Digital Oilfields: Seven Things To Be Aware Of Before Investing In New Technology - PART 2

Tim Haïdar

2) Balancing cost vs. performance

When cutting-edge technology is released, many organisations will be blinded by the promise of an innovative new solution that will bring X and Y benefits with Z cost savings over a certain period of time.

The contest that should really be playing out in the minds of senior management is that of ‘fit for purpose’ vs. ‘state-of-the art’, and this should be repeated on a unit by unit basis.

3) Functionality

Exactly how user-friendly is the new tech that you are planning to roll out? If the new system is operationally different from the incumbent system, there may need to be a good deal of training provided for employee "re-education" in the intricacies of the new package. And where there is training there is always a time and monetary cost involved.