Critical success factors for projects in the petroleum industry

Abstract

The paper identifies the critical success factors for petroleum projects. Factors have been obtained from existing literature and tested in the petroleum industry. The paper identifies 58 success factors that have been categorised into 11 groups. These factors were tested and grouped based on their individual relative importance index. The paper highlights the importance of project risk management and requirements management in achieving project success in the petroleum industry. The study also highlights the importance of the soft aspects of risk management in achieving successful implementation of project risk management and scope management in requirements management implementation.