Category: Project management

The Balance Sheet and the Statement of Income are essential, but they are only the starting point for successful financial management. Apply Ratio Analysis to Financial Statements to analyze the success, failure, and progress of your business. Ratio Analysis enables the business owner/manager to spot trends in a business and to compare its performance and … Continue reading Financial Ratio

Glossary Abandon To cease work on a well which is non-productive, to plug off the well with cement plugs and salvage all recoverable equipment. Also used in the context of field abandonment. Associated gas Natural gas produced with crude oil from the same reservoir. Annex B Operator’s development plan for an offshore installation. It requires … Continue reading Glossary Oil & Gas

Anda mungkin pernah mendengar tentang Capex dan Opex ketika membaca majalah bisnis dan ekonomi. Apa sebenarnya artinya? Capex dan Opex umumnya istilah yang digunakan perusahaan-perusaahan besar saat ia menyusun budgetnya di awal tahun. Perlu diingat, bahwa perusahan besar umumnya tidak mengeluarkan biaya sewaktu-waktu (arbitrarily) sepanjang tahun. Mereka punya tim yang menyusun planning untuk budget pada … Continue reading Apa itu Capital Expenditure (Capex) dan Operating Expenditure (Opex)

EPC adalah singkatan dari Engineering Procurement dan Construction. Ini adalah sebuah perusahaan rekayasa (engineering) yang bertanggung jawab terhadap desain dan pembangunan (construction) dari suatu pabrik atau plant, termasuk juga pembelian barang2 untuk keperluan pembangunannya(procurement). Jadi bisa dikatakan juga bahwa sebuah perusahaan EPC sebenarnya adalah sebuah organizer dari beberapa komponent untuk berdirinya suatu pabrik yaitu: licensor(pemilik … Continue reading EPC

The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. There is first an Initiation or Birth phase, in which the outputs and critical success factors are defined, followed by a … Continue reading Project Life Cycle

Key performance indicators should preferably meet the following essential criteria: Be direct (no complex calculations) Be objective Be adequate Be quantitative Be practical Be reliable Developing key performance indicators is best done in a kick-off meeting during the planning phase of a project. It involves the following steps: Carefully consider the results desired Avoid overly … Continue reading Developing key performance indicators in projects

The key to success of a business is dependant on good management information. Thus while monitoring profitability and cash flows, a business also need to keep its Key Performance Indicators (KPI) under a tight check. Examples of key performance indicators on a balanced scorecard Key Performance Indicators are quantifiable measurements that reflect the critical success … Continue reading Using key performance indicators (KPI) for effective project management

Project management Project Management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. A project is a finite endeavor—having specific start and completion dates—undertaken to create a unique product or service which brings about beneficial change or added value. This finite characteristic of … Continue reading Project management??? watt de heck???!!!….by eko winasis