* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
This Budgeting and cost control training course provides the essential knowledge and skills to enable delegates to successfully control costs; prepare, manage and control budgets effectively in the Oil & Gas industry. It also provides solutions to the strategic issues facing the Oil & Gas industry, recommending sustainable growth strategies in an effective cost control manner.
What Do Participants Learn?
Understand the reasons and impact for oil price volatility
Recommend strategic solutions to budget issues and cost control
Measure and control costs effectively in a competitive environment
Prepare, manage and control budgets in the Oil & Gas Industry
Use budgets to make effective decisions to ensure growth, maintain profitability and reduce risk
Recommend innovative hedging strategies used by leading international companies to control risk and manage budgets effectively
Who Should Attend?
Those responsible for devising budgets, managing and controlling budgets
Those responsible for making or acting on decisions based on budgets
Professionals who require a more in-depth understanding of integrated planning and budgeting techniques
Financial Planners and Cost Analysts
Line heads with direct planning and budgeting responsibility
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
Day 1: The Case for Budgeting & Cost Control in the Oil & Gas Industry
Oil Price Volatility-The Causes and Impact
Major Costs of Acquisition, Exploration, Production and Development
Cost Oil and Profit Oil
The Cost Curve of the Oil Market
Controlling Gross Margins and Net Margins
Managing National Fiscal Budgets
Day 2: Finding Strategic Solutions to Cost Control
Re-assessing the Strategic Plan in the light of recent developments
The need for Growth whilst managing costs
Managing Working Capital and Cash Flow
Evaluating and Managing Capital Projects
Joint ventures; Merger and Acquisition as a solution and growth opportunity
Finance solutions to growing costs and oil price volatility
Day 3: Measuring & Controlling Costs
Cost Classification and Cost Behaviour
Job Process Costing, Batch Costing & Activity Based Costing
Statistical Estimates of Costs
Controlling Fixed and Variable Costs
Earned Value Management
Day 4: Budgeting in the Oil & Gas Industry
The Benefits and Limitations of Budgeting
The Essential Features and Types of Budgets
Preparing Forecasts and Budgets in a volatile Oil & Gas industry
Using Budgets as a Management Tool
Sensitivity, What-if and Break-Even, Analysis
Managing and Controlling Budgets
Day 5: Hedging Costs to Manage the Budget
Defining Hedging and Identifying Costs / Risks to Hedge