logo

Case Study of Failure of British Petroleum

   

Added on  2020-02-24

10 Pages2989 Words725 Views
1Real World Case StudyStudent NameStudent IDInstitute Name

2IntroductionIt is very important to understand why projects fail. At the same time, it is equally significant to understand why a project is a success. This is because distinguishing between what is a failure or a success will not become possible without understanding what makes a project be considered as a success. Theoretically, any project which has achieved its targets or aims is a success and which has not is a failure. However, in reality many times it has been witnessed that projects who have failed is also a success in some specific perspective. This paper discusses what makes a project a success with a case study of project failure of British Petroleum (O'Donnellan, 2016).Background of case study The world is highly dynamic in the modern world. The fast paced transformations occurring in the external world make business enterprises compelled to adopt new strategies to combat and survive in this fast changing highly competitive scenario. This is a case study about British Petroleum organisation located in United States of America where an oil spill project has occurred in the Gulf of Mexico. For any oil enterprise in the world this was a new and highly critical concern. In this modern times this particular deep spill of oil accident was the most worse disaster which costed hugely. Some of the requirements did required some better strategic decisions by the management. At the end of this paper some strategic management recommendations will be made which will help firms like British Petroleum get better solutions from their all projects and endeavours (Sylvester, 2011).The organisation, British Petroleum was founded in the year 1909. It was actually an oil and gas company having its headquarter in London, UK. The firm was the sixth amongst the largest oil and gas companies of the world in terms of its production and in terms of their annual turnover they were the fifth largest of all. The organisation was associated in some large areas such as exploration of oil, production, oil refinement, oil distribution and also marketed hydrocarbon based products. In around 80 different countries in the world along with over 80,000 employees British Petroleum has been operating. The division of British Petroleum which operates in the USA is the largest and is popularly summoned as BP there. In the States it is counted second amongst all oil and gas producing countries in terms of production. The firm has over 22,400 different service stations in States with a sale of around

36millio barrels on an average day. The organisation is also one amongst few which has made huge investments in making innovative work processes and invention new technologies for oil exploration and find out the presence of petro chemical below the surface of the Earth (Shobdhganga, 2015).There was an explosion which occurred in year 2010 in the Deepwater Horizon well of British Petroleum situate in the Gulf of Mexico taking 11 lives of working men on board and injuring 17 others. As the technical team was making efforts drilling the well this problem occurred. The problem further accentuated when the leak made over 200 million crude oil gallons spill into the Gulf of Mexico. In the history of the world this was the most worse disaster which lasted 87 days in a row. Within 6 months’ time over 8000 animals diedStandard Criteria DiscussionThere are three different aspects on which the success of any project depends. This is known as the triple measures of project and these are cost, the time factor and the performance of theproject. Any project is considered to be a successful one if the project is fulfilled within the estimated budget, in the estimate frame of time it was targeted to be completed and if it performs the desired function for which it has been designed initially. Success of any project is multi-dimensional in nature. There are many inputs given in a project which results in different outcomes. To make all these work together an effective management plan is required. An effective managements plan works accurately as well as efficiently. It covers all the aspects of any project thus reducing the chances of high profile projects fail. Many times a project can overlook all the different dimensions of it. For avoiding such issues, a proper plan of management must be practiced and implemented (Anonymous, 2011).A standard infrastructure strategy in ensuring projects success is known as a framework hierarchical in nature. Such a hierarchical framework helps assist the effectiveness of the project management plan. This is ensuring by a project management triangle. Based on the project priorities the triangle of the project management is dependent highly. It can be stated that for any organisation associated with oil and gas the factors of cost, time and scope have

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
BP Deepwater Horizon: Lessons Learned from Control and Fast Response Approach
|6
|1561
|303

Role of BP in Deepwater Horizon Disaster
|9
|2609
|79

Case Study: The Deepwater Horizon Oil Spill
|6
|1080
|179

Project Management at Oil Spillage in British Petroleum Company
|15
|3529
|14

British Petroleum Oil Spill in 2010: Analysis, Remedial Principles and Practices
|16
|1362
|342

Contribution of British Petroleum to Deepwater Horizon Disaster
|10
|3844
|1