Improving productivity in oil and gas
Productivity is a key issue in the resources sector. The question is, why do some organisations deliver better productivity gains than others and what can we learn from them?
Research by Associate Professor John Steen of UQ Business School in conjunction with Ernst & Young found that innovation, competitive capabilities and collaboration are the three key drivers for improved productivity.
At a deeper level, it showed that an organisation’s mindset and flexibility are fundamental as these are reflected in the organisation’s operational structure, the way contracts are structured, risk sharing, and other such factors.
The study has particular implications for $1bn plus projects. It shows that if firms involved in megaprojects can improve their flexibility, problem-solving, risk management and learn from experience, they can expect real improvements in productivity.
Are you an organisation in need to solve a business issue? Contact John Steen to know more about his work and benefit from his expertise.