Decision support and strategic project management in the UK upstream oil and gas sector

Strategic projects form the core of corporate growth, change and wealth creation, which enable a firm to achieve and sustain long-term success. However, a traditional engineering perspective on project management still seems to dominate. In general terms, manages are fully aware of some traditional techniques, such as NPV, but these can undervalue a strategic project. They occasionally apply techniques for controlling projects, and often lack a practical understanding of recently developed techniques. The purpose of these recently developed techniques is to create a project's value from the outset, and to drive a firm to superior performance and aspiration. The current research project aims to explore the role of techniques in facilitating successful strategic project management, and the elements involved in it, as applied to the UK upstream oil and gas sector. At first, the existing literature on successful strategic project management is reviewed, with major emphasis given to the techniques applied to managing projects. The proposed methodology follows a triangular approach. First, exploratory interviews essentially describe fifty multidisciplinary elements involved in strategic project management. Second, an exploratory deskwork explores the extent to which techniques address, in theory, these elements. Third, a main survey describes the elements managers pay considerable attention to, searches for the elements that are believed to explain a strategic project's success and identifies the techniques that often address each element in practice. Finally, follow-up interviews validate some questionnaire findings. As a result, sets of techniques for successful strategic project management are proposed, and validated through assessment sheets. The present study represents an embryo for future investigation in the project management field. First, it explores the gap between elements that are believed to explain a project's success and those that managers pay most attention to in managing strategic projects. Finally, it suggests that the convergence of financial, environmental (green) and internal business issues might be a healthy route for the UK upstream oil and gas sector towards successful strategic project management

Taxas minimas de atratividade associadas a diferentes graus de risco : uma metodologia aplicada a projetos de produção da industria do petroleo no Brasil

Dissertação (mestrado) - Universidade Federal de Santa Catarina, Centro TecnologicoIdentificação de fatores construtivos do risco total de um projeto, tais como o risco de mercado, o risco associado à liquidez, o risco associado a perdas monetárias, e o risco associado à estimação. Introdução destes fatores à taxa mínima de atratividade ajustada ao risco total dos projetos, onde o cálculo do valor presente líquido ajustado ao risco permite que se comparem projetos de diferentes graus de risco total permite que se comparem projetos de diferentes graus de risco entre si, a partir de um indicador objetivo único, completo e suficiente. Aplicação da metodologia proposta a projetos de produção de petróleo no Brasil

On the strategic project management process in the UK upstream oil and gas sector

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

Decision support and strategic project management in the UK upstream oil and gas sector

Available from British Library Document Supply Centre- DSC:DXN054675 / BLDSC - British Library Document Supply CentreSIGLEGBUnited Kingdo

On the strategic project management process in the UK upstream oil and gas sector

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.Managing projects Success and strategy Strategic project management Upstream oil and gas sector

Exploring Decision Support and Strategic Project Management in the Oil and Gas Sector

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.Strategic project management Upstream oil and gas sector Balanced Scorecard

Avaliação econômica de projetos: uma abordagem do CAPM

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Maximising strategic value from megaprojects: the influence of information-feed on decision-making by the project manager

Large projects are notorious for erosion of value during execution. Decisions made by project managers have a significant impact on the strategic value of the asset delivered, and those decisions depend on the information feed on which they are based. This study uses theories of organizational behaviour, decision-making and program management to investigate the impact of information feed used by project managers on the strategic value delivered by mega projects in the oil&gas industry. A global survey of 69 managers of mega-projects was conducted. Results showed that information feed to project managers significantly influences the strategic value created by megaprojects. Also some moderating effects of contextual factors on this relationship were found. The contextual factors that influenced project manager decision-making relate to what they perceived to be Senior Management drivers for their projects. However the hypothesised moderating influence of project manager experience on decision-making was not found – an interesting observation. It was found that the extent to which project managers feel in control should influence the scope and quality of information-feed that should be sought. Four risk areas were observed as significant to long-term value creation from megaprojects: government relations; host community relations; contract management and procurement; and the influence of multi-location execution