Due to the complexity of their operations, oil and gas companies require project management software to optimize resources and track milestones for capital investments, expansion into new markets, or large exploration and production activities. Oil and gas project management software can also be used to manage the risks associated with every type of project, which can lead to cost reduction, increased productivity, and better safety for employees. Project managers and their team use this type of software to plan, implement, monitor, close, and evaluate oil and gas projects.
Oil and gas project management products can be used together with oil and gas asset management software for asset installation and maintenance projects. This type of software also integrates with oil and gas back office and accounting solutions to calculate, allocate, and manage project costs.
To qualify for inclusion in the Oil and Gas Project Management category, a product must:
- Provide customizable templates for different projects (capital investments, infrastructure, etc.)
- Allow users to collaborate internally and externally on one or more projects
- Estimate project risks and track their evolution during deployment
- Plan and optimize resources in order to increase project profitability
- Notify users and managers about incidents and recommend corrective actions
- Ensure compliance with corporate standards and processes, as well as government regulations
- Deliver report and analytics on project risks, compliance, costs, or profitability
