Compendium of Project Management

Running head: PROJECT MANAGEMENT
Project management: North Sea oil and gas drilling project
Name of the Student
Name of the University
Author’s Note

PROJECT MANAGEMENT
1
Table of Contents
1. Overview of the project...............................................................................................................2
2. Discussion and appraise of project management techniques.......................................................2
3. Challenges faced during the project............................................................................................3
4. Risk matrix...................................................................................................................................5
References........................................................................................................................................7

PROJECT MANAGEMENT
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1. Overview of the project
The paper mainly reflects on the “North Sea oil and gas drilling project” which is mainly
undertaken by BP plc which is one of the multinational oils and gas company that has its
headquarter in London, UK. As oil and gas is one of the crucial sources of energy which
generally helps in enabling people for maintaining proper standards of living. Due to a very long
history of oilfield exploration, North Sea boasts not only undertake oil and gas drilling project
but also helps in establishing tested legal framework. With the help of the project, it is found that
the country earned very much high amount of profit.
2. Discussion and appraise of project management techniques
It is found that project management techniques are helpful in managing the project quite
easily as well as effectively. The techniques that are utilized for undertaking North Sea oil and
gas drilling project by BP are mainly elaborated below:
Work breakdown structure: It is considered as one of the ways that is helpful in
organizing the entire work into smaller as well as manageable work pieces. With the help of
WBS, each of the task of the project is represented graphically that further helps in defining the
project scope into very much smaller parts such that the North Sea oil and gas drilling project
gets completed on time (Cagliano, Grimaldi and Rafele 2015). The main purpose of the WBS is
to minimize the complications of the project such that it oversees the tasks quite effectively.
Moreover, WBS tasks are very much measurable and therefore the project manager assigns
proper costs to each of the task of the project (Dohe and Pike 2018).
Gantt chart: A Gantt chart is one of the techniques that is considered to be very much
easier for successfully scheduling tasks and for tracking the project progress against the deadline