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Cost Management - CM - In House Training

PetroSkills
Course summary
5 days
Worldwide
Next available date: Enquire for details - Worldwide
Corporate Training for Teams

Course description

Cost Management - CM

Few problems threaten the petroleum businesses more than uncontrolled costs. Economic realities have made it necessary for most companies to operate with a lean and mean philosophy.

Industries previously operating under regulatory rules, which allowed them to pass on all costs to the customer, now face a changed regulatory environment. As the price of our products fluctuates widely, the most vulnerable companies are those that are ineffective in understanding and managing their costs.

Suitability - Who should attend?

Operating managers, field personnel, project managers, technology managers, budget managers, or practically anyone in the company wanting to manage costs in a more efficient and effective manner. A familiarity with finance is helpful but not required.

Training Course Content

  • Raising your own cost management awareness
  • Defining costs, classifications and terminology in an oil and gas sense
  • Classifying the different costs
  • Determining cost objects, cost drivers and their behaviors
  • Accurately and effectively assigning costs for an E&P company
  • Properly determining the break-even cost and volumes
  • Effectively using variance analysis budget for monitoring performance
  • Analyzing different types of cost management systems
  • Measuring activities and their performance
  • Using Activities Based Management (ABM) to monitor costs and processes
  • Building and using a practical activity dictionary
  • Using value added costs versus non value-added costs for improvement
  • Tying costs to revenues to more effectively measure profits
  • Distinguishing between cost effectiveness and cost efficiencies
  • Using 4 dimensional costs
  • Developing productivity measurements that work
  • Operating Cost Management
  • Using the budgets efficiently and effectively
  • Using GAP analysis in measuring productivity of costs
  • Support departments cost allocations
  • Transfer pricing
  • Measuring and controlling productivity
  • Optimizing costs in the supply chain
  • Capital Cost Management
  • Capital investment decision making and the effect on cost management
  • Developing and analyzing capital investment projects
  • Replace versus maintain
  • Life Cycle Costing
  • Analytical techniques for managing costs
  • Managing personnel, logistics, purchasing and material costs effectively
  • Sensitivity analysis for optimizing costs
  • Using different scenarios to more effectively manage costs
  • Performance measurement
  • Incorporating HSSE into the cost management system
  • Defining preventive and reactive costs

About provider

PetroSkills - Oil & Gas Training Courses

PetroSkills was founded in 2001 as an alliance between BP, Shell and OGCI, aiming to accomplish a mission of vital importance for the future of the Oil & Gas industry. PetroSkills provide high quality professional training and courses that are...


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Contact info

PetroSkills

Tulsa

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www.petroskills.com


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