Decision makers in XYZ company need to analyze the organization’s financial performance in order to determine whether departments’ expenditures are over or under budget, thus, deriving actionable decisions. Table 1 provides information extracted from the organization’s data warehouse on the budgeted expenses against actual expenses of the company’s departments over one year period of time.
Dept. Q1 Budget Q1 Actual Q2 Budget Q2 Actual Q3 Budget Q3 Actual Q4 Budget Q4 Actual
Distribution 390,000 375,000 395,000 382,000 400,000 390,000 410,000 408,000
Facilities 675,000 693,000 800,000 837,000 750,000 713,000 750,000 790,000
HR 350,000 346,000 350,000 342,000 350,000 340,000 350,000 367,000
IS 950,000 925,000 850,000 890,000 875,000 976,000 900,000 930,000
Table 1: Departments’ yearly performance
A) Use the most appropriate basic visual chart covered in class to show, for each department, the percentage variance between the budgeted and actual expences over each of the four quarters.
Variance% = ((budgeted expense – actual expense) / actual expense) * 100
(a positive value indicates that the department is spending less than the budgeted amount, whereas negative values indicate that expenses are more than anticipated).
B) Use the most appropriate basic visual chart covered in class to visualize the difference between the departments’ overall budget values against overall actual values over the four quarters.
C) As a decision maker, draw one informative conclusion from each chart (A) and (B) using your own words.
Sample Solution
In addition, this experience leads the company to reach determinations on the best production for the long-term viability of a well. Weatherford labs provide several services according to the client requirements, for instance MICP (Mercury injection and Capillary pressure), Porosity and Permeability measurement, CT scan for cores, Soxhlet Cleaning, Core photo, Core gamma, Fluid Saturation by Dean Stark, Salinity Analysis, and finally Miscible Extraction. Weatherford laboratory sections The Waterford lab in Oman is divided into several sections and each department has special tasks. The flow chart below shows the different sect The Conventional core analysis department is about using different instrument in order to measure the porosity and permeability of fluids using Nitrogen and Helium gases. In addition porosity and permeability are important factors in petroleum. This section provide an important data related to porosity and permeability in order to get a better understanding in reservoir and flow of different types of fluids using DHP (Digital Helium Porosimeter) and DGP (Digital Gas Porosimeter) devices also VINCI is one of the instruments that used for steady- state processes. SCAL sectio Special core analysis section are specialist in understanding petrophysical properties goes beyond special techniques with advance tests to help the client more in estimating their fields. It is important to note however, that SCAl provide several services in MICP (mercury injection and capillary pressure), FRF (formation resistivity factor), and permeability of fluids especially water, CT scan, and flush cleaning using different solvents. However, the department provides unique tests related to the above processes in order to ensure the delivery of good quality services and focus on saving costs to the customer. Therefore, SCAL section is responsible for different fluid analysis at several stages in order to fulfil all the operational requirements and to achieve important results that optimize production and development of the fields. Other sections Weatherford laboratories also provide some other services behind the services provided by CCA and SCAL. These services include the basic experiments and requirement to observe several parameters such as temperature, pressure, and type of gas. Summary of the internship I have implemented the internship in Weatherford Company, Is one of the international oilfield services company. The company has several sections and the section where I had training is the Weatherford laboratory and is considered one of the main sections in Weatherford. The Weatherford labs are located in Ghala Industrial Estate in Oman. The company offers internship opportunities to students in different departments for example wireline, product line which include laboratories, and finances related to their major and skills.>
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