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Title: MANAGE COLLABORATIVE PARTNERSHIPS THROUGH EFFECTIVE PROJECT MANAGEMENT IN THE OIL AND GAS INDUSTRY
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MANAGE COLLABORATIVE PARTNERSHIPS THROUGH EFFECTIVE PROJECT MANAGEMENT IN THE OIL AND GAS INDUSTRY
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1314-2704
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English
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17
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15
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This study highlights a part of the results of a doctoral research regarding business performance improvement through contract management, conducted by authors in the Research Centre of Business Administration, Bucharest University of Economic Studies, Romania. The goal of this paper is to identify key elements for lasting collaborative partnerships through an effective project management. The first part of the paper provides an overview of the existing literature whereas the second part includes research results and solution proposal.
Our study is based on a review of existing literature from recognized publisher and professional associations, as well as an empirical research made within Upstream divisions from the Oil and Gas industry; here we have analyzed over 800 contracts and studied the root cause of project management failure based on which claims among contractual parties were raised between 2014 and 2016. Our research revealed that main causes-to-effect elements are given by the lack of collaborative approach. This appears to be a consequence of a week chosen outsourcing model and an unaligned operational performance management towards project?s own success factors. The development of the Oil and Gas industry relies most on contractual agreements and partnerships between companies that are specialized on certain type of services; therefore, we consider successful collaborative partnerships to be a key part of any progressive strategy. As in Upstream, most contracted activities are happening underground, each project represents a significant risk of failure causing business interruption and material, human and environmental damages for all project?s execution involved parties. Considering this, especially in this sector, outsourcing models shall avoid causing rigid collaborative environments. The switch from production and service organizations to solution providers are essentially and this could be reached by adopting an innovative thinking culture between project teams, where joint knowledge and capacities could be engaged to reduce business risk and strengthen collaborative businesses. |
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conference
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17th International Multidisciplinary Scientific GeoConference SGEM 2017
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17th International Multidisciplinary Scientific GeoConference SGEM 2017, 27 ? 29 November, 2017
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Proceedings Paper
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STEF92 Technology
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International Multidisciplinary Scientific GeoConference-SGEM
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Bulgarian Acad Sci; Acad Sci Czech Republ; Latvian Acad Sci; Polish Acad Sci; Russian Acad Sci; Serbian Acad Sci & Arts; Slovak Acad Sci; Natl Acad Sci Ukraine; Natl Acad Sci Armenia; Sci Council Japan; World Acad Sci; European Acad Sci, Arts & Letters; Ac
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321-328
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27 ? 29 November, 2017
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website
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cdrom
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2886
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Collaborative partnership; Project Management; Oil and Gas; Performance; Innovation
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