Training Course on Project Controls and Cost Management in Oil and Gas

Training Course on Project Controls & Cost Management in Oil & Gas (O&G)

Introduction

In the dynamic and capital-intensive Oil & Gas (O&G) industry, robust Project Controls & Cost Management systems are crucial for delivering projects on time and within budget. Training Course on Project Controls & Cost Management in Oil & Gas (O&G) equips professionals with cutting-edge tools, best practices, and techniques that align with global standards such as AACE, PMI, and IPA benchmarks. By mastering cost estimation, budgeting, forecasting, scheduling, and performance analysis, participants will gain the confidence to optimize resources, mitigate risks, and maximize ROI across upstream, midstream, and downstream projects.

This hands-on, industry-driven training leverages real-world case studies, earned value management (EVM), digital cost control tools, and integrated planning techniques. It is specifically tailored to meet the complex challenges faced in offshore platforms, refinery expansions, pipeline developments, and LNG megaprojects. Participants will leave with actionable skills and strategies to elevate project governance, capital efficiency, and stakeholder alignment.

Course Objectives

1. Understand the fundamentals of Project Controls in Oil & Gas Projects
2. Master Cost Estimation Techniques using industry benchmarks and parametric modeling
3. Apply Budgeting and Cost Control Strategies in complex energy projects
4. Utilize Earned Value Management (EVM) for real-time performance tracking
5. Learn to manage Change Orders and Claims efficiently
6. Analyze Project Schedules with Critical Path Method (CPM) and P6 software
7. Implement Forecasting and Cash Flow Management in volatile market environments
8. Leverage Digital Tools for Project Cost Analytics (AI, BIM, Power BI)
9. Enhance Risk Management through integrated cost and schedule risk analysis
10. Improve Project Reporting and Dashboarding for better decision-making
11. Apply Value Engineering and Cost Optimization principles
12. Integrate Procurement and Contracts into Cost Control Systems
13. Align cost management with Sustainability and ESG Compliance in O&G

Target Audiences

1. Project Managers
2. Cost Engineers
3. Planning Engineers
4. Construction Managers
5. Finance & Budget Officers
6. Procurement Specialists
7. Contract Administrators
8. Oil & Gas Executives & Consultants

Course Duration: 5 days

Course Modules

Module 1: Project Controls Framework in Oil & Gas

• Definition and scope of project controls
• Integration of cost, time, and quality
• Key stakeholders and governance models
• O&G project lifecycle mapping
• Tools and systems for control frameworks
• Case Study: Implementation of integrated project controls in a $2B offshore platform

Module 2: Advanced Cost Estimation Techniques

• Bottom-up vs top-down estimation
• Class 1 to Class 5 estimate classifications (AACE standards)
• Factor estimating and analogous methods
• Software tools: Aspen, Cleopatra, Sage Estimating
• Challenges in estimating CAPEX and OPEX in O&G
• Case Study: Cost overruns in refinery expansion and how they were mitigated

Module 3: Budgeting, Control & Earned Value Management (EVM)

• Developing and managing project budgets
• Control accounts and work breakdown structures (WBS)
• Earned Value metrics: CPI, SPI, ETC, EAC
• Variance analysis and recovery plans
• EVM automation tools (Primavera, EcoSys)
• Case Study: EVM success in LNG facility construction

Module 4: Scheduling, Planning & Forecasting

• Project scheduling fundamentals (CPM, Gantt, milestone)
• Schedule risk analysis and Monte Carlo simulations
• Primavera P6 and MS Project hands-on practices
• Forecasting techniques for cost and schedule
• Managing time-cost trade-offs
• Case Study: Schedule slippage recovery in pipeline development

Module 5: Change Management & Claims Control

• Types of project changes and their causes
• Change control process and tools
• Claims management lifecycle
• Delay analysis methods and documentation
• FIDIC and NEC3 contract integration
• Case Study: Claims dispute resolution in deepwater drilling

Module 6: Cost Risk Analysis and Contingency Planning

• Identifying and quantifying cost risks
• Risk registers and probability-impact matrices
• Monte Carlo simulation for cost risk
• Determining and managing contingency reserves
• Linking schedule and cost risk (QSRA/QCRA)
• Case Study: Risk-based contingency in arctic exploration

Module 7: Reporting, Dashboards & Performance Analytics

• KPI development and alignment
• Designing effective dashboards using Power BI
• Automated reporting in Primavera and SAP
• Visualization of earned value and trends
• Communicating insights to stakeholders
• Case Study: Real-time reporting in mega refinery project

Module 8: Sustainability, ESG & Value Optimization

• Linking cost control with ESG objectives
• Green budgeting and lifecycle costing
• Sustainable procurement practices
• Value engineering workshops
• Circular economy principles in O&G projects
• Case Study: ESG-aligned cost savings in petrochemical plant revamp

Training Methodology

• Instructor-led sessions with real-world O&G project scenarios
• Hands-on workshops using Primavera, Power BI, and cost estimation tools
• Group exercises, breakout discussions, and collaborative planning
• Case study reviews and lessons learned from global O&G projects
• Pre- and post-assessments to measure skill acquisition

Register as a group from 3 participants for a Discount

Send us an email: info@fineskilltrainingcenter.com or call +254769199797 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to FINESKILL TRAINING CENTER account, as indicated in the invoice so as to enable us prepare better for you.