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
Scheduled Dates
Classroom
| 07 - 18 Jul 2025 | London - UK | $11,900 | RESERVE A SEAT |
| 17 - 28 Nov 2025 | London - UK | $11,900 | RESERVE A SEAT |
| 02 - 13 Mar 2026 | London - UK | $11,900 | RESERVE A SEAT |
Would an alternative date be more suitable?
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.
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
MODULES
This PetroKnowledge 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 Module 1 and 2 back-to-back as a two-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 1: Advanced Project Economics, Risk & Decision Analysis
Day One: 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 Two: 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 Three: 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 Four: Setting-up Spreadsheet Calculations Using Excel
- Spreadsheet Calculations
- Cashflow analysis
- Sensitivity analysis calculations
- Tornado diagrams
- Introduction to Monte Carlo simulations using @Risk
Day Five: 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 2: Project Performance Measurement and Management
Day Six: 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 Seven: 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 Eight: 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 Nine: Maintaining Project Performance through Effective Risk Management
- Risk Management Planning
- Risk Identification
- Risk Analysis
- Risk Response Planning
- Risk Control and Closure
Day Ten: 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
In Association With
Other Training Courses You Might Be Interested In
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 [email protected]
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 [email protected].
