A conceptual model for project management of exploration and production in the oil and gas industry: The case of a Brazilian company (original) (raw)
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The Oil and Gas Industry is a multimillion-dollar industry. The companies which are involved in the Oil and Gas industry are well aware of the cost factor which plays a very critical part in every industry. The aim of the research is to critically identify and evaluate the depth of the Project Management Triangle concept applied in the execution of projects tendered by the Oil and Gas Companies to relevant contractors. A theoretical framework is proposed for the purpose of this research.
2017
Projects that fail, for whatever reason, can impact negatively on society, organisations, and other stakeholders. In a competitive business environment, the use of project management can allow organizations to strategically structure themselves to achieve their business goals and needs. In this way, organizations can invest in more effective project management that is aimed at achieving better performance, maximizing the possibility of success, and minimizing the chance of failure. Within this context, organizations must know which critical factors are most responsible for the success of a project to manage these factors in the best possible manner. Several researchers have identified various critical success factors that can influence the outcome and success of a project. This research aims to identify the factors impeding successful project management within a global specialised drilling services company. The factors were identified through a literature review and applied in a qualitative study through looking at publications by various authors to narrow down the list of critical success factors by identifying them in different studies. Through analysis of the company the list of critical success factors were narrowed down to five factors which includes the following: Clear realistic objectives, Sufficient/well allocated resources, Skilled/suitably qualified/ sufficient staff/team, Adequate budget, Good communication/ feedback. Best practises in project management were analysed and four of the ten knowledge areas as paraphrased by the PMBOK® Guide were identified. Recommendations based on the findings of the study were offered to the company to improve the project management process and reduce the impact of the identified factor on project success.
Journal of engineering, project, and production management, 2019
Oil and gas industry is complex and competitive and its projects are characterized by their importance and complexity. To achieve sustainability, oil and gas firms have to initiate and complete projects to scope, schedule, cost and quality. Hence, efficient Project Management Methodologies (PMMs) play a crucial role in successful project delivery. A conceptual model, adopted from the literature, was used to assess the influence of PMMs on project success. Based on a questionnaire data from 95 project management practitioners within the oil and gas industry in the Kingdom of Bahrain, correlational and regression analyses were used to test the research hypotheses. The quantitative study was backed with 17 semi-structured interviews to obtain in-depth understanding about the organizational PMMs. The major finding of the study revealed that applied PMMs have higher influence on project success in comparison with comprehensive PMMs. The companies in the oil and gas industry in Bahrain need to pay sharper attention to their methodologies and get them evolved with time to achieve higher success rates.
Strategic Journal of Business & Change Management
Project and project management has been around for a very long time. Moreover, project management constitute primarily about organizing and controlling the introduction of the desired change with the aim of achieving higher performance. The main objective of this study was to establish the influence of project management practices on the performance of oil firms' in South Sudan; a case of Nile Petroleum Corporation. The specific objectives of the study were guided by three variables namely; project integration, project monitoring and project execution. Pinto's Model of Project Management theory and the General System Theory were used to underpin the study. The target population for the study was 108 employees of Nile Petroleum Corporation. A sample size of 85 employees was obtained using Coolican Formula. Structured questionnaires were used to collect primary data. Reliability of the tool was determined by testing the coefficient Cronbach's by use of SPSS Software version 24. The data collected was analyzed using descriptive statistics and presented in percentages, mean, standard deviation. The study used inferential statistics to test the hypotheses. The study revealed project integration with p=0.509 did not have a statistically significant influence on project performance of oil firms in South Sudan. Secondly, project execution with p=0.011 showed significantly influence on project performance of oil firms in South Sudan. Finally, project monitoring with p=0.000 showed significantly influence on project performance of oil firms in South. The study recommended oil firms in South Sudan deploy project execution and project monitoring practices as they have a significant influence on project performance of oil firms in South Sudan.
Journal of Basic & Applied Sciences, 2017
Oil and gas industry significantly contribute for economic development of countries enriched with petroleum resources. Mega projects of oil and gas sector usually face many challenges due to environmental issues, high level of risks, huge investments, tight schedules and interdependencies between project activities. Therefore keeping in view, the issues faced by oil and gas sector this study was made to analyze the impact of project complexity and environmental factors on success of oil and gas projects of Pakistan. Based upon hypothetical framework developed for this study, data collection was made from an oil and gas company of Pakistan. After which, data analysis was carried out by using a statistical technique known as structural equation modeling. Project complexity, environmental factors and project success were taken as constructs for model evaluation on AMOS. Analysis of data has concluded that project complexity has negative impact on project success whereas better control ...
International journal of academic research in business & social sciences, 2014
The behavior by the oil marketing companies in Kenya has over the years generated a lot of public concerns on the overall economic efficiency and rationale of unfettered market mechanisms in the retail petroleum market in Kenya and literally rekindled agitations for reintroduction of price controls. The purpose of this research was to identify success factors, required to address concerns on recurrent project cost escalation, schedule delays and customer satisfaction in the petroleum industry projects. The main purpose of this study was to investigate the influence of economic factors on performance of project management among petroleum marketing firms in Kenya. This research was studied through the use of a descriptive research design. The target population composed of the 159 top, middle and low level management staffs working with the head offices of the major petroleum marketing firms in Nairobi. Stratified random sampling technique was used to select a sample of 30% (48 respondents) from within each group in proportions comprising of departmental heads, assistant departmental heads and lower cadre staffs like the supervisors, accounts and other officers since they are the ones conversant with the influence of economic factors on performance of project management among petroleum marketing firms in Kenya. The study made use of a survey questionnaire administered through drop and pick later method. The questionnaire was pre-tested for validity and reliability with 10 management staff of petroleum marketing firms which ensured that the questionnaire is appropriate and the aspects investigated was generally understandable. Quantitative data collected was analyzed by the use of descriptive statistics using SPSS and presented through percentages, means, standard deviations and frequencies. The information was displayed by use of bar charts, graphs and pie charts and in prose-form. The study findings show that project management among petroleum marketing firms is generally less successful which could be attributed to various economic factors that inhibit their success. Foreign currency exchange rate, funding, joint ventures and foreign investments affect the success of projects in the petroleum marketing firms. The study recommends that since economic factors contribute immensely to performance of petroleum marketing projects, petroleum infrastructural requirements as well as investment requirements and options for
Exploring Decision Support and Strategic Project Management in the Oil and Gas Sector
European Management Journal, 2004
This article attempts to increase understanding of best practice in decision-making in strategic project management, as applied to the upstream oil and gas sector. It describes what is meant by strategic project management in that context, outlines the wide range of techniques that can be applied to managing strategic projects, and explores the elements (or dimensions) of the strategic project management process, and the appropriateness of techniques in facilitating strategic project management. It seeks to improve managerial understanding of strategic project management, by proposing a set of multidisciplinary elements framed by the balanced scorecard's (BSC) rationale, and investigating the extent to which techniques address the proposed set of elements.
On the strategic project management process in the UK upstream oil and gas sector☆
Omega, 2007
This paper reports on an investigation into strategic project management in the UK upstream oil and gas sector. The management process is represented by a set of elements which covers context, content and output and are balanced across financial, internal business, external environment, and learning and innovation perspectives. The paper uncovers elements that appear to explain successful project management and compares these with the elements to which managers pay greatest attention. There appears to be a mismatch between those elements which are associated with success and those receiving significant management attention.
Engineering, Technology & Applied Science Research, 2019
This paper aims to study the relations between construction enterprises’ project management capabilities and organizational performance. A questionnaire survey was administered to 89 Saudi construction contracting organization administrative members. Data were obtained from 32 projects that were held during the last two years and were analyzed using structural equation modeling (SEM). It was hypothesized in this study that a construction organizational performance is influenced by project management capabilities within the enterprise. A structural equation model was set up to measure the above two latent variables through their constituent variables. This study introduced a method to measure performance both in qualitative and quantitative terms. The strong path coefficients between the constructs of the model are an indication that after decades in pursuit of finding ways to improve the performance of construction organizations, subjective dimensions of performance have proven to b...