Strategic Cost Management addresses the processes for designing cost system to achieve high level of organizational performance. The focus of this program is identify oppurtunities to reduce cost, not just for the sake of cost cutting, but to ensure there is a consistency between a cost reduction program and achieving the organizations strategic plan.
By the end of this training course, participants will be able to:
- How to construct an oil & gas budget, process and control to maintain the best performance of the company.
- How to develop capital budgets and allocate capital
- Learn about financing alternatives available to oil and gas companies
- How to develop the company's cost of capital
- What are the various financial issues associated with oil & gas project development, execution and operations
- The participants will learn to use this insight to make better strategic and operational decisions
- The participants will have a better knowledge and skills to applied appropriate cost planning & effective cost control
- New accountants and financial analysts in the oil and gas industry
- Financial risk analysis
- Budget Manager, Project Manager, Project Economic, Project Analysis, Budget Committee, Senior Opertaing.
- Oil and gas company staff, supervisors and managers who need to improve their understanding of budgeting process and how to establish a sound control system.
- Anyone who wish to gain a practical knowledge in budgeting process and control in order to understand the impact of financial issues on project selection and company performance.
Introduction What is Cost Management
- Analysis Concept
- Strategic Analysis VS Conventional Analysis
- The Value chain concept
Introduction to the Budgeting Process
- Budgeting and the managerial process
- Budgeting and the strategic planning process
- Budgeting as an integral element on internal control
Overview the Basic Principles of Strategic Cost Planniing
- Costing & Cost Control Strategic
- Cost Terms, Components and Classification
- Analyzing Cost Flows
- Product Costing System
- Cost Behaviors
Work Program and Budget for Indonesian PSC
- General Procedures and Manual
- Exploration Activities
- Development Activities
- Production Activities
- General Administration and Support Activities
- Financial Summary
Control Process and Operating Decisions
- Varians Analysis
- Management by Exception
- Flexibel Budget & Performance Reporting
Question and Answer Sessions