Company Cost Accuracy Benchmark toward Industry Practice and International Guidelines at Project Phases Gate

2021 ◽  
Author(s):  
E. Indrawan
Keyword(s):  
Business Performance ◽  
Oil And Gas ◽  
Research Result ◽  
Business Environment ◽  
International Guideline ◽  
Project Control ◽  
Project Analysis ◽  
Industry Practice ◽  
Project Phases ◽  
Relationship Of

Research in the last decade is confirming that Oil & Gas Company consistently executes the project with an optimist cost estimate and an aggressive schedule. Cost accuracy of an Oil and Gas Company is benchmarked toward Industry Practices of Independent Project Analysis (IPA) research result and International Guideline of Association for the Advancement of Cost Engineering (AACE) & Guild of Project Control (GPC). Relationship of cost accuracy versus project definition deliverables, spent in % of Facility Installed Cost and End Usage are graph presented and assessed. Company authorizes the project with minimum project definition deliverables within International Guideline with an average of 30% less cost than Industry Practices. Company cost accuracy is on average 30% wider than Industry Practice and within International Guideline. Company cost accuracy remains strongly supports Company business performance in current oil & gas business environment.

Step Change Transformation of Legacy Rigs to Autonomous Drilling Rigs

2021 ◽  
Author(s):  
Sergey Ziatdinov ◽  
Titto Thomas Philip
Keyword(s):  
Capital Investment ◽  
Business Performance ◽  
High Performance ◽  
Human Error ◽  
Oil And Gas ◽  
Business Environment ◽  
The Past ◽  
Automation Systems ◽  
Negative Effect ◽  
Drilling Rigs

Abstract During the past decade, drilling automation systems have been an attractive target for a lot of operating and drilling companies. Despite progress in automation in various industries, like mining and downstream, the drilling industry has lagged far behind in the real application of autonomous technologies implementation. This can be attributed to harsh environment, high level of uncertainty in input data, and that majority of stock is legacy drilling rigs, resulting in capital intensive implementations. In the past years there have been several attempts to create fully automated rigs, that includes surface automation and drilling automation. Such solutions are very attractive, because they allow people to move out of hazardous zones and, at the same time, improve performance. However, the main deficiency of such an approach is the very high capital investment required for development of highly bespoke rigs (Slagmulder 2016). And in the current business environment, with high volatility in oil and gas prices, plus the huge negative effect of the Covid-19 crisis on the world's economic situation, it would be hard to imagine that there are a lot of companies willing to make such a risky investment. In addition to this, due to the lack of demand, the market is full of relatively new, high-performance rigs. Taking all these into account, the obvious question is whether it makes sense to invest money and time into the development of drilling automation. The answer should be yes, for three substantial reasons:Automation improves personal safety, by moving people out of danger zones;Automation improves process safety, by transferring execution from person to machine, which reduces the risk of human error;Automation improves efficiency by bringing consistency to drilling and through the use of self-learning algorithms, which allow machines to drill each successive well better than the previous. This paper will not look into surface automation, such as pipe-handling, chemical and mud handling on site. The paper is focused on the subsurface, namely on the drilling automation process, the challenges that need to be overcome to deploy a vendor agnostic system on a majority of existing rigs. A vendor agnostic system is a modification of an operator's autonomous drilling system (Rassenfoss 2011), designed to use existing rigs, BHAs, and have minimum footprint on the rigs for operational use. A vendor agnostic system will increase adoption of automated technologies and further drive improvements in operational and business performance

Pengaruh Pengetahuan Pemilik, Skala Usaha, dan Umur Usaha terhadap Keberhasilan Kinerja Usaha dengan Penggunaan Informasi Akuntansi sebagai Variabel Moderasi (Survei pada Pemilik Usaha UKM Makanan Khas di Kabupaten Banyumas)

2018 ◽  
Vol 6 (1) ◽  
pp. 23-48
Author(s):  
Hastin Tri Utami
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Significant Influence ◽  
Business Performance ◽  
Research Result ◽  
Accounting Information ◽  
Situational Factor ◽  
Small Medium Enterprises ◽  
Relationship Of ◽  
The Relationship

This study aimed to determine the influence of owner’s knowledge, business scale, busines life partially toward the success of business performance and also to determine the influence of owner’s knowledge, business scale, business life partially toward the success of business performance with using of accounting information as moderating variable. The population of this study is SME’s (Small Medium Enterprises) owners of Banyumas specialty food. Sample determining is using purposive sampling method. The respondents consist of 64 business owners. Hypotheses testing of this study use multiple linear regression and Moderated Regression Analysis (MRA). Based on the research result and data analysis using multiple linear regression and MRA show that : (1) owner’s knowledge has positive significant influence to the success of business performance; (2) business scale has positive significant influence to the success of business performance; (3) business life has positive significant influence to the success of business performance; (4) using of accounting information moderated positively toward the relationship of owner knowledge to the success of business performance; (5) using of accounting information moderated positively toward the relationship of business scale to the success of business performance; (6) using of accounting information moderated positively toward the relationship of business life to the success of business performance. The limitation of this study are: (1) independent variables only focus on internal business factors such as owner’s knowledge, business scale, and business life; (2) situational factor which is used as moderating variable in this study only one situational factor that is using of accounting information.

Technology transfer from British to Vietnamese industrial companies - venturing into a new business culture

2018 ◽  
Vol 34 (2) ◽  
Author(s):  
Ca Tran Ngoc
Keyword(s):  
Technology Transfer ◽  
Transfer Process ◽  
Oil And Gas ◽  
Service Industry ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Background Information ◽  
Business Culture ◽  
Industrial Companies ◽  
New Business

The paper examines the process of technology transfer from British industrial companies to Vietnamese companies, to look at the obstacles of this process, especially in dealing with different business culture environments. The study uses the case studies method, conducting interviews with about ten companies working in oil and gas service industry. Since this is only a first stage of the longer term project, only preliminary results were discussed. Therefore, a company in civil engineering consulting has been examined for comparison. The paper argues that the differences in perception of the same operation activity like service in oil and gas industry are crucial factors to take into account if the transfer process is to be successful. Also, the transferor and the recipient may have different behaviour in negotiating, in communicating with each other. Thus, the preparation of background information, to do "home work", patience and pro-active attitudes in trying to understand partners are important for transferring technology into different business environment.   In addition, the factors, sometime not very technology-related, such as internal political motives and organisational issues of the firms involved can be very influential in the success of technology transfer process.

Relation Between Metacognitive Ability with Science Process Skills on Grade 8th Students in MTs Negeri 3 Parigi

2020 ◽  
Vol 3 (1) ◽  
pp. 8-13
Author(s):  
Moch. Munir ◽  
Amiruddin Kade ◽  
Muslimin Muslimin
Keyword(s):  
Research Result ◽  
Reverse Direction ◽  
Process Skills ◽  
Science Process Skills ◽  
A Value ◽  
Regression Test ◽  
Feasibility Test ◽  
Relationship Of ◽  
The Relationship ◽  
Academic Year

This study aims to determine the relations between metacognitive to science process skills on grade VIII students MTs Negeri 3 Parigi. This research is descriptive, the approach used is a quantitative approach, manifested in the form of numbers analyzed by statistics and the results are described. The population is students of MTs Negeri 3 Parigi Academic Year 2017-2018 with a population of three classes, with a sample of 30 students. The instrument used is a metacognitive questionnaire consisting of 50 questions and an essay about science process skills 6 questions test. The result of the prerequisite test of the research result is all metacognitive indicators of normal and linear distributed and based on the regression feasibility test show that all data is feasible for regression test. The result of the regression test and test of determination to obtain a value which is not significant. Based on the results of the research analysis it can be concluded that the relationship of each metacognitive indicator to science process skills was not significant even there were metacognitive indicators that reverse direction significantly. The magnitude of the relationship of each metacognitive indicator with science process skills maximum 15.3%.  

The Optimal Diversification Strategy in Pharmaceutical Industry: Balance-centred or Hetero-centred?

2021 ◽  
pp. 097172182110056
Author(s):  
Keungoui Kim ◽  
Junseok Hwang ◽  
Sungdo Jung ◽  
Eungdo Kim
Keyword(s):  
Business Performance ◽  
Business Environment ◽  
Product Diversification ◽  
Diversification Strategy ◽  
Firm Level ◽  
Data Set ◽  
Pharmaceutical Firms ◽  
Level Data ◽  
Market Product ◽  
High Uncertainty

Due to high uncertainty of product development and business environment, firm-level diversification has been regarded as one of the most effective methods in pharmaceutical firms. In previous study, firm-level diversification was discussed by different value chains of market, product, and technology. However, in most cases, the diversification itself was adopted in a simple manner although its property contains different aspects and the results varies depending on the diversity property of selected index. In addition, the existing approach for measuring firm’s product/market diversification using sales information distinguished by standard industry classification cannot provide direct implication as different strategies are made for market and product diversification. Therefore, this study examines the effects of firm-level diversification on business and innovation performances in pharmaceutical firms by considering (1) three diversification types: market, product, and technology, (2) clear separation between market and product diversification, and (3) two diversification perspectives: balance-centred and hetero-centred. For empirical analysis, an integrated firm-level data set combining from Medtrack, Orange Book, Compustat and Total Patent database is used. From the result, in case of market diversification, less market heterogeneity causes significant influence on business performance. For product and technology, a concentrated and greater heterogeneity of product diversification are turned out to promote business performance, while the more intensive and heterogeneous technology diversification has been shown to improve innovation performance.

Alternative Contracting Approaches in Current Oil and Gas Business Environment

2021 ◽  
Author(s):  
Keith Bradford Critzer ◽  
Douglas Andrew Colbert
Keyword(s):  
Oil And Gas ◽  
Business Environment ◽  
Market Conditions ◽  
Project Outcomes ◽  
Lump Sum ◽  
Current State ◽  
Alternative Approaches ◽  
Financial Impacts ◽  
Oil And Gas Sector ◽  
Broad Overview

Abstract This paper presents a broad overview of the current state of the oil and gas engineering, procurement, and construction (EPC) contractor base following a period of challenging market conditions, subsequent owner/operator investment deferments, and the resulting financial impacts to the contractor base. These factors have caused a reduced tolerance for oil and gas volatility and a reduced appetite for lump sum contract risk. This paper identifies alternative contracting approaches to traditional competitively bid lump sum contracting. These alternative approaches result in a better understanding and assignment of risk between owner/operator and contractor, encourage continued participation by contractors in the oil and gas sector, and increase the probability of successful project outcomes.

scholarly journals On the Estimation of Cost of Equity using Industrial CAPM Approach

2020 ◽  
pp. 84-94
Author(s):  
Hassan Raza ◽  
Aijaz Mustafa Hashmi ◽  
Abdul Rasheed
Keyword(s):  
Family Environment ◽  
Risk Premium ◽  
Mutual Fund ◽  
Business Environment ◽  
Agency Cost ◽  
Risk Premiums ◽  
Fund Managers ◽  
Global Investors ◽  
Relationship Of ◽  
Industry Risk

This paper is an attempt to empirically investigate the industrial risk premium and realized return relationship by extending hybrid CAPM of Bodnar, Dumas, and Marston (2004). The inclusion of the industry risk premium offers more sophisticated results. Fama and Macbeth (1973) methodology are applied to test this relationship. The results indicate that there is a positive and significant relationship of the industry risk premium for Pakistan, India, and Brazil, whereas, it is insignificant for China, Russia, and South Africa. It is also seen that other risk premiums are insignificant for the said countries if industry risk premium is considered. The results also indicate that industry risk premium is only significant for those countries where the firms are mostly operated through the family business environment like Pakistan, India, and Brazil. This may lead to conclude that the industry risk premium can be used as the agency cost of minatory shareholders and controlling shareholders. This study provides an insight for the global investors, FPI holders, local and global mutual fund managers, to incorporate this industry risk premium into the existing CAPM framework especially for the countries where the business is managed as a family environment.

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