Course Description

Rationale:

The course will provide the critical understanding and skills to facilitate delegates to effectively manage costs; organize, handle and control budgets. It also afford answer to the premeditated issues facing the Oil & Gas Industry, enabling participants to successfully managing existing projects and suggest sustainable growth policies  in a professional and cost effective manner.

This course will feature:

• A meticulous understanding of costing as well as budgeting in the Oil & Gas industry, centering on foremost international practice
• Assessment and valuation of the most up-to-date techniques
• Skills advancement by way of interactive sessions
• Key dialogue of strategic and operational concerns presently facing the Oil & Gas industry

Course Objectives

At the end of this course, delegates will be able to;

• Comprehend the grounds and impact of oil price and demand unpredictability
• Advise strategic solutions to budget concerns
• Evaluate as well as manage costs efficiently in an aggressive situation
• Plan, handle and control budgets in the Oil & Gas sector
• Utilize budgets to make useful decisions to guarantee growth, uphold profitability as well as reduce risk
• Advise novel hedging approach used by leading international companies to have power over risk and manage budgets efficiently
• Handle projects as well as contracts via the most modern international techniques

Course Outline

• Oil Price instability – The Causes and Impact
• Major Costs in the Oil & Gas subdivision
• Controlling Gross Margins as well as Net Margins
• Cost Classification as well as Cost Behaviour
• Scheming Fixed as well as Variable Cost and Activity Based Costing
• Re-assessing the Strategic Plan in the light of modern advancement
• The crave for Growth at the same time as administering on costs
• Administrating Working Capital as well as Cash Flow
• Evaluating and overseeing Capital Projects, NPV, IRR and Payback
• Joint ventures; Merger Acquisition as an enlightenment as well as growth outlook
• Finance resolutions as well as to mounting costs and oil price instability
• The remuneration as well as limitations of Budgeting
• The significant Features as well as Types of Budgets
• Categorizing Forecasts and Budgets in a volatile Oil & Gas trade
• By means of Budgets as a Management Tool
• Sensitivity; What-if as well as Break-Even Analysis
• Organizing and calculating Budgets
• Realizing Efficiency of Time, Costs and Quality
• Statistical approximation of Activity Duration as well as Costs
• Significant Path Analysis
• Manpower and Resource scheduling as well as Management
• Earned Value Management
• Supervising Project Risks

Who Should Attend?

• Key personnel concerned in Cost Control, Budgeting, Project and Risk Management
• Non-technical professionals who have need of a financial perspective of Strategic Management, Budgeting and Project Management
• Financial Controllers as well as Internal Auditors
• Individuals who desire to pass their skills and perceptive up to international standards
• Professionals by way of a desire to advance both, their own and their organisations strategic decisions

Delivery Method:

The programme will be delivered using the following methodologies: Lectures, discussions, syndicate work, case studies, audio visuals and exercises.

Course Venue:  

Course Fee:  

Course Duration: 1 Week

Course Date: November 28th-December 2nd, 2022