A Functional vs Projectized approach in Oil and Gas Industry

The added value of Projectized approach

Abstract

The development of the oil & gas sector is associated with the constant search for new solutions to challenges facing companies that operate in the industry. One of the major challenges for the future development of the business is the need to increase the level of flexibility and adaptiveness. This conclusion is especially relevant for the oil & gas sector, which is likely to face the risks of energy transition and rising environmental regulations. To address this source of risk, the current study aimed to assess the perspectives of the project management approach used in the oil & gas sector. The specific company selected for the aims of analysis was the ADNOC company, also including a case study of a set of international businesses from different regions of the world. The qualitative research design was applied that was bases on interviews and a case study. The findings of the study demonstrated the high relevance of using the project management approach. Specific technologies that could bring benefits to the industry included production project management, advanced analytics, digitalization, and agile project management. It was found that studying the potential sources of resistance to change and sources of mistakes in terms of project management approach integration in the oil & gas sector was crucial.