Revitalising energy capital project development and execution strategies: lessons from the energy sector

Abstract

This study sought to examine project delivery challenges currently being faced by energy clients and to determine how they could achieve value creation through better alignment of project delivery processes. There are important lessons to be learned from the energy sector on how to deal with the unique operational and project challenges. Four exploratory focus groups were held with twenty senior project management practitioners, to better understand the greatest needs and project management processes in the energy sector. A formal deductive approach was used to examine and evaluate existing and future energy project delivery processes. From the qualitative data, participants recognised the need to introduce science based project techniques such as system dynamics and project predictive analytics in project management processes. Participants further noted that comprehensive innovative project delivery processes and analytical approaches are required to cope with the increasing scale and complexity of energy capital projects.

A cross-national comparison of public project benefits management practices – the effectiveness of benefits management frameworks in application

“…Some used sensitivity analysis and some used external estimating teams, but the UK was the only country mandating reference class forecasting. As with ex-post learning discussed above, a pre-requisite for reference class forecasting is an organisation that collects and maintains the appropriate benchmark data for generating the appropriate forecasts, and this is recognised outside government projects (Fouché & Rolstadås 2010;Ochieng et. al 2016).…”

Utilising a systematic knowledge management based system to optimise project management operations in oil and gas organisations

“…Culture related knowledge management has become more and more popular (Ochieng 2009;Ochieng et al 2013;Zuofa and Ochieng 2015;Ovbagbedia and Ochieng, 2015). Economic conditions remain tough due to cut throat competition, globalisation, strategic operations against competition both local and global level (Ochieng et al 2016). Web Portal has become the most essential tool in the energy sector.…”

“…Recently, Abel et al (2015) showed that most of the data relevant for geological interpretation of oil reservoirs entails visual data that have no formal denomination and are learnt through an implicit process during training and field experience. The process of standardising and implementing a knowledge management based system can be particularly difficult for oil and gas companies, which has often viewed key business-exploration, upstream and downstream production, refining as distinctly different (Ochieng et al 2016). Creating a standardised knowledge management model, which entails people and technology approaches, can be challenging (Secchi and Camuffo, 2016;Siemieniuch and Sinclair, 2004).…”

“…Within the context of this study, a knowledge management based system is defined as an information data base designed to assist the sharing and integration of project data. It is worth noting that a knowledge management based system may be less automated in that they may require human activity in their operation (Ochieng et al 2016). For many oil and gas organisations in developed and developing countries, achieving knowledge efficiency requires cultural transformation within the strategic, operational and project levels of the organisation (Wagner and Majchrzak, 2006).…”

Utilising a Systematic Knowledge Management Based System to Optimise Project Management Operations in Oil and Gas Organisation

“…Culture related knowledge management has become more and more popular (Ochieng 2009;Ochieng et al 2013;Zuofa and Ochieng 2015;Ovbagbedia and Ochieng, 2015). Economic conditions remain tough due to cut throat competition, globalisation, strategic operations against competition both local and global level (Ochieng et al 2016). Web Portal has become the most essential tool in the energy sector.…”