Governance of Complex Energy Projects (2024/2025)

Introduction

This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.

Development and realization of initiatives within the energy industry is frequently to be done through use of the project approach.

The characteristics of projects requiring high investments, as for example building a new facility or field development, within energy are:

• Complex
• Large
• Extensive use of digital tools and methodologies
• Long lead time from feasibility to operation
• International
• Multisite
• Several stakeholders such as partners, sponsors and contractors

A key element in project success is to achieve satisfactory project governance in which the role of the project owner is critical.
Governance of Complex Energy projects is linked to the selection and control of the right project ideas and performing the controlling function towards the respective projects. The project owner must evaluate the single project in a broader perspective in which the strategic project portfolio perspectives are important.

Course content

Key topics include:

• The characteristics of major capital intensive complex projects in energy sector, upstream, midstream and downstream
• The fundamentals of project governance
• The role of the project owner and steering group
• Value creation & value control during the project life cycle
• Strategic project portfolio management
  • Strategy focus
  • Selection criteria and portfolio selection
  • Portfolio risk management
  • Portfolio resource management
• Project Execution Models and efficiency improvements