Will cover the latest techniques and practical methodologies of project cost engineering and risk management to successfully manage project cost and risk, in order to maximize business ROI in the long run.

1. Supported By
PETROSYNC’S COST ENGINEERING & PROJECT MANAGEMENT SERIES
Your Key To Maximize Business Profitability
18 April—22 April 2016
Kuala Lumpur, Malaysia
COSTENGINEERINGANDRISK
MANAGEMENT|EARNED
VALUEMANAGEMENT

2. 2
Our Cost Engineering & Risk Management course is developed to help you learn the required
techniques in project cost engineering and risk management to successfully manage project
cost and risk. Earned Value Management course is developed to help you learn the principles,
methodologies in analysing project performance to contribute to project’s increased
performance and success
COST ENGINEERING & PROJECT MANAGEMENT| COST ENGINEERING AND RISK MANAGEMENT & EARNED VALUE MANAGEMENT
How Does This Course Benefits You?
Do you know the skills and knowledge areas of cost
engineers are similar to those quantity surveyors?
Understand the business context, the project life cycle and the purpose of cost
engineering
Learn the methodologies of project cost engineering to maximize business Return on
Investment (ROI) in long run
Learn to prepare cost estimates
Prepare cost estimates from high level factor estimating to very detailed equipment and bulk
material cost.
Understand the principles and methodologies of risk analysis and execute risk mitigation
Learn the methodologies of risk management through risk analysis skill to better measure
the parameters and uncertainties in a project.
Learn the techniques to control, forecast and report the cost and monitor project
performance
Able to control, forecast and report the cost and progress during project execution.
Attain skill to analyse project performance
Learn the principles, methodologies and best practices in analysing project performance and
to provide accurate cost and schedule forecasting at project completion
Do you know that Earned Value Management was first
emerged as financial analysis speciality in US in 1960s, but
It has since become a significant branch of project
management and cost engineering?
Seeking the optimum balance between cost, quality and time requirements is
essential in managing a project. Cost engineering is the engineering practice
devoted to the management of project cost, involving estimating, cost control, cost
forecasting, investment appraisal and risk analysis. It is to have accurate cost
estimates and schedules and to avoid cost overruns and schedule slips, act as
supporting assessment in decision making. Earned Value Management is important
to provide accurate forecasts of project performance problems which is an
important contribution for project management.
general@petrosync.com | +65 6451 4500 | www.petrosync.com
Course Overview
Course Design Focuses on Methodologies
This course focuses on the methodologies of project cost engineering, risk management and
best practices in earned value management .
Includes Specific and Practical Case Studies
Participants will be guided through step by step exercises on real oil & gas project case
studies through knowledge project parameters and uncertainties.

3. 3
COST ENGINEERING & PROJECT MANAGEMENT| COST ENGINEERING AND RISK MANAGEMENT & EARNED VALUE MANAGEMENT
PetroSync Distinguished Instructor
Who Needs This Program
Practical & Consulting
A certified Cost Engineer and a former board member of the
Dutch Association of Cost Engineers. Richard has more than 18
years of industrial experience in consulting oil & gas projects,
both upstream and downstream. He worked in various Shell
locations including Hague, Netherlands, Malaysia & North
America
Training
Lecturer of Shell’s Project Academy, Cost Engineering courses
and several Shell exploration and production courses.
Selected Clientele List
 Shell
 Chevron
 Petrobas
 SBM Offshore
 Petronas Carigali Hess
 Abu Dhabi National Energy Company
Richard Slingerland
Owner and Principal Cost
Engineer; Pareto Cost
Consultancy BV
This course is designed for cost engineering professionals who wish to enhance their
knowledge in cost engineering and earned value management of projects, including:
Job Titles Include:
Cost Engineers
Cost Estimators
Cost Controllers
Project Managers
XXX
Project Engineers
Project Planners
Finance Managers & Executives
PetroSync Inhouse Solutions
PetroSync can tailor our courses to meet your specific
needs at your preferred location and schedule. Contact us
for more information at +65 6415 4500 or email to
general @petrosync.com
PetroSync Quality Assurance
All PetroSync courses are developed with top quality to
address all your training needs and purposes. Our courses
are vetted strictly to ensure that we always deliver the best
courses with the best industry expert.
general@petrosync.com | +65 6451 4500 | www.petrosync.com
08:00—09:00 Registration (Day 1) 13:00—14:00 Lunch
09:00—11:00 Session I 14:00—15:30 Session III
11:00—11.15 Refreshment Session I 15:30—15:45 Refreshment Session II
11:15—13:00 Session II 15:45—17:00 Session Iv (Last Session)
Course Schedule

4. 4
COST ENGINEERING & PROJECT MANAGEMENT| COST ENGINEERING AND RISK MANAGEMENT & EARNED VALUE MANAGEMENT
Course Agenda — 5 Days
general@petrosync.com | +65 6451 4500 | www.petrosync.com
DAY 1
Cost Engineering Definitions & Cost Estimating Methodologies
Estimating Definitions
 Project Life Cycle
 Purpose of Estimates
 Accuracy and Probability
 Allowances
 Contingency and Escalation
 Money of the Day/ Real Term
 Estimating Plan
 Basis of Estimate
Factor Estimating
 Definitions, Advantages and Disadvantages
 Exponent Method
 Cost per Capacity Method
 Lang, Hand and Chilton Method
 Peter-Timmerhaus Method
 Specific Factor Method
Case Study: Factor Estimating
DAY 2
Location & Market Factor, Indices,Budgeting & Project
Location Factors and Market Factors
 How to set up a location factor
 Location cost surveys
 Steel and commodity prices
 Benchmarks
 Indices
 Cost Modelling
Case Study: Analysing differences between locations and
markets
Budgeting
 Setting up a project budget
 Project baseline
 Contingency allocation
 Work breakdown structure
 Cost breakdown structure
 Code of accounts
 Interaction with Contracting & Procurement
Case Study: From Estimate to Budget
DAY 3
Assurance, Risk Identification, Assessment, Analysis &
Management
Project Assurance
 Estimate Verification and Assurance
 Estimate Assurance Reviews
 Client vs Contractor Estimate Reconciliation
Case Study: Project Assurance
Risk Analysis Introduction & Definitions
 Definitions & Terminology
 Risk Register
 Cost Risk Analysis
Quantity Ratio Estimating
 Definitions, Advantages and Disadvantages
 Quantity Ratios for Piping
 Quantity Ratios for Electrical & Instrumentation
 Quantity Ratios for Structural Steel
 Quantity Ratios for Civil, Painting & Insulation
Case Study: Quantity Ratio Estimating
Parametric and Range Estimating
 Nomenclature
 Pareto’s Law
 Critical Elements and Key Questions
 Range Estimating Input and Simulation
Detailed Estimating
 Discipline Estimating
 Unit Rates & Sources of Pricing
 Estimating of Equipment
 Piping Estimate
 Insulation Estimate
 Civil Estimate
Case Study: Detailed Estimating
Project Control
 Why Cost Control
 Potential Influences on Costs
 Pre-requisites for effective cost control
 Cost control plan and procedures
 Schedule Control
 Progress Measurement
 Earned Value Analysis/ Management
 Project Controls best practices
 Integrated Cost & Schedule Control
 Project Control Tools
Case Study: Earned Value Analysis
Advanced Project Control
 Management of Change
 Re-baseline
 Monthly reports
 Forecasting
 Cashflow Analysis
 Controlling Cost of Quality and Safety
 Project close-out & lessons learned
 How to manage project control
 Total Cost Management
Case Study: Advanced project control
 Schedule Risk Analysis
 Deterministic Methodology
 Probabilistic Methodology
 Risk Analysis Tools
 Risk Management
Case Study: Setting up a risk analysis model
Risk Management
 Risk Mitigation
 Project Risk Management
Case Study: Risk Management

5. 5
COST ENGINEERING & PROJECT MANAGEMENT| COST ENGINEERING AND RISK MANAGEMENT & EARNED VALUE MANAGEMENT
general@petrosync.com | +65 6451 4500 | www.petrosync.com
Schedule Risk Analysis
 Uncertainties in duration
 PERT
 Critical path
 Critical Chain
Case Study: Schedule Risk Analysis
Integrated Cost and Schedule Risk Analysis
 Correlation between cost and schedule risks
 Essentials of cost and schedule risk analysis
 Methodology
Case Study: Integrated cost/schedule risk analysis
DAY 4
Definitions, Objectives, Methodologies and Analysis
 Project Control Cycle
 Project Control Plan and Procedures
 Project Control Best Practices
 Schedule Control
 Integrated Cost and Schedule Control
Case Study: Project Baseline and Control Sheet
Earned Value Analysis
 Earned Value Analysis Overview
 Evaluate Earned Value Techniques
 Define and Assess Earned Value
 Cost Variance (CV) and Schedule Variance (SV)
 Cost and Schedule Performance Indicators (CPI and SPI)
 Forecasting on Cost and Schedule
 Different Forecasting Methodologies and Formulas
 Accuracy of Cost and Schedule Forecasts
 Generate and Validate Estimate at Completion
 Cost and Schedule Performance Curves
 Trend Analysis
 Productivity Analysis
 Earned Schedule Analysis
Case Study: Earned Value Analysis
Register For This Course Now!
You Might Also Be Interested In:
Kindly fill up your particulars in the
registration form placed at the end of this
brochure, and send it to us or email to
registration@petrosync.com
Project Risk Assessment and Management
1 –4 March 2016 | Bali, Indonesia
Oil & Gas Fast Track Project Management
9 –11 May 2016 | Kuala Lumpur, Malaysia
 Course Objectives
 Course program
 Case Studies
Definitions and Principles
 Cost Engineering Definitions
 Estimates, Budgets and Value
 Budget and Contingency Allocation
 Project Baseline
 Work Breakdown Structure
 Cost Breakdown Structure
 Work Packages
 Allocation of budget to WBS and Work Packages
 Basic Earned Value Terminology
Case Study: Budget Allocation
Project Control
 Project Control Objectives
 Project Control Variables
 Project Control Methodologies
DAY 5
Monitoring, Reporting & Advanced EVM
Monitoring
 Elements of Monitoring
 Productivity
 Progress Measurement
 Progress Milestones
 Monitoring Plan
 Cost and Schedule Performance
 Identify the steps used in updating the project statues
 Understand how predictive performance data is used
 Controlling/managing engineering cost & schedule
 Controlling/managing equipment cost & schedule
 Controlling/managing bulk materials cost &schedule
 Controlling/managing construction cost & schedule
 Baseline Schedule Date vs Forecast Date
Case Study: Earned Value Monitoring
Reporting
 Reporting Requirements
 Reporting Calendar
 Reporting Templates
 Report on Program Performance using EVMS
 Best Practices
 Project Dashboards
Case Study: Project Controls Report and Dashboard
Advanced Earned Value Management
 Management of Change
 Problems and Pitfalls
 Pros and Cons of Earned Value Management
 Alternatives to Earned Value Management
 Earned Value vs Value of Work Done
 Managing Change and re-baseline
 How to manage Project Control
 Implementing Earned Value Management
 Earned Value Management Tools
 Identify appropriate Work Authorization Levels
 Use CPI and SPI in project management
 EVM and related management responsibilities
 Total Cost Management
 Project Close-Out & Lessons Learned
Case Study: Advanced Earned Value Management

6. 6
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Title : Cost Engineering and Risk Management| Earned Value Management
Date : 18—22 April, 2016
Location : Kuala Lumpur, Malaysia
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