Oil & Gas—a high risk industry
The Oil & Gas industry is affected by operational, financial, and regulatory processes that are far more complex than in many other industries. Consequently, companies that strive to be successful in this project-oriented business must be able to quickly recognize and act upon industry changes as well as changes within on-going projects.
Any failings or delays in these high-value projects have considerable financial and/or environmental consequences. The requirements of geographically dispersed and cross-organizational teams put extreme pressure on stakeholders to ensure that all involved parties have access to the latest information and documents.
Tough solution requirements
The stakes and risks of Oil & Gas projects, along with their associated costs and complexities, are certainly putting available support solutions to the test. Needless to say, the capability to efficiently manage projects of various sizes and complexity is crucial for staying competitive.
Unfortunately, many of the companies struggle with non-integrated, fragmented support solutions. A common obstacle is how projects are being organized and supported, where the lack of an overall overview results in reduced project management and decision-making capabilities.