Large capital-intensive projects in the oil and gas industries require substantial - and mostly risky - investments in the acquisition, exploration, and subsequent operation and maintenance of new organizational assets.
The decision of whether or not to invest in new capital projects in the oil and gas industry starts with critical decisions during the exploration phase of new development or the expansion of an existing field. The decision-making tools used to analyze project risk under conditions of uncertainty will help companies to determine the probability of success or loss and will drive the decision to develop or abandon the well.
Of paramount importance, therefore, is the systematic and comprehensive evaluation of potential investments, and the development of detailed cash-flow analyses to determine as accurately as possible, the expected returns to the organization under varying conditions of uncertainty over the expected productive life of the project.
This requires the development of sound, realistic, and carefully structured cash-flow projections, reflecting both the initial capital expenditures required for the acquisition of the asset, as well as the operational expenditures required for successful operation and maintenance of the asset over its anticipated productive life.
World-wide an alarming number of large capital projects fail to meet or overrun their planned budgets, failing to realize both the financial and strategic goals of the organization - the very reason for their being undertaken in the first place - often with sizable increases in capital and operational expenditures, and with substantial financial losses to the organization. In the majority of cases, this is the inevitable consequence of failing to apply the tools and techniques of modern project decision-making, evaluation, financial planning, capital management, and cash flow analysis when considering investment into new capital projects.
At the end of this course the participants will be able to:
The move to team leader or line manager is a significant change for a supervisor or technical specialist. Balancing wider organizational and customer demands with the needs of the team call for a wide range of skills, and the ability and confidence to know when to stand back from operational pressures and understand the bigger picture.
During the planning process, the temptation is always to spend most of the time working on the business, discussing the big picture strategic plans and breakthrough developments that are critical to the future of the company. Only looking at long-term plans ignores a critical part of the planning process: Defining the annual goals and key performance indicators, KPIs, which will be relevant in the day-to-day running of the business to turn those high-level goals into reality. This may seem too detailed of an exercise to make it a big part of your annual strategy meeting, but it requires just as much focus and attention as your big-picture plans if they are ever going to be realized.
Corporate Governance is now one of the hottest topics in the business world. It is both a regulatory requirement and a business enabler. But do you know whether your Corporate Governance activities are extracting maximum value? If not, this is probably because your Internal Audit team has not assessed this key topic. This audit approach is crucial as the Board and the Audit Committee need comprehensive assurance about this strategic business process. This course will provide all the tools and techniques essential to audit the complex and wide-ranging field of Corporate Governance. It will help you ensure that you are applying the very best practices and meet all regulatory requirements
Health policy in much of the developed world is concerned with assessing and improving the quality of health care. But how are quality improvements to be wrought in such a complex system as health care? A recent issue of Quality in Health Care was devoted to considerations of organizational change in health care, calling it “the key to quality improvement”.In discussing how such change can be managed, and articles that cultural change needs to be wrought alongside structural reorganization and systems reform to bring about “a culture in which excellence can flourish”. A review of policy changes over the past two decades shows that these appeals for cultural change are not new but have appeared in various guises. However, talk of “culture” and “culture change” begs some difficult questions about the nature of the underlying substrate to which change programs are applied.
Through risk management, decision-making, and performance improvement utilizing ISO 31000 criteria, participants in the ISO 31000 Lead Risk Manager training course may help a company create and protect value by developing their competencies in these areas. It offers details on the fundamental components, the efficient use of a risk management framework, the use of the risk management process, and the steps required for the proper integration of these components to achieve corporate goals. Additionally, it offers recommendations for the choice and use of methods for evaluating risks in a variety of circumstances.
This API 571 training course is conducted for all professionals who are interested in understanding deeply the different types of corrosion, cracking and other damage mechanisms that their equipment may suffer or face in service. The following assets and equipment may suffer from damage mechanisms derived thorough API 571: All of process piping designed according ASME B31.3 & inspected according to API 570 All of Pressure Vessels designed according ASME Sec VIII & inspected according to API 510 All of Tanks inspected designed according to API 650 & inspected according API 653 This training course will demonstrate deeply all the 66 damage mechanisms contained in the recommended practices API 571. The damage mechanisms in this recommended practice cover situations encountered in the refining and petrochemical industry in pressure vessels, piping, and tankage. The damage mechanism descriptions are not intended to provide a definitive guideline for every possible situation that may be encountered, and the reader may need to consult with an engineer familiar with applicable degradation modes and failure mechanisms, particularly those that apply in special cases.