Description
Course Length: 5 Days
Course Dates:
Course Description:
This course covers the fundamental principles of cost estimation and uncertainty management techniques. Field case studies will be provided to illustrate the field application of the cost estimation and management fundamentals, methods, processes and practices
Who Should Attend:
This course is designed for project engineers, design engineers, consulting engineers, petroleum engineers, facility engineers and senior managers
What You Will Gain:
Understand the financial workings of your company
- Read and explain simple financial statements
- Understand economic evaluation techniques in project proposals
- Calculate the financial viability of expenditure proposals
- Optimize the use of scarce capital on your projects
- Prepare project expenditure proposals that can win management approval
- Make effective decisions under capital rationing situations
- Communicate effectively with your financial managers
- Effectively execute sensitivity studies taking into account risk and uncertainty
Course Outline:
- Introduction to Cost Estimation and Management Concepts
- Accounting Basics and Financial Statements
- Ratio Analysis
- Investment Decisions and Profitability
- Economic Factors
- Cost Accounting
- Cash Flow Concept
- Time Value of Money
- Investment Proposal Ranking Methods
- Capital Management
- Inflation
- Risk and Uncertainties in Economic Evaluation
- Field Case Studies
