Project Management in the Oil and Gas Industry

1.5.6 Evaluate the Master Plan
Upon completion of all the previous steps, we evaluate the master plan of 
the project and how it will achieve agreed objectives of the project in terms 
of time and costs.
There is often a need to amend the plan, often in the field of resources, 
as they usually clear the requirement for a certain type of a large amount 
of resources in one specific application. Accordingly, it will be in the line 
of the settlement of the rescheduling of resources of some activities, which 
does not affect the master plan of the project. At the beginning, the sched-
ule must be made through discussions between the owner and the contrac-
tor. Then, the timetable will be agreed upon by all parties to achieve the 
success of each party according to its objectives.
1.5.7 Accept the Master Plan
Store the master plan securely as it will be the basic reference in the future. 
After the approval, storing it is an important step for the planner, who is to 
keep the original master plan without any change to return to it if there is 
any confusion.
Review the execution plan and the performance through this plan, as 
there usually will be changes in this plan.

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How to Manage Oil and Gas Projects 29
1.5.8 Schedule Follow Up
After all the previous steps, the execution phase will start. Then, start track-
ing the progress of work by registering the amount of work done and the 
used resources. This will apply to the activities that took place as well as the 
activities under the operation.
Follow-up schedules are adjusted periodically in order to be commen-
surate with the actual on site. We must, therefore, do the follow-up peri-
odically and as agreed upon at the beginning of the project.
1.5.9 Cost Follow Up
You should follow-up on the cost periodically during an agreed period of 
time to track the project cost and compare it to the estimated cost of the 
project that was identified through the budget and approved by the owner.
We must follow the paid cost and the cost that is due to others with the 
time of the purchase orders and contracts of employment. Any deviation 
gives a snapshot of the position to evaluate the deviations at the same time, 
and then we can expect the total cost at the end of the project.