L O A D I N G

The digital era project leaders

Following the striking fall in oil prices, from a peak of $115 per barrel in June 2014 to less than $35 at the end of February 2016, the oil and gas industry is facing intense pressure to cut spending and to improve operational efficiencies. Containing costs by reducing headcount or by postponing projects has proved to be inefficient in the long run.
Achieving the aspired improvements requires, therefore, a renewed perspective on fields development and operations. Several studies confirmed that increased levels of digital maturity allow to unlock additional profits from existing capacity and to improve multiple performance indicators, such as productivity, time to market and cost-efficiency.
To capture these benefits, oil executives should, define effective digital transformation strategies, invest in digitizing and champion the digital transformation projects. The aspired digital transformation requires a new set of skills and enablers. Oil and gas executives should assign more people to digital roles and embed agility into their practices.
Oil and gas companies were among the early adopters of the first digital era technologies. However, they are considered as laggards when it comes to embracing change and adopting the new digital era technologies such as blockchain, data analytics, and Internet of Things. The pace at which digitization is taking place in the Oil and Gas industry is very slow compared to Financial services & insurance, Automotive, Computers & electronics, etc.
A few years ago, project managers were only required to master emails, Microsoft office tools and searching the web. The new era project managers shall have the capabilities to adapt, manage and integrate technology based on the needs of the project stakeholders. The project leaders must not only strengthen their technical and leadership skills but also their digital acumen. They are also required to spread digital fluency across their teams and organizations.
In this paper, we elucidate our approach to achieve a sustainable digital transformation following a five (5) steps process.

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