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Home | Project Management | Developing Project Strategy in the Oil and Gas Industry
Course Schedule
Format Time Fees
12 - 16 Sep 2022 Live / Online 11:00 to 16:00 Dubai [GMT +4] $2,950 Register
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Course Description

Introduction

Today, large projects in the oil and gas industry face daunting challenges as they become increasingly complex, innovative and technologically demanding.  Project decision and strategy making allows the determination of the basic long-term goals and objectives of an enterprise.  It is more and more important that the correct project selection is made, that the benefits are clearly set out and understood at the outset and that the project is planned appropriately to support good delivery.

"If you will begin with certainties, you shall end in doubts, but if you will content to begin with doubts, you shall end in almost certainties." - Francis Bacon

Making good, solid project decisions is extremely important task for organisations, but not an easy thing to do. This GLOMACS Developing Project Strategy in the Oil and Gas Industry online training seminar offers an insight into decision-making procedures in a step-by-step manner. It presents decision-analysis, using different decision criteria, different types of information, and information of varying quality. It covers the analysis of decision alternatives and choices, as well as the goals and objectives that guide decision-making. We will take time to cover the key issues related to a decision-maker's preferences regarding alternatives, criteria for choice, and choice modes, together with relevant risk assessment tools. All key information that will make delivering projects in the oil and gas industry more successful, from the viability of a project to recognising how to measure it with emphasis on timely delivery, cost benefit and value addition, will be discussed.

Key areas covered include:

  • Project Sanctioning and Approval Process (PSAP)
  • Understand structural and systematic aspects of project planning and execution used on Oil and Gas projects
  • Identify with and understand reasons for project failures and successes (using examples)
  • Comprehend how project success is identified and measured
  • Gain familiarisation with Project Financing Methods & Financial modelling   
  • Understanding the need for continual decision-making through the project life cycle

This GLOMACS online training seminar will highlight:

  • The Need to undertake Front End Design & Survey in an Oil & Gas environment
  • How to establish the key requirements necessary to support Oil & Gas project approval
  • How Oil & Gas organisations ascertain the strategic fit and relevant options for project delivery
  • Appropriate Decision-making tools & techniques that have been tried and tested
  • The Importance of behavioural skills in a highly technical environment

Objectives

This GLOMACS Developing Project Strategy in the Oil and Gas Industry virtual training seminar intends to guide successful project selection and delivery.

Criteria to be observed in generating the objectives:

  • Identify with relevant stakeholders and communication needs in the Oil & Gas industry
  • Understand key contextual requirements within the project environment
  • Learn how to use appropriate decision-making tools & techniques that have been tried and tested
  • Accurately estimate and allocate project costs and associated benefits

By the end of this online training seminar, participants will learn to:

  • Systematically define, design, and integrate end-user requirements in the project decisions
  • Understand how the time-value of money techniques help to support decisions
  • Identify risk sources and learn how to mitigate potential risks and deal with uncertainty
  • Use appropriate tried and tested decision-making tools & techniques

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

In the current economic climate with challenges in the Oil and Gas Industry, the need to deliver projects successfully is immense and the ability to make the correct decisions in the appropriate manner is a key skill to allow us to deliver within the constraints, thus delivering profitable results to our organisation.

Personal Impact

The ability to manage a project is a core skill for project managers, but also anyone involved in delivering or leading packages of work in such a complex environment. When carried out properly projects are more predictable, value delivery is enhanced and client satisfaction is increased. Understanding how and when key decisions can be made and recognising the impact that they can make on overall delivery is immense.

Who Should Attend?

This GLOMACS online training seminar is suitable to a wide range of professionals but will greatly benefit:

  • Senior Management Decision Makers
  • Commercial Management
  • Financial Management
  • Project Management Professionals
  • Senior Business Services Professionals who hold responsibility for projects and costs in client and contracting companies

The audience should be positioned to pursue and maintain competitive operational and business efficiency, revenue maximisation and profitability for the organisation.

Course Outline

DAY 1

Concepts of Project Management & Intricacies of Project Approval in Oil & Gas Industry

  • Projects and Programmes
  • Project Life Cycles and Stage Gates
  • Project Sanctioning and Approval Process (PSAP) for the Oil & Gas Industry
  • Development of the Strategic Project Business Case
  • Project Identification – Awareness of Accountability of Project Ideas
  • Exploratory Decision Analysis

DAY 2

Project Context For Oil & Gas Projects

  • Appreciation of Macro-Environment in Relation to Project Choice
  • Understand Who Stakeholders Are and How They May Impact Upon the Project
  • Regulatory Framework, Institutional Factors and Infrastructure
  • Project Feasibility Decision Makers
  • Project Preparation & Planning Responsibilities

DAY 3

Project Financial Modelling and Project Leadership Skills

  • Structuring Project Finance Deals
  • Financing / Credit Risk Considerations for the Oil & Gas project
  • The Time Value of Money – How it applies to project finance
  • Yields and Rate of Return - Discounted Cash Flow (DCF) Analysis
  • Build an Executive Leadership Style that guides the project toward greater performance and profit
  • Understand the Project Organisation in a Typical Oil & Gas Project
  • Project Manager – Unique Requirements

DAY 4

Identify Reasons For Project Failures & Prepare for Successful Delivery and Integration

  • Understand Why Some Projects Fail
  • Gain an Understanding of Successful Projects and Analyse Reasons for Success
  • Development of the Project Charter
  • Define Success Criteria and KPI’s of an example Oil & Gas Project
  • Capture Project Requirements
  • Understand the Need for a Project Team Approach
  • Importance of Communication in an Oil & Gas Project
  • Working Collaboratively

DAY 5

Development Project Stakeholder Relationships & Project Communication

  • Identify and Plan to Engage with the Project’s Key Stakeholders
  • Creating Project Dashboards
  • Presenting Decisions to the Project Board
  • Recognising Need for Project Recovery
  • Control Decision-making
Certificates
  • On successful completion of this training course, GLOMACS E-Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Providers and Associations

Endorsed Education Provider

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A PMI registered mark

In Association With

PetroKnowledge

PetroKnowledge

Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients

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