[INFOGRAPHIC] Your Engineering & Design Concerns: 2017 Edition
In the oil and gas industry, projects have been increasing in their size, scope and cost for decades. While the price of a barrel of Brent crude was above $80 per barrel, the sector embarked on an unprecedented building spree.
However, 78 per cent of megaprojects in the oil and gas sector completed in the past decade have failed in terms of cost and schedule and two-thirds of these have also fallen short of production-attainment goals.
With the halcyon days of oil price now numbered and “efficiencies” the order of the day, the engineering and design process is being scrutinised like never before.
In conjunction with AVEVA, Oil & Gas IQ conducted a survey of engineering professionals to see what their major preoccupations were in 2017 and how their companies were adapting (or not) to a post-prosperity era of project delivery.
In this infographic you will learn:
- The top three reasons for engineering re-work
- The crucial elements missing from contemporary engineering and design tools
- The main ways in which market conditions are affecting working practices
- Whether your competitors are bracing for portfolio shrinkage or growth