Project portfolio prioritization strategy to extend the service life of offshore platforms – a Prométhée V approach

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Published: Oct 1, 2019
DOI: https://doi.org/10.14807/ijmp.v10i5.849
Keywords:
Portfolio Prioritization Strategies Offshore Platforms PROMÉTHÉE V Oil & Gas MCDA

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Rodrigo Toneto de Melo
Ibmec Business School
Luiz Flavio Autran Monteiro Gomes
Ibmec Business School
Fernando Filardi
Ibmec Business School

Abstract

This study puts forward the implementation of Multi-Criteria Decision Aid, through the PROMÉTHÉE V method, to support a decision on prioritizing a modification project portfolio on offshore oil and gas platforms. The chosen method supports, in a structured manner, the prioritization of a project portfolio which is necessary to leverage the oil production in offshore facilities, especially when they have already surpassed the plateau phase and presents production decline. Although the most relevant issues for investors are related to return on investments and the risks involved, the study suggests that other criteria are considered in specific settings. The research used data from 12 main projects of an oil and gas company and the criteria evaluations were made based on documents retrieved from the organization's database. This implementation represents a very important improvement for a well-known problem, in which the result is found based on criteria and their respective weights selected through a consensus. The results reinforce that any organization, with a constraint similar to the one presented in this study, may obtain relevant gains with the use of methods that clearly reflect the decision process and its criteria, assisting the decision maker's job significantly.

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Vol. 10 No. 5 (2019): Independent Journal of Management & Production
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Articles

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Author Biographies

Rodrigo Toneto de Melo, Ibmec Business School

Project Leader Professional at Equinor, Rio de Janeiro, Brazil

Luiz Flavio Autran Monteiro Gomes, Ibmec Business School

Full Professor (since 2000) of Business Administration in the Ibmec School of Business and Economics, Rio de Janeiro, Brazil.

Fernando Filardi, Ibmec Business School

Full Professor of Business Administration in the IBMEC School of Business and Economics, and the Federal University of the State of Rio de Janeiro (UNIRIO), Rio de Janeiro, Brazil.
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