An empirical study on management Of project complexity risk and interfaces with special emphasis To petroleum refinery industries

Abstract

In India, Oil and gas sector, particularly petroleum refining industries play a major role in the newlineeconomic growth of the country, which is closely related to energy demand. The energy demand is newlineanticipated to grow faster, than all major economies of the world, thus making petroleum refining newlineindustries quite conducive for investment in new projects to cater to the ever-growing energy newlinedemand. Mega projects have become the new norm in petroleum refining industry attracting both newlinedomestic and foreign investments. In the era of mega projects, petroleum refinery industry projects newlinewith high complexities, combined with high risk and abundant interfaces, will be a huge challenge newlinefor the organization executing the project. To effectively deliver projects within schedule and newlinebudget, will be a major challenge to the executing organisations. When capital markets are newlineanticipating strong returns and predictability, performance volatility is a major challenge, especially newlinein petroleum refining industries mega projects. newlineIn today s dynamic project environment, practitioners executing the petroleum refinery projects newlineneed more integrated approaches, new methods, frameworks and models for managing the current newlineand future projects in order to accomplish the project objectives successfully without time and cost newlineoverrun. Considering petroleum refinery projects, not much study has been carried out to understand newlinethe project complexity, risk and interfaces, their management and their impact on project newlineperformance. Further, there is limited evidence in the literature about the management of project newlinecomplexity, risks and interfaces in petroleum refinery projects from the practitioners perspective. In newlineaddition to that, there is a lack of practically significant framework for the assessment of project newlinecomplexity, risks and Interfaces and their management to improve project performance.