Oil and Gas Project Management Statistics 2024 – Everything You Need to Know

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Are you looking to add Oil and Gas Project Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Oil and Gas Project Management statistics of 2024.

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Best Oil and Gas Project Management Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 300 Oil and Gas Project Management Statistics on this page 🙂

Oil and Gas Project Management Benefits Statistics

  • However, 133% of non software projects fail to meet their stated benefits, compared to just 17% for software projects. [0]
  • 61% meet scope 60% meet quality standards 51% meet expected benefits. [1]
  • [5] How Project Success is Measured 20% — Satisfied stakeholders 19% — Delivered on time 18% — Delivered within budget 17% — Achieves target benefits 15% — Produces high quality deliverables 9% — Achieves acceptable ROI. [1]
  • benefits14% say ROI[6] Top 5 PPM Functions. [1]

Oil and Gas Project Management Software Statistics

  • As per Wellingtone’s survey, only 22% of organizations use a PM software. [0]
  • As a result, 50% of respondents said that they spend one or more days to manually collate project reports highlighting the immense productivity gains on offer by using project management software. [0]
  • 77% of high performing projects use project management software. [0]
  • Despite its impact, adoption rates for PM software remains low . [0]
  • 66% of project managers say that they would use PM software more extensively if they had adequate support from their organization. [0]
  • A majority 54% use on premise PM software, though this is quickly changing. [0]
  • The same study also found that 44% of project managers use no software, even though using any popular commercially available PM software has been known to improve performance and project satisfaction. [0]
  • 66% of respondents in Capterra’s survey also said that they used project management software to communicate with clients. [0]
  • While software projects have an average cost overrun of 66%, the same figure for non software projects is 43%. [0]
  • However, 133% of non software projects fail to meet their stated benefits, compared to just 17% for software projects. [0]
  • Overall, 76% of users say they are either “very satisfied” or “satisfied” with their decision to use project management software. [0]
  • 79% use PM software tool training, 76% offer training on PM basics, 67% offer advanced PM skills development, and 61% offer leadership training. [0]
  • [14] 77% of companies use project management software, and 87% of high performing companies use project management software. [1]
  • 66% said they choose a project management software based on level of support available. [1]
  • % use project management software45% use help desk tickets, work orders, or atask tracking system36%. [1]
  • The most important factor in choosing which software to purchase was functionality (40%), followed by ease of use (24%). [1]
  • [17] Business aspects significantly improved by PM softwareTeam communication –52%Quality of final product –44%Number of projects completed on budget –44%Number of projects completed on time –. [1]
  • 66% of organizations use PM software to communicate with clients. [1]
  • [17] 76% of respondents said they are either “very satisfied” or “satisfied” with their PM software. [1]
  • The top five causes of project failure are Change in the organization’s priorities (39%). [0]
  • For such large IT projects, functionality issues and schedule overruns are the top two causes of failure (at 22% and 28% respectively). [0]

Oil and Gas Project Management Adoption Statistics

  • Despite its impact, adoption rates for PM software remains low . [0]

Oil and Gas Project Management Latest Statistics

  • rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationHigh school diploma or equivalentWork experience in a related occupation5 years or moreTypical onthe. [2]
  • rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthejob trainingModerateterm onthe. [2]
  • Number of new jobs99,200Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs4,300Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs1,400Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs4,400Growth rate3 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs600Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs1,200Growth rate3 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs3,400Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs5,800Growth rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs4,800Growth rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs1,300Growth rate2 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationDoctoral or professional degreeWork experience in a related occupation. [2]
  • Number of new jobs1,100Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs67,800Growth rate13 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs60,200Growth rate16 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs100Growth rate1 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs10,500Growth rate6 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • rate8 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,700Growth rate9 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs0Growth rate0 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs11,400Growth rate34 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs2,600Growth rate5 percent Click here for additional projections detail Education and trainingTypical entrylevel educationMaster’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs2,000Growth rate7 percent Click here for additional projections detail Education and trainingTypical entrylevel educationAssociate’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs900Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs5,700Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs10,600Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,800Growth rate35 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs15,800Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs77,800Growth rate19 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs50,400Growth rate62 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs2,400Growth rate44 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs3,200Growth rate26 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,400Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs7,400Growth rate20 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs12,800Growth rate29 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs13,400Growth rate12 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs19,900Growth rate25 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs2,900Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs13,600Growth rate23 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,200Growth rate25 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs11,700Growth rate8 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs8,300Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,300Growth rate9 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs35,600Growth rate22 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs16,300Growth rate36 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs3,400Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs400Growth rate5 percent Click here for additional projections detail Education and trainingTypical entrylevel educationBachelor’s degreeWork experience in a related occupationNoneTypical onthe. [2]
  • Number of new jobs4,600Growth rate9 percent. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs9,300Growth rate6 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs800Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,700Growth rate30 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs4,000Growth rate26 percent Click here for additional projections detail Education and training. [2]
  • Number of new jobs100Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,200Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs1,100Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs12,100Growth rate16 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,900Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,100Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs100Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs300Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs700Growth rate25 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs500Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate18 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate4 percent Click here for additional projections detail Education and trainingTypical entrylevel educationHigh school diploma or equivalentWork experience in a related occupationLess than 5 yearsTypical onthe. [2]
  • Number of new jobs5,000Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs500Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs100Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs4,800Growth rate17 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs15,900Growth rate10 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs7,300Growth rate17 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate14 percent Click here for additional projections detail Education and trainingTypical entry. [2]
  • Number of new jobs1,200Growth rate14 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,100Growth rate22 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,400Growth rate11 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,900Growth rate15 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs3,000Growth rate12 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs700Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs500Growth rate10 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,100Growth rate6 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs300Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs500Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs4,900Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs2,500Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs4,600Growth rate4 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs1,900Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs900Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs800Growth rate9 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs200Growth rate2 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs7,400Growth rate7 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs200Growth rate1 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs10,800Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • rate8 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs0Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs100Growth rate3 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs17,500Growth rate14 percent . [2]
  • Number of new jobs1,300Growth rate5 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • Number of new jobs4,500Growth rate14 percent Click here for additional projections detail Education and trainingTypical entry level educationHigh school diploma or equivalentWork experience in a related occupation. [2]
  • According to a 2017 McKinsey Global Institute report , the increase in productivity in the O&G construction sector lags behind that of sectors like manufacturing and retail. [3]
  • If O&G companies can adapt these practices to meet the needs of their unique environment, considerable improvement is possible by our estimate, reducing development time alone has the potential to deliver 15 to 30 percent in cost savings. [3]
  • Hess, for example, used PPM to eliminate performance variability and so was able to reduce its US onshore drilling and construction costs by 58 percent between 2011 and 2016. [3]
  • Used in combination, 5 D BIM and digital twins will likely soon become the new norm for designing and monitoring civil construction projects. [3]
  • So far, investment by oil and gas companies outside their core business areas has been less than 1% of total capital expenditure. [4]
  • As things stand, leading individual companies spend around 5% on average on projects outside core oil and gas supply, with the largest outlays in solar PV and wind. [4]
  • As of today, 15% of global energy related GHG emissions come from the process of getting oil and gas out of the ground and to consumers. [4]
  • Within ten years, these low carbon fuels would need to account for around 15% of overall investment in fuel supply. [4]
  • Production from existing fields declines at a rate of roughly 8% per year in the absence of any investment, larger than any plausible fall in global demand. [4]
  • Only 58% of organizations fully understand the value of project management. [0]
  • 93% of organizations report using standardized project management practices. [0]
  • 68% more than 2/3rd of organizations in ‘s annual survey said that they used outsourced or contract project managers in 2018. [0]
  • Only 23% of organizations use standardized project management practices across the entire organization. [0]
  • 33% use standardized practices, but not across all departments. [0]
  • While a small portion 7% of organizations don’t use any standard practices at all. [0]
  • Coincidentally, 55% of organizations don’t have access to real. [0]
  • Between 2017 and 2018, the percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. [0]
  • 56% of organizations have used only one project management system. [0]
  • Only 41% of organizations with an enterprise wide project management office report that it is highly aligned to the organization’s strategy. [0]
  • 80% of highperformance organizations Champions have a PMO. [0]
  • 72% say that there is a strong alignment of the EPMO to their organizational strategy. [0]
  • 95% of large firms reported having dedicated PMOs, either in specific departments or across the entire organization. [0]
  • In contrast, only 75% of small firms had dedicated PMOs. [0]
  • In 2016, PMOs delivered a 33% improvement in projects delivered under budget, 27% improvement in customer satisfaction, 25% increase in productivity, and 25% reduction in failed projects. [0]
  • In 2016, the average PMO accounted for nearly 5% of the project budget and had a staff size of 9. [0]
  • 49% of project managers report to the PMO (up from 42% in 2012). [0]
  • Incidentally, highperformance organizations had far higher percentage of project managers reporting to the PMO than lowperforming organizations 68% vs 53%. [0]
  • 50% of respondents in a survey said that their biggest challenge is that PMO processes are seen as overhead. [0]
  • 42% said that their organizations are resistant to change and adopting new PM methodologies. [0]
  • 41% said that their biggest challenge is demonstrating the added value of the PMO. [0]
  • Risk management practices are widely used across most organizations 27% say they ‘always’ use them, while 35% use the ‘sometimes’. [0]
  • Only 3% of surveyed organizations say they ‘never’ use risk management practices. [0]
  • Among senior leaders, 87% say that they “fully” understand the importance of PM practices. [0]
  • Only 32% of organizations say that they’re satisfied with their current PM maturity level. [0]
  • 67% would rank their department’s PM maturity level at 3 or more. [0]
  • However, only 47% would rank their organization wide PM maturity at level 3 or higher. [0]
  • In PMI’s 2017 survey, 62% of successfully completed projects had sponsors who were actively supportive. [0]
  • 78% of respondents in a Geneca survey also said that they’d like business stakeholders to be more responsive and engaged in the project. [0]
  • Another study found that 33% of projects fail because of a lack of involvement from senior management. [0]
  • A whopping 97% of organizations believe that project management is critical to business performance and organizational success, according to a PwC study. [0]
  • Businesses say that the biggest impact of project management was on team communication (52%). [0]
  • 44% also said that it improved the quality of the final product, while 38% said that it improved customer satisfaction. [0]
  • Only 42% of respondents in Wellingtone’s survey that this role is occupied by a professional Project Manager in their organization. [0]
  • In 2018, nearly 70% of projects met their original goals or business intent, while nearly 60% were completed within the original budget. [0]
  • Both these figures are up from 62% and 50% respectively in 2016. [0]
  • Compared to 2017, 71% of organizations reported a lack of funding as their top project management challenge, while 49% more organizations reported an inconsistency in approach. [0]
  • A survey published in HBR found that the average IT project overran its budget by 27%. [0]
  • Moreover, at least one in six IT projects turns into a “black swan” with a cost overrun of 200% and a schedule overrun of 70%. [0]
  • An IT project with a budget over $1M is 50% more likely to fail than one with a budget below $350,000. [0]
  • A PwC study of over 10,640 projects found that a tiny, tiny portion of companies 2.5% completed 100% of their projects successfully. [0]
  • According to CIO, organizations that use proven PM practices waste 28x less money than their more haphazard counterparts. [0]
  • 80% of respondents in a Geneca survey said that they spend half their time on rework. [0]
  • Only 55% of people involved in projects team leaders and project managers feel that the project’s business objectives are clear to them. [0]
  • More than 80% also feel that the requirements process doesn’t articulate the needs of the business. [0]
  • And when the project is wrapped up, only 23% of respondents say that project managers and stakeholders are in agreement when a project is done. [0]
  • To give you an idea of the abysmal success rate of most projects, only 40% of projects at IBM meet the company’s three key goals schedule, budget, and quality. [0]
  • 17% of IT projects can go so bad that they can threaten the very existence of the company. [0]
  • The biggest reason for any dissatisfaction remains price (56%), followed by a lack of features (33%). [0]
  • 64% and 67% of projects with high maturity of PM processes are delivered on time and within budget, respectively. [0]
  • The equivalent figures for low maturity organizations are just 36% and 43%. [0]
  • 83% of high performance organizations make an ongoing investment in project manager training. [0]
  • 77% of such organizations have formal processes to develop PM competency. [0]
  • In contrast, only 34% of underperformers offer similar training. [0]
  • 51% of respondents in PMI’s 2018 survey said that soft skills are more important today, while only 19% said that this skill requirement is unchanged. [0]
  • 81% of these organizations prioritize the development of technical skills (vs 13% of underperformers). [0]
  • Despite low maturity levels, only 48% organizations have invested in accredited project management training. [0]
  • 15% use non accredited training or courses, while more than 25% don’t invest in any training at all. [0]
  • 60% of PMOs now have a formal project management training program, up from 11% in 2014. [0]
  • Incidentally, high performing organizations are far more likely to have a training program than low performers (85% vs 38%). [0]
  • Most PMOs (79%). [0]
  • However, a significant and growing number (51%). [0]
  • Through 2027, the project managementoriented labor force in seven project oriented sectors is expected to grow by 33 percent, or nearly 22 million new jobs. [5]
  • China and India will represent more than 75 percent of the total project management. [5]
  • An example might be the results of a lawsuit 20% chance of positive verdict, 30% change of negative verdict, 40% chance of settlement, and 10% chance of mistrial. [6]
  • Industries with the highest levels of expected project management job growth include1 Healthcare (expected 17% growth in project management jobs through 2027). [7]
  • 80% of “high performing” projects are led by a certified project manager. [1]
  • [8] 89% of high performing organizations value project management, 81% actively engage sponsors, 57% align projects with business strategy. [1]
  • [6] 46% of organizations admit to not fully understanding the value of project management, even though that understanding boosts the success rate of strategic initiatives by 16%. [1]
  • [12] 59% say either most departments or their entire organization uses standard project management practices. [1]
  • [6] Organizations that use a methodology 38% meet budget. [1]
  • 26% do not use a standard methodology. [1]
  • 8% use a combination of methods 4% use an in house method to manage projects 3% use PRINCE2. [1]
  • [4] Having a knowledge transfer process in place boosts the chance of project success by over 20%. [1]
  • [6] More than 90% of organizations perform some type of project postmortem or closeout retrospective. [1]
  • [9] 64% of organizations say they frequently conduct risk management. [1]
  • [6] 30% of project managers break up large projects into smaller segments, with deliverables and evaluations at the end of each segment. [1]
  • 48% say the team’s technical skills 41% say executive support 26% say effective team communication. [1]
  • 19% say Agile techniques 17% say the leadership of certified Project Managers 12% say effective soft skills among staff. [1]
  • [5] 38% of organizations report using agile frequently. [1]
  • [6] 75% of highly agile organizations met their goals/business intent, 65% finished on time, and 67% finished within budget. [1]
  • Compared to organizations with low agility, where only 56% met their business goals, 40% finished on time, and 45% finished within budget. [1]
  • [12] Agile organizations grow revenue 37% faster and generate 30% higher profits than non. [1]
  • According to respondents, five days per year of projectfocused training reduced the amount of time it took to advance from an entry level project manager to a senior project manager by 12.6 months. [1]
  • In the U.S, Project Management Professional ® certified project managers make an average of 16% more than their non credentialed peers in 2011. [1]
  • [6] 61% of project management practitioners say their organization currently offers ongoing project management training for staff. [1]
  • [6] PM Certification by Department37% say their entire IT department is. [1]
  • Classroom setting –28%Online selfpaced course –24%Online situational sessions –18%Paperbased self studies –16%All of the above –13%Other. [1]
  • –1%[4] Number of PMI Certified Project Managers. [1]
  • [10] Popular Tools for Managing IT Projects70% use status reports68% use the project plan documentation63% use spreadsheets53. [1]
  • level31% use communication templates25% use quality assessments21% use realtime status dashboards20% use a homegrown/in house solution18% use word processing documents10% useearned value management. [1]
  • [11] An expected 12% growth in demand for project management professionals will result in almost 6.2 million jobs by 2020. [1]
  • [11] The healthcare industry is projected to increase project management roles by 30% — a higher growth rate than any current project intensive industry. [1]
  • [11] Estimated ProjectOriented Job Openings 2010. [1]
  • [11] 83% of project organizations reported that they were understaffed at some level. [1]
  • 44% of the reported shortages were for senior. [1]
  • 89.4% report that it is either very difficult or somewhat difficult to find senior. [1]
  • [7] The average large IT project runs 45% over budget, 7% over time, and delivers 56% less value than expected. [1]
  • [6] One in six IT projects has an average cost overrun of 200% and a schedule overrun of 70%. [1]
  • [1] Nearly 45% admit they’re unclear on the business objectives of their IT projects. [1]
  • [3] Only 34% of respondents say IT projects almost always deliver value to the business. [1]
  • 21% say they sometimes deliver value, and 41% say results are mixed. [1]
  • [5] 78% said their project requirements are usually or always out of sync with the business. [1]
  • [3] 75% of IT project leaders believe their projects are “doomed from the start.”. [1]
  • [3] 17% of large IT projects go so badly they threaten the existence of the company.[2]. [1]
  • Only 47% say their teams achieve 70 89% of their goals. [1]
  • Nearly 20% say they only achieve 50 69% of their goals. [1]
  • [3] 80% of teams say they spend at least half their time reworking completed tasks. [1]
  • [3] Barriers to Success38% cite confusion around team roles and responsibilities.31% point to being unclear or disagreeing on what constitutes project success.77%. [1]
  • Portfolio Project Management 53% of respondents say they have a project portfolio management process in place. [1]
  • The number of firms with a PPM process in place grew from 64% in 2003 to 71% in 2013. [1]
  • 26% of firms say they get a 25% or greater ROI from implementing PPM processes. [1]
  • How Companies Prioritize Projects18% say strategic alignment14% say expected. [1]
  • Portfolio tracking & performance monitoring – 75%Portfolio oversight –68%Portfolio planning,resource allocation, and schedule –. [1]
  • 66%Portfolio analysis, project selection, & prioritization –65%PPM process implementation & management –61%[13]. [1]
  • Top 5 PPM PrioritiesImproveresource planning & forecasting – 65%Implement. [1]
  • /enhance reporting, analytics, & dashboard tools –62%Implement/enhance PPM processes –53%Implementdemand management/capacity planning processes – 42%Implement/enhance performance measurement process –. [1]
  • [4] 55% of organizations surveyed review project portfolios monthly, 23% review them quarterly. [1]
  • [13] PMO Popularity by Company Size61% of small organizations (88% of midsize companies ($100M $1B). [1]
  • Number of companies with a PMO has grown from 47% to 80% from 2000. [1]
  • 30% of companies currently without a PMO plan to start one in the coming year. [1]
  • [16] Benefits of High Performing PMOs [16] 49% of PMOs provide project management training. [1]
  • IT managers or business execs – Non management IT staff – Project managers within IT department – Project managers outside IT department – Outsourced project managers – [13] Only 64% of projects meet their goals. [1]
  • [6] 70% of companies report having at least one failed project in the last year. [1]
  • [12] High performing organizations successfully complete 89% of projects, while low performers only complete 36% successfully. [1]
  • [15] 60% of companies don’t measure ROI on projects. [1]
  • [15] Average Project Success Rates [9] Average % of features delivered – 69%Average cost overrun – Average time overrun – [9] Small Projects VS. [1]
  • Small Projects 76% are successful. [1]
  • Large Projects 10% are successful 52% are challenged. [1]
  • [9] Large projects are twice as likely to be late, over budget, and missing critical features than small projects. [1]
  • A large project is more than 10 times more likely to fail outright, meaning it will be cancelled or will not be used because it outlived its usefulness prior to implementation. [1]
  • [12] 68% of projects don’t have an effective project sponsor to provide clear direction or help address problems. [1]
  • 64% successfully met original goals/business objectives 62% were supported by active project sponsors 55% finished within budget. [1]
  • Only 56% of strategic initiatives meet their original goals and business intent. [1]
  • [12] 44% of strategic initiatives were reported as unsuccessful. [1]
  • Over 25% of companies don’t conduct a strategic review to identify how a proposed project will benefit the business. [1]
  • [15] 60% of companies don’t consistently align projects with business strategy. [1]
  • According to the 5th annual Global Energy Talent Index report, 78% percent of oil and gas employees feel less secure in their jobs than they did a year ago. [8]
  • Hiring managers share this anxiety, with 77% worrying that their employees’ jobs are less secure than they were a year ago. [8]
  • Last year, 43% of professionals reported that their salary had remained static, and 24% said theirs has decreased by more than 5%. [8]
  • This is backed up by GETI survey responses from hiring managers 34% of whom said that salaries had remained the same as the previous year 22% agreeing that salaries decreased by over 5%. [8]
  • Despite some salary decreases last year, both employees and hiring managers are confident that salaries won’t decrease further in 2021 32% of professionals and 30% of hiring managers expect pay to remain the same. [8]
  • Many workers are confident of a rebound and recovery 31% of professionals expect a pay rise of more than 5%. [8]
  • 29% of hiring managers also believe pay rises are on the way. [8]
  • Though the number of oil and gas professionals unwilling to move for work is low (11%). [8]
  • 10% said that the opportunity to move simply doesn’t exist, which is an unusual notion for the sector. [8]
  • Only 4% of GETI survey respondents said that their company offers help with relocation, so it could be that fewer are willing to pay the costs associated with relocating. [8]
  • That said, more than half (52%). [8]
  • With 42% of professionals citing career progression opportunities as the main reason for relocating to work, oil and gas firms must make sure that there are plenty of chances for progression available for their workers. [8]
  • The 2021 GETI report reveals that 77% of oil and gas employees would consider changing their employment status within the next three years 50% move to a permanent staff position. [8]
  • 44% would move to a contractor role and 6% who would consider retirement in the near future. [8]
  • However, of the 79% of employees who would move to a different sector within the next three years, only 11% cited job stability as the reason. [8]
  • The biggest factor influencing this decision was opportunities for career progression (35%). [8]
  • Workers in the oil and gas industry already feel as though the events of 2020 have resulted in a ‘new normal’ for the sector, with 86% believing that this is the case or will be in the near future. [8]
  • Just 14% said they expect things to go back to the way they were before the pandemic. [8]
  • What is encouraging to see is that the majority (56%). [8]
  • What’s more, workers are still optimistic about the sector, with 64% of survey respondents expecting growth over the next three years. [8]
  • 34% are quite worried about this and 25% are very worried, compared to 22% who are unsure, 12% who are not worried at all and 6% who are not very worried. [8]
  • However, according to the Deloitte 2021 Oil and Gas Industry Outlook , the pandemic and the oil downturn have accelerated long term trends like digital transformation and energy transition, rather than pausing them. [8]

I know you want to use Oil and Gas Project Management Software, thus we made this list of best Oil and Gas Project Management Software. We also wrote about how to learn Oil and Gas Project Management Software and how to install Oil and Gas Project Management Software. Recently we wrote how to uninstall Oil and Gas Project Management Software for newbie users. Don’t forgot to check latest Oil and Gas Project Management statistics of 2024.

Reference

  1. workamajig – https://www.workamajig.com/blog/project-management-statistics.
  2. wrike – https://www.wrike.com/blog/complete-collection-project-management-statistics-2015/.
  3. bls – https://www.bls.gov/ooh/about/data-for-occupations-not-covered-in-detail.htm.
  4. mckinsey – https://www.mckinsey.com/industries/oil-and-gas/our-insights/how-the-oil-and-gas-industry-can-improve-capital-project-performance.
  5. iea – https://www.iea.org/reports/the-oil-and-gas-industry-in-energy-transitions.
  6. pmi – https://www.pmi.org/learning/careers/job-growth.
  7. palisade – https://www.palisade.com/risk/monte_carlo_simulation.asp.
  8. aiuniv – https://www.aiuniv.edu/degrees/business/articles/project-manager-job-outlook.
  9. airswift – https://www.airswift.com/blog/oil-and-gas-industry-employment-statistics.

How Useful is Oil and Gas Project Management

One of the key benefits of effective project management in the oil and gas industry is the ability to coordinate various stakeholders and resources to ensure that projects are completed on time and within budget. Oil and gas projects are often large-scale and involve a diverse range of teams, suppliers, and contractors. Project managers must be skilled at managing these relationships and ensuring that everyone is working towards a common goal.

Moreover, project management in the oil and gas industry helps to mitigate risks and ensure compliance with regulatory requirements. Oil and gas projects are inherently risky, with potential hazards ranging from environmental concerns to geopolitical issues. Project managers must be adept at identifying and assessing these risks and developing strategies to address them effectively.

In addition, project management in the oil and gas industry plays a crucial role in driving innovation and technological advancements. As the global demand for energy continues to grow, the industry is constantly evolving to meet these needs. Project managers are responsible for identifying opportunities to improve processes, adopt new technologies, and drive efficiencies in order to stay competitive in the market.

Furthermore, effective project management in the oil and gas industry can help to enhance sustainability and environmental stewardship. With growing concerns about climate change and environmental impact, companies in the oil and gas sector are under increasing pressure to operate in a more environmentally responsible manner. Project managers can play a key role in implementing sustainable practices and ensuring that projects are carried out in an environmentally friendly way.

Overall, oil and gas project management is an essential component of the energy industry, ensuring that projects are completed efficiently, safely, and in compliance with regulations. By coordinating stakeholders, mitigating risks, fostering innovation, and promoting sustainability, project managers play a critical role in driving the success of oil and gas projects.

In conclusion, effective project management in the oil and gas industry is essential for ensuring the success and sustainability of projects in this sector. By overseeing the coordination of stakeholders, managing risks, driving innovation, and promoting sustainability, project managers play a vital role in navigating the complexities of the energy industry.

In Conclusion

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