A conceptual model for project management of exploration and production in the oil and gas industry: The case of a Brazilian company

Salazar-Aramayo, Jesus Leodaly; Rodrigues-da-Silveira, Roseane; Almeida, Mariana Rodrigues de; Dantas, Tereza Neuma de Castro

doi:10.1016/j.ijproman.2012.09.016

Cited by 33 publications

(20 citation statements)

References 51 publications

(137 reference statements)

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“…A project would be succeeded when it is implemented at a reasonable cost and quality during a planned period time, and meet stakeholders' satisfaction [1]. This traditional approach-referred as the "Iron Triangle" [4]-merely deals with the economic dimension of projects, while ignoring other major aspects [64].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Today, projects have a significant role to play in the success of any company and the integration of activities leading to new products or services can improve its performance [1]. That is why many companies consider the use of project management as a key strategy for their survival in a competitive environment as well as for increasing the possibility of value creation in their businesses [2].…”

Section: Introductionmentioning

confidence: 99%

“…That is why many companies consider the use of project management as a key strategy for their survival in a competitive environment as well as for increasing the possibility of value creation in their businesses [2]. A project is a temporary attempt to produce a unique product or service and project management refers to the application of knowledge, skills, tools and techniques to carry out all activities of the project [3] as well as, project is a complex effort involving interconnected activities, with the purpose of achieving an objective [1]. A project performance evaluation dealing with evaluating and rating all tasks [4] help Decision Makers ('DM') through determining the status of the project and its weaknesses and strengths [5] and will help establish benchmarks of high performance projects for cross-learning and identify inefficiencies of low performance projects for potential improvement [6].…”

Section: Introductionmentioning

confidence: 99%

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A Novel Approach for Evaluation of Projects Using an Interval–Valued Fuzzy Additive Ratio Assessment (ARAS) Method: A Case Study of Oil and Gas Well Drilling Projects

et al. 2018

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Abstract:The beginning of the 21st-century resulted in a more developed multi-attribute decisionmaking (MADM) tool and inspired new application areas that have resulted in discoveries in sustainable construction and building life cycle analysis. Construction and civil engineering stand for the central axis of a body consisting of a multidisciplinary (multi-dimensional) world with ties to disciplines constituting the surface, and with the disciplines, as a consequence, tied to each other. When dealing with multi-attribute decision-making problems generally multiple solutions exist, especially when there is a large number of attributes, and the concept of Pareto-optimality is inefficient. The symmetry and structural regularity are essential concepts in many natural and man-made objects and play a crucial role in the design, engineering, and development of the world. The complexity and risks inherent in projects along with different effective indicators for success and failure may contribute to the difficulties in performance evaluation. In such situations, increasing the importance of uncertainty is observed. This paper proposes a novel integrated tool to find a balance between sustainable development, environmental impact and human well-being, i.e., to find symmetry axe with respect to goals, risks, and constraints (attributes) to cope with the complicated problems. The concept of "optimal solution" as the maximum degree of implemented goals (attributes) is very important. The model is built using the most relevant variables cited in the reviewed project literature and integrates two methods: the Step-Wise Weight Assessment Ratio Analysis (SWARA) method and a novel interval-valued fuzzy extension of the Additive Ratio Assessment (ARAS) method. This model was used to solve real case study of oil and gas well drilling projects evaluation. Despite the importance of oil and gas well drilling projects, there is lack of literature that describes and evaluates performance in this field projects. On the other hand, no structured assessment methodology has been presented for these types of projects. Given the limited research on performance evaluation in oil & gas well-drilling projects, the research identifies a set of performance criteria and proposes an evaluation model using fuzzy Delphi method. An illustrative example shows that the proposed method is a useful and alternative decision-making method.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

A Novel Approach for Evaluation of Projects Using an Interval–Valued Fuzzy Additive Ratio Assessment (ARAS) Method: A Case Study of Oil and Gas Well Drilling Projects

et al. 2018

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“…In that study, the risks associated with construction projects had not been considered. Also, the other studies that have concentrated on OGC projects, such as that by Salazar-Aramayo et al [96], have not introduced risks or proposed risk assessment methodology to evaluate the overall risks in OGC projects.…”

Section: Risk Assessment Related Workmentioning

confidence: 99%

DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

et al. 2017

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Oil and gas construction projects are complex and risky because of their dynamic environment. Furthermore, rising global energy demand has increased the need for trustworthy risk assessment models for such projects that can provide adequate and precise policy planning. Traditional risk assessments in oil and gas construction projects do not consider the interrelationships of factors in the best-fit models. The Decision Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Processes (ANP), called the DEMATEL-ANP approach, have been applied to other research disciplines to address this shortcoming. This method is able to construct a structural relationship among the different influence factors to visualize complex correlations. Thus, the purpose of this study is to showcase the DEMTAL-ANP risk assessment model to assess the overall risk factors of OGC projects. This study thus identifies the crucial risk criteria of such projects. Data were collected in 2016 through interviews with experts active in OGC projects in Iran. DEMATEL in this situation is used to determine the interdependencies' relative strengths among the risks. The ANP method is applied to assess the relative importance of the risk factors and to determine the best strategy for implementation of a risk management program. The results presented in this study are a novel adaptation of the risk assessment methodology to OGC projects that determines the important risk factors that directly affect the project success, which in turn helps in formulation of policies for ensuring reliable energy supply planning.

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“…Failure to meet these challenges will significantly impede the industry's ability to respond to both the opportunities and challenges presented by the unprecedented wave of capital investments. The wider global recession in 2007 challenged the core operating models responsible for delivering the business strategy of many global energy providers (Mckenna et al 2006;Berendas 2007;PwC 2009;Ernst and Young 2011;Salazar-Aramayo et al 2013). …”

Section: Introductionmentioning

confidence: 99%

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

Ochieng

Price

Zuofa

et al. 2015

Production Planning & Control

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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.

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A conceptual model for project management of exploration and production in the oil and gas industry: The case of a Brazilian company

Cited by 33 publications

References 51 publications

A Novel Approach for Evaluation of Projects Using an Interval–Valued Fuzzy Additive Ratio Assessment (ARAS) Method: A Case Study of Oil and Gas Well Drilling Projects

A Novel Approach for Evaluation of Projects Using an Interval–Valued Fuzzy Additive Ratio Assessment (ARAS) Method: A Case Study of Oil and Gas Well Drilling Projects

DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

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

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