Advanced Cost Estimation – Oil & Gas Offshore/Onshore Development Projects – (On Line)
Since the monetary aspect is of paramount importance in business, the cost estimation is a vital resource for any company. An accurate cost estimate increases the chances of a successful completion of a project. Since the promoter of the work will most likely have to adapt costs to limited resources, both large and small projects require trustingly cost estimates during the conceptual, design and construction phases.
This course provides participants with the necessary tools to develop reliable cost estimates, by assessing the project needs resources, applying one or more estimating methods and adjusting the estimates based on the project resources and risks.
Additionally, this course will provide participants a conceptual framework, which places them within Cost Management process, as part of the Projects execution, in accordance with international standards.
This course is 100% compatible with the PMI ® (Project Management Institute), current Project Management Body of Knowledge PMBOK ®, and with the AACE – the Association for the Advancement of Cost Engineering - (Skills & Knowledge of Cost Engineering)
After completing this course, the participant must:
- Know and understand concepts and general aspects of cost estimation and its location within the Total Cost Management and the skills they must master a Cost Estimator.
- Analyze How to size and estimate cost for Process Equipment using different sources, simulating different scenarios according to the level of information available as per the stage of the Project Life Cycle.
- Analyze the principles, methods, and criteria involved in the structural and geometric design of these works. Select the machines and/or equipment used in the various tasks involved in these projects and analyze their production methods.
- Discriminating and construction procedures apply for work with defined levels of quality, safe, durable and affordable.
- Discuss solutions, from material selection through the relevant costing up equivalent alternatives.
- Determine costs, establishing precautions and solutions to construction errors in execution
- Technical evaluations of the different construction solutions, and their advantages and limitations
- Lectures 70
- Quizzes 2
- Duration 4 Weeks
- Skill level All level
- Language English
- Students 0
- Certificate Yes
- Assessments Yes
1. CONCEPTUAL FRAMEWORK - TOTAL COST MANAGEMENT
2. PREVIOUS ADJUSTMENTS TO DEVELOPMENT OF THE ESTIMATION
- Factors influencing estimates
- Estimation adjustments – the location factors (productivity, prices and currency)
- Crews Calculation – Installation Mh
- Assumptions of Allowances
- Indirect Costs
- Owner’s Costs
- International standard of commercial terms
- How to Use the Tables and Cost Curve
- Resources and tools for Process Equipment cost estimation
- Exercise 1
- Quiz M6 – 2
3. OIL AND GAS PRODUCTION PROCESS OVERVIEW
4. PROJECT COMPONENT COSTS IN OIL AND GAS EXPLOITATIONS (OFFSHORE)
5. PROJECT COMPONENT COSTS IN OIL AND GAS EXPLOITATIONS (ONSHORE)
6. QUE$TOR Cost Estimation Tool
7. OPERATIONAL COSTS - OPEX
8. OWNER'S COSTS
- Evaluation and selection phase
- Concept definition phase
- Implementation and start-up phase
- The drivers
- The complete execution
- Location and requirements of legislation
- Disposition operation
- Insurance, contingency and other charges
- Key issues on costs owners
- Estimation Methods
- Estimates prepared in phases of evaluation and selection of concept
- Estimates prepared in concept phase definition
9. DECOMMISSIONING COSTS (DECAB – ABEX)