The biggest challenge for oil and gas developers is to attract international companies to bid on their projects at reasonable prices.
The biggest challenge for oil and gas developers is to attract international companies to bid on their projects at reasonable prices. That was the claim made by delegates at last month's user meeting in Dubai to discuss project management with global oil and gas companies.
"For the oil and gas industry, time is money," said Bassam Samman, CEO of Collaboration Management and Control Solutions (CMCS).
"Any delay in finishing projects means a loss of revenue, especially now that the oil price is so high."
The event, hosted by CMCS, addressed obstacles in business processes, as well as emerging industry and technology trends, enterprise value and how to maximise return on investment. The user meeting had a focus on case studies, which were used to illustrate how best practices in project management can improve performance.
"The basic principle of portfolio project management is to align your project with your strategy," said Samman. "This gives a company a clear view of its priorities, which helps to optimise time and resources."
Speakers at the user meeting emphasised how the approach to project management had changed in recent years.
"In the past, oil companies hired contractors and specialised firms to carry out work for them," added Samman. "They worked separately and project management was not in place to co-ordinate the two entities.
"This proved unsuccessful as the contractors would tell their bosses what they'd like to hear, not necessarily what was going on. For this reason energy firms became more active in monitoring the entire project."
Samman said the meeting achieved its goal of convincing delegates that project management should not be an isolated effort - but part of a company's overall culture.
"What we are now seeing is the integration between project management and enterprise resource planning solutions," he said.
CMCS will be running two training events in Dubai during May. ‘Planning and scheduling with Primavera 5.0' will take place between 6-9 May. ‘The project management professional' will run from 6-10 May.