Strategic Cost Engineering and Optimization in Oil and Gas Projects

1. Develop a sound understanding of the principles, methodologies and industry best practices in Cost Engineering 2. Understand the business context, the project life cycle and the purpose of Cost Engineering in Oil & Gas projects 3. Learn to prepare cost estimates, from high level factor estimating to very detailed equipment and bulk material cost 4. Understand the impact of project location, market environment and project execution strategy on project cost 5. Learn how to control, forecast and report the cost and progress during project execution 6. Develop the skills and knowledge to review and reconcile cost estimates 7. Understand the principles and methodologies of risk analysis and risk management 8. Learn to set-up and maintain risk registers, perform cost & schedule risk analysis and execute risk mitigation 9. Work on real Oil & Gas project case studies to practice all aspects of this master class 10. Develop a sound understanding of the principles, methodologies and industry best practices in Earned Value Management 11. Know how to apply Earned Value to analyse project performance and forecast cost & schedule at project completion 12. Learn to develop and work with work breakdown structures, work packages, project baselines and project forecasts 13. Understand the business context and the purpose of Cost Engineering in Oil & Gas projects 14. Learn how to control, forecast, monitor and report the cost and progress during project execution 15. Work on real Oil & Gas project case studies to practice all aspects of this course

1. Session 01: Estimating Definitions 2. Session 02: Factor Estimating 3. Session 03: Quantity Ratio Estimatinga 4. Session 04: Parametric and Range Estimating 5. Session 05: Detailed Estimating 6. Session 06: Location Factors and Market Factors 7. Session 07: Budgeting 8. Session 08: Contingency Allocation 9. Session 09: Project Control 10. Session 10: Management 11. Session 11: Risk Workshops 12. Session 12: Risk Modeling 13. Session 13: Risk Management 14. Session 14: Cost Risk Analysis 15. Session 15: Schedule risk analysis 16. Session 16: Integrated Cost & Schedule Risk Analysis 17. Session 17: Project Control 18. Session 18: Earned Value Analysis 19. Session 19: Monitoring 20. Session 20: Advanced Earned Value Management