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PETROSYNC’S COST ENGINEERING & PROJECT MANAGEMENT SERIES
Your Key To Maximize Business Profitability by Reducing Cost Operation
20—24 March 2017
Kuala Lumpur, Malaysia
SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING| EARNED VALUE MANAGEMENT
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Our Successful Cost Reduction Strategies & Cost Engineering course is developed to help you learn the required techniques in project cost engineering, managing cost reduction and providing scope of improvements to manage project cost and risk successfully. Earned Value Management course is developed to help you learn the principles, methodologies in analysing project performance to contribute to project’s increased performance and success.
COST ENGINEERING & PROJECT MANAGEMENT| SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING |EARNED VALUE MANAGEMENT
How Does This Course Benefit You?
Do you know the skills and knowledge areas of cost engineers are similar to those quantity surveyors?
Understand the business context, the project life cycle and the purpose of cost engineering Learn the methodologies of project cost engineering to maximize business Return on Investment (ROI) in long run Learn to prepare cost estimates & cost reduction strategies Prepare cost estimates from high level factor estimating to very detailed equipment and bulk material cost, as well as managing cost effectively and maximising profits. Understand the principles and methodologies of risk analysis and execute risk mitigation Learn the methodologies of risk management through risk analysis skill to better measure the parameters and uncertainties in a project. Learn the techniques to control, forecast and report the cost and monitor project performance Able to control, forecast and report the cost and progress during project execution. Attain skill to analyse project performance Learn the principles, methodologies and best practices in analysing project performance and to provide accurate cost and schedule forecasting at project completion
Do you know that Earned Value Management was first emerged as financial analysis speciality in US in 1960s, but It has since become a significant branch of project management and cost engineering?
How well are you doing in current oil price? Is everyone aware of costs, managing them effectively to maximise profits? Seeking the optimum balance between cost, quality and time requirements is essential in managing a project. Cost engineering and cost reduction strategies are important in operating practices efficiently to avoid cost overruns and schedule slips, and to deliver step change improvements in running projects. Earned Value Management is important to provide accurate forecasts of project performance problems which is an important contribution for project management.
general@petrosync.com | +65 6415 4500 | www.petrosync.com
Course Overview
Course Design Focuses on Methodologies This course focuses on the cost reduction strategies, methodologies of project cost engineering, risk management and best practices in earned value management .
Includes Specific and Practical Case Studies Participants will be guided through step by step exercises on real oil & gas project case studies through knowledge project parameters and uncertainties.
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COST ENGINEERING & PROJECT MANAGEMENT| SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING |EARNED VALUE MANAGEMENT
PetroSync Distinguished Instructor
Who Needs This Program
Practical & Consulting A certified Cost Engineer and a former board member of the Dutch Association of Cost Engineers. Richard has more than 18 years of industrial experience in consulting oil & gas projects, both upstream and downstream. He worked in various Shell locations including Hague, Netherlands, Malaysia & North America
Training Lecturer of Shell’s Project Academy, Cost Engineering courses and several Shell exploration and production courses.
Selected Clientele List Shell Chevron Petrobas SBM Offshore Petronas Abu Dhabi National Energy Company
Richard Slingerland
Owner and Principal Cost Engineer; Pareto Cost Consultancy BV
This course is designed for cost engineering professionals who wish to enhance their knowledge in cost engineering and earned value management of projects, including:
Job Titles Include:
Cost Engineers Cost Estimators Cost Controllers Project Managers
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Project Engineers Project Planners Finance Managers & Executives
PetroSync Inhouse Solutions
PetroSync can tailor our courses to meet your specific needs at your preferred location and schedule. Contact us for more information at +65 6415 4500 or email to general @petrosync.com
PetroSync Quality Assurance
All PetroSync courses are developed with top quality to address all your training needs and purposes. Our courses are vetted strictly to ensure that we always deliver the best courses with the best industry expert.
general@petrosync.com | +65 6415 4500 | www.petrosync.com
08:00—09:00 Registration (Day 1) 13:00—14:00 Lunch
09:00—11:00 Session I 14:00—15:30 Session III
11:00—11.15 Refreshment Session I 15:30—15:45 Refreshment Session II
11:15—13:00 Session II 15:45—17:00 Session Iv (Last Session)
Course Schedule
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COST ENGINEERING & PROJECT MANAGEMENT| SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING |EARNED VALUE MANAGEMENT
Course Agenda — 5 Days
general@petrosync.com | +65 6415 4500 | www.petrosync.com
DAY 1
Cost Engineering Definitions & Cost Estimating Methodologies Cost Reduction by Scope Optimization & Reduction
Estimating Definitions
Project Life Cycle Purpose of Estimates Accuracy and Probability Allowances Contingency and Escalation Money of the Day/ Real Term Estimating Plan Basis of Estimate
Factor Estimating Definitions, Advantages and Disadvantages Exponent Method Cost per Capacity Method Lang, Hand and Chilton Method Peter-Timmerhaus Method Specific Factor Method
Case Study: Factor Estimating
Quantity Ratio Estimating Definitions, Advantages and Disadvantages Quantity Ratios for Piping Quantity Ratios for Electrical & Instrumentation Quantity Ratios for Structural Steel Quantity Ratios for Civil, Painting & Insulation
Case Study: Quantity Ratio Estimating
DAY 2
Location & Market Factor, Indices, Budgeting & Project Control
Cost Reduction Through Contracting & Procurement Strategies
Detailed Estimating
Discipline Estimating Unit Rates & Sources of Pricing Estimating of Equipment Estimating of Bulk Materials & Construction Cost
Location Factors and Market Factors
How to set up a location factor Location cost surveys Steel and commodity prices Benchmarks Indices Cost Modelling
Case Study: Analysing differences between locations and markets
Budgeting
Setting up a project budget Project baseline Contingency allocation Work breakdown structure Cost breakdown structure Code of accounts Interaction with Contracting & Procurement
Case Study: From Estimate to Budget
Parametric and Range Estimating Nomenclature Pareto’s Law Critical Elements and Key Questions Range Estimating Input and Simulation
Case Study: Building a Parametric Cost Model
Cost Reduction by Scope Optimization & Reduction Cost Awareness & Focus of the Whole Project Team Value Engineering; Optimizing the Scope, Fir-For-Purpose
rather than “Gold-Plated” Target Costing Life Cycle Costing Scope Standardization, Building Blocks,Etc. Value Improvement Practices Defining & Managing Scope
Case Study: Cost Reduction by Scope Optimization
Project Control
Why Cost Control Potential Influences on Costs Pre-requisites for effective cost control Cost control plan and procedures Schedule Control Progress Measurement Earned Value Analysis/ Management Project Controls best practices Integrated Cost & Schedule Control Project Control Tools
Case Study: Earned Value Analysis
Cost Reduction Through Contracting & Procurement Strategies
Contracting Strategies Competitive Bidding & Tendering Incentive Schedules Bid Clarifications, Reconciliation & Negotiations Contract Management
Case Study: Cost Reduction through Contracting & Procurement
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COST ENGINEERING & PROJECT MANAGEMENT| SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING |EARNED VALUE MANAGEMENT
general@petrosync.com | +65 6415 4500 | www.petrosync.com
Advanced Project Control
Management of Change Re-baseline Monthly reports Forecasting Project close-out & lessons learned How to manage project control Total Cost Management
Project Assurance
Estimate Verification and Assurance Estimate Assurance Reviews Client vs Contractor Estimate Reconciliation
Case Study: Project Assurance
Risk Analysis Introduction & Definitions
Definitions & Terminology Risk Register Deterministic Methodology Probabilistic Methodology Risk Analysis Tools Cost Risk Analysis Schedule Risk Analysis Project Risk Management
Case Study: Risk Analysis
Integrated Cost and Schedule Risk Analysis
PERT Critical Path Critical Chain Correlation between cost and schedule risks Essentials of cost and schedule risk analysis Methodology
Case Study: Integrated cost/schedule risk
Cost Reduction through Project Execution & Control
Project Execution Planning Project Controls Planning Managing Interfaces Supply Chain Management Optimized Project Teams Total Cost Management Outsourcing & Offshoring
Case Study: Cost Reduction through Project Execution & Control
DAY 4
Definitions, Objectives, Methodologies and Analysis
Earned Value Analysis
Earned Value Analysis Overview Evaluate Earned Value Techniques Define and Assess Earned Value Cost Variance (CV) and Schedule Variance (SV) Cost and Schedule Performance Indicators (CPI and SPI) Forecasting on Cost and Schedule Different Forecasting Methodologies and Formulas Accuracy of Cost and Schedule Forecasts Generate and Validate Estimate at Completion Cost and Schedule Performance Curves Trend Analysis Productivity Analysis Earned Schedule Analysis
Case Study: Earned Value Analysis
Register For This Course Now!
Kindly fill up your particulars in the registration form placed at the end of this brochure, and send it to us or email to registration@petrosync.com
Course Objectives Course program Case Studies
Definitions and Principles Cost Engineering Definitions Estimates, Budgets and Value Budget and Contingency Allocation Project Baseline Work Breakdown Structure Cost Breakdown Structure Work Packages Allocation of budget to WBS and Work Packages Basic Earned Value Terminology
Case Study: Budget Allocation
Project Control Project Control Objectives Project Control Variables Project Control Methodologies Project Control Cycle Project Control Plan and Procedures Project Control Best Practices Schedule Control Integrated Cost and Schedule Control
Case Study: Project Baseline and Control Sheet
DAY 3
Advanced Project Control, Assurance, Risk Analysis & Management, Cost Reduction through Project Execution & Controls
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COST ENGINEERING & PROJECT MANAGEMENT| SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING |EARNED VALUE MANAGEMENT
general@petrosync.com | +65 6415 4500 | www.petrosync.com
Register For This Course Now!
Kindly fill up your particulars in the registration form placed at the end of this brochure, and send it to us or email to registration@petrosync.com
DAY 5
Monitoring, Reporting & Advanced EVM
Monitoring Elements of Monitoring Productivity Progress Measurement Progress Milestones Monitoring Plan Cost and Schedule Performance Identify the steps used in updating the project statues Understand how predictive performance data is used Controlling/managing engineering cost & schedule Controlling/managing equipment cost & schedule Controlling/managing bulk materials cost &schedule Controlling/managing construction cost & schedule Baseline Schedule Date vs Forecast Date
Case Study: Earned Value Monitoring
Reporting
Reporting Requirements Reporting Calendar Reporting Templates Report on Program Performance using EVMS Best Practices Project Dashboards
Case Study: Project Controls Report and Dashboard
Advanced Earned Value Management Management of Change Problems and Pitfalls Pros and Cons of Earned Value Management Alternatives to Earned Value Management Earned Value vs Value of Work Done Managing Change and re-baseline How to manage Project Control Implementing Earned Value Management Earned Value Management Tools Identify appropriate Work Authorization Levels Use CPI and SPI in project management EVM and related management responsibilities Total Cost Management Project Close-Out & Lessons Learned
Case Study: Advanced Earned Value Management
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Title : Successful Cost Reduction Strategies & Cost Engineering|
Earned Value Management
Date
Location
: 20—24 March, 2017
: Kuala Lumpur, Malaysia
COURSE DETAILS
INVESTMENT PACKAGES (Please Circle)
Group Discount is based on Standard Price *To enjoy the promotion & discount offer, payment must be made before dateline* For 7 or more delegates, please inquire for more attractive package.* Prices include lunches, refreshments and materials. Promotion & discount cannot be combined with other
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COURSE CONSULTANT
Name : Cay Aagen
Email : registration@petrosync.com
Phone : +65 6415 4500
Fax : +65 6415 4322
TERMS AND CONDITIONS
DISCLAIMER Please note that trainers and topics were confirmed at the time of publishing; however, PetroSync may necessitate substitutions, alterations or cancellations of the trainers or topics. As such, PetroSync reserves the right to change or cancel any part of its published courseme due to unforeseen circumstances. Any substitutions or alterations will be updated on our web page as soon as possible.
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DEADLINE CERM Master-class: 3 Days
EVM Master-class: 2 Days
Full Masterclass: 5 Days
Standard Price 3 Mar 2017 USD 2,895 USD 2,395 USD 4,295
Early Bird Offer 3 Feb 2017 USD 2,695 USD 2,195 USD 4,095
Group Discount
(≥3 Delegates) 3 Mar 2017 10% Discount