A Project Management Institute, Inc. (PMI)®Registered Training Course
The 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals
Managing Uncertainty and Value-driven Metrics to
Improve Project Performance
Course Overview
This 10-Day Advanced Project Economics & Performance Management for Oil & Gas Professionals training course addresses the need for professionals in the Oil & Gas industry to manage and control projects. An in-depth treatment of project uncertainty enables delegates to tackle the economic challenges facing the petroleum industry and use effective risk planning and management techniques to support effective decision-making. This ability to control projects is further enhanced through the establishment of effective project governance systems to establish key performance indicators and measure project progress.
Key highlights of this GLOMACS training course are:
- Identification of the stages required in the risk analysis process, i.e., preparing, modeling, and running risk analysis
- Development of the risk model, assessing probabilities to various variables, risk analysis, and explore the impact of uncertain variables
- Enable the participants to perform quantitative risk management techniques and conduct data-driven decision-making using probabilistic profitability indicators
- Exploration of the concept of value and value-driven project management
- Definition of key performance indicators, metrics and reporting dashboards
- Examination of effective governance mechanisms to support planning, execution (change) and performance management
- Application of core planning techniques
Modules
This training course is split into two modules:
Module II - Project Performance Measurement and Management
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Training Objectives
By the end of this GLOMACS training course, you will be able to:
- Appreciate attitudes to uncertainty and apply decision tree analysis and other risk management techniques
- Gain skills in the application of specific risk management simulation software package
- Conduct an economic study on petroleum related projects
- Use economic terms and concepts applied in the oil & gas industry to select appropriate projects
- Create Key Performance Indicators & establish additional metrics to measure the increasingly complex nature of modern projects
- Compose effective dashboards and scorecards to report project performance
- Apply generally accepted project management techniques to establish and control an integrated project plan baseline
Who should Attend?
This GLOMACS training course is suitable to a wide range of professionals but will greatly benefit:
- Planning Managers
- Oil & Gas Engineers
- Project Managers
- Project Management Professionals
- Analysts
- Commercial Managers
- Economists
- Government Officials
- Geologists
- Business Advisors
- Asset Managers
- E&P Managers
- Other key members of oil & gas project teams
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
Training Outline
Module 2: Project Performance Measurement and Management
DAY 1: Building Projects for Success
- Project Definitions and Characteristics
- The Fundamentals of Project Management
- The Importance of Understanding Project Context and Environment
- Defining Project Scope
- Establishing Project Commercial Viability
DAY 2: Planning Projects for Effective Performance Measurement and Management
- The Project Planning, Organising, Implementing, and Controlling Sequence
- Developing Work and Cost Breakdown Structures
- Project Management Roles and Responsibilities
- Project Time and Cost Estimating Techniques
- Project Schedule Development and Analysis
DAY 3: Monitoring, Measuring, and Managing Project Performance
- Setting up Project Control Systems
- Selecting Appropriate Key Performance Indicators
- Monitoring Performance through Earned Value Management
- Project Progress Measurement and Analysis
- Controlling Project Handover to Operations
DAY 4: Maintaining Project Performance through Effective Risk Management
- Risk Management Planning
- Risk Identification
- Risk Analysis
- Risk Response Planning
- Risk Control and Closure
DAY 5: Project Team Building and Stakeholder Management
- The Team Development Cycle
- Building Effective Project Teams
- The Difference between Leadership and Management
- The Keys to Effective Influence
- Managing Stakeholders and Stakeholder Expectations
Certificates
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
GLOMACS is proud to be an Authorized Training Partner (ATP No. 2759) with PMI®. As an ATP, GLOMACS is authorized to issue applicable Professional Development Units (PDUs) and Educational Contact Hours to participants of any of its PMI® approved training courses for PMI® Certification and Re-Certification.
Providers and Associations
Sessions in international locations
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