SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING EARNED VALUE MANAGEMENT

Transcription

1 PETROSYNC S COST ENGINEERING & PROJECT MANAGEMENT SERIES SUCCESSFUL COST REDUCTION STRATEGIES & COST ENGINEERING EARNED VALUE MANAGEMENT Your Key To Maximize Business Profitability by Reducing Cost Operation March 2017 Kuala Lumpur, Malaysia Supported By

2 Course Overview 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. 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. 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. How Does This Course Benefit You? 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 the skills and knowledge areas of cost engineers are similar to those quantity surveyors? 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? 2

3 PetroSync Distinguished Instructor Richard Slingerland Owner and Principal Cost Engineer; Pareto Cost Consultancy BV 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 Who Needs This Program 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 XXX Project Engineers Project Planners Finance Managers & Executives Course Schedule 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: Refreshment Session I 15:30 15:45 Refreshment Session II 11:15 13:00 Session II 15:45 17:00 Session Iv (Last Session) 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. 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 or to 3

4 Course Agenda 5 Days 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 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 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 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 4

5 DAY 3 Advanced Project Control, Assurance, Risk Analysis & Management, Cost Reduction through Project Execution & Controls 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 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 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 to registration@petrosync.com 5

6 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 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 to registration@petrosync.com 6

7 COURSE DETAILS Title Date Location By Credit Card: Please debit my credit card: Visa MasterCard AMEX Security Code: Card Number: Expiry Date: Name Printed on Card: : Successful Cost Reduction Strategies & Cost Engineering Earned Value Management : March, 2017 : Kuala Lumpur, Malaysia INVESTMENT PACKAGES (Please Circle) INVESTMENT PACKAGE 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 promotional offers. 1st Delegate Name: Job Title: Head of Department: 2nd Delegate Name: Job Title: Head of Department: 3rd Delegate Name: Job Title: Head of Department: Attention Invoice to: Company: Address: Country: DEADLINE CERM Masterclass: 3 Days DELEGATES DETAILS Department: Department: Department: INVOICE DETAILS Mr Mrs Ms Dr Others By Direct Transfer: Please quote invoice number(s) on remittance advice PetroSync Global Pte Ltd Bank Details: Account Name: PetroSync Global Pte Ltd Bank Name: DBS Bank Ltd Bank Code: 7171 Bank Swift Code: DBSSSGSGXXX Branch Code: 288 Account No: SGD: USD: Bank Address: 12 Marina Boulevard, Level 3. Marina Bay Financial Centre Tower 3. Singapore All bank charges to be borne by payer. Please ensure that PetroSync Global Pte Ltd receives the full invoiced amount. Fax: Industry: Mr Mrs Ms Dr Others Mr Mrs Ms Dr Others Postcode: Please note: - Indicate if you have already registered by Phone Fax Web - If you have not received an acknowledgement before the training, please call us to confirm your booking. PAYMENT METHOD EVM Masterclass: 2 Days CONFIRMATION 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 % Discount COURSE CONSULTANT Name Cay Aagen : registration@petrosync.com Phone : Fax : 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. DATA PROTECTION The information you provide will be safeguarded by PetroSync that may be used to keep you informed of relevant products and services. As an international group we may transfer your data on a global basis for the purpose indicated above. If you do not want us to share your information with other reputable companies, please tick this box CANCELLATION POLICY You may substitute delegates at any time as long as reasonable advance notice is given to PetroSync. For any cancellation received in writing not less than fourteen (14) working days prior to the training course, you will receive credit voucher less a SGD $200 administration fee and any related bank or credit card charges. Delegates who cancel less than fourteen (14) working days of the training course, or who do not attend the course, are liable to pay the full course fee and no refunds will be granted. In the event that PetroSync cancels or postpones an event for any reason and that the delegate is unable or unwilling to attend in on the rescheduled date, you will receive a credit voucher for 100% of the contract fee paid. You may use this credit voucher for another PetroSync to be mutually agreed with PetroSync, which must occur within a year from the date of postponement. PetroSync is not responsible for any loss or damage as a result of the cancellation policy. PetroSync will assume no liability whatsoever in the event this event is cancelled, rescheduled or postponed due to any Act of God, fire, act of government or state, war, civil commotion, insurrection, embargo, industrial action, or any other reason beyond management control. CERTIFICATE OF ATTENDANCE 70% attendance is required for PetroSync s Certificate of Attendance DETAILS Please accept our apologies for mail or that is incorrectly addressed. Please us at registration@petrosync.com and inform us of any incorrect details. We will amend them accordingly. CHARGES & FEE(S) - For Payment by Direct Telegraphic Transfer, client has to bear both local and oversea bank charges. - For credit card payment, there is additional 4% credit card processing fee. I agree to PetroSync s terms & conditions, payment terms and cancellation policy. Authorized Signature: PAYMENT TERMS : Payment is due in full at the time of registration. Full payment is mandatory for event attendance. 7