The need for a consistent reference framework in PM

Now how do you inject structure without creating new bureaucracy; while capturing the knowledge before the generation of experienced engineers retires?

Time for a change?

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Full article: http://www.bain.com/publications/articles/large-project-management-in-oil-and-gas.aspx

“Today, large projects in the oil and gas industry face similarly daunting challenges as they become increasingly complex and technologically demanding. Schedules and budgets are tight, safety is crucial and every project faces a network of stakeholders concerned about its impact on the environment and communities. Even so, today’s project managers still rely on concepts that the builders of the Colosseum, as well as other large projects of antiquity, such as the Pyramids of Giza and the Great Wall of China, would recognize: work breakdown plans, design-to-cost and make-or-buy decisions.

Our experience working with projects in oil and gas suggests that while best practices and experienced talent are essential, they are not enough. Successful managers of large projects follow a coherent, consistent reference framework that guides their decisions and processes. These frameworks include:

• Formalized project phases and checkpoints

• Clear accountabilities within an integrated project team

• Checks and balances between central functions and project teams

• Continuous review to measure project value and monitor risk”

 

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