Cost Planning, Control & Optimization in a Major Oil & Gas Company

Schedule
Jan | Feb | Mar 2022
Duration
5 Days
Difficulty
Intermediate
Methodology
Online Live | Onsite

Overview

Cost control within the Oil & Gas Industry presents certain challenges. Costs must be managed without compromising either safety or production. This innovative 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 training course will help the delegates to save their employers money without damaging the business. This training course will feature practical, engaging and innovative new techniques from different organizations. This development will primarily focus on the software systems used to manage and control operational and capital costs. This training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery or safety.

OBJECTIVES

As a result of this training course, delegates will gain better control of costs and it will provide opportunities for immediate savings and long term sustainable saving for the organizations. Delegates will be engaged, challenged and motivated to make a significant difference within their organizations.
By the end of this 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

TARGET AUDIENCE

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.
• Finance Managers
• Budget holders
• Project Managers
• Professional Engineers
• People providing direct support to the above

COURSE OUTLINE

• Costs and Profit
• Objectives -Mission & Vision – Profit Now v Profit Later
• Strategy and how it guides cost management decisions / Strategy models and costs management
• Cost v Value / Value focused approaches Profit Drivers
• Costs and Cash
• Cash V Profit
• Cost – cash and non-cash
• Cost and Risk
• Introduction to Risk
• Cost and Risk

• Understanding and working with costs
• Cost v 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

• 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
• Software used in OPEX planning and performance monitoring

• Building cash flow 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

• 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

Instructor

Mark Steele

Mark is certified trainer with 20+ years of experience in gulf and London. He has trained batches, corporates, individuals and companies from all over the world.

Enroll Now

Fill out this field
Please enter a valid email address.
Fill out this field
Fill out this field

More courses you might like

Learners who joined this course have also enjoyed these courses.

No results found.
All Courses