EARNED VALUE ANALYSIS, IMPLEMENTATION BARRIERS, AND MATURITY LEVEL IN OIL & GAS PRODUCTION

Zhaoxi Zhan, Chen Wang, Jeffrey Boon Hui Yap, Shaharudin Samsudin, Hamzah Abdul-Rahman

Abstract


Poor performance measurement practices in the oil and gas industry can cause project cost overruns, schedule delays, and scope increases. Earned value management, as an integrated project planning and control method measuring cost and schedule performance, enables the early detection of performance issues, and allows corrective actions to be implemented in a timely manner. Through a structured interview survey, this study aimed to identify the current maturity level of earned value management practice in Malaysian oil and gas firms to determine the barriers hindering the use of this practice, and to identify critical success factors for enhancing earned value management implementation in the oil and gas industry. The findings revealed the major barriers to earned value management implementation, and potential strategies to improve the effectiveness of earned value management practice in this industry.


Keywords


Gas industry; Oil drilling; Production management; Scheduling; Control charts

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DOI: https://doi.org/10.7166/30-4-2030

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Copyright (c) 2019 Zhaoxi Zhan, Chen Wang, Jeffrey Boon Hui Yap, Shaharudin Samsudin, Hamzah Abdul-Rahman


ISSN 2224-7890 (on-line) ; ISSN 1012-277X (print)


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