Www.vustudents.ning.com BlackMist MCXXXXXXXXX Masters in Business Administration (Management)

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www.vustudents.ning.com BlackMist BlackMist MCXXXXXXXXX MCXXXXXXXXX Masters in Business Masters in Business Administration Administration (Management) (Management)

Transcript of Www.vustudents.ning.com BlackMist MCXXXXXXXXX Masters in Business Administration (Management)

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BlackMistBlackMistMCXXXXXXXXXMCXXXXXXXXX

Masters in Business AdministrationMasters in Business Administration(Management)(Management)

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Project Management: Project Management: Factors Critical for the Success of Factors Critical for the Success of

Projects in Oil & Gas Sector of Projects in Oil & Gas Sector of KuwaitKuwait

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IntroductionIntroductionProjectProjectProject is a specific activity or process carried out to achieve a Project is a specific activity or process carried out to achieve a specific output which could be a service, specific product or a specific output which could be a service, specific product or a desired result.desired result.

Project Management Project Management Project Management is the methodology which details the Project Management is the methodology which details the process, tools and techniques and defines the tasks / activities process, tools and techniques and defines the tasks / activities required to meet the deliverables of a project and requirements of required to meet the deliverables of a project and requirements of stakeholders stakeholders

Focus Focus Engineering Procurement & Construction (EPC) or Procurement Engineering Procurement & Construction (EPC) or Procurement & Construction (PC) projects in Oil & Gas Sector of Kuwait.& Construction (PC) projects in Oil & Gas Sector of Kuwait.

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BackgroundBackground

Project life cycles can be categorized in terms of:Project life cycles can be categorized in terms of:

• Five (5) Project Phases Five (5) Project Phases

• Nine (9) Project Management Knowledge Nine (9) Project Management Knowledge AreasAreas

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Project PhasesProject Phases

• Initiating: Initiating: Identify objectives & create scopeIdentify objectives & create scope

• Planning: Planning: Assess & allocate resources to meet objectives Assess & allocate resources to meet objectives by devising plans for execution.by devising plans for execution.

• Executing: Executing: Execute the project based on the plans Execute the project based on the plans developed.developed.

• Monitoring & Control: Monitoring & Control: Verification of outcomes of Verification of outcomes of execution phase against the objectives and taking corrective execution phase against the objectives and taking corrective actions.actions.

• Closing: Closing: Close or terminate projects upon achievement of Close or terminate projects upon achievement of objectivesobjectives

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Project Management Knowledge Project Management Knowledge AreasAreas

Project Integration ManagementProject Integration Management

This knowledge area deals with co-ordination and integration of This knowledge area deals with co-ordination and integration of various project processes. This area has following functions:various project processes. This area has following functions:

• Develop Project CharterDevelop Project Charter

• Create Project Management PlanCreate Project Management Plan

• Directing & Managing ProjectDirecting & Managing Project

• Monitoring & Controlling ProjectMonitoring & Controlling Project

• Integrated Change ControlIntegrated Change Control

• Project ClosingProject Closing

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Project Scope Management: Project Scope Management:

Objectives are broken down into specific workable activities. The Objectives are broken down into specific workable activities. The processes in this area include:processes in this area include:

• Collecting Project requirementsCollecting Project requirements

• Developing Work Breakdown Structure (WBS)Developing Work Breakdown Structure (WBS)

• Verifying deliverables against ScopeVerifying deliverables against Scope

• Controlling scope to ensure it is unchangedControlling scope to ensure it is unchanged

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Project Time ManagementProject Time Management

This knowledge area deals with effective time management for This knowledge area deals with effective time management for carrying out the activities to achieve project objectives. The carrying out the activities to achieve project objectives. The processes involved are:processes involved are:

• Defining activitiesDefining activities

• Sequencing the activitiesSequencing the activities

• Estimating the resourcesEstimating the resources

• Assessing time for activitiesAssessing time for activities

• Developing project scheduleDeveloping project schedule

• Establishing control on the scheduleEstablishing control on the schedule

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Project Cost ManagementProject Cost Management

This knowledge area deals with estimating costs for activities and This knowledge area deals with estimating costs for activities and developing project budget. The processes involved are:developing project budget. The processes involved are:

• Estimating costs for activitiesEstimating costs for activities

• Developing project budgetDeveloping project budget

• Monitoring & Controlling costsMonitoring & Controlling costs

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Project Quality ManagementProject Quality Management

This knowledge area managing project’s quality by evaluating This knowledge area managing project’s quality by evaluating the accuracy of results against quality policy, objectives and the accuracy of results against quality policy, objectives and standards. Quality controls are implemented through various standards. Quality controls are implemented through various Quality control tools and techniques. The processes involved Quality control tools and techniques. The processes involved are:are:

• Planning QualityPlanning Quality

• Establishing Quality AssuranceEstablishing Quality Assurance

• Monitoring & Controlling qualityMonitoring & Controlling quality

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Project Human Resource ManagementProject Human Resource Management

Project Human Resource Management is concerned with Project Human Resource Management is concerned with developing project team (human resource) and managing developing project team (human resource) and managing them. The processes involved are:them. The processes involved are:

• Develop Human Resource PlanDevelop Human Resource Plan

• Acquire Project TeamAcquire Project Team

• Developing Project TeamDeveloping Project Team

• Managing the Project TeamManaging the Project Team

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Project Communications ManagementProject Communications Management

This knowledge management area deals with the storage, This knowledge management area deals with the storage, retrieval, transfer and exchange of information. The processes retrieval, transfer and exchange of information. The processes involved are:involved are:

• Identification of stakeholdersIdentification of stakeholders

• Developing communication planDeveloping communication plan

• Distribution or transfer of information.Distribution or transfer of information.

• Managing stakeholder’s expectationsManaging stakeholder’s expectations

• Performance reportingPerformance reporting

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Project Risk ManagementProject Risk Management

This knowledge management area deals with the evaluation and This knowledge management area deals with the evaluation and management of risks to minimize or eliminate their impact on management of risks to minimize or eliminate their impact on a project. The processes involved are:a project. The processes involved are:

• Planning riskPlanning risk

• Identifying the riskIdentifying the risk

• Performing quality risk analysisPerforming quality risk analysis

• Performing quantity risk analysisPerforming quantity risk analysis

• Developing risk response planDeveloping risk response plan

• Monitoring & Controlling risks.Monitoring & Controlling risks.

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Project Procurement ManagementProject Procurement Management

This knowledge management area is concerned with the This knowledge management area is concerned with the management of procurement process. Procurements are made management of procurement process. Procurements are made both for products and services and need to be managed. The both for products and services and need to be managed. The processes involved are:processes involved are:

• Planning procurementPlanning procurement

• Conducting procurementConducting procurement

• Administering procurementAdministering procurement

• Closing procurementClosing procurement

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Previous ResearchesPrevious Researches

What are Critical Success Factors ? What are Critical Success Factors ?

• Critical success factors are the dimensions of project Critical success factors are the dimensions of project management whose influence contributes successful outcomes management whose influence contributes successful outcomes of a project. (of a project. (Bakkar, Razak, Abdullah, & Awang, n.d))

• ““Success factors are those inputs to the management system Success factors are those inputs to the management system that lead directly or indirectly to the success of project or that lead directly or indirectly to the success of project or business”. (business”. (Cooke-Davies, 2002))

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Summary of Critical Success Factors Based Summary of Critical Success Factors Based on Previous Researcheson Previous Researches

Previous researches have identified following critical success Previous researches have identified following critical success factors in terms of project management for success of a projectfactors in terms of project management for success of a project

•CostCost

•TimeTime

•ScopeScope

•Customer Satisfaction and acceptanceCustomer Satisfaction and acceptance

•QualityQuality

•Project Team (Human Resource)Project Team (Human Resource)

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Organization & Business SectorOrganization & Business Sector

KCC Engineering & Contracting Co. (KCCEC) is in contracting KCC Engineering & Contracting Co. (KCCEC) is in contracting business and has experience in carrying out design, engineering, business and has experience in carrying out design, engineering, procurement, construction, testing, commissioning and procurement, construction, testing, commissioning and Maintenance projects with a human resource exceeding 5,200 Maintenance projects with a human resource exceeding 5,200 personnel. The company has several departments including Oil & personnel. The company has several departments including Oil & Gas projects department which was taken up for this project.Gas projects department which was taken up for this project.

KCCEC executes Oil & Gas projects for various clients like KCCEC executes Oil & Gas projects for various clients like KOC, KNPC, PIC which are operated by state owned body KOC, KNPC, PIC which are operated by state owned body known as Kuwait Petroleum corporation (KPC). KPC was known as Kuwait Petroleum corporation (KPC). KPC was established in 1980 with the aim of managing petroleum and established in 1980 with the aim of managing petroleum and hydrocarbon activities both inside and outside Kuwait. hydrocarbon activities both inside and outside Kuwait.

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Objectives and SignificanceObjectives and Significance

Objectives:Objectives:

• To identify the critical factors for the success of EPC To identify the critical factors for the success of EPC (Engineering, Procurement & Construction) or PC (Engineering, Procurement & Construction) or PC (Procurement & Construction) projects in Oil and gas industry (Procurement & Construction) projects in Oil and gas industry of Kuwait of Kuwait

• To compare the identified factors with previous researches To compare the identified factors with previous researches

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Significance:Significance:

• Understanding project management processes, its tools, Understanding project management processes, its tools, techniques and factors that are critical for success of projects techniques and factors that are critical for success of projects in Oil & Gas sector of Kuwait.in Oil & Gas sector of Kuwait.

• Will enable observation of roles of several factors in Will enable observation of roles of several factors in influencing the project’s execution.influencing the project’s execution.

• Holds importance for me as I am working in an organization Holds importance for me as I am working in an organization that executes projects in Oil & Gas sector of Kuwait.that executes projects in Oil & Gas sector of Kuwait.

• To enable stakeholders to assess the factors that govern the To enable stakeholders to assess the factors that govern the success of projects in Oil & Gas sector of Kuwait.success of projects in Oil & Gas sector of Kuwait.

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Research MethodologyResearch Methodology

Data Collection Sources & Tools:Data Collection Sources & Tools:

Sources: Sources: • Primary data was collected from the employees of KCCEC.Primary data was collected from the employees of KCCEC.• Secondary data was collected from KCCEC’s website, PMBOK Secondary data was collected from KCCEC’s website, PMBOK

(Project Management Body of Knowledge) and books and (Project Management Body of Knowledge) and books and journals of project management.journals of project management.

ToolsTools

• A structured questionnaire designed on Likert scale was A structured questionnaire designed on Likert scale was developed for collecting the participant’s responses. developed for collecting the participant’s responses.

• It consisted of the demographic information of participants and It consisted of the demographic information of participants and their feedback on the nine Project Management Knowledge their feedback on the nine Project Management Knowledge Areas. Areas.

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The questionnaire was based on nine (9) knowledge areas with The questionnaire was based on nine (9) knowledge areas with each knowledge area having about 4-7 items. each knowledge area having about 4-7 items.

The question were ranked from strongly disagree to strongly The question were ranked from strongly disagree to strongly agree.agree.

Each element of the scale was coded as follows: Each element of the scale was coded as follows:

•Strongly disagreeStrongly disagree : 1: 1

•DisagreeDisagree : 2: 2

•NeutralNeutral : 3: 3

•AgreeAgree : 4: 4

•Strongly agreeStrongly agree : 5: 5

Subjects / ParticipantsSubjects / Participants

Participants were the employees of KCCEC that have been Participants were the employees of KCCEC that have been involved in projects at various levels of project management like involved in projects at various levels of project management like project director, project managers and project engineers working project director, project managers and project engineers working in Oil & Gas Department of KCCEC in Oil & Gas Department of KCCEC

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Sample Size & Sampling TechniqueSample Size & Sampling Technique

• Total population size was 14, and the sample size was 7.Total population size was 14, and the sample size was 7.

• The sampling technique employed for collection of primary The sampling technique employed for collection of primary data was convenience sampling due to lack of time available data was convenience sampling due to lack of time available to complete the project as per the semester calendar. to complete the project as per the semester calendar.

• Convenience sampling was used and participants that were Convenience sampling was used and participants that were readily available at the company office were approached for readily available at the company office were approached for acquiring data.acquiring data.

Sample included:Sample included:

• Project Director (Oil & Gas Division) – 1 No.Project Director (Oil & Gas Division) – 1 No.

• Project Managers (Oil & Gas Division) – 3 Nos.Project Managers (Oil & Gas Division) – 3 Nos.

• Project Engineers (Oil & Gas Division) – 3 Nos.Project Engineers (Oil & Gas Division) – 3 Nos.

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Data ProcessingData Processing

The primary data obtained from participants were analyzed with The primary data obtained from participants were analyzed with the help of SPSS using factor analysis technique. The responses the help of SPSS using factor analysis technique. The responses in the collected data were assigned values as follows:in the collected data were assigned values as follows:

•Strongly disagreeStrongly disagree 1 1

•DisagreeDisagree 2 2

•NeutralNeutral 3 3

•AgreeAgree 4 4

•Strongly AgreeStrongly Agree 5 5

This factor analysis technique was used to identify the key / This factor analysis technique was used to identify the key / critical factors for success of projects. critical factors for success of projects.

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Phase 1Phase 1Firstly, factor analysis was carried out on each knowledge area Firstly, factor analysis was carried out on each knowledge area to reduce the number of items and relevant/ significant items of to reduce the number of items and relevant/ significant items of each knowledge area were identified. Also, nine new variables each knowledge area were identified. Also, nine new variables were formulated representing nine knowledge areas.were formulated representing nine knowledge areas.

Phase 2Phase 2In second phase, factor analysis was applied on the nine new In second phase, factor analysis was applied on the nine new variables representing the nine knowledge areas to identify the variables representing the nine knowledge areas to identify the critical success factors. critical success factors.

The findings from the factor analysis are discussed in next The findings from the factor analysis are discussed in next sectionsection

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Data AnalysisData Analysis

Phase 1: Nine (9) Knowledge AreasPhase 1: Nine (9) Knowledge Areas

Project Integration Management:Project Integration Management:

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This analysis indicates four critical factors/ items from the This analysis indicates four critical factors/ items from the knowledge area of Project Integration Management – explaining knowledge area of Project Integration Management – explaining 49% of variation. The factors are:49% of variation. The factors are:

•Project charter should be developed for each project.Project charter should be developed for each project.

•Snag list is prepared while closing the project.Snag list is prepared while closing the project.

•Project charter is developed in my organization.Project charter is developed in my organization.

•Projects are successful without making necessary updation / Projects are successful without making necessary updation / changes in the project.changes in the project.

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Project Scope Management:Project Scope Management:

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This analysis indicates five critical factors/ items from the This analysis indicates five critical factors/ items from the knowledge area of project scope management – explaining 45% knowledge area of project scope management – explaining 45% of variation. The factors are:of variation. The factors are:

•Scope acceptance criteria can be developed during the progress Scope acceptance criteria can be developed during the progress of a project. of a project.

•Project deliverables verification is not necessary as the project Project deliverables verification is not necessary as the project activities are carried out as planned.activities are carried out as planned.

•Breaking down scope into specific doable activities is preferred.Breaking down scope into specific doable activities is preferred.

•Collecting the requirements of stakeholders is not importantCollecting the requirements of stakeholders is not important

•Major variations in the project scope are not acceptable.Major variations in the project scope are not acceptable.

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Project Time Management:Project Time Management:

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This analysis indicates two critical factors/ items from the This analysis indicates two critical factors/ items from the knowledge area of project time management – explaining 39% of knowledge area of project time management – explaining 39% of variation. The factors are:variation. The factors are:

•Resources can be acquired based on the progress of a project. Resources can be acquired based on the progress of a project.

•An activity can be completed at the given time if required An activity can be completed at the given time if required resources are readily available.resources are readily available.

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Project Cost Management:Project Cost Management:

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This analysis indicates two critical factors/ items from the This analysis indicates two critical factors/ items from the knowledge area of project cost management – explaining 42% of knowledge area of project cost management – explaining 42% of variation. The factors are:variation. The factors are:

•Resources’ planning is an essential part for managing project Resources’ planning is an essential part for managing project costs. costs.

•Meeting the allocated budget for a project is always aimed.Meeting the allocated budget for a project is always aimed.

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Project Quality Management:Project Quality Management:

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This analysis indicates two critical factors/ items from the This analysis indicates two critical factors/ items from the knowledge area of project quality management – explaining 48% knowledge area of project quality management – explaining 48% of variation. The factors are:of variation. The factors are:

•Project performance should be measured on regular basis to Project performance should be measured on regular basis to ensure project’s compliance to quality standards.ensure project’s compliance to quality standards.

•Quality control is not required if the output is visibly acceptable.Quality control is not required if the output is visibly acceptable.

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Project Human Resource Management:Project Human Resource Management:

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This analysis indicates three critical factors/ items from the This analysis indicates three critical factors/ items from the knowledge area of project human resource management – knowledge area of project human resource management – explaining 58% of variation. The factors are:explaining 58% of variation. The factors are:

•Using fixed team for every type of project. Using fixed team for every type of project.

•Team members should not be replaced even if their performance Team members should not be replaced even if their performance is not satisfactoryis not satisfactory

•Project team’s performance should be evaluated once the project Project team’s performance should be evaluated once the project is complete.is complete.

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Project Communications Management:Project Communications Management:

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This analysis indicates three critical factors/ items from the This analysis indicates three critical factors/ items from the knowledge area of project communications management – knowledge area of project communications management – explaining 47% of variation. The factors are:explaining 47% of variation. The factors are:

•Relaying information to selective personnel only.Relaying information to selective personnel only.

•Project progress reporting to stakeholders is not necessaryProject progress reporting to stakeholders is not necessary

•Discussions with stakeholders do not benefit project progress.Discussions with stakeholders do not benefit project progress.

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Project Risk Management:Project Risk Management:

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This analysis indicates three critical factors/ items from the This analysis indicates three critical factors/ items from the knowledge area of project risk management – explaining 47% of knowledge area of project risk management – explaining 47% of variation. The factors are:variation. The factors are:

•Using experience for identification of risks.Using experience for identification of risks.

•Devising action plan to handle crucial risks.Devising action plan to handle crucial risks.

•Measuring probabilities and consequences of risks and Measuring probabilities and consequences of risks and estimating their implications on project objectives.estimating their implications on project objectives.

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Project Procurement Management:Project Procurement Management:

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This analysis indicates three critical factors/ items from the This analysis indicates three critical factors/ items from the knowledge area of project procurement management – explaining knowledge area of project procurement management – explaining 44% of variation. The factors are:44% of variation. The factors are:

•Making formal contract with each vendor.Making formal contract with each vendor.

•Obtaining quotations, asking for bids and offers to procure is Obtaining quotations, asking for bids and offers to procure is important.important.

•It is supplier’s responsibility to meet the commitment and no It is supplier’s responsibility to meet the commitment and no further monitoring is required once an order or contract is placed.further monitoring is required once an order or contract is placed.

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Finally, in this phase, Nine (9) new variables were formulated Finally, in this phase, Nine (9) new variables were formulated from the collected data using factor analysis representing nine (9) from the collected data using factor analysis representing nine (9) knowledge areas as follows:knowledge areas as follows:

•Project Integration ManagementProject Integration Management

•Project Scope ManagementProject Scope Management

•Project Time ManagementProject Time Management

•Project Cost ManagementProject Cost Management

•Project Quality ManagementProject Quality Management

•Project Human Resource ManagementProject Human Resource Management

•Project Communications ManagementProject Communications Management

•Project Risk ManagementProject Risk Management

•Project Procurement ManagementProject Procurement Management

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Phase 2:Phase 2: Overall Factor analysis based on identified nine (9) Overall Factor analysis based on identified nine (9) variables.variables.

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•This Phase 2 data analysis indicates that Human Resource, Time and This Phase 2 data analysis indicates that Human Resource, Time and Communication were found to be least important because their factor Communication were found to be least important because their factor loadings are 0.3 or less. loadings are 0.3 or less.

•While ‘Risk’ was found to be the most important factor with a loading of While ‘Risk’ was found to be the most important factor with a loading of 0.892. 0.892.

•Then comes Integration with factor loading 0.854. Then comes Integration with factor loading 0.854.

•Next comes Procurement with factor loading of 0.824 followed by quality Next comes Procurement with factor loading of 0.824 followed by quality with factor loading 0.757. with factor loading 0.757.

•At the end comes scope and cost with factor loadings 0.681 and 0.541 At the end comes scope and cost with factor loadings 0.681 and 0.541 respectively.respectively.

•RiskRisk

•IntegrationIntegration

•ProcurementProcurement

•QualityQuality

•ScopeScope

•CostCost

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Conclusion/FindingsConclusion/FindingsBased on the framework established earlier in this project, the Based on the framework established earlier in this project, the study was conducted on the employees of KCCEC. Their study was conducted on the employees of KCCEC. Their demographics are as follows:demographics are as follows:

•All respondents are male, with ages ranging from 30 years to more than All respondents are male, with ages ranging from 30 years to more than to 50 years and having average age of 33 years (excluding one outlier to 50 years and having average age of 33 years (excluding one outlier value of above 50). value of above 50).

•The respondents were graduates with B.E / B.Sc degree and had been The respondents were graduates with B.E / B.Sc degree and had been working in their current organization for more than 5 years. working in their current organization for more than 5 years.

•They had total working experience ranging from 9 years to 25 years with They had total working experience ranging from 9 years to 25 years with average total experience to be 14 years (excluding one outlier value of 34) average total experience to be 14 years (excluding one outlier value of 34)

•Their specific experience in project management ranged between 5 to 12 Their specific experience in project management ranged between 5 to 12 years with an average of 7 years (excluding one outlier value of 24).years with an average of 7 years (excluding one outlier value of 24).

•This indicates that the respondents have 50% of their total experience in This indicates that the respondents have 50% of their total experience in field of project management. field of project management.

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• The findings from the data analysis indicated only scope, cost The findings from the data analysis indicated only scope, cost and quality to be concurring with existing researches. and quality to be concurring with existing researches.

• Other areas like human resource, time and customer Other areas like human resource, time and customer satisfaction identified in earlier researches were not found to satisfaction identified in earlier researches were not found to be critical factors for the projects in Oil & Gas industry of be critical factors for the projects in Oil & Gas industry of Kuwait. Kuwait.

• However, the findings identified three more factors i.e. risk, However, the findings identified three more factors i.e. risk, integration and procurement as important influencers for integration and procurement as important influencers for projects in terms of success. projects in terms of success.

Accordingly, the study has concluded that risk, integration, Accordingly, the study has concluded that risk, integration, procurement, quality, scope and cost are the critical factors procurement, quality, scope and cost are the critical factors that govern the success of an EPC/PC projects in Oil & Gas that govern the success of an EPC/PC projects in Oil & Gas sector of Kuwait. sector of Kuwait.

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RecommendationsRecommendationsRisksRisks

Risks are inevitable and therefore a proper and frequent Risks are inevitable and therefore a proper and frequent assessment should be carried out throughout the life cycle of a assessment should be carried out throughout the life cycle of a project followed by updating the risk management plan to project followed by updating the risk management plan to avoid any unexpected failures of the project. avoid any unexpected failures of the project.

IntegrationIntegration• The process of integration which includes project management The process of integration which includes project management

plan is the core and most important element governing success plan is the core and most important element governing success of project. of project.

• Project management team and stakeholders should co-ordinate Project management team and stakeholders should co-ordinate to detail the project management plan in order to devise the to detail the project management plan in order to devise the strategy and detailed functioning of the process as a whole. strategy and detailed functioning of the process as a whole.

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• This plan should be prepared at the start of the project This plan should be prepared at the start of the project using the project’s elements and bearing in mind the using the project’s elements and bearing in mind the desired objectives.desired objectives.

Procurement Procurement

Procurement should be carried out as per procurement Procurement should be carried out as per procurement management plan. Since this aspect of a project has greater management plan. Since this aspect of a project has greater influence from external factors and involves vendors, a influence from external factors and involves vendors, a well defined procurement management plan is critical for well defined procurement management plan is critical for ensuring success of a project.ensuring success of a project.

QualityQuality

Quality plans are based on the project objectives and a Quality plans are based on the project objectives and a quality management plan should be developed after quality management plan should be developed after defining the scope and applicable standards.defining the scope and applicable standards.

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ScopeScope

• Scope needs to be well defined, clear and translated to the Scope needs to be well defined, clear and translated to the project team enabling them to understand their goals and project team enabling them to understand their goals and objectives. objectives.

• Therefore, the project teams should co-ordinate and Therefore, the project teams should co-ordinate and discuss the requirements of a project with stakeholders to discuss the requirements of a project with stakeholders to get in-depth understanding of the scope which can later get in-depth understanding of the scope which can later facilitate in breaking down the scope into doable activities facilitate in breaking down the scope into doable activities to achieve the project objectives.to achieve the project objectives.

Costs Costs

• Costs for each activity should be estimated in order to do a Costs for each activity should be estimated in order to do a proper budgeting that will ensure achievement of the proper budgeting that will ensure achievement of the objectives without straining any stakeholder. objectives without straining any stakeholder.

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• Project’s success is assessed by evaluating actual incurred Project’s success is assessed by evaluating actual incurred cost against the budgeted costs of a project. Any additional cost against the budgeted costs of a project. Any additional expense without any additional benefit is not the expense without any additional benefit is not the expectation or desire of stakeholders.expectation or desire of stakeholders.

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AppendicesAppendices

• SURVEY TO IDENTIFY KEY FACTORS FOR SURVEY TO IDENTIFY KEY FACTORS FOR SUCCESS OF EPC / PC PROJECTS IN OIL & GAS SUCCESS OF EPC / PC PROJECTS IN OIL & GAS INDUSTRY OF KUWAITINDUSTRY OF KUWAIT

(Questionnaire is available in Word Format)(Questionnaire is available in Word Format)

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Thank YouThank You