Introduction
This 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals 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 GLOMACS 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 training course is split into two modules:
Module I - Advanced Oil & Gas 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 2-week training course.
Objectives
By the end of this GLOMACS training course, you 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
Training Methodology
This GLOMACS, The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals 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
Who should Attend?
This GLOMACS 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
