The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals

A PMI Registered Training Course

The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals

Managing Uncertainty and Value-driven Metrics to Improve Project Performance

NASBA PMI
Classroom Schedule
Date Venue Fees
17 - 28 Nov 2025 London $ 11,900
02 - 13 Mar 2026 London $ 11,900
06 - 17 Jul 2026 London $ 11,900
16 - 27 Nov 2026 London $ 11,900

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 the following modules:

Module I - Advanced Project Economics, Risk & Decision Analysis

Module II - Project Performance Measurement and Management

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
Course Outline

Module I: Advanced Project Economics, Risk & Decision Analysis

Day 1

Development Economics

  • A brief history of energy usage
  • Principles of development economics
  • Understanding of economic terms
  • Inflation and its impact on nominal & real cashflows
  • Project financing
Day 2

Uncertainty in Investments

  • Handling uncertainty in capital projects
  • Understanding probability concepts
  • The expected value concept: features and pitfalls
    • Expected Monetary Value (EMV)
    • Expected Profitability Index (EPI)
    • Expected Opportunity Loss (EOL)
Day 3

Risks and Uncertainties

  • Risk & uncertainty
  • Risk aversion and risk premium
  • Exploration project threats and opportunities
  • Economic decision criteria
  • Decision tree analysis
  • Probability distribution
  • Monte Carlo simulation
Day 4

Setting-up Spreadsheet Calculations Using Excel

  • Spreadsheet Calculations
    • Cashflow analysis
    • Sensitivity analysis calculations
    • Tornado diagrams
  • Introduction to Monte Carlo simulations using @Risk
Day 5

Practical Use of the @Risk add-on

  • Developing an integrated economic model
  • Developing and using an @Risk Model Analysis
  • Project sensitivity analysis utilizing data from @Risk Model
  • Training course final review and close

Module II: Project Performance Measurement and Management

Day 6

Building Projects for Success

  • Project Definitions and Characteristics
  • The Fundamentals of Project Management
  • The Importance of Understanding Project Context and Environment
  • Defining Project Scope
  • Establishing Project Commercial Viability
Day 7

Planning Projects for Effective Performance Measurement and Management 

  • The Project Planning, Organising, Implementing, and Controlling Sequence
  • Developing Work and Cost Breakdown Structures
  • Project Management Roles and Responsibilities
  • Project Time and Cost Estimating Techniques
  • Project Schedule Development and Analysis
Day 8

Monitoring, Measuring, and Managing Project Performance 

  • Setting up Project Control Systems
  • Selecting Appropriate Key Performance Indicators
  • Monitoring Performance through Earned Value Management
  • Project Progress Measurement and Analysis
  • Controlling Project Handover to Operations
Day 9

Maintaining Project Performance through Effective Risk Management 

  • Risk Management Planning
  • Risk Identification
  • Risk Analysis
  • Risk Response Planning
  • Risk Control and Closure
Day 10

Project Team Building and Stakeholder Management

  • The Team Development Cycle
  • Building Effective Project Teams
  • The Difference between Leadership and Management
  • The Keys to Effective Influence
  • Managing Stakeholders and Stakeholder Expectations
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
  • The certificate will also have a PMI Course Identifier, which will enable the learners to claim Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI) towards certification or recertification of PMI credentials.
Providers and Associations

Endorsed Education Provider

KHDA
NASBA
PMI

In Association With

Frequently Asked Question:

GLOMACS offers both online andperson training options. You can choose from interactive virtual sessions or attend one of our globally locatedperson training courses. The flexibility ensures that learning fits your schedule and preferences.
Yes, GLOMACS provides customized training solutions tailored to meet the specific needs of organizations. We work closely with companies to design bespoke training courses that address their unique challenges and objectives.
Our courses are structured to provide a balanced mix of theory and practical application. They typically include presentations, case studies, group discussions,on activities, and interactive Q&A sessions to maximize learning outcomes.
For detailed information about specific courses, including course content, schedules, and instructors, you can visit our website or contact our customer service team. They will be happy to provide all the information you need to make an informed decision.
You can register for a GLOMACS training course by visiting our website, selecting the course of your choice, and following the simple registration process. You can also contact our support team for assistance with the registration process.
Attending a GLOMACS training course offers numerous benefits, including enhanced professional skills, increased employability,recognized certification, networking opportunities with peers and experts, and the chance to apply practical knowledge directly to your workplace.
GLOMACS is a globally recognized leader in professional training and development, with a reputation for deliveringquality,driven training courses. We offer a broad spectrum of training courses taught by expert trainers, flexible delivery options (both online andperson), and accredited certifications that add real value to your career.

Yes, upon successful completion of any of our training courses, GLOMACS Certificate will be awarded to the delegates. This certificate is a valuable addition to your professional portfolio and is recognized across various industries.

Options & Brochure
You may also be interested in...
PMI - Project Management Office Certified Professional (PMI-PMOCP)
Mastering PMO Practices for PMI-PMOCP Certification Success
17 - 21 Nov 2025
map Houston
$6,950
View Course
Mastering Project Metrics, KPIs and Dashboard
Maximising Project Value Through Effective Metrics and Dashboard Design
08 - 12 Dec 2025
map London
$5,950
View Course
Certificate in Strategic Project Management
Delivering Projects Successfully and Achieving Strategic Goals
17 - 21 Nov 2025
laptop Online
$3,950
View Course
Project Appraisal, Advanced Cash Flow & Working Capital Management
23 Mar - 03 Apr 2026
map Berlin
$11,900
View Course
Advanced Monitoring and Evaluation of Projects
Enhancing Project Success through Effective Evaluation Techniques
08 - 12 Dec 2025
laptop Online
$3,950
View Course
Artificial Intelligence (AI) in Contract and Project Management
Leveraging AI for Optimized Contracting and Project Delivery
16 - 27 Nov 2025
map Dubai
$13,900
View Course
Construction Management for the Project Professional
How to Optimize Construction Project Time and Cost while Improving Quality
08 - 12 Dec 2025
map Dubai
$5,950
View Course
Primavera P6 Professional Project Management
Enhancing Project efficiency using Oracle Primavera P6 Professional
08 - 12 Dec 2025
map Dubai
$5,950
View Course
Glomacs Training
GLOMACS Training & Consultancy
Typically replies within an hour
Olivia
Hi there 👋
My name is Olivia. Please tell me how I can assist you..
15:30