Study on value-based management based on overall budget in overseas petroleum projects

Chinese oil companies are taking a comprehensive participation in overseas oil and gas competition, and are facing greater risks in the international climate. Based on the deep research on space dimension, time dimension, dimension of business, budget content, budget process, horizontal sector, vertical responsibility center, a fishbone chart of overall budget is proposed. The pattern and system of value-based management based on overall budget in overseas petroleum projects are established. This thesis discusses the strategic plans connected with life cycle budgeting, the rolling budgeting and annual budgeting, and the implementation through budget execution and control, and the incentives and restrains system through budget assessment, and the risk controlling through budget management, in order to realize project healthy effective and sustainable development.