The Impact of Online Work on the Operating Costs of Petroleum Development Oman (PDO)

Abstract

Purpose: The objectives of the study were to evaluate how PDO is adapting to the online work approach, to analyze and identify the operating costs of the company that got affected by switching to an online work approach, to evaluate the impacts of the online work approach on operating costs and to evaluate the effects of online work on financial performance and changes in operating costs. Design/methodology/approach: The population of the study was the employees of PDO – the managers and the employees of the accounting and finance department especially those who were involved with the financial issues and were responsible for the company’s cost and revenue calculations. The study included 54 samples from the population. The survey was conducted through a questionnaire using a Google Form and the samples were selected on a random sampling technique. Interview was also conducted. The data collected were analyzed using different data processing methods of data analysis. Findings: The study revealed that PDO successfully adapted to the transition from traditional working to online working and the technology played a key role in doing so. Employees felt benefitted from online working as they were able to manage work-life balance. It was also observed that working online with efficiency reduced the operating costs and increased productivity. It was confirmed the claim that the work-from-home online working benefitted the company significantly in reducing the operating costs. Research limitations/implications: It was suggested that the employees should be well equipped with modern technological equipment and advanced applications to support the online working conditions. The option should be given to employees to work from home should be made as a part of the work routine work even after the pandemic to maintain the work-life balance. Social Implications : The study suggested that the management including the project owners and managers must focus and work more on developing a work style that suits the requirements of different work teams in online working. Originality / Value: This is the first time a study of this kind was carried out to find out the impacts of pandemic on the operating costs and the financial performance of a company. This is a maiden attempt.