Assessing Energy Project Economics Across the Full Life Cycle

Develop the judgement and the documentation needed to run full life cycle project economics properly.

📍 Istanbul🗓️ 5 training days📚 4 modules🎓 Accredited certificate
5intensive training days
4scientific modules
8training sessions
32detailed points

Course Overview

Deferred maintenance and deferred decisions on full life cycle project economics both accrue interest. Regulators and insurers increasingly want documented evidence of how project economics is controlled. Sessions alternate between guided analysis of the energy and hydrocarbon operations capability and supervised application. Plans for full life cycle project economics often fail at the handover point between functions. They gain the ability to sequence improvements to the practice within energy and hydrocarbon operations in an order their organisation can absorb. The programme suits teams tackling project economics together as readily as individuals attending alone. This programme builds full life cycle project economics from first principles, without padding and without omitting what matters. The most reliable predictor of sound project economics is whether anyone reviews it when nothing has gone wrong. The closing exercise tests whether the participant's plan for this strand of energy and hydrocarbon operations survives a hostile question.

Expected Learning Outcomes

01

Design permit and isolation controls covering the work involved in full life cycle project economics.

02

Capture and act on lessons from incidents and near misses involving project economics.

03

Integrate full life cycle project economics with the wider process safety management system.

04

Plan the handover of project economics so that capability is not lost when key staff move on.

05

Assess full life cycle project economics against the emissions and efficiency targets the organisation has committed to.

06

Establish what evidence would demonstrate that project economics is under control.

07

Set a realistic target state for full life cycle project economics and a defensible route to it.

Who Should Attend

01

Inspection and integrity engineers assessing full life cycle project economics.

02

Technical staff being prepared for supervisory responsibility over project economics.

03

Process safety and technical safety specialists reviewing full life cycle project economics.

04

Commercial and planning analysts modelling project economics.

05

Contract and procurement staff supporting full life cycle project economics.

06

Anyone whose accountability for project economics exceeds their current formal training in it.

Course Modules

01

Full life cycle project economics: process safety, permits and isolation

2 sessions · 8 points

Session 1Reading the current state of full life cycle project economics honestly

  • Define the safe operating envelope for full life cycle project economics and how deviations are detected.
  • Remove steps in project economics that add effort without adding assurance.
  • Check that management of change is applied to every modification of full life cycle project economics.
  • Map the handovers in project economics between functions and secure them.

Session 2The environmental exposure created by project economics

  • Establish the alarm philosophy applying to full life cycle project economics and remove nuisance alarms.
  • Set the trigger for a life-extension versus replacement study on project economics.
  • Confirm that those complying with full life cycle project economics understand why it exists.
  • Confirm contractor competence records for anyone working on project economics.
02

Project economics: incidents, lessons and continual improvement

2 sessions · 8 points

Session 1Reading condition data on project economics before failure, not after

  • Record the technical rationale for the chosen approach to full life cycle project economics.
  • Model the economics of project economics at low, base and high price cases.
  • Review incident and near-miss history involving full life cycle project economics.
  • Review the instrumentation on project economics for coverage gaps.

Session 2The operating limits on project economics and what happens beyond them

  • Identify the failure modes of full life cycle project economics with the highest consequence.
  • Close out actions on project economics rather than leaving them open indefinitely.
  • Confirm that lessons from full life cycle project economics are shared beyond the team that learned them.
  • Establish what evidence demonstrates project economics is under control.
03

Project economics: integrity, inspection and condition assessment

2 sessions · 8 points

Session 1Holding contractors on project economics to the standard you hold yourself

  • Confirm that reporting on full life cycle project economics reaches the people who can act.
  • Confirm handover documentation for project economics is complete and current.
  • Verify isolation points for full life cycle project economics are proven and documented.
  • Estimate the resource project economics requires to run as designed.

Session 2The hard cases in full life cycle project economics and how to reason about them

  • Benchmark the organisation's full life cycle project economics against comparable operations.
  • Name a single owner for each element of project economics.
  • Anticipate the objections full life cycle project economics will raise and prepare the answers.
  • Identify the data already collected that bears on project economics.
04

Project economics: economics, price exposure and investment case

2 sessions · 8 points

Session 1The permit and isolation regime that project economics actually requires

  • Verify emergency response arrangements cover the scenarios full life cycle project economics can create.
  • Set the review interval for project economics and who attends.
  • Establish the boundary of full life cycle project economics and record what sits outside it.
  • Check that the permit regime covering project economics matches the actual hazard.

Session 2Comparing project economics with recognised practice

  • Record what was learned when full life cycle project economics did not go as planned.
  • Build the internal briefing that explains project economics to those affected.
  • Agree the smallest change to full life cycle project economics that would be visibly useful.
  • Assess the emissions and discharge attributable to project economics.

Choose the package that suits you

Silver Package

At least 3 people

USD1,250
  • Workshop or Program Participation
  • Airport Transfers
  • Customized Badge
  • Expert Mentorship (Private Sessions)
  • Supervision & Secretarial Services
  • Accredited Certificate of Participation
  • Complete Training Kit
  • Coffee Break
  • Closing Ceremony

Gold Package

At least 3 people

USD1,850
  • 5-night stay in a 5-star hotel
  • Workshop or Program Participation
  • Airport Transfers
  • Customized Badge
  • Expert Mentorship (Private Sessions)
  • Supervision & Secretarial Services
  • Accredited Certificate of Participation
  • Complete Training Kit
  • Coffee Break
  • Closing Ceremony

Complete your registration

We will contact you within one business day to confirm.