
Economists
Government Officials
Geologists
Business Advisors
Asset Managers
E&P Managers
Other key members of oil & gas project teams

How will this Training Course be Presented?

The training course uses a range of approaches to learning, including experiential group activities, individual exercises, mini-case studies, and computer work using PCs to apply risk management approaches. A key part of the learning process is sharing the differing experiences participants bring, as well as experimenting with novel – and sometimes challenging – techniques.

Organisational Impact

By sending delegates on this training course your organization will benefit by:

Enhanced decision-making and time and resource allocation - leading to better organisational and individual performance
Use of a well proven planning process
Increased recognition of key influences impacting oil & gas field developments
Excelling in project management practice and increasing organizational maturity
Equipping employees in refining abilities for project leadership and management
Gaining confidence from customers by having project professionals capable of applying consistent project management techniques and effective progress communication processes

Personal Impact

By attending this training course, you will:

Evaluate investment and design alternatives with decision tree analysis
Gain operational decision making techniques using @Risk
Gain valuable knowledge in identifying the important uncertainties in petroleum projects
Appreciating the need to recognize that value-driven approaches and a focus on “outcomes rather than outputs” is fast becoming the driving force of projects
Familiarize yourself with the PMI PMBOK^® standard which will support any future endeavors in pursuing the widely recognized CAPM^® and PMP^® certifications

Daily Agenda

Module I: Advanced Project Economics, Risk & Decision Analysis

Day 1: Development Economics

A brief history of energy usage
Principles of development economics
Understanding of economic terms
Inflation and its impact on nominal & real cashflows
Project financing

Day 2: Uncertainty in Investments

Handling uncertainty in capital projects
Understanding probability concepts
The expected value concept: features and pitfalls
- Expected Monetary Value (EMV)
- Expected Profitability Index (EPI)
- Expected Opportunity Loss (EOL)

Day 3: Risks and Uncertainties

Risk & uncertainty
Risk aversion and risk premium
Exploration project threats and opportunities
Economic decision criteria
Decision tree analysis
Probability distribution
Monte Carlo simulation

Day 4: Setting-up Spreadsheet Calculations Using Excel

Spreadsheet Calculations
- Cashflow analysis
- Sensitivity analysis calculations
- Tornado diagrams
Introduction to Monte Carlo simulations using @Risk

Day 5: Practical Use of the @Risk Add-On

Developing an integrated economic model
Developing and using an @Risk Model Analysis
Project sensitivity analysis utilizing data from @Risk Model
Training course final review and close

Module II: Project Performance Measurement and Management

Day 6: Building Projects for Success

Project Definitions and Characteristics
The Fundamentals of Project Management
The Importance of Understanding Project Context and Environment
Defining Project Scope
Establishing Project Commercial Viability

Day 7: Planning Projects for Effective Performance Measurement and Management

The Project Planning, Organising, Implementing, and Controlling Sequence
Developing Work and Cost Breakdown Structures
Project Management Roles and Responsibilities
Project Time and Cost Estimating Techniques
Project Schedule Development and Analysis

Day 8: Monitoring, Measuring, and Managing Project Performance

Setting up Project Control Systems
Selecting Appropriate Key Performance Indicators
Monitoring Performance through Earned Value Management
Project Progress Measurement and Analysis
Controlling Project Handover to Operations

Day 9: Maintaining Project Performance through Effective Risk Management

Risk Management Planning
Risk Identification
Risk Analysis
Risk Response Planning
Risk Control and Closure

Day 10: Project Team Building and Stakeholder Management

The Team Development Cycle
Building Effective Project Teams
The Difference between Leadership and Management
The Keys to Effective Influence
Managing Stakeholders and Stakeholder Expectations

Certificate

On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
On successful completion of this PetroKnowledge training course, Certificate with eligible Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates

Accreditation

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Related Categories

Project Management

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CERTIFICATES

A PMI Registered Training Course

The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals

Managing Uncertainty and Value-driven Metrics to Improve Project Performance