Managing the complexity of major capital projects in today’s oil and gas landscape has never been more critical. Against the backdrop of a decline in both global economic conditions and corporate revenues, stakeholders are demanding improved return on investment, reduced risk and exposure to risk and greater transparency. 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.
Large projects in the oil and gas industry make up a significant percentage of company spend, and therefore there must be particular focus on project management learning and development within the industry to deal with these complex projects.
20|20 Business Insight’s experience working in the Oil and Gas Industry suggests that while using project management best practices and having experienced project management talent are essential, they are not enough. Successful managers of large projects follow an understandable, consistent reference framework that guides their decisions and processes.
Successful companies continuously improve their project management skills as well as skills specific to oil and gas. A shortage of technical talent in the industry – destined to become more acute over the next seven years as a generation of experienced engineers retires – complicates the problem. Even so, as they approach projects of greater complexity and scope, companies cannot afford to bring second rate talent to the game. Jobs in the oil and gas sector are evolving. New technology and environmental regulation changes the face of the industry so having an educated and well trained staff is imperative.
Education and training shouldn’t end when the person is hired however. Nothing stays static, and in today’s ever changing energy environment that is more the case than ever. Effective training by experienced energy professionals can have a wide ranging impact on the individual being trained, the company he or she works for and the industry as a whole.
Career enhancement for the employees – For individual employees, continuing to learn and develop their professional skills and expand their knowledge base can lead to greater career opportunities within the company. Staying on top of best practices and growing on the job can insure that an employee will remain valuable to their employer. In good times, when the oil and gas industry is doing well, highly trained employees are well positioned to take on greater responsibilities and managerial roles.
Companies can retain their best employees – Productive employees are a company’s biggest asset and when they leave (or retire as mentioned earlier) they take with them years of experience, knowledge and skill. The company needs to retain its top talent, by keeping employees motivated, respected and appreciated. Investing in employees by providing them with opportunities to improve their skill level shows them that their contributions are valued by the company. Having a well trained employee base can also ultimately give the company a competitive advantage.
A competent workforce also benefits the industry as a whole – A well trained workforce contributes hugely to the entire oil and gas industry. There are many areas of competency to learn within the industry. Developing professionalism in all these areas, benefits all involved.
For further information about 20|20 Business Insight project management training courses or consulting services, follow these links:
Project Management Training courses – full course list
Project Management Training courses – open course schedule
Project Management Consulting Services