About the Project Economics & Performance Management Course

Time Training Center's 4-day/24-hour Project Economics & Performance Management course delivers a practical, strategic approach to boosting financial and performance results in oil & gas. It equips professionals with the knowledge and tools to analyze, evaluate, and manage complex projects for long-term value and operational excellence.

The course explores the foundations of economic evaluation, investment analysis, and uncertainty management, utilizing techniques such as decision tree logic and Monte Carlo simulations. You gain hands-on experience with tools like Risk and Excel to create risk-adjusted economic forecasts and integrate project planning with KPIs and Earned Value Management (EVM).

Through a blend of technical analysis and value-driven governance, our course enables delegates to make informed, data-driven decisions, manage diverse project portfolios, and lead performance improvements across their organizations. It emphasizes outcome-focused strategies and effective stakeholder engagement to ensure projects align with business goals and deliver tangible returns.

Project Economics & Performance Management Course Objectives

​By the end of this Project Economics & Performance Management training course, participants will be able to:​

• Appreciate attitudes to uncertainty and apply decision tree analysis and other risk management techniques.
• Gain skills in the application of specific risk management simulation software such as Risk.
• Conduct comprehensive economic studies on petroleum-related projects.
• Use industry-relevant economic concepts to evaluate and select viable oil and gas investments.
• Develop Key Performance Indicators (KPIs) and establish metrics to evaluate modern project complexities.
• Design effective dashboards and scorecards for transparent performance reporting.
• Apply industry-accepted project management methodologies to establish and maintain integrated project baselines.
• Enhance decision-making and optimize resource allocation for improved project and organizational outcomes.
• Follow a structured and proven planning process for project success.
• Recognize key internal and external factors influencing oil and gas field development economics.
• Advance proficiency in project management practices to improve organizational maturity.
• Strengthen leadership capabilities for managing multidisciplinary project teams.
• Build client confidence through consistent application of professional project management techniques and communication tools.
• Evaluate investment and design alternatives using decision tree and risk-based financial modeling.
• Identify and analyze critical uncertainties impacting oil and gas project profitability.
• Embrace value-driven project approaches focused on outcomes rather than outputs.

Project Economics & Performance Management Training Methodology

We employ a comprehensive and applied learning strategy, integrating theory with real-world implementation:

• 30% Conceptual Learning: Expert-led sessions on catalytic theory and engineering principles
• 20% Interactive Workshops: Group exercises, presentations, and technical discussion forums
• 30% Case-Based Learning: Industry-specific examples and troubleshooting scenarios
• 20% Technology Integration: Digital tools, simulations, and catalyst modeling applications

Who Should Attend Our Project Economics & Performance Management Course?

This training course is highly beneficial for professionals involved in oil and gas project economics, performance management, and strategic decision-making, including:

• Planning Managers
• Oil & Gas Engineers
• Project Managers
• Project Management Professionals
• Analysts
• Commercial Managers
• Economists
• Government Officials
• Geologists
• Business Advisors
• Asset Managers
• E&P Managers
• Other key members of oil & gas project teams

Project Economics & Performance Management Course Outline

Module 1: Foundations of Project Economics in the Oil & Gas Industry

• Pre-test assessment of existing knowledge
• Introduction to project economics and performance management in the oil and gas sector
• Overview of development economics and the historical evolution of energy use
• Understanding key economic terms relevant to petroleum projects
• Impact of inflation on nominal versus real cashflows
• Principles and structures of project financing
• Evaluating economic viability in oil and gas investments

Module 2: Managing Uncertainty, Risk, and Decision Analysis

• Identifying and managing uncertainty in capital-intensive projects
• Fundamentals of probability and its application to project risk
• Concepts of expected value, expected monetary value (EMV), expected profitability index (EPI), and expected opportunity loss (EOL)
• Differentiating between risk and uncertainty in petroleum projects
• Risk aversion and calculation of risk premiums
• Threat and opportunity analysis for exploration and production projects
• Decision tree analysis and application in evaluating alternatives
• Utilizing probability distributions and simulation models for decision support

Module 3: Quantitative Risk Modeling and Economic Simulation

• Building economic models using spreadsheet-based tools
• Cashflow modeling and scenario-based sensitivity analysis
• Visualizing uncertainty with tornado diagrams
• Introduction to Monte Carlo simulation and its relevance in project evaluation
• Practical application of @Risk software to build integrated economic models
• Running simulation-based sensitivity analysis using @Risk-generated data
• Interpreting results to support risk-informed investment decisions

Module 4: Planning and Controlling Projects for Economic Performance

• Understanding project definitions, characteristics, and success factors
• Defining project scope and assessing commercial feasibility
• Structured project planning: organizing, implementing, and controlling processes
• Development of work breakdown structures (WBS) and cost breakdown structures (CBS)
• Time and cost estimation techniques tailored to oil and gas project needs
• Project scheduling tools and critical path methods for timeline optimization
• Establishing project control systems to support execution and reporting
• Selecting and applying key performance indicators (KPIs) to monitor project success

Module 5: Performance Measurement, Risk Management, and Stakeholder Engagement

• Applying earned value management (EVM) techniques for performance tracking
• Methods for measuring project progress and analyzing deviations
• Managing project handover and transition to operational phases
• Planning for project risk management across the lifecycle
• Conducting risk identification, qualitative and quantitative risk assessments
• Developing effective risk response strategies and control measures
• Building high-performing project teams and understanding team dynamics
• Distinguishing leadership from management in project environments
• Enhancing influence skills and managing diverse stakeholder expectations
• Designing stakeholder communication strategies to support project objectives

Module 6: Capstone and Assessment

• Review of Core Topics and Key Learnings
• Final Group Discussion and Q&A
• Post-Test Evaluation
• Certificate Presentation

Course Completion Certificate

Upon completing your course at Time Training Center, you will be awarded an official Course Completion Certificate, recognizing your achievement and the skills you've gained. This certificate validates your expertise and reflects the high standards of training you've undergone.