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Managing Risk with Project Portfolio Management in the Oil and Gas Industry During an Economic Downturn |
Successfully manage and mitigate project risks.
Learn how project portfolio risk management solutions can help.
Current economic conditions necessitate finding innovative ways to plan and execute increasingly complex projects on time and within budget. However, according to one survey over 40 percent of oil and gas mega-projects cite budget and schedule overruns – in part because of a reliance on outdated project and risk management methods. With every dollar counting more then ever, one thing is certain: it can no longer be business as usual.
By carefully managing project risks and practicing project management best practices, oil and gas executives can gain the tools they need to successfully execute both capital and maintenance projects.
Project and portfolio risk solutions can help executives and project teams identify and mitigate risk, enabling them to:
- Manage financial performance by investing in and delivering projects with less risk and superior returns
- Optimize operational metrics, like craft productivity, by modeling schedule analysis
- Minimize contract conflicts through Monte Carlo-based analysis
- Create “what-if” scenarios, allowing all levels of project stakeholders
to see how even a slight contingency will affect the project and how
different responses will impact the budget and schedule
- Capture key industry knowledge and establish best practices across the
enterprise to reduce the impact of resource shortages due to attrition
Click the download now button to read the white paper, “Managing Risk with Project Portfolio Management in the Oil and Gas Industry During an Economic Downturn".
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