Project Budgeting & Cost Management Training for Oil & Gas Industry
Course Overview:
In this four days course, you will gain hands-on experience with real-world tools, techniques, and case studies inspired by Oil and Gas projects. Through a blend of practical exercises, industry-aligned theory, and gamified challenges, this workshop will equip you with the skills to plan, estimate, control, and communicate project budgets with confidence and precision.
- Fundamentals of Project Cost Management in oil & gas projects (aligned with PMBOK®)
- Developing a cost management plan integrated with project scope and schedule
- Estimation methods for large capital projects: Analogous, Parametric, Bottom-Up, Three-Point (PERT)
- Cost modeling using Excel, Primavera, and MS Project
- Workshop: Develop a detailed cost estimate for a sample petrochemical or EPC project
Course Roadmap:
Modules Covered:
- Why cost management is critical in oil & gas projects?
- Types of costs (direct vs. indirect, fixed vs. variable, sunk, opportunity, recurring)
- Work Breakdown Structure (WBS) vs. Cost Breakdown Structure (CBS)
- Building cost sensitivity awareness through real case studies
- Introduction to cost performance metrics: AC, BAC, PV, CV
- Workshop & Simulation: WBS Puzzle Game + Estimation Game
- Estimating vs. Budgeting — how they differ in practice?
- Estimation techniques: Bottom-up, Parametric, Analogous, Three-Point
- Reserve analysis (contingency vs. management reserves)
- Developing cost baselines and S-curves
- Project funding requirements and cash flow alignment
- Risk-adjusted budgeting using Monte Carlo simulation
- Workshop & Challenge: Build & Bid Challenge — teams prepare estimates, budgets, and justify bids
- Monitoring project costs with control thresholds
- Earned Value Management (EVM) — CPI, SPI, CV, SV
- Forecasting performance: EAC and ETC (multiple models)
- Variance analysis and escalation triggers in EPC projects
- Trend analysis and scenario planning for petrochemical projects
- Case Studies: Brownfield and greenfield petrochemical project examples
- Workshop: Calculate CPI/SPI, run forecasting models, and recommend corrective actions
- Procurement cost control in EPC, LSTK, and T&M contracts
- Managing procurement variations and cost claims
- Lifecycle costing & Total Cost of Ownership (TCO) in plant investments
- Integrated change control for budget and scope adjustments
- Advanced forecasting techniques and executive-level reporting
- Simulation: Construction & Cost Control Game (team exercise with EAC forecasting)
- Workshop: Apply lifecycle costing and integrated cost control strategies to an oil & gas project
Participants will receive:
- PMOBytes Certificate of Completion
- Official PMI® Certificate with PDUs (through PMOBytes as an Authorized Training Partner)
Who Should Attend?
- Project Managers, Assistant Project Managers, Engineers, Technical Team Leaders, Financial Analysts, Controllers, PMO Professionals
- Project Planners, Procurement Officers, Cost Control Officers, Program Managers, Portfolio Managers, and EPC/FEED/Construction Management Professionals.
Instructor Options:
- 20+ years of Professional Management Experience.
- MBA in MIS (Management of Information systems)
- Certified in PMP, PRINCE2 2009/ 2017, PMI- ACP, MSP, DevOps, ITIL and ISO Auditing from BSI
- Worked on Mega Projects in Qatar from last 10 years
- Peoplecert Authorized trainer for PRINCE2 2017 & DevOps
- Certified PMI-ACP trainer from 360PMO (PMI-REP in Canada)
- Author of Overcoming Project Management problems published on Google books, Amazon, GRIN etc. in multiple languages
- Founder of PMOBytes Consultation and Training
Nabil Alsharif
- 20+ years of Professional Management Experience.
- Managed IT mega projects worth $100M, including FIFA 2022
- Led Digital Transformation for 3,000 buses and 900 taxis, boosting efficiency
- Managed IT Applications stream for Msheireb Smart City
- Certified PMP, CBAP, and ABPMP International
- Specialized in supervising, planning, estimating, and controlling IT projects
WorkShop Experience
Hands-on Training
Case Studies
Fun Learning
Case Studies Covered:
