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24 - AAU - Accounting and Financial Auditing


AAU 103 - Budgeting and Cost Control for the Oil & Gas Industry

Code Start Date Duration Venue Fees
AAU 103 10 November 2019 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 01 December 2019 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 19 January 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 16 February 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 15 March 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 12 April 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 10 May 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 07 June 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 05 July 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 30 August 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 27 September 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 25 October 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 22 November 2020 5 Days Istanbul $ 3450 Registration Form Link
AAU 103 20 December 2020 5 Days Istanbul $ 3450 Registration Form Link
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Course Description

This course was created to assist project managers to strategically plan, manage and control costs and expenditures while running oil and gas projects. It is supposed to help them avoid cost overruns and remain within the limits of the allowed budget, which might expose the project to the risk of schedule delays and project failure.

It also provides detailed instructions and techniques on how to forecast prices in order to avoid any downturns. These techniques will enable delegates to survive and rescue their companies from any severe changes. Participants are expected to significantly enhance their skills and knowledge and improve their ability to manage and control project progress and expenditure.

 

Course Objectives

  • Being aware of different types of budgets 
  • Predicting the budget you need and stay committed to it 
  • Learning how to monitor and evaluate your performance 
  • Maintaining continuous project and cost performance and delivery control
 

Who Should Attend?

  • Financial specialists
  • Project Controllers
  • Cost Estimators
  • Cost Engineers
  • Project Planners and Schedulers
 

Course Details/Schedule

Day 1

  • Strategic planning and controlling 
  • Basic information you need in this process 
  • Costs of major operations in the oil and gas supply chain 
  • Using balanced scorecards
  • Handling changes in oil prices 

Day 2

  • Types of budgets
  • Potential problems in implementing budgets
  • Authorizations for expenditure
  • Procurement, invoicing, payment cycle and cost control
  • Essential financial considerations: balance sheets, profit, loss, cash flow
 

Day 3

  • Key Performance Indicators (KPI)
  • Budgeting for downtime
  • Corporate, social responsibility (CSR) and community requirements
  • Capitalization and leveraging debt and equity
  • Hedging costs to manage the budget

Day 4

  • Prediction of costs
  • Activity analysis to measure cost functions
  • Cost Behavior and Cost Volume Relationships
  • Controlling fixed & variable costs
  • Earned Value management
  • Variance analysis
 

Day 5

  • Master Budgets
  • Flexible budgets based on volume of sales
  • Milestone monitoring
  • Achievement analysis
  • Identifying growth opportunities