Code Date Venue Fees
FI088 11 - 15 Nov 2018 Dubai - UAE $4,750 Register
Home » Seminars » Finance & Budgeting » Cost Planning, Control & Optimization in a Major Oil & Gas Company

Introduction

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 GLOMACS 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 organisations. 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 organisations. 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

Training Methodology

Formal trainer led input will be mixed with discussion, case studies, exercises, games and videos and excel models. The 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

Who Should Attend?

This GLOMACS 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 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

Seminar Outline

Day 1

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 2

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 3

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
  • Software used in OPEX planning and performance monitoring

Day 4

Investment Appraisal and Projects – Capital Budgeting 

  • 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

Day 5

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

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.






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


Upcoming Dates

Code Date Venue Fees
FI088 11 - 15 Nov 2018 Dubai - UAE $4,750

Introduction

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 GLOMACS 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 organisations. 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 organisations. 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

Training Methodology

Formal trainer led input will be mixed with discussion, case studies, exercises, games and videos and excel models. The 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

Who Should Attend?

This GLOMACS 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 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

SEMINAR OUTLINE

Day 1

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 2

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 3

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
  • Software used in OPEX planning and performance monitoring

Day 4

Investment Appraisal and Projects – Capital Budgeting 

  • 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

Day 5

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

Quality Logo

GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

 

All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.



© 2017. Material published by GLOMACS shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

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Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.ae

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