Revamp the Internal Control Systems of Refineries in British Petroleum

Running head: PROJECT MANAGEMENT
Project management
Name of the student
Name of the university
Author note

1PROJECT MANAGEMENT
Table of Contents
Section 1.....................................................................................................................................3
Background of the company, key markets and activities.......................................................3
Rationale and Project purpose................................................................................................3
Smart objectives.....................................................................................................................3
Project deliverables................................................................................................................4
Project Milestones..................................................................................................................4
Budget estimate and project timeline.....................................................................................5
Geographical scope................................................................................................................7
Project assumptions and constraints.......................................................................................7
Section 2.....................................................................................................................................9
WBS.......................................................................................................................................9
Project scope baseline and Schedule....................................................................................10
Section 3...................................................................................................................................13
Project risk and risk register.................................................................................................13
Qualitative risk assessment..................................................................................................16
Risk management Strategy...................................................................................................19
Section 4...................................................................................................................................19
Project costing and Budget...................................................................................................19
Cost benefit analysis............................................................................................................21
Section 5...................................................................................................................................23
KPI.......................................................................................................................................23

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Section 6...................................................................................................................................23
Conclusion and recommendations.......................................................................................23
References and Bibliography...................................................................................................24

3PROJECT MANAGEMENT
Topic: Revamp the internal control systems of refineries in British Petroleum
Section 1
Background of the company, key markets and activities
BP Inc. is one of the multinational companies in the field of oil and natural in United
Kingdom. The company has its headquarters in London and one of the super majors
companies in the field of oil and natural gas companies. It is sixth among all the large energy
companies in terms of capitalization in the market. Moreover, the company is the 12th largest
company in terms of the revenue generation in the market (BP global 2018). The company
operates at all areas of the industry so it can be considered as vertically integrated and
operates in more than 70 countries all over the world. The company operates in marketing,
exploration, and refining, production, distribution, petrochemicals, trading and power
generation. The company has more than 18000 service stations all over the world and has
considerable amount of holdings in countries like United States and India.
Rationale and Project purpose
The purpose of the project is revamping the internal control system of refineries in
British Petroleum. This project aims to improve the production efficiency of the refinery so
that adverse situations can been handled and there is significant increase in the consistency of
the production of oil and other byproducts. The project will examine the existing control
system and revamp it to develop an innovative system that has higher efficiency and better
control aspects for extreme situations. This project is expected to increase the revenue
generation of the company by at least 2% in the upcoming 2 years.
Smart objectives
The objective of the project are as follows:
 Revamping the control system of the refineries

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 To increase the efficiency of the existing control system
 To increase the production output in the refineries
Project deliverables
The deliverables in the projects describes the different activities that needs to be
performed in order to complete each phase of the project (Kerzner and Kerzner 2017).
Deliverables consists of all the tasks that are both tangible and intangible functions
responsible for the success of the project. In this current project, the different phases of the
project has been described.
Outline
Number Task Name Duration Start Finish
0 Revamp of internal control
systems in refineries 116 days Thu 20-12-18 Thu 30-05-19
1 Project initiation 9 days Thu 20-12-18 Tue 01-01-19
3 Project planning 33 days Wed 02-01-19 Fri 15-02-19
5 Project execution 51 days Mon 18-02-19 Mon 29-04-19
7 Project monitor and closure 23 days Tue 30-04-19 Thu 30-05-19
Project Milestones
Project milestone consists of all the tasks with duration zero and determines the clear
sequence of events in the project (Harrison and Lock 2017). The project milestone defines
completion of any important phase in the project. In this current study, the project milestone
consists of the expected timeline when each of the phases needs to be completed.
Outline
Number Task Name Duration Start Finish
0 Revamp of internal control
systems in refineries 116 days Thu 20-12-18 Thu 30-05-19
2 Milestone 1: project initiation
completed 0 days Tue 01-01-19 Tue 01-01-19
4 Milestone 2: Project planning
completed 0 days Fri 15-02-19 Fri 15-02-19
6 Milestone 3: Project executed 0 days Mon 29-04-19 Mon 29-04-19
8 Milestone 4: Project completed 0 days Thu 30-05-19 Thu 30-05-19

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Budget estimate and project timeline
Name Actual
Cost
Remaining
Cost
Baseline
Cost
Cost Cost
Variance
Project initiation $0.00 $6,200.00 $0.00 $6,200.00 $6,200.00
Milestone 1:
project initiation
completed
$0.00 $0.00 $0.00 $0.00 $0.00
Project planning $0.00 $22,640.00 $0.00 $22,640.00 $22,640.00
Milestone 2:
Project planning
completed
$0.00 $0.00 $0.00 $0.00 $0.00
Project execution $0.00 $58,080.00 $0.00 $58,080.00 $58,080.00
Milestone 3:
Project executed
$0.00 $0.00 $0.00 $0.00 $0.00
Project monitor
and closure
$0.00 $28,560.00 $0.00 $28,560.00 $28,560.00
Milestone 4:
Project
completed
$0.00 $0.00 $0.00 $0.00 $0.00