Oil & Gas: Fueling Success in a Complex Energy Landscape
Volatile markets. Increasing global demand for energy. Aging workforce. Environmental concerns. Regulatory complexities. Emerging technologies. From the energy renaissance to supply sustainability, the opportunities and challenges facing oil and gas companies today are unprecedented.
A key to navigating such complexities and developing repeatable success is to find an informed perspective that can help organizations swiftly respond to challenges and best position themselves for the future. This is where TwentyEighty Strategy Execution's oil and gas project management training can help. We have been partnering with organizations around the world to address their most pressing business issues. Our portfolio of clients covers the full depth and breadth of the industry, ranging from oil and gas majors to regional and national oil companies, and the multitude of services companies that support them.
Energy Industry Drivers and their Impact on Project Performance
While every organization has their unique business challenges, TwentyEighty Strategy Execution’s extensive research and practical work with leading oil and gas companies has allowed us to aggregate these business issues into four definitive drivers that distinguish the industry today. As we put on our project-tinted specialist lenses, we have determined that the following drivers impact the skills requirements and competencies development of the project community most critically. Our clients have extracted significant value by focusing on the select project performance areas.
Productivity on Capital Investments
Oil and gas companies are challenged with balancing capital project investment for long term growth against current market expectations. As reserves become increasingly inaccessible and expensive to get out of the ground, capital project investment will continue its meteoric rise, forcing the E&P organization to deal with enormous complexities in planning, scheduling, budgeting, and human capital management. Given the level of commitment and high cost of failure, it is essential to develop a robust capital decision framework to ensure that the right projects are identified, selected, and executed to full value.
How we can Help
We help organizations manage capital project risk through the development of effective project portfolio management capabilities. From portfolio analysis to project prioritization and selection, we help clients align organizational objectives with operational capability through the implementation of sound Project Portfolio Management processes:
Human Capital Productivity
The re-allocation of resources to meet regulatory requirements coupled with the rapid retirement of senior scientists, engineers, and project professionals is creating a talent crisis that threatens the very mission of oil and gas organizations. In addition to a strategic approach for recruiting and retention, it is critical to maximize the productivity of existing talent through thoughtful human capital development. A recent TwentyEighty Strategy Execution salary and development survey of oil and gas producers revealed that project management training initiatives generated an average ROI of 465%. Given the size and complexity of projects inherent to the industry and the impact of cost overruns and schedule slippages, this is likely a conservative calculation.
How we can Help
Our singular focus is to help our clients build project-focused competencies. After three decades of working with project organizations in the world’s largest enterprises, we are capable of enabling clients to build organizational capabilities in the areas of:
Now more than ever, E&P organizations are struggling to balance aggressive cost reduction targets with increased expectations on production and the changing risk and compliance needs of the business. Similarly, the downstream organization is tasked with eliminating defects, increasing reliability and utilization of aging assets. Whether through turnarounds, process improvement initiatives, or new technologies and engineering solutions; increased operational effectiveness ultimately depends on improving project management effectiveness.
How we can Help
A clearly defined project management methodology with robust processes for requirements, estimation, cost control, and project monitoring; is essential to project effectiveness and ultimately to delivering on the operational improvement requirements of the business. TwentyEighty Strategy Execution provides training and support solutions for:
Risk, Regulation and Compliance
Oil and gas companies operate in a highly complex and uncertain environment. Multiple regulatory regimes, complex relationships between IOCs, NOCs, and local government agencies, changing geopolitical interests, and growing environmental and safety concerns each create a level of added risk. Whether for capital projects, facility turnarounds, or any initiative; strong risk management processes are essential for any project that interfaces with the business.
We help clients establish a strong risk management culture and develop robust processes for identifying, managing and mitigating risks in very dynamic and complex environments. Areas of concentration typically include: