Abstract
Stage Gate Project Management Process (SGPMP) is a methodology that has been widely used by many important Oil & Gas companies worldwide. SGPMP aims to improve the decision-making process in Project and Portfolio Management by helping to manage the levels of uncertainty and increase the quality of the projects.
The goal is not the elimination of uncertainties, but to make the best decision in a rational and systematic manner for managing the uncertainties and the associated risks that will always exist in any project.
This document will analyze the application of the SGPMP methodology used to manage and control two world-class gas-field development projects in Peru and Bolivia. It takes into account that the decision whether or not to continue with the project is related to factors such as cost-benefit ratio, risks, funds availability, human resources, as well as project alignment with strategic business objectives.
Implementation of this approach was a challenge, as it was one of the company's first experiences using SGPMP. This experience was a learning process to adapt project management theory into practice.
This paper will be useful for those Project Managers who are considering implementing a methodology similar to SGPMP in their Oil and Gas development projects. It provides key insights about value improvement practices and lessons learned by the authors from the early stages of the projects.
Conclusions and opinions expressed herein are those of the authors and not necessarily those of the company.
