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Objectives

• By the end of this Course participants will be able to:
• Maintain continuous project performance and delivery control .
• Accurately estimate and allocate project costs and resources .
• Measure, forecast and control project performance by employing earned value techniques .
• Manage and mitigate schedule, cost, scope, and resource risks associated with the project .
• Develop a project recovery plan for budget and schedule overruns .

The Delegates

• Cost estimators, project schedulers, project designers, project planner, contracts professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
• Those who are interested in knowing more about estimation and control in a project environment

The Contents

• Introduction and Course overview.
• The Case for Budgeting & Cost Control in the Oil & Gas Industry :
• Oil Price Volatility – The Causes & Impact
• Major Costs of Acquisition, Exploration, Production, & Development
• Cost Oil & Profit Oil
• The Cost Curve of the Oil Market
• Controlling Gross Margins & Net Margins
• Managing National Fiscal Budgets
• Project Estimating Basics
• Basic Project Management definitions
• Triple Constraints – Time, Cost, Scope
• Project Selection Methods
• Defining the Project Scope
• Cost & Schedule Estimation, Cost Budgeting & Control
• Project Schedule Planning and Critical Path Method
• Developing Project Budget & Schedule Control
• Project management inputs to cost budgeting
• Resource Requirements
• Direct & Indirect Project Costs
• Planning and Scheduling Limited Resources
• Options for Accelerating the Schedule
• Crashing the Schedule – How?
• Managing the Risk
• Risk Identification, Analysis & Management
• Contingency Reserve
• PERT, Probability and Standard Deviation Formulae
• Network Activity Risk Profiles
• Application: Estimating Project Duration
• Project Risk Strategies
• Measuring Project Performance
• Balanced Project Schedule without Buffers (Finish-Start) and Inserting Buffers
• Comparison of Unbalanced with Balanced Schedules
• Measuring Planned Progress on Schedule
• Risk distribution in contracting
• Actual Progress and Work Conditions
• Managing Variable Conditions
• Managing and Recovering Project Estimates
• Schedule Variances & Cost Variances
• Progress Control Charts – Trend Analysis
• Schedule and Cost Variance Forecasting
• Schedule and Cost Recovery Analysis
• Schedule and Cost Recovery Plan
• Project Recovery Baselines and Controls
• Course summary.

 

The Discount

10% in case of Three P. (or more)