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1. Budgeting Forecasting and Cost Control Management Techniques
20 – 22 October, 2014 | The Resource Space, Lagos, Nigeria.
This course is available for IN-HOUSE; For Further information, please contact: Tel: +234 8037202432, Email: petronomics@yahoo.com. Web: www.thepetronomics.com

2. OVERVIEW The present market fundamentals call for enterprising entities to constantly re-evaluate its value chain to remain relevant in the business environment. At this critical business clime where uncertainties pervade the global economics with many in dilemma on the application of right policy instrument, whilst the energy dynamics is not insulated from this downturn but has rather exacerbate it, industry practitioner will have to resource expertise to earnestly tackle this impending menace by rebooting the corporate strategy using a sound budgeting and forecasting mechanism. This course has been carefully designed to holistically look at the budgeting and forecasting process as a tool to optimize the critical decision making in the management system. Participants will be exposed during facilitation led and practical session, to the principles of budgeting and forecasting and the practical application of these to real-world situations through the use of Excel application. LEARNING OBJECTIVE At the end of the programme, participants will be able to:
 Provide an introduction to budgeting for newcomers to the budgeting process since the programme assumes little prior experience or familiarity with accounting.
 build sophisticated budgets and forecasts in the context of the Oil & Gas industry
 improve efficiencies in the budgeting and forecasting processes by gaining valuable skills
 learn how to allow for uncertainty and model different business scenarios
 to apply a sound methodology that will allow complex budget and forecast models that are flexible, robust and user-friendly
 analyze data to determine trends and using these to forecast future performance
 utilize external data to enhance the accuracy of forecasts
 determine which budget methodology applies best in different situations
PERFORMANCE FOCUS Our programmes are significant investment for your workforce. They are designed to fill identified industry knowledge gaps and provide hands-on applicable know-how that gives participants a deeper insight on their deliverable. The various modules are cultured to encourage stakeholders to aspire the attainment of operational efficiency along the business chain. COURSE CONTENT Introduction What is budgeting? Why do organisations make a budget? Steps in creating a budget Parts of a budget Activities: Group discussions & activities
The Budgeting Process
Budgeting in large companies
Budgeting in small/medium companies
Role of the budget in corporate governance
Sources of information Activities
Group discussions & activities
Building the Budget Where to start? Key accounting concepts Forecasting revenue Types of costs Activities: Building revenue forecast Building an expense forecast Assessing a budget comparing scenarios Budgeting & Forecasting Re-cap Overview of the budgeting process and model considerations: Types of budget models Short-term & long-term models Upstream vs downstream models Model design & planning Best practice design guidelines Budgeting vs forecasting Planning the Model Bottom up budget models Model development framework Zero-Based Budgeting & cost drivers Rolling (dynamic) Budgets Building flexibility into time series analysis Capital expenditure budgeting Cash Budgeting Determination of Model and Forecast scope and time horizons Case Study: Identifying Cost & Revenue Drivers Attendees will examine a company’s accounts to identify the cost and revenue drivers that will be used in building the budget. Analyzing Historical Data Extracting historical data from financial systems & using this to forecast results Recognizing patterns in financial data Using Exploratory Data Analysis tools in Excel Techniques to allow for seasonality Activity 4: Building the Model Attendees extend their budget models to analyze historical data and develop predictions of future performance. Ensuring Integrity Learn how to ensure the model’s integrity is maintained such that any imbalances are detected quickly. Designing the model to incorporate integrity checks and balances Effective and efficient methods to ensure model integrity is maintained Sensitivity & Scenario Analysis Learn how to sensitize inputs to allow for uncertainty, and lern how to incorporate multiple scenarios into budget models to provide flexibility.

3. Performing Sensitivity Analysis Overview of Sensitivity Analysis Techniques to incorporate multiple “What-if" scenarios in models Break-even analysis Using Economic Data Learn how to enhance budgets and forecasts by incorporating external data. Sources of external data Using external economic/industry data in models Activity 8: Using Economic Data Attendees incorporate economic data in their budget model. CURRICULUM This course is designed to equip practitioners in staying on top of oil and gas businesses by providing contemporary know- how in evaluating the budgeting and forecasting models used in decision making processes as well as ensure that innovative budgeting and forecasting practices is integrated into the corporate framework. The prospect of networking with other delegates on industry issues will also consolidate the technicalities you will acquire during programme. WHO SHOULD ATTEND
 Business unit & Departmental Managers
 who want to better understand budgeting & forecasting
 Business & Financial Analysts
 Finance Managers & Financial Controllers
 Budgeting/Forecasting Managers
 Financial Advisors & Managers
DELIVERABLES Our training programmes are exciting learning events. All participants during the programme entitled to all course materials and a certificate of participation. On a written request, we shall furnish you with a detailed report summarising our perception of participants’ strengths, areas for improvement and proposed action plans within four weeks of concluding the course. Our feedback process ensures your objectives are achieved by the conclusion of our training process. PROGRAMME FEE The programme fee covers tuition, course materials. Payment is due upon receipt of the invoice. Our cancellation policy applies. N126,000.00 per participant IN-HOUSE TRAINING Petronomics Training can work with your organization to provide the course to meet your budget at your convenience (time and location) in the comfort of your working environment. This collaborative effort, emphasize actionable learning, the application of theory in practice and combine core business skills/technical knowledge with dynamic leadership training. If you would like to discuss possible collaboration in developing in- house training, please contact on the details below. REGISTRATION
To nominate a participant for this training, kindly forward the details of your nominated participants, (i.e. name, email address, telephone nos.) and stating the course your participant are registered.
To nominate a participant for this training, kindly forward the details of your nominated participants, (i.e. name, email address, telephone nos.) and stating the course your participant are registered.
Business Development Desk Petronomics Training Telephone: 234 1 8426905-6 0803 720 2432 +971556985290
Email: ayantola.victoria@thepetronomics.com
petronomics@yahoo.com
www.thepetronomics.com ABOUT US At Petronomics, energy expertise is our resource and inspiring competence is what we enjoy. The application of knowledge in driving innovation and ultimately possibilities is the catalyst that steer a distinctive value proposition. Braced with visionary advisory board, inspired/cultured workforce and experience faculty, we provide superior intellectual resource pool that bridge competency gap for industry operators. The benefits of our expertise are accessible through learning programmes, research and conference services; a blend that sets us as the preferred pool, professionals approach to upgrade business skills THE LEARNING APPROACH In resourcing industry workforce competency, we develop skills and experience that employer’s value by offering a comprehensive range of flexible learning options to meet their learning and development needs through a broad range of learning approach that offers intensive and enjoyable experience to participants. Participants benefit from lectures, case study analysis, group discussion, workshop, and are also encouraged to learn from other managers and professionals on their programme by sharing ideas and experiences. We place a particular emphasis on group work where participants’ real life situations are used as vehicles for learning. FACULTY Key to our approach is the quality to the faculty members. Every faculty member on our 20 member team is rigorously assessed and contracted in line with our Standard Operating Procedure. Each of them understands that they have to deliver training and supporting documentation to the highest standard. They comprise of professionals with outstanding track records in their area of specialty. Whilst they bring to bear several years of hands-on experience in the industry, they are committed to knowledge growth and have an understanding of the link between strategy and knowledge capital. LEARNING ENVIRONMENT Our programmes are conducted in a decent and cozy environment globally. We ensure that our participants are relaxed to refresh in an ambience well conducive for inspiring and creative brainstorming that accelerate the learning curve of individual participants. In consolidation of our value chain, locations are carefully considered using our five star QC indicator like security, banquet facilities, accessibility and customer services. Our programme team works with the facility staff to ensure a personal and warm welcome to participants.