About this Virtual Instructor Led Training (VILT)
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 5 half-day Virtual Instructor Led Training (VILT) course with in-built workshops is developed to assist you in walking 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 both On-shore and Offshore Oil & Gas industry segments.
This VILT 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 Offshore and Onshore Oil & Gas projects;
- Identify risks associated with cost estimates and costing elements for 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 from this Virtual Instructor Led Training (VILT)
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 key aspects which provide differentiation between offshore and onshore projects, so as to modify the cost models accordingly; and
- Good understanding of the underlying cost engineering concepts, principles and methodologies being adopted in Oil & Gas projects.
If you are responsible for undertaking one or more of the following functions in the Oil & Gas Industry, you can’t afford to miss this training: Management Accountants, Finance Managers, Cost Controllers, Project Directors, Contracts & Projects Managers, Estimators, Planners and Risk Managers.
The VILT course will be delivered online in 5 half-day sessions comprising 4 hours per day, with 2 breaks of 10 minutes per day. Course Duration: 5 half-day sessions, 4 hours per session (20 hours in total).
To further optimise your learning experience from our courses, we also offer individualized “One to One” coaching support for 2 hours post training. We can help improve your competence in your chosen area of interest, based on your learning needs and available hours. This is a great opportunity to improve your capability and confidence in a particular area of expertise. It will be delivered over a secure video conference call by one of our senior trainers. They will work with you to create a tailor-made coaching program that will help you achieve your goals faster.
Request for further information about post training coaching support and fees applicable for this.
Learn what past participants have said about EnergyEdge training courses
Very knowledgeable trainer who constantly engages with the class!
Planning and Cost Engineer, Petra Energy Berhad
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.