East African oil ambitions will face challenges

2019 ◽  
Keyword(s):  
Decision Making ◽  
Oil And Gas ◽  
East African ◽  
Content Type ◽  
Left Behind

Subject Outlook for East African oil and gas developments. Significance Governments and industry players are looking to make progress on oil and gas projects, but their schemes still face a range of challenges. Impacts Tullow Oil seeks a partner to share costs and risks in Kenya, but industry players are likely to want more certainty before stepping in. Clarification on which of the region’s pipeline and refinery projects will progress to development would ease decision-making for investors. Regional political tensions will be stoked if Uganda and Tanzania are left behind as Kenya’s oil and Mozambique’s gas projects move ahead.

Multi-objective mathematical model based on fuzzy hybrid multi-criteria decision-making and FMEA approach for the risks of oil and gas projects

2020 ◽  
Vol 18 (6) ◽  
pp. 1997-2016
Author(s):  
Mohammad Khalilzadeh ◽  
Rose Balafshan ◽  
Ashkan Hafezalkotob
Keyword(s):  
Decision Making ◽  
Oil And Gas ◽  
Programming Model ◽  
Multi Criteria Decision Making ◽  
Content Type ◽  
Multi Objective ◽  
Response Strategies ◽  
Fuzzy Environment ◽  
Comprehensive Framework ◽  
Grey Relational

Purpose The purpose of this study is to provide a comprehensive framework for analyzing risk factors in oil and gas projects. Design/methodology/approach This paper consists of several sections. In the first section, 19 common potential risks in the projects of Pars Oil and Gas Company were finalized in six groups using the Lawshe validation method. These factors were identified through previous literature review and interviews with experts. Then, using the “best-worst multi-criteria decision-making” method, the study measured the weights associated with the performance evaluation indicators of each risk. Consequently, failure mode and effects analysis (FMEA) and the grey relational analysis (GRA)-VIKOR mixed method were used to rank and determine the critical risks. Finally, to assign response strategies to each critical risk, a zero-one multi-objective mathematical programming model was proposed and developed Epsilon-constraint method was used to solve it. Findings Given the typical constraints of projects which are time, cost and quality, of the projects that companies are often faced with, this study presents the identified risks of oil and gas projects to the managers of the oil and gas company in accordance with the priority given in the present research and the response to each risk is also suggested to be used by managers based on their organizational circumstances. Originality/value This study aims at qualitative management of cost risks of oil and gas projects (case study of Pars Oil and Gas Company) by combining FMEA, best worst and GRA-VIKOR methods under fuzzy environment and Epsilon constraints. According to studies carried out in previous studies, the simultaneous management of quantitative and qualitative cost of risk of oil and gas projects in Iran has not been carried out and the combination of these methods has also been innovated.

scholarly journals Perceived organizational politics and quitting plans: an examination of the buffering roles of relational and organizational resources

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dirk De Clercq ◽  
Renato Pereira
Keyword(s):  
Decision Making ◽  
Peer Relationships ◽  
Oil And Gas ◽  
Turnover Intentions ◽  
Organizational Leaders ◽  
Environment Change ◽  
Organizational Decision Making ◽  
Content Type ◽  
Decision Making Processes ◽  
Oil And Gas Sector

PurposeThe goal of this research is to examine the link between employees' beliefs that organizational decision-making processes are guided by self-serving behaviors and their own turnover intentions, as well as how this link may be buffered by four distinct resources, two that speak to the nature of peer exchanges (knowledge sharing and relationship informality) and two that capture critical aspects of the organizational environment (change climate and forgiveness climate).Design/methodology/approachQuantitative survey data were collected among 208 employees who work in the oil and gas sector in Mozambique.FindingsThe results indicate that employees' beliefs about dysfunctional political games stimulate their plans to quit. Yet this translation is less likely to occur to the extent that their peer relationships are marked by frequent and informal exchanges and that organizational leaders embrace change and forgiveness.Practical implicationsFor organizations, these findings offer pertinent insights into different circumstances in which decision-related frustrations are less likely to escalate into quitting plans. In particular, such escalation can be avoided to the extent that employees feel supported by the frequency and informal nature of their communication with colleagues, as well as the extent to which organizational leaders encourage change and practice forgiveness.Originality/valueThis study adds to extant research by explicating four unexplored buffers that diminish the risk that frustrations with politicized decision-making translate into enhanced turnover intentions.

scholarly journals Husband’s international migration

2019 ◽  
Vol 34 (1) ◽  
pp. 56-67
Author(s):  
Win Win Shwe ◽  
Aree Jampaklay ◽  
Aphichat Chamratrithirong ◽  
Suchada Thaweesit
Keyword(s):  
Decision Making ◽  
International Migration ◽  
Economic Status ◽  
Household Wealth ◽  
Cross Sectional ◽  
Women’S Autonomy ◽  
Content Type ◽  
Women's Autonomy ◽  
Left Behind ◽  
Selection Factors

Purpose The purpose of this paper is to understand the effects of the husband’s migration on wives’ decision-making autonomy. Design/methodology/approach The study setting is Magway Region of central Myanmar where poverty has driven adult males to migrate overseas. The study hypothesizes that the absence of husbands due to international migration leads to changes in the roles and decision-making power of left-behind wives. A cross-sectional survey was conducted in 22 villages of Pakkoku district, Magway Region, using the multi-stage random sampling method. The study sample included 205 migrant’s wives and 196 non-migrant’s wives. Findings The international migration of husbands has a strong and positive impact on left-behind wives’ autonomy independent of individual characteristics and household social and economic status. In addition, the findings show that the number of children and household wealth are positively associated with women’s autonomy, whereas household size shows a negative association. Research limitations/implications It is possible that there will be unmeasured selection factors such as unsuccessful migration as it might influence both husbands’ migration status and women’s autonomy. Cross-sectional data also invite a question about the causal relationship. For example, it might be possible that women with high autonomy may be more likely to encourage their husband to work abroad. So, the relationship might be the other way around. A further longitudinal study is also needed to describe detail explanation about the causal influence of left-behind women’s autonomy. Originality/value Successful international migration has a impact not only on women’s autonomy but also on household economic status in central rural Myanmar.

Prioritizing risks with composition of probabilistic preferences and weighting of FMEA criteria for fast decision-making in complex scenarios

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fábio Henrique de Souza ◽  
Luiz Octávio Gavião ◽  
Annibal Parracho Sant'Anna ◽  
Gilson B.A. Lima
Keyword(s):  
Decision Making ◽  
Oil And Gas ◽  
Virus Disease ◽  
Fast Response ◽  
Practical Case ◽  
Weighted Sum ◽  
Effect Analysis ◽  
Content Type ◽  
Prioritization Process ◽  
Project Objectives

PurposeThis study aims to develop a risk prioritization process using failure mode and effect analysis (FMEA) in association with composition of probabilistic preferences (CPP) and weighting the risk analysis criteria. It seeks to develop decision-making considering the fast response necessary to achieve project objectives in complex scenarios, such as the pandemic of COrona VIrus Disease 19 (COVID-19).Design/methodology/approachAfter identifying the risks, the prioritization process was applied to a project in the oil and gas area, in which a focus group assessed these risks. This evaluation took place employing traditional FMEA, FMEA with CPP by axes considering four points of view and FMEA with CPP by weighted sum with the use of a multicriteria method to weight the criteria. These approaches were compared to understand their differences and benefits, with a flow chart being developed, consolidating the procedure.FindingsThe methodologies that showed the greatest benefits were FMEA with CPP by axes PO (progressive-optimistic) and by weighted sum. Essentially, this was mainly related to the interrelationship between risks and to the importance of prioritization.Originality/valueThis procedure can consider company's views on what is critical and the interrelationship between risks. It provides a clear segmentation of what should and should not be prioritized. It was also developed in a practical case, showing a possible alternative to support fast responses in decision-making.

scholarly journals An integrated grey-based multi-criteria decision-making approach for supplier evaluation and selection in the oil and gas industry

Kybernetes ◽  
2019 ◽  
Vol 49 (2) ◽  
pp. 406-441 ◽  
Author(s):  
Mohamad Amin Kaviani ◽  
Amir Karbassi Yazdi ◽  
Lanndon Ocampo ◽  
Simonov Kusi-Sarpong
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Supplier Selection ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Supplier Evaluation ◽  
Multi Criteria Decision Making ◽  
Gas Industry ◽  
Content Type ◽  
Delphi Approach

PurposeThe oil and gas industry is a crucial economic sector for both developed and developing economies. Delays in extraction and refining of these resources would adversely affect industrial players, including that of the host countries. Supplier selection is one of the most important decisions taken by managers of this industry that affect their supply chain operations. However, determining suitable suppliers to work with has become a phenomenon faced by these managers and their organizations. Furthermore, identifying relevant, critical and important criteria needed to guide these managers and their organizations for supplier selection decisions has become even more complicated due to various criteria that need to be taken into consideration. With limited works in the current literature of supplier selection in the oil and gas industry having major methodological drawbacks, the purpose of this paper is to develop an integrated approach for supplier selection in the oil and gas industry.Design/methodology/approachTo address this problem, this paper proposes a new uncertain decision framework. A grey-Delphi approach is first applied to aid in the evaluation and refinement of these various available criteria to obtain the most important and relevant criteria for the oil and gas industry. The grey systems theoretic concept is adopted to address the subjectivity and uncertainty in human judgments. The grey-Shannon entropy approach is used to determine the criteria weights, and finally, the grey-EDAS (evaluation based on distance from average solution) method is utilized for determining the ranking of the suppliers.FindingsTo exemplify the applicability and robustness of the proposed approach, this study uses the oil and gas industry of Iran as a case in point. From the literature review, 21 criteria were established and using the grey-Delphi approach, 16 were finally considered. The four top-ranked criteria, using grey-Shannon entropy, include warranty level and experience time, relationship closeness, supplier’s technical level and risks which are considered as the most critical and influential criteria for supplier evaluation in the Iranian oil and gas industry. The ranking of the suppliers is obtained, and the best and worst suppliers are also identified. Sensitivity analysis indicates that the results using the proposed methodology are robust.Research limitations/implicationsThe proposed approach would assist supply chain practicing managers, including purchasing managers, procurement managers and supply chain managers in the oil and gas and other industries, to effectively select suitable suppliers for cooperation. It can also be used for other multi-criteria decision-making (MCDM) applications. Future works on applying other MCDM methods and comparing them with the results of this study can be addressed. Finally, broader and more empirical works are required in the oil and gas industry.Originality/valueThis study is among the first few studies of supplier selection in the oil and gas industry from an emerging economy perspective and sets the stage for future research. The proposed integrated grey-based MCDM approach provides robust results in supplier evaluation and can be used for future domain applications.

strategi dalam pengambilan keputusan

2019 ◽  
Author(s):  
Suci Handayani Handayani ◽  
Hade Afriansyah
Keyword(s):  
Decision Making ◽  
Imperfect Information ◽  
Economic Value ◽  
Decision Makers ◽  
Decision Making Process ◽  
Administrative Process ◽  
Left Behind ◽  
Information Time ◽  
Complex Matter ◽  
General Individuals

Decision making is one element of economic value, especially in the era of globalization, and if it is not acceptable in the decision making process, we will be left behind. According to Robins, (2003: 173), Salusu, (2000: 47), and Razik and Swanson, (1995: 476) say that decision making can be interpreted as a process of choosing a number of alternatives, how to act in accordance with concepts, or rules in solving problems to achieve individual or group goals that have been formulated using a number of specific techniques, approaches and methods and achieve optimal levels of acceptance.Decision making in organizations whether a decision is made for a person or group, the nature of the decision is often determined by rules, policies, prescribed, instructions that have been derived or practices that apply. To understand decision making within the organization it is useful to view decision making as part of the overall administrative process. In general, individuals tend to use simple strategies, even if in any complex matter, to get the desired solution, because the solution is limited by imperfect information, time and costs, limited thinking and psychological stress experienced by decision makers.

Impact of relatedness, uncertainty and slack on corporate entrepreneurship decisions

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Robert Garrett ◽  
Shaunn Mattingly ◽  
Jeff Hornsby ◽  
Alireza Aghaey
Keyword(s):  
Decision Making ◽  
Hierarchical Linear Modeling ◽  
Cognitive Strategies ◽  
Corporate Entrepreneurship ◽  
New Venture ◽  
Organizational Level ◽  
Linear Modeling ◽  
Slack Resources ◽  
Content Type ◽  
Positive Effect

PurposeThe purpose of this study is to evaluate the effect of opportunity relatedness and uncertainty on the decision of a corporate entrepreneur to pursue a venturing opportunity.Design/methodology/approachThe study uses a conjoint experimental design to reveal the structure of respondents' decision policies. Data were gathered from 47 useable replies from corporate entrepreneurs and were analyzed with hierarchical linear modeling (HLM).FindingsResults show that product relatedness, market relatedness, perceived certainty about expected outcomes and slack resources all have a positive effect on the willingness of a corporate entrepreneur to pursue a new venture idea. Moreover, slack was found to diminish the positive effect of product relatedness on the likelihood to pursue a venturing opportunity.Practical implicationsBy providing a better understanding of decision-making schemas of corporate entrepreneurs, the findings of this study help improve the practice of entrepreneurship at the organizational level. In order to make more accurate opportunity assessments, corporate entrepreneurs need to be aware of their cognitive strategies and need to factor in the salient criteria affecting such assessments.Originality/valueThis paper adds to the limited understanding of corporate-level decision-making with regard to pursuing venturing opportunities. More specifically, the paper adds new insights regarding how relatedness and uncertainty affect new venture opportunity assessments in the presence (or lack thereof) of slack resources.

Making investment decisions in stock markets using a forecasting-Markowitz based decision-making approaches

2019 ◽  
Vol 15 (2) ◽  
pp. 647-659 ◽  
Author(s):  
Zahra Moeini Najafabadi ◽  
Mehdi Bijari ◽  
Mehdi Khashei
Keyword(s):  
Decision Making ◽  
Time Series ◽  
Stock Markets ◽  
Time Series Prediction ◽  
Investment Decisions ◽  
Rate Of Return ◽  
Expected Returns ◽  
Prediction Methods ◽  
Content Type ◽  
Markowitz Model

Purpose This study aims to make investment decisions in stock markets using forecasting-Markowitz based decision-making approaches. Design/methodology/approach The authors’ approach offers the use of time series prediction methods including autoregressive, autoregressive moving average and artificial neural network, rather than calculating the expected rate of return based on distribution. Findings The results show that using time series prediction methods has a significant effect on improving investment decisions and the performance of the investments. Originality/value In this study, in contrast to previous studies, the alteration in the Markowitz model started with the investment expected rate of return. For this purpose, instead of considering the distribution of returns and determining the expected returns, time series prediction methods were used to calculate the future return of each asset. Then, the results of different time series methods replaced the expected returns in the Markowitz model. Finally, the overall performance of the method, as well as the performance of each of the prediction methods used, was examined in relation to nine stock market indices.

scholarly journals Segmentation of quantity surveying professional services for focus strategy and diversification

2019 ◽  
Vol 24 (3) ◽  
pp. 294-308
Author(s):  
Michael Adesi ◽  
De-Graft Owusu-Manu ◽  
Frank Boateng
Keyword(s):  
Oil And Gas ◽  
Sampling Technique ◽  
Simple Random Sampling ◽  
Professional Services ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
Content Type ◽  
Quantity Surveying ◽  
Focus Strategy

Purpose Notwithstanding that numerous studies have focused on strategy in quantity surveying (QS) professional service firms, there is a paucity of investigation on the segmentation of QS professional services. The purpose of this study is to investigate the segmentation of QS services for diversification and a focus strategy formation. Design/methodology/approach This study adopts the positivist stance and quantitative approach in which a simple random sampling technique was used to select participants. In total, 110 survey questionnaires were administered to registered professional QS, out of which 79 completed questionnaires were returned for analysis. Findings The paper identifies three main QS service segments characterised by low, moderate and high competition. In addition, this study found that the concentration of traditional QS services in the building construction sector is due to the unwillingness of QS professional service firms to diversify into the non-construction sectors such as oil and gas. The diversification of QS services in the low competitive segment requires the adoption of agile approaches. Research limitations/implications The study was limited to numeric analyses and so would be complemented by qualitative research in the future. Practical implications This paper is useful to QS professional service firms interested in diversifying their services into the non-construction sectors to enhance the pricing of their services. Originality/value Segmentation of QS services is fundamental to the formulation of focus strategy for non-construction sectors such as oil and gas and mining to enhance the pricing of QS professional services.

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