PFC: Improving Project Efficiency at Less Than $50/bbl - Part IV "IPA"
*Pre-registration is closed but event walk-ins are welcome to attend.*
The Project, Facilities and Construction Study Group is pleased to announce our 4-part Spring Event Series for 2016. This series will focus on “Improving Project Efficiency at Less Than $50/bbl”
The role of the project manager is crucial to effective project development and project execution. This 4-part series will occur as weekly events in March covering project management roles from the perspective of an Operator, Fabricator, EPC and Consultancy. The goal of the series is to transfer knowledge related to how organizations can collaborate to improve efficiency at relatively lower oil prices than we have become accustomed to. What do we do now and what can we do going forward to improve project execution to meet the new budgetary goals in a low oil price environment?
Part IV on Wednesday March 30th will be presented by the Consultancy, Independent Project Analysis (IPA). The boom times are officially over. It feels like an eternity today, but less than 2 years ago historically high oil prices made oil and gas company business executives, and likewise many industry project managers, giddy about large margins. Rather than focusing on an asset development’s long-term viability, it was easy for companies to authorize projects that promised high returns in the short run, despite sometimes even higher project uncertainty. Meanwhile, practices known to promote capital effectiveness and collaboration were cast aside. However, speed in delivering assets does not necessarily increase project value, and to make matters worse, project costs, including owner’s costs, skyrocketed.
The extent to which oil prices have fallen has been nauseating and these are dire times for the industry. However, the industry has seen such times before. Not unlike the chemicals industry today, the oil market context a few decades ago forced owner companies to learn to get by with razor thin margins. This talk will focus on the actions owners must take to get ahead of the market downturn and deliver successful projects. Owners have to reduce “company standards,” strengthen their use of owner-led project teams, and get EPC firms to rethink their approach to designs. We will also discuss the collective actions that Industry should pursue to reduce the number of specialists working on projects and to improve collaboration across all project functions. Most of these actions can start within individual project organizations justifiably stuck in survivalist mode.
Each event is scheduled to begin at 4:00pm with 30-minutes of networking followed by a 1-hour presentation and a 30-minute Q&A session. The room will remain available for an additional 30 minutes after the event to facilitate networking and one-on-one discussions.
Events are scheduled as follows:
• 4:00pm to 4:30pm – Sign in and Networking
• 4:30pm to 6:00pm – Presentation and Q&A
• 6:00pm to 6:30pm – Networking and Close
To register for individual events, click on the links below:
These events will be presented by industry recognized experts from the oil and gas community. They are perfect opportunities for either an introduction to project management, a refresher for the more seasoned individual, or just a great networking opportunity for those involved in this arena.
The PF&C Study group appreciates the support of our SPE-GCS members and we look forward to seeing you there.
Texas A&M Mays Business School at CityCentre
842 W . Sam Houston Parkway North Suite 200
Houston , TX 77024