• Class and Course

    Advanced Cost Estimating and Control for Projects

    This 4 day seminar is designed for project managers with a minimum of three years’ experience who will be expected to lead high value O&G projects.  The emphasis of this experiential course is on the practical application of proven project management best-practices, including the hands-on application of processes, tools and techniques to insure project success.  Particular emphasis is given to students learning how to develop Cost and Schedule Management plans that address the development of realistic cost and schedule estimates, and how monitoring, controlling, re-planning and reporting will be accomplished throughout the project lifecycle. 

    Attendees will gain experience in using tools and techniques that address the specific challenges to these types of projects, including price mechanisms, environmental factors, and risk, procurement, quality, and stakeholder management.  In addition, students will return to their organizations with PMBOK compliant templates for cost, schedule, scope, risk quality and procurement management plans that they may tailor for use on their own projects

    Day 1

    Project Management Overview

    • Key Challenges to O&G projects
    • Project Management Processes
    • Review of Project Planning Workshop Deliverables
    • Integration of the project management lifecycle with O&G project phases

    Participants will understand the unique challenges to O&G Projects and the importance of using project management best practices to enable organizations to realize the business benefits of their projects.

    Day 2

    Front End Loading (FEL) and the Project Execution Plan (PEP)

    • Front End Loading (FEL) and its importance to O&G projects
    • Project Execution Plan Elements
    • Communications & Stakeholder Management
    • Cost Estimation Techniques

    Based on the class case study, participants will identify and analyze project stakeholders, as well as develop a communication plan for each. Afterwards, the attendees will develop a Scope Management Plan and WBS for their case study prior to producing a bottom-up cost estimate and Cost Management Plan.

    Day 3

    The Project Execution Plan, continued

    • Schedule and Schedule Execution Management
    • Contractor Selection and Management
    • Risk Management
    • Quality Management

    Participants will learn how to create realistic project schedules developed from the WBS and create a Schedule Management Plan.  In addition students will learn best practices for procurement, risk, and quality management

    Day 4

    Project Monitor/Control and Project Closing

    • Key concepts impacting cost control
    • Earned Value
    • Milestones, Performance Reporting, and Replanning
    • Project Close

    The course will wrap up with an overview of cost index, price mechanisms, escalation and environmental factors that may impact project/program costs.  There will be several hands-on EVA exercises, discussions on re-planning techniques to bring projects back on-track, and effective status reporting in addition to a simple methodology on how to conduct lessons learned

    Project planners, project managers, line managers, project estimators

    PM Fundamentals or Equivalent

    Bali, Indonesia
    November 11-14, 2024
    • Registration for this class closes on October 28.
    • If registration has closed, use the Contact us form to enquire about this class.

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