Ekton Project Analytics’ Post

This approach really resonates with the challenges people have been facing in projects across different industries. Prioritizing production system capacity and flow over traditional scheduling methods has a direct impact on the bottom line.

🚨(FF) Flow or Fail: 🛢️ Big Oil's Deadly Addiction to Outdated Project Planning & Control. In the high-stakes world of oil and gas, project success hinges on one factor above all else: Flow. Flow is the number one consideration (even when it comes to cost)! Yet, many organizations remain paralyzed by an "immune system" 🦠 resistant to change, clinging to outdated practices that prioritize individual projects/activities over the seamless flow of work and optimal utilization of resources, including POB (Personnel on Board) 👷♀️👷♂️, given the scarcity of accommodations on platforms and barges. This stubborn adherence to the past manifests as a reliance on independent projects with dedicated resources, leading to fierce competition for both personnel and accommodations, creating bottlenecks. 🚧 Traditional matrix and portfolio management systems, while well-intentioned, exacerbate the problem, failing to facilitate the fluid resource transitions crucial for optimal flow. The result? 💸 Costly delays, squandered resources, and missed opportunities. It's time for the oil and gas industry to shed its outdated practices and embrace a new era of project planning and control – one that eliminates local efficiency, optimizes resources to prioritize flow, and propels projects towards benefits realization. 🚀 Oh, by the way: One last point—flow is the number one consideration. The question is, will your projects flow or fail? #EktonProjectAnalytics #FlowBasedProjectPlanning #CCPM #LPS #PMIHouston #AACEHouston #CriticalChainProjectManagement #GoldrattRulesOfFlow #LastPlannerSystem #PMIAngola #Chevron #ExxonMobil #TurnaroundPlanning #Saipem #KBR #Kaminho

Not all Lessons Learned are found in the LL register. Lessons learned are key in the performance of any project, and the use of them are covered in many project management strategies. The #PMI (Project Management Institute) recommend it as part of the tailoring the Performance Domains to suit the current project (PMBOK Seventh Edition, Section 3). The #aace include it as one of the key Strategic Asset Performance Assessment tools (TCM Framework Section 6). But as many of us know, there are many differences between renewables projects and traditional O&G projects. This is where lessons learned and experience transfer come into play. By having project management specialists who know how to apply the time-proven techniques of project management and tailor them to suit the speciality of the renewables projects, organizations can better prepare themselves for the issues that may arise. While there may be considerable differences between Naval Architecture for Oil and Gas as compared to #floatingoffshorewind, the know-how of preparing a project for less-risky execution is something that takes experience. Experience gained through other industry sectors. I mean, why would you want to repeat someone else’s mistakes on your project? This photo is from a EPC Project Management conference, where I am discussing just that: how to capture O&G experience in Renewables Projects. #projectmanagement #projectcontrols #projectservices

❗ Training: Budget Definition and Cost Control ❗ https://lnkd.in/e4YyVTRm Contact : contact@adinergy.com 🔵 In the upstream sector of the oil and gas industry, which focuses on exploration, drilling, development and production, Budget Definition and Cost Control have unique specificities due to the sector’s capital-intensive and high-risk nature. ⚪ This training provides a comprehensive understanding of the essential processes for managing financial resources in the oil and gas industry, with a focus on defining budgets and controlling costs. Participants will explore the specific challenges and techniques related to budgeting and cost management across different phases of the oil and gas value chain, including exploration, drilling and operations. 🔴 Key topics covered include: ➡️ Budget Definition: How to effectively plan, structure, and allocate budgets for oil and gas projects, considering capital expenditure (CAPEX) and operational expenditure (OPEX). Special focus on multi-year planning, managing high capital requirements, and dealing with market volatility. The course covers the Cost Control fundamentals and its 5 processes: Budget Process – Purchase to Pay – The estimated final Cost – Closure Works – Costs Report. ➡️ Cost Control: Techniques for tracking and managing costs to avoid overruns, including project cost monitoring, performance measurement, and risk management. The course will emphasize cost control methods in OPEX, Logistics, and Drilling: For each of these 3 categories of Cost their specificities and methodology will be explained. ➡️ Case Studies and Best Practices: Real-world examples from the oil and gas industry will be used to illustrate successful budget planning and cost control strategies, as well as common pitfalls to avoid. ❇️ In summary, budget definition and cost control in upstream oil and gas require meticulous planning to manage high capital expenditures, operational risks, and the inherent uncertainties of exploration and production activities. #adinergy #transport #logistics #shipping #maritimeindustry #supplychain #supplychainmanagement #maritime #oilandgas #energy #upstream #oilgas #oilandgasindustry #energyindustry #exploration #oilindustry #offshore #offshorewind #renewableEnergy #WindEnergy #renewables #energytransition #elearning #onlinelearning #training #onlinetraining #professionaldevelopment #projectmanagement

#Why_do_projects_fail? Project Management: is a temporary effort that aims to achieve a single result, and has limited resources. It is common for projects to fail in different segments of the oil and gas market. A large part of this failure is due to the lack of correct project management and the failure to apply efficient and effective methodology. Therefore, to avoid failures and errors, optimize costs and improve deliveries, it is important to use project management methodologies that can be applied in the oil and gas industry, so that the project is executed with excellence. Methodologies are the perfect ways for a project to be implemented, as it was dreamed. Following all the steps of a project is super important. #Eng_Mariel #Master_in_Management #Expert_In_Projects

𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐓𝐢𝐩: 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐢𝐧 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬! In the oil and gas industry, efficient resource management is key to project success. Proper allocation of time, labor, and materials can streamline operations, reduce costs, and ensure timely project completion. Focus on tracking resource usage and leveraging technology to enhance productivity and avoid costly overruns. ✔️ 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐮𝐭𝐢𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 ✔️ 𝐌𝐢𝐧𝐢𝐦𝐢𝐳𝐞 𝐰𝐚𝐬𝐭𝐞 𝐚𝐧𝐝 𝐝𝐨𝐰𝐧𝐭𝐢𝐦𝐞 ✔️ 𝐁𝐨𝐨𝐬𝐭 𝐨𝐯𝐞𝐫𝐚𝐥𝐥 𝐩𝐫𝐨𝐣𝐞𝐜𝐭 𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 Stay tuned for more valuable business tips every Wednesday! #ResourceManagement #EngineeringExcellence #OilAndGasSuccess #ProjectEfficiency #BusinessGrowth

The Challenges of Managing Conflicting Stakeholder Interests Stakeholder management involves managing the conflicting stakeholder interests, which are often diverse and sometimes opposing, affecting smooth decision-making. Oil and gas land management software can help project managers address stakeholder concerns and manage operations effectively. Read More:- https://bit.ly/3Zr4gxX #LeadershipInAction #ManagingPriorities #StakeholderEngagement #NegotiationSkills #CompromiseAndCollaboration #LeadershipMatters #TeamAlignment #OilAndGasIndustry #ProjectSuccess #BusinessStrategy #DecisionMaking #RiskManagement #CollaborationForSuccess

Commencing the year with accolades! Elated to be the Winner of Onshore EPC Quality Quiz - 2023 at L&T Energy Hydrocarbon. 3 years in a row! Quality embodies the central essence of the iron triangle in Project Management function. While it is the core domain, it is also the first one to be compromised when we are pushed against the walls of triple constraints – scope, time, and cost. Prioritizing Quality is crucial to attaining project goals and aligning with strategic organizational objectives. Therefore, it should be a focal point for Project Management Professionals to be well-versed in. Secured the 1st position in the Onshore EPC Quality Quiz-2023. This is the 3rd consecutive win as Onshore EPC Quality Quiz Winner in a stint of as many years at L&T Energy Hydrocarbon! #larsenandtoubro #quality #quizcompetition #qualitymanagement

Need help Managing your Construction Execution, P6 Scheduling, Cost Control, or Progress Measurement? 🌟 At Kindred Industrial Services, we’re not just contractors; we’re consultants with a mission to guide your projects to successful completion. Our Construction Management and Project Controls Services are designed to offer you our expertise. 📈 Leveraging our deep industry knowledge, we provide strategic insights that ensure your projects in the energy, refining, and oil & gas sectors are managed with the highest standards of efficiency and effectiveness. 🤝 As your trusted advisors, we’re here to navigate every challenge and celebrate every milestone with you. Let’s collaborate to make your project goals a reality. #ConsultingExcellence #ConstructionManagement #ProjectControls #IndustrialConsulting #EnergyProjects #RefiningSuccess