scholarly journals Agile methodology of well pad development

2020 ◽  
Vol 10 (8) ◽  
pp. 3483-3496
Author(s):  
Aleksandr Abramov
Keyword(s):  
Project Management ◽  
Net Present Value ◽  
Computational Study ◽  
Petroleum Industry ◽  
Development Projects ◽  
Agile Methodology ◽  
Modern Project ◽  
Degree Of Certainty ◽  
Unequal Number ◽  
High Degree

Abstract Placing of wells in clusters with unequal number of thereof is an emerging concept of well pad development which still requires scrutiny even from a theoretical standpoint. The concept has its potential in improving economic efficiency of one of the most capital intensive processes in upstream sector of petroleum industry—the well pad drilling. To advocate and strengthen this profitability enhancing potential, this work integrates clustering of unequal number of wells into modern project management methodologies (agile project management), which has not been done before. It is shown that such symbiosis, which is called here the adaptive well pad development (or agile methodology of well pad development), has twofold benefit consisting of (1) managing of and accounting for uncertainties of real projects and (2) further improving economic performance of development projects in comparison with standalone well pad configurations with unequal number of wells. To exemplify these advantages, detailed simulations of well pad drilling projects were performed with equal and unequal number of wells in clusters. The simulation model accounting for more than 40 parameters and individual features of wells shows that combination of unequal well clustering configurations with adaptation of well pad designs to updates in project parameters results in significant improvements to the net present value (NPV). For three drilling scenarios studied in this work, the NPV increments ranged from 8 to 36%. Additionally, it was found that groupings with unequal number of wells consistently outperform groupings with equal number of wells in uncertain conditions, and NPV improvements from 10 to 20% have been obtained. These findings enrich understanding of the vast space of clustering schemes with unequal number of wells and demonstrate how these well pad configurations can be applied to use ever-changing environment to one's advantage. On basis of this computational study, it is now valid to assert with high degree of certainty and confidence that industrial deployment of clustering with unequal number of wells in combination with proper organizational measures results in boost to the NPV of well pad development projects at the level of several to tens of percent.

IS Project Management Contemporary Research Challenges

2005 ◽  
pp. 1673-1678
Author(s):  
Maggie McPherson
Keyword(s):  
Information Technology ◽  
Project Management ◽  
Management Practices ◽  
Service Improvement ◽  
Development Projects ◽  
Public And Private ◽  
The Public ◽  
Modern Project ◽  
Modern Business ◽  
Traditional Fields

Although project management is often said to have its roots in other traditional fields, such as construction, Morris (2002) asserts that modern project management practices have their origins in the 1950s US aerospace agencies. Much has been written about Information System (IS) / Information Technology (IT) project initiatives in both the public and private sectors. In fact, many information systems frequently fall short of their requirements, and are, more often than not, costlier and arrive later than anticipated, if indeed they are completed at all. For instance, according to a report for the Organization for Economic Co-operation and Development (2001), failures of major IT investments and key systems development projects have raised concerns for the achievement of service improvement through information technology. Additionally, it has been argued that failures in IT projects are more common than failures in any other aspect of modern business (Nulden, 1996).

STUDY OF THE ORGANIZATION ADAPTIVITY RATE CORRELATION IN RELATION TO ITS INTERNAL INTEGRITY

2020 ◽  
Vol 3 (4) ◽  
pp. 292-304
Author(s):  
Inna O. Hordieieva ◽  
Valentina M. Molokanova
Keyword(s):  
Project Management ◽  
Stable State ◽  
Evolutionary Development ◽  
Current State ◽  
Modern Project ◽  
Development Processes ◽  
Methodological Principles ◽  
Internal Integration ◽  
Strategic Project ◽  
Rate Correlation

The focus of modern project management is increasingly shifting from the management of individual projects to the management of strategic project-oriented development of organizations. Now there is a need to pay more attention to project management as a universal tool for the development of systems at any level. The aim of the article is to study the processes of organization adaptation to constant changes through a synergetic portfolio of projects based on a strategic plan for the development and evolution of the organization. The spiral movement of systems development for studying development processes is considered: the process of transition of an organization from one stable state to another, the process of radical changes that accompanies innovation, as well as the processes of growth and development of crisis phenomena. The methodological principles of the organization evolutionary development management through the implementation of portfolio using its methods and tools are considered. It is proposed to manage the organization evolutionary development by building actions in the form of a synergistic portfolio of appropriate projects content, in order to increase the value of the entire portfolio of projects over the value of individual projects. The synergetic portfolio of projects is seen as a tool for a harmonious transition to the desired evolutionary state, by preserving the internal integrity of the organization and ensuring its sustainability. A mathematical model for estimating the desired properties and relations of the organizational synergetic portfolio of projects is proposed, which allows to determine and minimize the magnitude of the evolutionary goals inconsistency and to stabilize the current state of organization. It is determined that the two main tasks of any organization - external adaptation and internal integration - constantly push the organization to evolutionary development. The article proposes the author's approach to managing the organization evolutionary development through a portfolio of projects identifies indicators of adaptation of the organization to changes in the environment, defines the conditions for maintaining the integrity of the organization in the process of organizational changes.

Excellence in IT Project Management

2015 ◽  
Vol 6 (3) ◽  
pp. 71-84
Author(s):  
Michael Elliott ◽  
Ray Dawson
Keyword(s):  
Project Management ◽  
Career Paths ◽  
Step Change ◽  
It Project Management ◽  
Technology Learning ◽  
Agile Methodology ◽  
Current Thinking ◽  
It Project ◽  
Personal Skills ◽  
Silver Bullet

With almost thirty years since the start of our quest to find Fred Brooks' magical “Silver Bullet” to slay our productivity horrors, and twenty years since the first Standish report on IT project success and failures, are we getting closer? This paper discusses and challenges current thinking on process improvement initiates to provide answers of how we can significantly improve IT project productivity and consider that to achieve a step change in improvement requires a different approach. Recent Standish research has highlighted the Agile Methodology as being particularly successful for the smaller IT project. However, what specifically is creating this improvement? Is it the process itself or is there something that the process enables? The hypothesis presented is that in order to create the step change improvement in IT project management delivery, we need to significantly improve the inter-personal skills of the whole IT project management team. The revolution for improved productivity will stem from challenging the typical career paths of technology learning to provide a much greater focus on the softer skills.

A Statistical Predictive Model to Prioritize Site Selection for Stress Corrosion Cracking Direct Assessment

2006 ◽  
Author(s):  
Anthony Merle ◽  
P. F. Ehlers
Keyword(s):  
Stress Corrosion ◽  
Stress Corrosion Cracking ◽  
Environmental Parameters ◽  
Predictive Modelling ◽  
Corrosion Cracking ◽  
Direct Assessment ◽  
Degree Of Certainty ◽  
Regression Techniques ◽  
Selection For ◽  
High Degree

Pipeline stress-corrosion cracking (SCC) is an ongoing integrity concern for pipeline operators. A number of different strategies are currently employed to locate and mitigate SCC. Ultrasonic in-line inspection tools have proven capable of locating SCC, but reliability of these tools in gas pipelines remains in question. Rotating hydrotest programs are effectively employed by some companies but may not provide useful information as to the location of SCC along the pipeline. NACE Standard RP0204-2004 (SCC Direct Assessment Methodology) outlines factors to consider and methodologies to employ to predict where SCC is likely to occur, but even this document acknowledges that there are no well-established methods for predicting the presence of SCC with a high degree of certainty. Predictive modelling attempts to date have focused on establishing quantitative relationships between environmental factors and SCC formation and growth; these models have achieved varying degrees of success. A statistical approach to SCC predictive modelling has been developed. In contrast to previous models that attempted to determine direct correlations between environmental parameters and SCC, the new model statistically analyzed data from dig sites where SCC was and was not found. Regression techniques were used to create a multi-variable logistic regression model. The model was applied to the entire pipeline and verification digs were performed. The dig results indicated that the model was able to predict locations of SCC along the pipeline.

PROJECT MANAGEMENT IN THE TRANSITION TO A CIRCULAR ECONOMY

2021 ◽  
pp. 21-26
Author(s):  
Sergey Bushuyev ◽  
Denis Bushuiev ◽  
Victoria Bushuieva ◽  
Olena Verenych
Keyword(s):  
Project Management ◽  
Best Practices ◽  
Organizational Development ◽  
Circular Economy ◽  
Cost Effective ◽  
Life Cycles ◽  
Development Projects ◽  
Waste Products ◽  
The World ◽  
The Impact

The problem of creating effective models, methods and tools for strategic management of projects and programs for the development of organizations in the transition to a circular economy. Global trends in the development of organizations prove that the world is transforming with acceleration. The life cycle of knowledge and technologies for managing complex projects and programs is significantly reduced. The technical and technological complexity of organizational development projects increases due to innovations. These trends create significant challenges in the development of project management systems and programs for the formation of a circular economy in Ukraine. This is especially true of projects and programs in conditions of uncertainty about the impact of COVID 19 and anticipation of a global crisis after a pandemic. Today, the application of proven best practices (benchmarking) is no longer a way forward. Forming a vision, goals and strategy for the implementation of organizational development projects in advance makes our actions rigid, not flexible. When creating a project or program begins with focusing on what is valuable to our customers and the country, it is enough for us to use best practices. But the complexity and innovative orientation of development projects of organizations in the transition to a circular economy creates a number of challenges. One of the answers to these challenges is cost-effective work on project management and development programs, taking into account the trends of transition to a circular economy. Project management teams learn to distinguish between what is valuable and what doesn't matter, this is the path that management methodologies have taken for decades. A number of projects have taken the first steps in implementing the necessary cost-effective / flexible transition that supports sustainability and adaptability to turbulent environmental changes. In the conditions of modern destructive economic relations in the world community the problem of a choice of strategy of projects as drivers of development of the organizations is vital. One of the key approaches to the development of the EU is the transition to a circular economy with maximum utilization of both waste products and projects, and the disposal of project products after the end of product life cycles.

Significance of Building Information Modeling in Modern Project Management for Sustainable Smart City Applications

2021 ◽  
pp. 2141007
Author(s):  
Mengyi Lian ◽  
Xiaowei Liu
Keyword(s):  
Project Management ◽  
Internet Of Things ◽  
Smart City ◽  
Building Information Modeling ◽  
Information Modeling ◽  
The Internet ◽  
City Environment ◽  
Modern Project ◽  
Building Information ◽  
The Internet Of Things

Building information modeling (BIM) is one of the most exciting recent construction, engineering, and architecture developments. Built environments play a significant role in Smart City worldwide, and they are used to convey useful information to achieve smart city strategic goals. In modern project management, optimizing resources, BIM data integration, and data sharing in a smart city environment is challenging. Hence, in this paper, IoT-based Improved Building Information modeling (IoT-IBIM) has been proposed to overcome the challenges in building information modeling in modern project management for sustainable smart city applications. This paper discusses the efforts to create and integrate built-in environment data with IoT sensors for effective communication. The Internet of Things provides efficient resource control, increased efficiency, and improved human quality of life. As a result, the Internet of Things is a critical enabler of smart societies, including smart homes, smart cities, and smart factories. Building Information Modeling is an advanced asset allocation framework that generates high-quality output, reduces resource use, reduces environmental effects of development, and secures resources and availability for future generations. The experimental results show that the proposed IoT-IBIM method enhances the performance ratio and improves data integration and data sharing in a smart city environment.

scholarly journals Managing an Integrated Project - Experiences from the Realigning Agriculture to Improve Nutrition project

2016 ◽  
Vol 3 ◽  
pp. 5035 ◽  
Author(s):  
Kai Matturi ◽  
Chris Pain
Keyword(s):  
Project Management ◽  
International Development ◽  
Project Manager ◽  
Management Approach ◽  
Development Projects ◽  
Donor Funding ◽  
New Approach ◽  
Working Together ◽  
Common Goals ◽  
Integrated Project

Over the last number of decades there has been a tendency within the international development sector to privilege the management of projects in a siloed manner. This translates to projects managed in a narrow way according to pre-defined parameters of say the education or health sectors. As a project manager you are held accountable for delivering education or health outputs. A shift in donor funding to focus on development projects that are considered easy to administer partly explains this siloed approach to project management within the development sector. However, there is a gradual kick back against the siloed project management approach. Instead we are seeing a return to an integrated managerial approach.An integrated managerial approach involves bringing together various technical specialists to work on common objectives in a coordinated and collaborative manner. A growing number of development actors such as Concern Worldwide are embracing this ‘new approach’. For Concern Worldwide integrated projects are interventions which address multiple needs through coordination across a variety of sectors and with the participation of all relevant stakeholders to achieve common goals. Integrated projects are about sector projects working together with the same target group in the same area in a coordinated manner. This paper reflects on Concern’s experience and evidence to date with integration drawing on the agency’s work in Zambia. The Realigning Agriculture to Improve Nutrition project in Zambia highlights the practical challenges and lessons of managing an integrated project.   

scholarly journals Monte Carlo Simulation for Economic Analysis of Hydropower Pumped Storage Project in Nepal

2013 ◽  
Vol 12 ◽  
pp. 39-44 ◽  
Author(s):  
Kaspar Vereide ◽  
Leif Lia ◽  
Laras Ødegård
Keyword(s):  
Monte Carlo ◽  
Economic Analysis ◽  
Net Present Value ◽  
Simulation Method ◽  
Construction Costs ◽  
Energy And Environment ◽  
Pumped Storage ◽  
High Degree ◽  
Mc Method

Investments in hydropower pumped storage projects (PSP) are subjected to a high degree of uncertainty. In addition to normal uncertainties in hydropower schemes, the profit of a pumped storage scheme is dependent on the margin between power prices for buying and selling, which is difficult to predict without a power purchase agreement (PPA). A PSP without a PPA and without known construction costs requires quantification of the uncertainties in order to make qualified decisions before investing in such projects. This article demonstrates the advantages of using Monte Carlo (MC) simulations as a tool in the economic analysis of PSPs. The method has been tested on a case study, namely the Tamakoshi-3 Hydropower Project (HPP) in Nepal. The MC method is used to calculate the probability distribution of the net present value of installing reversible units in the Tamakoshi-3 HPP. The calculations show that PSPs may be profitable in Nepal, given a beneficial development of the power market. The MC method is considered to be a useful tool for economic analysis of PSPs. In this case study of installing reversible units in the Tamakoshi-3 HPP, there are many uncertainties, which the MC simulation method is able to quantify. Hydro Nepal; Journal of Water, Energy and Environment Vol. 12, 2013, January Page: 39-44DOI: http://dx.doi.org/10.3126/hn.v12i0.9031 Uploaded Date : 10/29/2013

Managing Information Technology Projects Using Agile Methodology

2021 ◽  
pp. 123-146
Author(s):  
Alice S. Etim ◽  
Chandra Prakash Jaiswal ◽  
Marsheilla Subroto ◽  
Vivian E. Collins Ortega
Keyword(s):  
Information Technology ◽  
Project Management ◽  
Developmental Stages ◽  
Sub Saharan Africa ◽  
It Projects ◽  
Information Technology Projects ◽  
Agile Methodology ◽  
It Project ◽  
Product Delivery ◽  
Sub Saharan

The management of information technology (IT) projects has experienced a shift from predictive and traditional project management methodology to more adaptive practices like Agile. Agile method and its developmental stages are a response to current business-changing trends and computing needs of society. The process assists in accelerating product delivery with rapid feedback and cost-conscious, consecutive iteration, distinguishing it from other traditional practices like the waterfall method. This chapter contributes to the existing literature by discussing agile project management for IT projects, with a specific case of the Africa IT project – the Books for Africa Project (hereafter called, Book Project). The first part of the chapter is used to review the literature on Agile IT projects. The Book Project as a case is an IT project, and it is discussed in detail in the chapter. The chapter concludes with transferable lessons for projects in developing countries, specifically those located in Sub-Saharan Africa.

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