Oil & Gas Budgeting And Forecasting Best Practices
In today's highly competitive and increasingly uncertain environment, it is now imperative for Oil & Gas companies to forecast more accurately and also more frequently. In a recent survey by the CFO Journal, over 70% of Chief Financial Officers (CFOs) stated that improving their forecasting, planning and analysis processes was their number one priority.
It is clear that the old ways of doing things is not sustainable and cannot continue.
This 2-day training course provides participants with a solid introduction to the principles of budgeting and forecasting and the practical application of these to real-world situations.
The course also shows how to apply the principles and best practices learned to Oil & Gas budgets for companies and projects. It is designed for participants who are new to budgeting and forecasting, and those who have been in operating in this role for some time but would like to update their knowledge to the latest in financial planning and analysis practices.
Lastly, the course addresses the internal issues that arise in large companies: politics, remuneration, resistance to change, organizational hierarchies, and the underlying technologies that enable the change required for effective budgeting and forecasting.
Oil & Gas Budgeting And Forecasting Modelling
To stay on top, Oil & Gas companies must constantly re-examine the budgeting and forecasting models they use in their decision making processes to ensure they are up-to-date and incorporate the latest in budgeting and forecasting best practices.
Is there an opportunity to take advantage of the lower price of Oil? Where can technology costs be optimised? How does a drop of 40% in oil price affect profit? To support all these decisions, sound budgeting and forecasting is essential.
This 3-day training course provides participants with an understanding of both the principles of budgeting and forecasting and the practical application of these to real-world situations, with a strong emphasis on how to achieve this using Excel. The course applies the principles and practices to build sophisticated budgets and forecasts that are robust, flexible and user-friendly for Oil & Gas companies.
*Both programmes cover both upstream and down-stream businesses.
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Date of Event
15 May 2017Oil & GasBudgetingForecastFinanceMalaysia
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