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

Enhancing Your Financial Skills to Increase Your Business Potential in The Oil & Gas Sector

Format availability:

In-Person

Duration:

5 Days

Introduction to the course

Cost control within the Oil & Gas Industry presents specific challenges. Costs must be managed without compromising either safety or production. This innovative KC Academy Cost Planning, Control & Optimization in a Major Oil & Gas Company online 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 online training course will help the delegates to save their employers money without damaging the business. This Cost Planning, Control & Optimization in a Major Oil & Gas Company training course will feature different organisations' practical, engaging, and innovative techniques. This training course will also help the delegates to identify and deliver savings without damaging performance, capability, strategy, delivery, or safety.

Course details

As a result of this Cost Planning, Control & Optimization in a Major Oil & Gas Company training course, delegates will better control costs. It will provide opportunities for immediate savings and long term sustainable savings for the organisations. Representatives will be engaged, challenged, and motivated to make a significant difference within their organisations.

By the end of this KC Academy 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

By attending this KC Academy Cost Planning, Control & Optimization in a Major Oil & Gas Company training course, participants will provide benefits for their organisation through the following:

  • Participants will develop a set of transferable skills that will improve their powers of cost planning, helping the company to increase profit improve cash flow whilst minimising costs and risk
  • The new skills will allow them to make more informed and hence better management decisions
  • Using practical case studies and illustrations of actual companies will help delegates understand how to apply different planning, forecasting and analysis techniques in a work situation.
  • The knowledge gained can be shared amongst other departments of the company to improve the financial culture of the entire organisation.
  • Strategic Thinking and Appreciation of the links between costing, budgets, and Strategic Financial Plans
  • Application of Effective Forecasting Techniques
  • Identification of the most appropriate Financing and Optimal Capital Structures
  • Development of Modern Approaches to Costing, Planning, Budgeting and Budgetary control
  • Capital Investment appraisal, Cash Forecasting and Budgeting

  • Develop an understanding of today's significant issues in cost planning and control
  • Develop your professional skills, powers of analysis, evaluation, and decision-making
  • Be able to make more informed and hence better planning, budgeting, and cost reduction techniques.
  • Make improved finance and capital budgeting decisions, which will increase your importance to your organisation.
  • Absorption Costing, Marginal Costing and Cost-Volume-Profit (CVP) Analysis, Activity Based Costing (ABC), and Activity-Based Management (ABM)
  • Application of Discounted Cash Flow (DCF) techniques of Present Net Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), Equivalent Annual Cost (EAC), and the Profitability Index (PI) for Capital Project Investment Appraisal and Capital Budgeting
  • Be able to identify areas in which they may be able to contribute to improvements in your company's financial performance, which will help improve your career development.

This KC Academy Cost Planning, Control & Optimization in a Major Oil & Gas Company training course is essential for many professionals but especially for managers with financial responsibility for departments or projects or those 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

Daily Agenda

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
  • OPEX Planning and Performance Monitoring
  • Software Used in OPEX Planning and Performance
DAY 4:
Investment Appraisal and Projects – Capital Budgeting 
  • Building Cashflow 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

Professional certificate & Accreditation

This Cost Planning, Control & Optimization in a Major Oil & Gas Company training course will feature practical, engaging, and innovative techniques from different organisations.

Frequently Asked Questions

There are no prerequisites. Our courses are open to students of all backgrounds who are 18 years of age and older. All courses are conducted in English. Video lectures include English subtitles and the option to slow-down, pause, or replay lectures for better retention. Discussion boards are a critical component of each of our courses; therefore, we suggest students have a conversational knowledge of English when pursuing a Certificate of Completion. For any of the art writing courses, students need to be 100% proficient in written English.

You should have an up-to-date web browser such as: Chrome, Safari, Firefox, or Internet Explorer. For more detailed information, please see the guides for supported browsers and basic computer specifications. Our Online Courses can be accessed on a mobile or tablet device, although we strongly encourage you to have access to a desktop or laptop computer and reliable internet connection for certain course components. Former students have told us it is easiest to read discussion threads and complete written assignments on a laptop or desktop computer.

Registration is available on our website. Just follow these simple steps: Click the “Apply Now” button in the top right corner of your screen. Select “Online Courses.” Choose your course(s). You will be asked for basic contact information and your credit card payment. We require full payment at the time of registration and all tuition is billed in US dollars. Be sure to check with your bank or credit card company, as your financial institution may charge a foreign transaction fee.

Our classes are kept small, at no more than 30 students, to better facilitate and encourage personalized interaction with the instructor and fellow participants. Your classmates come from all over the globe and contribute their global perspectives and experience. Some are currently working within the arts while others are just beginning. All classmates share in their passion for the art world.

It is recommended that you begin your course promptly. If you do need to start the course a few days late, contact your instructor as soon as possible after the course has opened to discuss your options. Registration closes on the Friday after the course begins.

Enroll now

Click on a date to enroll and save your seat
Dubai
27 Feb-03 Mar 2023
Fee: $5,950
Cairo
22-26 May 2023
Fee: $5,950
London
21-25 Aug 2023
Fee: $5,950
Dubai
06-10 Nov 2023
Fee: $5,950
Course customization available
Course customization available

This training course is available to be conducted at your own page, at your own time. Request for a quotation now, our training advisor will contact you promptly

    KC Academy
    Typically replies within an hour

    Lily
    Hi there 👋
    My name is Lily. Please tell me how I can assist you..
    1:40
    ×
    Chat with Us