Developing Project Strategy in the Oil and Gas Industry

introduction
Today, large projects in the oil and gas industry face daunting challenges as they become increasingly complex, innovative and technologically demanding. Project decision and strategy making allows the determination of the basic long-term goals and objectives of an enterprise. It is more and more important that the correct project selection is made, that the benefits are clearly set out and understood at the outset and that the project is planned appropriately to support good delivery.
Objectives
By the end of this GLOMACS training course, participants will learn to:
• Systematically define, design, and integrate end-user requirements in the project decisions
• Understand how the time-value of money techniques help to support decisions
• Identify risk sources and learn how to mitigate potential risks and deal with uncertainty
• Use appropriate tried and tested decision-making tools & techniques

Course Outline
DAY 1
Concepts of Project Management & Intricacies of Project Approval in Oil & Gas Industry
• Projects and Programmed
• Project Life Cycles and Stage Gates
• Project Sanctioning and Approval Process (PSAP) for the Oil & Gas Industry
• Development of the Strategic Project Business Case
• Project Identification – Awareness of Accountability of Project Ideas
• Exploratory Decision Analysis
DAY 2
Project Context For Oil & Gas Projects
• Appreciation of Macro-Environment in Relation to Project Choice
• Understand Who Stakeholders Are and How They May Impact Upon the Project
• Regulatory Framework, Institutional Factors and Infrastructure
• Project Feasibility Decision Makers
• Project Preparation & Planning Responsibilities

DAY 3
Project Financial Modelling and Project Leadership Skills
• Structuring Project Finance Deals
• Financing / Credit Risk Considerations for the Oil & Gas project
• The Time Value of Money – How it applies to project finance
• Yields and Rate of Return – Discounted Cash Flow (DCF) Analysis
• Build an Executive Leadership Style that guides the project toward greater performance and profit
• Understand the Project Organisation in a Typical Oil & Gas Project
• Project Manager – Unique Requirements
DAY 4
identify Reasons for Project Failures & Prepare for Successful Delivery and Integration
• Understand Why Some Projects Fail
• Gain an Understanding of Successful Projects and Analyses Reasons for Success
• Development of the Project Charter
• Define Success Criteria and KPI’s of an example Oil & Gas Project
• Capture Project Requirements
• Understand the Need for a Project Team Approach
• Importance of Communication in an Oil & Gas Project
• Working Collaboratively
DAY 5
Legislation of Relevance to the Compliance Function: Risk Management
• Understanding where disputes are most likely to arise
• Understanding regulatory risk
• The risk management process: What to remember when designing an effective risk management system?
• Opportunities and threats from risk management developments
• Dealing with regulatory issues and enforcement
• Why risk management of legislative breach must be included in compliance framework?
• Key risk areas: financial crime and money laundering, cyber-crime, bribery and corruption, data protection loss
• Best practice risk management techniques