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10 Skills to be a Successful International Project Manager in 2018

13th December 2018
project-management-skills

Estimated reading time: 5 minutes 10 Skills to be a Successful International Project Manager in 2018   As project managers advance in their careers, getting certified in the field adds more credibility to their title and experience. Project management certifications are in demand and in the competitive and complex market, project management certifications hold a vital role in ensuring you stand out from the competition and increase your chances of getting hired. Some of the main reasons why you should get a certification as an international project manager include increased demand, acquire a unique set of skills and increased chances...

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Managing Human Failures for Human Factors Engineering

12th December 2018
Human Factors Engineering

Estimated reading time: 5 minutes Human Factors Engineering for Oil & Gas   Everyone can make errors no matter how well trained and motivated they are. However, in the workplace, the consequences of such human failure can be severe. Analysis of accidents and incidents shows that human failure contributes to almost all accidents and exposures to substances hazardous to health. Many major accidents were initiated by human failure. In order to avoid accidents and ill-health, companies need to manage human failure by properly integrating human factors in preparation for safety case. When preparing for safety case assessment, there is a...

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What is the impact of fraud and corruption in your organization?

11th December 2018
Risk

Estimated reading time: 3 minutes Combating Procurement Risk and Fraud Combating procurement fraud is vital due to the disastrous impacts’ procurement fraud brings. In Southeast Asia, procurement fraud costs US$140billion each year. Nearly all organisations will have been victims of procurement fraud and the consequences can be much greater than the value of the fraud. The most common types of fraud include kickbacks and bribes, bidding, variation abuse, billing, undisclosed interest, contract specifications and personal interest. For private sector organisations, successfully tackling fraud can boost profits by several percentage points. For governments, tackling procurement fraud effectively can boost its reputation, thus, attracting more...

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Importance of Data Management in the E&P industry

4th December 2018
E&P industry

Estimated reading time: 5 minutes   Historically, data collection has played a huge role in the Exploration and Production (E&P) industry. Data collection from various tools such as instruments, sensors, computer software and hand-written notes are important for conducting effective and efficient operations. Daily data collection can range from a few terabytes to a few petabytes, depending upon the phase of oil well life cycle and the complexity and modernity of the oil field. The predominant goal of the E&P industry is to produce maximum oil at the lowest cost possible with the highest degree of safety for all stakeholders....

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Examples on How Big Data Analytics Helps Achieve Competitive Advantage

29th November 2018
Big Data Analytics

Estimated reading time: 4 minutes   As more individuals and businesses become reliant on technology, more data is readily available and collected from various sources – computers, mobile devices, sensors, machine-to-machine technology, surveillance systems and more. By 2020, the amount of big data generated annual is expected to increase by 4300%. Various industries including retail, service, bioscience, manufacturing, medicine, agriculture, SEO, social media, espionage and many more, reap benefits from big data analytics. Thus, knowing how to leverage the data will allow the organisation to achieve competitive advantage. For example, oil and gas exploration relies on big data, using vast...

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Benefits of Succession Planning

28th November 2018
Succession Planning

Estimated reading time: 5 minutes   Research shows that most companies have little or no deliberate succession planning in place and are not aware of how much the lack of it can cost their organisation, especially in an unstable economy. A study showed that only 55% of directors claimed to understand the strengths and weaknesses of their executives well or very well, while 77% did not participate in the performance evaluations of their firm’s top executives other than the CEO. And only 7% of companies formally assigned a director to mentor senior executives below the CEO. Managing the succession of...

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Application of EPC contracts in the Global Power Industry

23rd November 2018
EPC Contracts

Estimated reading time: 2 minutes   The private sector is learning more towards more Engineering, Procurement and Construction (EPC) contracts when taking on large scale infrastructure projects. In every project, it is necessary to have good contract management in place; otherwise it can have negative consequences for all stakeholders involved. It will also affect the success of the project in terms of project timeline, project costs, project quality, safety aspects and more. The EPC contracting scheme could work very well for power projects, especially in the cases where the contractor fully understands all legal aspects of the contract, including the...

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Why Maintenance Management is Important for Plant Operations?

20th November 2018
Plant Maintenance

  The effective maintenance management within chemical plants is a critical feature of plant operation, both in establishing the conditions for safe ongoing operation of the plant after commissioning, and in supporting the commercial success of the business. While many companies focus on the cost of maintenance, it is important to focus on the benefits that efficient maintenance strategies provide. Ultimately, effective maintenance management contributes to a plants’ success – in terms of its ability to generate sustained improvements with time in the total (fixed and variable) cost per unit volume of production. The objectives of having a good plant...

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Key Features of Consideration of EPC Contracts

15th November 2018
EPC Contracts in the Global Power Industry

  The increasing demand for energy has led to an intensification of competition – not only between organisations within the same sector (i.e. coal power generation), but also from the growing alternative energy markets. The rise of ‘clean’ energy has led to a concerted, yet diverse technological development within fields such as wind; tidal and solar power generation facilities. Given these factors, organisations seek different ways in which to achieve a sustainable competitive advantage relevant to one another. One response to this has been to adopt a form of ‘risk transfer’ via outsourcing to make another party the ‘bearer’ of...

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What are the benefits of training staff?

14th November 2018
Training

  A survey by Work Institute revealed that the top reasons given by employees for leaving their jobs include lack of career development (22%), lack of support with work-life balance (12%), their manager’s behavior (11%), unsatisfactory compensation and benefits (9%), and poor well-being (9%). Hence, sending your staff for training not only keeps retention rate high, but improves staff morale by showing that you are investing in them. Furthermore, sending your staff for training and development courses not only benefits the individual, but also to the business, helping your company to run effectively and efficiently. Training improves business performance, profit...

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