About this Training Course
The two elements which consistently remain at the forefront of every project or an assignment are “Cost” and “Time”. The mechanics of capturing cost can be a challenging task. Project leaders are expected to provide a realistic, reliable and risks adjusted projection of a project’s performance.
This is a practically focused training course with in-built workshops. The course will assist you by walk-through the engineering formulas and equations to become a “professional” in managing estimates, projections, risks, uncertainties and secure financing for high value, high risk projects for the Oil & Gas industry.
This course is developed for the participants to gain comprehensive understanding of the field of Cost Engineering and its impact on the project financing and risk management.
The underlying objectives are:
- Enhance familiarization with mechanics of cost engineering in developing Project Cost Models;
- Gain understanding of diversity in cost modelling in context of Oil & Gas projects;
- Identify risks associated with cost estimates and costing elements, with an objective of minimizing the exposure;
- Appreciate the correlation between cost and schedule, resulting in the delivery of contractual obligations; and
- Develop competency to manage risks of costs and time overrun, by implementing appropriate cost control mechanism.
Expected Learning Outcomes
It is expected that the participants through coursework, lectures and sharing of experiences by hands-on workshop, would have learnt:
- How to create cost management models with built-in, measurable, real-time progress monitoring transmitters;
- Ability to fine-tune cost and schedule for mitigating contract risks;
- Able to use various tools in getting the most optimum cost and schedule mix through simulations and iterations;
- Capability to produce well supported propositions to arrange external financing and satisfying the requirements of Banks and Financial Institutions;
- How to implement the cost control strategies and allow for variations and manage unscheduled events or geo-political developments;
- Good understanding of the underlying cost engineering concepts, principles and methodologies being adopted in Oil & Gas projects.
If you are engaged in Oil & Gas Industry undertaking one or more of the following functions, you can’t afford to miss this course:
- Management Accountants
- Finance Managers
- Cost Controllers
- Project Directors
- Contracts & Projects Managers
- Planners and Risk Managers
Your expert course leader is the practising Chartered Arbitrator and Principal Management Consultant in Singapore and Hong Kong. He specialises in the fields of corporate management consultancy, international contracts reviews and Alternative Dispute Resolutions. Over a 43-year period, He has worked and consulted in the industry verticals encompassing, Oil & Gas majors, EPCIC Contractors, Construction Projects, Shipping, Logistics & Warehousing, and international shipyards. He has also worked as a consultant to the Infrastructure Development Projects, Oil & Gas Pipe Laying Contracts, Ports, Offshore Supply Bases, Shipyards and Owners of Oil & Gas Tankers, Dry Bulkers, Drill Ships, OSVs and FPSO’s.
His consulting expertise traverses through Business Process Re-engineering, Diversifications, Corporate Development, Project Management, Feasibility Studies, Dispute Resolutions and Market Research. He has been engaged for strategic planning, including assignments like due diligence, resolving various operational issues, consortium contracts reviews, cost controls, project management matters and enhancement of procurement and supply chain management systems. He has successfully assisted offshore E & P clients in managing disputes arising from various international EPCIC projects, contracts for rig building, ships upgrading & conversion projects. He continues to be actively engaged in claims reviews, adjudication, mediation, arbitration, litigation and expert witness related assignments, arising from international construction contracts and Charterparty Agreements.
Your expert course leader has held positions of General Manager and Consultant with major Shipyards and Managing Director, General Manager and Senior Manager, with the companies from the construction industry, heavy engineering fabrications, and marine & offshore services sectors. He was responsible for the projects related to the works on Offshore Vessels refurbishment, FPSO Conversions, Gas Tanker Repairs, Process Modules engineering, Lateral Gas and Oil Pipelines’ and other (EPCIC) construction related works. He has developed special methodologies for managing CMGD (Complex, Multiple, Geographically Dispersed) projects.
He graduated with a Bachelor’s Degree in Electrical Engineering, MBA in General Management, Master of Technology in Knowledge Engineering and Master of Science in Maritime Studies. He holds professional qualifications in arbitration law, contract law and marine engineering, including the Chief Engineer’s First Class Certificate of Competency. He is currently engaged in the field of intellectual property, trademarks, copyrights and patents protection related studies and investments treaty related matters.
He is ‘Fellow’, Asian Institute of ADR (‘FAIADR’); Member, Maritime Law Association of Singapore, Fellow, Hong Kong Institute of Directors (FHKIoD) and Member, Singapore Institute of Directors (M.S.I.D.) He is also a Member of Association of International Petroleum Negotiators (AIPN), USA and several other organisations.
He regularly undertakes appointments as Arbitrator for resolving international disputes. He is admitted to the panel of arbitrators with ACICA & AMTAC, Sydney, Australia; AIAC, Malaysia; DIAC, Dubai, (UAE); KCAB, Korea; SCCA, Saudi Arabia; SCMA, Singapore; HKIAC, Hong Kong; LCIA, London, UK; VIAC, Vienna, Austria; ICA, Delhi, India; WIPO Arbitration & Mediation Centre; and Past Member, ICCA, PCA Hague, Netherlands. He is also an empaneled Adjudicator and Mediator with AIAC, Malaysia and Accredited Mediator of CMC, Ministry of Law, Singapore.
Learn what past participants have said about PetroEdge training courses
This training course exceeded my expectations. The instructor is very effective and answers our questions in a simple and easy-to-understand manner. One word ‘Superb’.
Marine Captain, Sarawak Shell
Great and knowledgeable course with the experienced trainer.
Assistant Project Financial Analyst, Oceancare Corporation Sdn Bhd
The trainer is a good consultant and very professional and knowledgeable. He raised my interest in knowing more into maritime laws.
Senior Buyer, Bibby Offshore
Superb presentation by the trainer. Definitely a Guru!
Head of Marine Audit, Icon Offshore
The course has been made successful specifically because of the experience, knowledge, and patience of the trainer.