Our instructor Matilde Giulianelli discusses all things cost management.
"When one thinks of cost management, usually the focus is on cost reduction, but this is a narrow view of the issue…it is much more complex than that! Our course takes a very wide view of the topic, introducing the Cost Management Framework: a coordinated action plan looking at cost management from different angles, starting from the knowledge and classification of costs, the planning and budgeting, the connection between costs and revenues looking not at costs in isolation but at the cost/benefit balance, the contractual strategies available for cost optimization, the recovery of costs in the PSC, the accountability and performance evaluation….and yes, the cost reduction as well.
The delegates have appreciated this holistic approach which gave them a view of how actions, tools and strategies interact with each other and have been very interested in the real-life examples and exercises used to show the practical application of the teaching. For them it was a real eye-opener. Oil and Gas is a business which develops on long term, to see the whole cycle you must work in the industry for many years…or take advantage of the 35+ years of industry experience of an MDT trainer!"
You can book your place on the next E&P Cost Control, Budgeting & Cost Estimating course in Aberdeen by clicking here.