Project Management in the Oil Industry

Paper Summary:

This paper discusses the importance and implementation of successful project management in order to transfer an oil refinery company's operating activities into a newly created subsidiary as well as to transform the crux of the business activity from cost to a profit center. In general, this paper describes project management as the discipline of organizing and managing resources, including people, in a manner that allows for the project to be completed within a defined scope, quality, time and cost constraints. Specifically, this paper defines the specific objectives of project management, such as ensuring optimized allocation and integration of all the inputs needed in order to meet the previously defined objectives, including the previously defined constraints. Also, the paper looks at successful methods of management, such as the project management body of knowledge (PMBOK) method, in which the project manager is responsible for supervising the activities and resources of the project to ensure that it is completed within the given constraints. Further, it examines Tom Robinette's equal triangle approach for working with the constraints of budget, project scope and timeline.

Outline:
Introduction
Project Integration Management
Basic Requirements
PMBOK
The Project Manager
Traditional Approach
Core KA
Functional Control
Human Resources
Project Management Essentials
Facilitating KA
Competing Constraints
Equal Triangle Approach
Role of Technology
Conclusion

From the Paper:

"To do this, the project manager must understand the real business problem that is being solved, create a solution for the problem, and then create a project team capable of implementing that solution. Further, it is essential that the project manager ensure that his or her team is committed to the project. To do this, the project manager must work with the team member's individual manager and take the necessary steps to ensure that all milestones and deliverables are being met. More so, using such external motivators as cash, especially when connected to performance reviews, is, according to Robinette, 'always a great motivator'."

Sample of Sources Used:

• Holtzman, Jay. (December 1999). "Getting Up to Standard". PM Network. Volume 13, Issue 12.
• Phillips, J. (2002). IT Project Management: On Track from Start to Finish. California: McGraw Hill/Osborne.
• Project Management Institute. (2007). A Guide to the Project Management Body of Knowledge. Project Management Institute.
• Schwalbe, K. (2007). Information Technology Project Management (5th ed.). Boston: Thomason Course Technology.

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