Project management, Project performance and Performance dashboards: A case-based study of improvement opportunities during industrial digitalization

Abstract

ABSTRACT

After years of increasing activity and stable high energy prices have an increasingly higher cost made it necessary to restructure and streamline the industry. This need has been reinforced by a significant drop in oil prices. Across industries, the digitalization technology with all the new digital tools with amazing new capabilities are becoming available, is a growing market with unimagined possibilities.

For many companies in the Oil and Gas industry, several improvements related to digital technology represent the best options to achieving strategy goals and seems to be the obvious way to go to be competitive. Smarter use of data is increasingly among the important priorities, since the industries has access to greater volume of data than ever before.

Despite several studies and research of how to improve projects and to measure the project performance, many projects around the world still finish later than expected and with higher cost. This case-base study has examined the improvement opportunities for project performance in connection with industrial digitalization.

Performance management and performance measurements are used in one way or another in the Oil and Gas Industry. In some area it is developed well in other there are several improvements opportunities. One opportunities are how projects may utilize the enormous amount of data available. For project performance in the Oil and Gas industry the relevant information and key data can be presented in a way that it may contribute to better safety, decision making, resource needs - and give higher value.

For a company like Equinor ASA the investment of digital solutions for project execution may give several new possibilities to perform even better and to have a good overview of the status and performance. By utilising data and information from several applications, merged together to get a better visualization, which gives a better understanding and supportive information to decision makers.