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Beyond Predictions: Scenario-based Decision Making in Oil & Gas Industry

Scenario Planning in the Oil and Gas Industry
Coventry Academy -  Beyond Predictions: Scenario-based Decision Making in Oil & Gas Industry

Course Schedules

 19-23 Aug 2024
 11-15 Nov 2024
 27-31 Jan 2025

Training course overview

In today's ever-changing oil and gas industry, predicting the future is becoming increasingly challenging. Therefore, relying solely on traditional forecasting methods and models may not always result in the best decisions. Scenario-based decision making is a powerful tool that can help oil and gas professionals to better prepare for the future and make informed decisions. This five-day training course, "Beyond Predictions: Scenario-based Decision Making in Oil and Gas Industry," will equip participants with the knowledge, skills, and tools needed to apply scenario planning to their work in the oil and gas industry.

This training course will feature:

  • Historic and state-of-the-art Scenario Planning
  • How the world’s largest oil and gas companies conduct scenario planning
  • Bringing potential future scenarios to life
  • Preparing for and adapting to potential future scenarios
  • The use of Artificial Intelligence and Big Data Analysis
  • Scenario planning as a process within the organization
  • Facilitation and reporting techniques

What are the goals?

By the end of this training course, participants will be able to:

  • Understand the importance of scenario planning in the oil and gas industry
  • Develop skills and knowledge to effectively use scenario planning tools and techniques
  • Learn to identify and evaluate key industry trends and drivers
  • Develop plausible and robust scenarios for decision making under uncertainty
  • Learn to analyze and compare scenarios to make informed decisions
  • Develop strategies for implementing and communicating scenario planning results

Who is this training course for?

This training course is suitable to a wide range of professionals but will greatly benefit:

  • Oil and gas industry professionals involved in strategic decision making, including executives, managers, analysts, and planners
  • Professionals in related industries, such as energy, finance, and consulting, who are interested in scenario planning and its applications
  • Anyone interested in learning about scenario planning and its role in decision making in the oil and gas industry

How will this training course be presented?

This training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes expert input, videos illustrating scenario planning in action, and case studies from inside and outside the industry. In particular, it involves extensive hands on practice and opportunities for participants to develop their own scenarios.

Course Outline

Day One: Introduction to Scenario Planning
  • Overview of scenario planning and its role in decision making
  • Historical examples of scenario planning in the oil and gas industry
  • Steps in scenario planning process: data gathering, scenario development, and decision making
  • Case study: analyzing and interpreting scenarios
Day Two: Oil and Gas Industry Trends and Drivers
  • Overview of key trends and drivers shaping the oil and gas industry
  • Economic, political, and environmental factors influencing the industry
  • Case study: identifying industry trends and drivers and their potential impacts on business decisions
Day Three: Developing Scenarios
  • Approaches to scenario development: qualitative, quantitative, and mixed methods
  • Scenario planning tools and techniques
  • Developing plausible scenarios: identifying and assessing key uncertainties
  • Case study: developing and testing scenarios in the oil and gas industry
Day Four: Scenario Analysis and Decision Making
  • Methods for analyzing and comparing scenarios
  • Identifying and evaluating strategic options based on scenario analysis
  • Decision making under uncertainty and risk
  • Case study: applying scenario-based decision making in the oil and gas industry
Day Five: Implementing and Communicating Scenario Planning Results
  • Strategies for implementing scenario-based decisions
  • Communicating scenario planning results to stakeholders
  • Review and evaluation of the scenario planning process
  • Case study: real-world implementation of scenario-based decision making in the oil and gas industry

The certificate

  • Coventry Academy Certificate of Completion for delegates who attend and complete the training course

Coventry Academy
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