Showing posts with label McKinsey. Show all posts
Showing posts with label McKinsey. Show all posts

Tuesday, June 30, 2015

You Thought I Was Bad

I frequently make the claim that our value proposition. Which is based on a comparison of our business model vs. the status quo bureaucracy. Provides the oil and gas industry with an additional $25.7 to $45.7 trillion in incremental value over the next 25 years. Some people may find this to be too much of a difference to be valid. I say look at the facts of how our value proposition is calculated, and the sorry state of affairs that the oil and gas industry is in. Then you will see that this value is available by implementing the Preliminary Specification in a timely manner.

Even my claims are now being out done by none other than the number one consulting firm in the world. McKinsey Consulting are claiming in an article that the Internet of Things (IoT) will generate $4 to $11 trillion in value by the year 2025. That’s annually! Which makes my $1.0  to $1.8 trillion per year look pretty small in comparison. Its good to have such prestigious company in the same nuthouse that I occupy. Here’s what they had to say.

The Internet of Things—sensors and actuators connected by networks to computing systems—has received enormous attention over the past five years. A new McKinsey Global Institute report, The Internet of Things: Mapping the value beyond the hype, attempts to determine exactly how IoT technology can create real economic value. Our central finding is that the hype may actually understate the full potential—but that capturing it will require an understanding of where real value can be created and a successful effort to address a set of systems issues, including interoperability.

To get a broader view of the IoT’s potential benefits and challenges across the global economy, we analyzed more than 150 use cases, ranging from people whose devices monitor health and wellness to manufacturers that utilize sensors to optimize the maintenance of equipment and protect the safety of workers. Our bottom-up analysis for the applications we size estimates that the IoT has a total potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025. At the top end, that level of value—including the consumer surplus—would be equivalent to about 11 percent of the world economy.

McKinsey are on the same wave length that I am in terms of the impact that the Internet is going to have on the business community. They are applying their analysis to all industries to come up with their much larger number. However the reasons that the value are being generated are the same. They note.

The digitization of machines, vehicles, and other elements of the physical world is a powerful idea. Even at this early stage, the IoT is starting to have a real impact by changing how goods are made and distributed, how products are serviced and refined, and how doctors and patients manage health and wellness. But capturing the full potential of IoT applications will require innovation in technologies and business models, as well as investment in new capabilities and talent. With policy actions to encourage interoperability, ensure security, and protect privacy and property rights, the Internet of Things can begin to reach its full potential—especially if leaders truly embrace data-driven decision making.

A little background into our name. In the late 1990’s Professor Paul Romer then of Stanford University came up with what has come to be known as “New Growth Theory” how economies grow in the 21st century. It used to be that if you wanted to grow the economy you should invest in financial capital, transportation or communications. These investments had the effect of enabling further growth in the economy. This theory has waned as the economy has become more advanced. Therefore a new theory for growth was needed. In essence Professor Paul Romer of New York University “New Growth Theory” is that you invest in People, Ideas & Things. I thought it would be worthwhile to adopt this as the name of the company and only converted the “things” to “objects” as we are object based software developers. Clearly this also ties in with the Internet of Things being a large part of Professor Paul Romer’s new growth theory. McKinsey now seem to be on to this as well. Here is Professor Romer’s concluding remarks in the Library of Economics and Liberty.

Only a failure of imagination, the same one that leads the man on the street to suppose that everything has already been invented, leads us to believe that all of the relevant institutions have been designed and that all of the policy levers have been found. For social scientists, every bit as much as for physical scientists, there are vast regions to explore and wonderful surprises to discover.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here

Friday, June 13, 2014

Highly Effective Digital Enterprises

McKinsey & Company have published an article that speaks directly to the type of work that we are doing here at People, Ideas & Objects and the user community. The title of the article is “The Seven Habits of Highly Effective Digital Enterprises”. You can view the article from the link. What the article provides is the necessary ingredients that are needed to ensure a transition from the “old” world to one that is similar to what we are discussing here at People, Ideas & Objects for the oil and gas industry. I won't go through the seven steps individually as they are all on point and necessary to make the transition. What I will point out is the major flaw in the article from our point of view, and maybe in other industries as well.

That is the bureaucracy are in control of the budget that will fund the “new” digital enterprise. And therefore the “new” digital enterprise doesn't and won't exist. At least in oil and gas. I cant tell you of the difficulty I have had with the bureaucracy. They refuse to sponsor anything that will eliminate themselves from the landscape. You have a group of self interested people who will do whatever it takes to make sure that their domain remains in power at all costs. They are not going to fund anyone or anything that will remove them from that position. If someone insists on it being done they may go through the motions if necessary but they will make sure that the initiative fails. The fact of the matter is that there is no way in which they can be dealt with in a reasonable manner. The assumption in the article that the funding for the initiative is in place is therefore flawed, and therefore the outcomes are flawed.

The only way in which to deal with the bureaucracy. And this is the current thinking that I have. Is to provide the investors, the producers and the people who work within the oil and gas industry. Those that are as frustrated and annoyed with the bureaucracy as I am. To choose to move to an alternative means of organization for the oil and gas industry. Therefore we need to prepare an alternative means of organization for the oil and gas industry based on the vision of the Preliminary Specification, the Oracle Fusion Middleware and Application foundation, the user community that we are building here and the service providers. Enabling a choice for people to make as to who they want to manage their assets is therefore the manner that we need to prepare our offering.

When the time comes to make the decision as to which solution to choose from. The bureaucracy will have a difficult time making any assertion that they should be the choice. When we provide over $705 billion in opportunity costs from the decentralized production model. At least as much unquantifiable value that we can achieve from the structure of the service providers using automation, specialization and the division of labor. The structure of the user community and its ability to facilitate change and make the industry a dynamic, innovative and profitable oil and gas industry. These are the things that we are structured to provide.

And we do this by going to the core of the business. By moving the compliance and governance frameworks of the hierarchy into alignment with the Joint Operating Committees legal, financial, operational decision making, cultural, communication, innovation and strategic frameworks. We achieve a flexibility, speed, innovativeness, and profitability in our producer organizations. A business model that we have only begun to explore. It is this alignment that also eliminates the bureaucracy from the scene. And that is why they fight us. They don't care about producer profitability, speed, accountability or being dynamic. They are only concerned that they remain in power and they have their pensions vested. And that is why they need to be removed. So join me and help prepare for this decision to be made and make the oil and gas industry into the dynamic, innovative and profitable industry we know it could be.

The Preliminary Specification provides the oil and gas producer with the most profitable means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here

Tuesday, June 10, 2014

Lou Gerstner on Strategic Planning

McKinsey Consulting have republished an article written by Mr. Lou Gerstner of IBM fame. Originally published in December 1973 when he was a McKinsey Consultant the topic of discussion is strategic planning. It seems pertinent today to the oil and gas industry in terms of the decision they should undertake to proceed with People, Ideas & Objects Preliminary Specification. So I thought I would take the material and apply the knowledge to the situation in the industry and use Encana Corporation as the example firm in my calculations.

One of the first things you notice in this article is that its 1973 and there are no personal computers and spreadsheets have not yet been developed. The entire point of the article is to take the strategic decision that an organization could make and run a number of different scenarios regarding the changes that it would have in the business. To make those changes reflective in the financial statements on a proforma basis. The difference between 1973 and today is that these are done constantly vs. what appears to be a rarity in the period of time that Mr. Gerstner is discussing.

However the point is valid particularly for running the scenario of “what if” the firm adopted the Preliminary Specification as the business model for the organization. We have claimed that the scope of the changes are responsible for $705 billion in opportunity costs for the period between 2009 and 2019. Therefore it should be incumbent on each organization to run the calculation on their own financial data to determine what impact the Preliminary Specification and the user community would have on their organization.

As an example we have selected Encana Corporation and run the business model against their financial data for the period between 2014 and 2019. We chose Encana as it is predominantly a gas producer and their operations are marginal at best. Without too much surprise the total incremental value that is generated by using the Preliminary Specification and the user community is $17.1 billion for that period. It is made up of two components, the increase in revenues of $15.8 billion and decrease in G&A costs of $1.3 billion. With value increases of that scale it would be worthwhile for Encana to fund 100% of People, Ideas & Objects and the user community. If they did they would still have $13 billion left over.

Calculations for Encana are included in the Preamble Wiki page. It is important to emphasize that these are only the values that we are able to quantify. Further quantification of the value from specialization and the division of labor cannot be determined at this time. However it is believed to be as material. The value from specialization and the division of labor enable the industry to expand its output from the same resource base. Enabling it to approach the goal of energy self sufficiency for the North American marketplace.

We will continue to look for ways in which to ensure that we, People, Ideas & Objects and the user community, provide the oil and gas producer with the most profitable means of oil and gas operations. We have the business model of the Joint Operating Committee as the key organizational construct of the dynamic, innovative and profitable oil and gas producer. It is the means in which this value is being generated, and it will be the means in which future value is generated. For when we move the compliance and governance frameworks of the hierarchy into alignment with the legal, financial, operational decision making, cultural, communication, innovation and strategic frameworks of the Joint Operating Committee. We attain a flexibility, accountability, speed, innovativeness and profitability in our producer organizations. We have only begun to fully explore the potential of this model. In the hands of the user community there will be an unending flow of innovations that provide real value for the oil and gas producers.

The Preliminary Specification provides the oil and gas producer with the most profitable means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here

Saturday, September 10, 2011

McKinsey, Translating Innovation into U.S. Growth


There has been much discussion about the role of the United States in the global economy since S & P downgraded their debt. This McKinsey article is an interesting discussion of where the country stands in terms of their influence on global innovation. Certainly the U.S. has been the global leader in innovation. And there are many issues that can be debated as to what that role will be in the future. This article puts a few of them on the table. And although I don’t necessarily agree with the findings, it may have some value to the community.

The difficulty that I have with the document is its reliance on clean energy and the belief that these investments are what will bring about innovations that will sustain the global economy. These ideas of running your car on electricity and saving the planet are about as good as making $1,000.00 a day from your home in your spare time. Well below the esteem of a McKinsey to be recommending them.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, September 04, 2011

McKinsey, On Getting IT Spending Right


How do we know when we’re spending the right amount of money on Information Technology. McKinsey have an answer to this difficult question in an article entitled “Getting IT Spending Right This Time”. Written in May 2003 I think this article has a few points that have stood the test of time and are pertinent today.

People, Ideas & Objects unquestionably are a technology company. However we are focused on bringing business solutions to market. Solutions like using the Joint Operating Committee as the key organizational construct of the innovative oil and gas producer. We are not selling technology for technology sake. We are selling innovative business solutions. And maybe most importantly, we are solution providers, not change agents. We feel there is a big difference and it appears McKinsey feels the same.

Compounding the challenge is the tendency to view technology, first, as a panacea and, then, after the hype proves unrealistic, as anathema. The experience of the leaders shows that new technology alone won’t boost productivity. Productivity gains come from managerial innovation: fundamental changes in the way companies deliver products or services. Companies generate innovations, in fat years or lean, by deploying new technology along with improved processes and capabilities.

This next quote from McKinsey brings up an important consideration. That the investment in IT in itself will not provide the solution to the problem. There are other investments in the underlying business that need to be considered in order to align the business with the IT investments. What we feel we are doing with the developments at People, Ideas & Objects are aligning the IT developments with the oil and gas business. The Joint Operating Committee is systemic throughout the global oil and gas industry. It is the legal, financial, operational decision making, cultural, communication, innovation and strategic framework of the oil and gas industry. We are identifying, supporting and aligning these frameworks with the compliance and governance frameworks of the hierarchy to achieve a speed, innovation and accountability for the innovative oil and gas producer. We are moving the systems towards the way the industry operates. Not attempting to move the industry towards some theoretical Information Technological model.

For companies competing on the basis of IT-enabled advances, knowing when to jump onto the innovation racetrack can be as important as how. Timing and sequencing, at their simplest, ensure that all prerequisite investments are in place before new IT initiatives are launched. Particularly in the retail sector, our research highlighted the importance of multiple tiers of investment, each laying the foundation for the next. In general merchandising, for example, before companies can implement sophisticated planning applications, a certain level of competence in warehouse- and transport-management systems is needed to get goods to customers.

So yes we should make these investments in preparation for the implementation of People, Ideas & Objects systems. But those should be to ensure that the community first of all captures the correct ways and means of industry operations in the Preliminary Specification. And that we continue to ensure that the industries needs are met by the technology, not the technologies needs are met by the industry.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, September 03, 2011

McKinsey on Productivity


Its the weekend and we have two McKinsey articles to fill in the time with some topical discussion. This first article is on productivity and how we need to accelerate, through innovation, our productivity to ensure job growth continues.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, August 28, 2011

McKinsey, The Perils of Bad Strategy


This McKinsey paper is a must read. Written by Professor Richard Rumelt it provides a critical review of strategy. A review of which we can evaluate our strategy of using the Joint Operating Committee as the key organizational construct of the innovative oil and gas producer. In this paper entitled “The Perils of Bad Strategy” Professor Rumelt states:

A strategy is a way through a difficulty, an approach to overcoming an obstacle, a response to a challenge. If the challenge is not defined, it is difficult or impossible to assess the quality of the strategy. And, if you cannot assess that, you cannot reject a bad strategy or improve a good one.

The challenge that I foresee the oil and gas industry experiencing is the heavy demand for the commodity. In most situations this would be considered a positive thing with the positive effect on prices and the resulting windfall profits that would naturally arise. However, a second sober look at the implications of the high demand shows the activity levels will need to increase. Next, the fact that each unit of energy requires an ever increasing level of earth science and engineering effort for each unit of production. These two facts demand more of a critical human resource that is difficult to increase to meet these demands. More earth scientists and engineers are not readily available to satisfy these new demands. Therefore we need to deploy the resources we do have more strategically.

In the Resource Marketplace module we have talked about a revised boundary between the market and the producers. Where the producers are focused on their asset base, consisting of their leases and physical assets, and their science and engineering capabilities which they apply to their asset base. The rest of what they need has to come from the marketplace. There are companies like Encana Corporation that feel they can do it all. Encana has dozens of drilling rigs that they own and operate, I assume because the drilling firms are unable to drill Encana’s wells to Encana’s standards. Soon they’ll be opening a drill bit division. This is the point that Professor Rumelt is making in this next quote.

Good strategy, in contrast, works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favourable outcomes. It also builds a bridge between the critical challenge at the heart of the strategy and action—between desire and immediate objectives that lie within grasp. Thus, the objectives that a good strategy sets stand a good chance of being accomplished, given existing resources and competencies.

Focusing on finding and producing the oil and gas is the key value add for an oil and gas producer. Everything else is secondary and should be provided to the producer through the market mechanism. People, Ideas & Objects also provide the opportunity to pool the earth science and engineering resources represented in the Joint Operating Committee’s participants to further ease the demand on these resources. This is done through what we call the Military Command & Control Metaphor. Building the earth science and engineering capabilities necessary within each producer firm creates unnecessary competition for these resources. Pooling increases the supply / availability of these resources to the producers, therefore eliminating waste, excessive demand and redundancies.

Despite the roar of voices equating strategy with ambition, leadership, vision, or planning, strategy is none of these. Rather, it is coherent action backed by an argument. And the core of the strategist’s work is always the same: discover the crucial factors in a situation and design a way to coordinate and focus actions to deal with them.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, August 27, 2011

McKinsey, On Organizational Health


It’s the weekend, which means its time for some McKinsey content. Today’s post provides some discussion around the topic of organizational health in a paper entitled “Organizational Health: The Ultimate Competitive Advantage.” This paper comes with a short video presentation by the authors and is a summary of their upcoming book. The substance of their work is captured well in this following quote.

Organizational health is about adapting to the present and shaping the future faster and better than the competition. Healthy organizations don’t merely learn to adjust themselves to their current context or to challenges that lie just ahead; they create a capacity to learn and keep changing over time. This, we believe, is where ultimate competitive advantage lies.

I particularly liked the five frames in which the authors used to define the state at which organizations passed through. The Aspire, Assess, Architect, Act and Advance frames accurately capture the long road ahead for us. Looking critically at their chart we could best claim to “Aspire” at this time at People, Ideas & Objects.

This would also leave us looking to perform the next frame which would be to “Assess”. And it is here that we have much to be desired. The oil and gas industry is in no condition to address the markets demands for energy. Its output has been stagnant since 2005 and the sense of urgency to address the problem does not exist.

If not for the global recession, the demand for energy would far outstrip supply and the producers would be scrambling in a very tight market. Nonetheless, I think that day is still ahead of us, and soon. Before we can approach those levels of energy demand we will need to organize ourselves first. That organization begins here at People, Ideas & Objects with building the systems that identify and support the Joint Operating Committee, the key organizational construct of the innovative oil and gas producer.

Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, August 20, 2011

McKinsey, Edmund S. Phelps


It’s Saturday which means its time for some clearing of our McKinsey backlog. This is an enjoyable read from Edmund S. Phelps who won the Nobel Prize in Economics a few years ago. He is speaking on the topic of innovation, and although not specifically topical to what we are do here, it is worthwhile reading. The title of the paper is “Supporting Innovation: Why and How”.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, August 14, 2011

McKinsey, Measuring the Nets Growth Dividend

It’s the weekend which means its time to review some of our McKinsey backlog. Today we have the executive summary of “Internet Matters: The Net’s Sweeping Impact On Growth, Jobs and Prosperity” from the McKinsey Global Institute.

I want to highlight three quotes from the executive summary as they pertain specifically to the work that we are doing here at People, Ideas & Objects. The first quote states what should be obvious to most people by now;

Our research shows that more than 75% of the value added created by the Internet is in traditional industries. The businesses that have seen the greatest value creation have benefits from innovation leading to higher productivity triggered by the Internet. 
Applying technology to the oil and gas industry is to benefit those that work within the industry and the industry itself. To a large extent, what the Draft Specification provides is necessary functionality and process management for the industry to innovate and meet the markets demands for energy. Its not a nice to have but a necessity.

A few days ago we discussed Professor Paul Romer’s New Growth Theory and the three themes of People, Ideas & Things. In this next quotation McKinsey Global Institute discusses endogenous economic growth’s impact on per capita GDP.
The maturity of the Internet correlates with rising living standards.
Leveraging endogenous economic growth theory, we have been able to show that Internet maturity correlates with growth in per capita GDP. Using the results of the correlation, a simulation shows that an increase in Internet maturity similar to the one experienced in mature  countries over the past 15 years creates an increase in real GDP per capita of $500 on average during this period. It took the Industrial Revolution of the 19th century 50 years to achieve the same results. This shows both the magnitude of the positive impact of the Web at all levels of society and the speed at which it delivers benefits.  
If we are currently seeing these dramatic effects on per capita GDP, then the Information Revolution is well entrenched and the benefits to society are beginning to develop. As time passes these benefits will multiply and the values realized will grow. Now is the time to become active in these areas and start at what can only be described as the beginning of the commercialization of the Information Revolution.

This last quotation from McKinsey’s report advises where business leaders should put the Internet in terms of their strategic agenda. The Information and Communication Technologies are too powerful to leave outside of the tool kit of any CEO or business leader. Not only are they are powerful ways in which to lever competitive advantages, they leave areas of weakness exposed to competitors who exploit these technologies.
All business leaders, not just e-CEO’s, should put the Internet at the top of their strategic agenda.
Business leaders must optimize the benefits gleaned from the Internet through innovation and change. It is no longer a choice, given that many businesses face competitors who capitalize on the power of the Internet to Innovate business models. Business leaders should play a significant role in the spread of the Internet and systemically review how the Internet allows them to innovate more aggressively and even reinvent their business models to boost growth, performance, and productivity. 
For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, August 13, 2011

McKinsey, Preparing Your Organization For Growth


With the increasing demands in the oil and gas industry of more engineering and earth science effort in each barrel of oil produced. And the marketplaces demands for “more” makes the challenges faced by the industry far more complex then what has been faced in the past. Just standing still requires the producer to attain more capabilities. How does a producer prepare for growth?

In this McKinsey article the authors discuss three “pain points” experienced by three organizations. Although none of the three organizations mentioned are in the oil and gas industry, it is important to think ahead as to what we will face in terms of how the industry will need to change and grow.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, August 07, 2011

McKinsey on Big Data


In this paper McKinsey are writing about what they call “Big Data” which they define as “datasets whose size is beyond the ability of typical database software tools to capture, store and analyse.” Although their recommendations are limited to this definition I find that they apply to the growth in data in general. In particular McKinsey’s recommendations may be applicable to the data sets that are in use in business and particularly the growth of data that may occur in the very near future. Specifically in oil and gas it is anticipated that the demand for data will continue to grow. People, Ideas & Objects have anticipated this growth and based our architecture on a Technical Vision that can accommodate that growth.

McKinsey’s “Big Data” recommendations are listed here. The full report is available here. It is a comprehensive report, however I do recommend reading at least the Executive Summary.

  1. Data have swept into every industry and business function and are now an important factor of production.
  2. Big Data creates value in several ways.
    1. creating transparency
    2. enabling experimentation to discover needs, expose variability, and improve performance.
    3. segmenting populations to customize actions.
    4. replacing / supporting human decision making with automated algorithms.
    5. innovating new business models, products and services.
  3. Use of Big Data will become a key basis of competition and growth for individual firms.
  4. Use of Big Data will underpin new waves of productivity growth and consumer surplus. 
  5. While the use of Big Data will matter across sectors, some sectors are poised for greater gains. 
  6. There will be a shortage of talent necessary for organizations to take advantages of Big Data. 
  7. Several issues will have to be addressed to capture the full potential of Big Data.

To deal with the associated issues of data People, Ideas & Objects Draft Specification provides two modules. The Analytics and Statistics Module which is looking at the producer firms data and Performance Evaluation Module which looks at the Joint Operating Committee data.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, August 06, 2011

McKinsey, Google's Eric Schmidt

Its the weekend and that means McKinsey. This Saturday’s post provides a video of Google’s Executive Chairman Eric Schmidt talking on business culture, technology and social issues. I find that Eric Schmidt’s video presentations are as informative and valuable as those of Apple’s Steve Jobs. As such when either make presentations on any topic they are in the must view category. This McKinsey video doesn’t disappoint, enjoy.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, July 31, 2011

McKinsey on Governing Joint Ventures


As I promised yesterday, this McKinsey article on governing joint ventures has to reside in any one's top ten list of favorites. The work that we are doing in People, Ideas & Objects (PI&O) is moving the compliance and governance frameworks of the hierarchy into alignment with the Joint Operating Committee’s legal, financial, operational decision making, cultural, communication, innovation and strategic frameworks. To do so provides us with greater speed and accountability from an organizational point of view. This has been difficult to tangibly quantify and qualify. That is until this McKinsey article.

Comparing the governance of both the standard corporate model and a generic joint venture. McKinsey provides a strong contrast of the opportunities and issues that we face in aligning the innovative oil and gas producers nine frameworks under the PI&O software. Noting in the paper that we not only attain greater speed and accountability but;

Despite the differences between wholly owned businesses and joint ventures, many of the basic tenets of good corporate governance can—and should—be applied to both. The principles discussed here might be seen as the minimum needed to promote accountability, speed, transparency, and, ultimately, performance.

The article recommends specific actions be taken to enhance the governance of joint ventures. These include;

  • Appoint at least one outside director.
  • Designate lead directors or a strong chairperson.
  • Review and reward the performance of board members.
  • Sponsor an external audit.
  • Create a real challenge process. (Rigorous reporting and review process.)
  • Let the ventures CEO run the business.

These are all excellent points of discussion on how the governance of the Joint Operating Committee could be handled in the Preliminary Specification. The community will need to take recommendations like these and determine what specific actions and processes need to be included in the specification. I could see the governance model being somewhat of a checklist of functionality and process management that the partners could agree upon. The PI&O software then providing that level of governance for the JOC. These are the decisions that the community has to make and why the producers are such a critical part of the discussion.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Sunday, July 24, 2011

McKinsey, Dan Ariely on Irrationality


Another short McKinsey article to fill out our first week back. This article provides a different perspective on some every day points of view in business. Its a little light hearted but I think you’ll enjoy it.

http://www.mckinseyquarterly.com/Dan_Ariely_on_irrationality_in_the_workplace_2742?pagenum=1#daninteractive


For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Saturday, July 23, 2011

McKinsey, Five Misconceptions About Productivity


One of the benefits of a six month sabbatical is that we have aggregated many articles from McKinsey and others that pertain to the work we are doing at People, Ideas & Objects (PI&O). These articles are ideal for weekend postings and will enable us to fill out several months of weekends blog posts. In this first post McKinsey have an article entitled “Five Misconceptions About Productivity

In oil and gas we are primarily concerned with the productivity of earth scientists and engineers. Specifically their ability to find and produce more oil and gas. These people’s ability to produce more energy is challenged today by steep decline curves and the challenge of finding the reserves. Since 2005 the world’s oil production has remained somewhat static and its unknown what influence OPEC may have been able to impact the market. Nonetheless the valuable energy resources require significantly greater volumes of science and engineering per barrel of oil produced. These science and engineering resources are somewhat limited in their volume and the capacity to increase them is very difficult, therefore we are left with the need to increase their productivity.

In today’s marketplace we thankfully have the means at our disposal to significantly effect the productivity of our organizations. In 1776 Adam Smith determined the division of labor was able to lead to higher productivity. Division of labor is the source of all economic output. That is to say that through successive reorganizations and application of the principles behind the division of labor we have been able to reach the level of economic activity we enjoy today. Therefore to expand the output of the oil and gas industry, which we can all agree is required, will require that we reorganize ourselves to achieve a higher level of economic output.

As the industrial revolution had a significant impact on our quality of life, the coming Information & Communication Technology revolution will have a significant impact on the output of our organizations. This is the opportunity that this community has in hand with PI&O. In this McKinsey article they point out a number of misconceptions about productivity, the one that stands out for me is;

Productivity is only about efficiency and is designed to bolster corporate profits.
Productivity can come either from efficiency gains (such as reducing inputs for given output) or by increasing the volume and value of outputs for any given input (for which innovation is a vital driver). The United States needs to see both kinds of productivity gains to experience a virtuous growth cycle in which increases in value provide for rises in income that, in turn, fuel demand for more and better goods and services.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of PI&O. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining PI&O can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Monday, July 18, 2011

Where we are at, Phase-Two Begins


The sabbatical is over and its time to get back to work. It’s been a restful and worthwhile break to recharge the batteries to make the crucial transition from phase one of the project to begin the second phase. It’s therefore best to start off with a quick summary of where we are at in terms of how we left things before the sabbatical.

Most importantly is the Draft Specification which was published in July 2008 and forms the basis or foundation of the second phase of our software developments, the Preliminary Specification. This eleven module system description defines what a producer firms systems would look like when we use the Joint Operating Committee as the key organizational construct of the innovative oil and gas producer. It is radically different and provides an overall vision of how producers would manage their assets in the most profitable manner. The Draft Specification is available for review on two pages located here.

From the period of time between August 2008 to May of 2010 we undertook a detailed discussion of how and what the Draft Specifications impact would have on an oil and gas concern. Taking issues and opportunities of the day and applying them to the specification. Providing real life testing and understanding of these ideas. We also had the opportunity to take McKinsey’s and others research and apply it to further broaden the overall understanding of the Draft Specification. These blog posts can be sourced through the archive during the period noted, or through the McKinsey label.

Although we continue to promote the Draft Specification from time to time we began to move the project forward with some specific deliverables in 2010. During the period June - August 2010 we developed the Phase Two proposal that forms the framework of the second phase of the work that is now ahead of us. These blog posts can be aggregated by selecting the Phase-Two label in the blog. One important difference between what is stated in that period and now is that I will be clearer on the budget requirements of the Preliminary Specification. So stay tuned for that.

Lastly during the time frame of August 2010 to January 2011, or the beginning of our sabbatical, we reviewed the key points in the Preliminary Research report. Our special emphasis was on Professor Giovanni Dosi’s paper “Sources, Procedures, and Microeconomic Effects of Innovation”. These blog posts can be aggregated by selecting the “Review” or “Dosi” label. I highly recommend reviewing this work thoroughly. Professor Dosi’s work is very pertinent and applicable to using the Joint Operating Committee in the manner that the Draft Specification suggests. In fact the Draft Specification is designed using the research of Dosi’s and many others research and therefore makes the understanding of his work critical.

It is on that note that we say so long to the heavy emphasis on research. I expect that the primary focus on research will fade from this blogs pages. We are moving to a commercial forum and one that focuses on building software. Research has provided us with a broad base of understanding and a foundation of almost 800,000 words of how the Joint Operating Committee builds real value for the innovative oil and gas producer. Now we turn to a new a focus that builds on that foundation. We are now focused on building the software that makes that value real. Value that recognizes that it its not just ownership of the oil and gas assets; but also access to the most innovative software to provide the most profitable means of oil and gas operation.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

Please note what Google+ provides us is the opportunity to prove that People, Ideas & Objects are committed to developing this community. That this is user developed software, not change that is driven from the top down. Join me on the People, Ideas & Objects Google+ Circle and begin building the community for the development of the Preliminary Specification. Email me here if you need an invite.

Friday, January 14, 2011

McKinsey, When Failure is not an Option, Part 2

McKinsey have published the second part of this highly applicable series on Joint Ventures. Our review of the first part of this McKinsey series was published in September 2010. Part 2 of this article discusses several points that are in direct support for People, Ideas & Objects. A bold statement, however, one that will be proven valid through our review of this document. Specifically the three points that are verified in this post are.

  1. The need to have a third party provide the software development service that People, Ideas & Objects proposes. 
  2. The Military Command & Control Metaphor, that was developed in the Draft Specification, provides an industry wide governance model that is directly supported in this article. 
  3. Compliance, on an automated scale, is a necessary component of the governance and third party nature of the offering noted in 1) and 2). 

We begin with a quotation that summarizes the state of affairs in the oil and gas industry.
As we discussed in the first article of this series, the scale, complexity and risk associated with the execution of large scale projects frequently leads to joint venture constructs as a way to introduce expertise, diversify risk and gain access to capital. We also observed that, up until recently, the majority of these partnerships consisted of a dominant, operating partner that provided the bulk of the resources and leadership, paired with one or more relatively silent partners in the background. Interestingly, this trend has shifted dramatically over the last decade, and project JVs are increasingly becoming a “partnerships of equals”, with shared governance, staffing and execution responsibilities distributed among the participants.
McKinsey use the example of a large refinery to show the difficulty in managing a large Joint Venture today. They detail the four major risk factors that are evident in the case example, and I would note that these are the issues, to a greater or lesser extent, that are pre-eminent in all oil and gas ventures;

  • Cross-cultural challenges associated with the introduction of sovereign nationals and international corporate employees
  • Inter-company incentive and strategic misalignment between two (or more) principle investors
  • Expertise, system and process friction between the various contractor and subcontractor teams, who may have alliances or other preferred relationships with one of the JV partners
  • Normal” start-up risks associated with the scale-up and development of a project “new-co”, the on-boarding of new JV employees, integrating staff from the partners who have been seconded to the JV, and greenfield development of new systems and processes, among others.

There’s no denying these are the issues that all oil and gas projects are facing. McKinsey offer a four step solution that dovetails with the Draft Specification. If we ask first hand, “what if” there were standard systems and procedures that were used for all Joint Operating Committees across the oil and gas industry? Where the ability to assign a generic template of assignable roles and responsibilities. Where the compliance and governance of each jurisdiction is embedded within the third party vendors (People, Ideas & Objects) software's policies and procedures. Where the generic management of the Joint Operating Committee was handled through software provided by a third party that represented all producers. Software that managed each of the producers compliance for the various jurisdictions in which they operated, to the governance of the people that were pooled by the various firms represented in the Joint Operating Committee. This brief vision of what People, Ideas & Objects is proposing in the Draft Specification is being mirrored in this discussion of McKinsey’s four steps. We begin.

Step 1 Define and Align

Alignment is difficult to attain within the oil and gas industry for the many reasons cited in the subsequent McKinsey quote. We need to begin by aligning the compliance and governance frameworks of the hierarchy, moving these two frameworks into alignment with the legal, financial, operational decision making, communication, cultural and innovation frameworks of the Joint Operating Committee. Talk of alignment with out building the software that identifies and supports the alignment of these eight frameworks, first and foremost, is just more talk. One of the key benefits of doing this is the alignment of compliance with operational decision making. The net benefit of which is greater accountability. But by combining all eight of these frameworks we are making the Joint Operating Committee capable of dealing with the all aspects of the producer(s) needs.

McKinsey note:
...project JVs often begin by bringing together unlikely allies whose goals, cultures, operating models, risk appetites, and financial strengths are apt to vary widely. Identifying the disparate goals, models and strengths and weaving them into a single, aligned and broadly-communicated vision is critical for an effective JV to function effectively. This vision supported by a number of underlying organizational themes and parameters creates a common language for the JV, and is a reinforcing mechanism for maintaining alignment across all partners.
What I am asserting here is the need to have the generic business aligned around the Joint Operating Committee so that the vision of the JV can become the focus of those working within the project / property.

Step 2 Build

I want to limit the discussion to the governance related points. I will therefore note the following McKinsey quote and refer to the related discussion in Step 3 Execute, below.
The process of building the team should start with recruiting the best people from each participating partner. This can be quite a challenge, as top talent often see joining the JV as a career- limiting move, putting them “out of sight, out of mind”, for years. And, since the JV’s priorities differ (by necessity) somewhat from those of the parent organization, even the successful achievement of those objectives by secondees may not be viewed as credible or be given the same merit by those in the parent organization.

Step 3 Execute

The Draft Specification developed the Military Command & Control Metaphor to replace the Governance of the hierarchy with a usable model within the Joint Operating Committee. A governance model that worked similar in fashion to that which the NATO forces use. One that has the various countries military forces used to deploy troops from various countries in many different theatres of war and other technically difficult operations. Looked at from both the micro and macro level, the oil and gas producer can attain the ability to deploy and redeploy resources as required across the various JOC’s they participate in. The ability to have the partnerships pool their resources, and these resources have a deemed chain of command that is recognized on an industry wide basis, with a defined roles and responsibilities that are agreed to, can provide a strong governance model to the issues that McKinsey ably addresses in the industry.

In addition to meeting these technical deliverables, team members must also

  • effectively scale the organization quickly 
  • establish a culture of self performance, and 
  • continuously adapt and evolve.

These are very different types of work, requiring a loose – tight governance model which provides the JV and project team with sufficient flexibility to grow while at the same time maintaining a rigid link to the parent companies’ governance and control mechanisms.
As the project team moves into execution, it must define a model for itself that allows it to be independent while continuing to deliver on parent companies’ needs. During execution, the leadership team also needs to think proactively about how to implement its newly constructed culture, processes and systems. Frequently complicated by a fragmented and globally disperse geographic footprint, the introduction of multiple new contractors and sub-contractors, and the fast pace at which the project evolves, it is easy to let the execution of these systems slip and to allow their effectiveness to wane. The JV leadership must establish a disciplined steering committee with direct accountability to the CEO to oversee successful implementation.

Step 4 Renew

I know I share with most people that have worked in oil and gas a feeling of frustration at the value that is occasionally lost in various Joint Operating Committees after phase changes or other transitions where people, teams, systems and procedures that were build up are left behind, dropped, shredded or forgotten. Very wasteful in the big scheme of things. Or how about the other situation that creates waste. That being the work done to manage the Joint Operating Committee, that was put together and was built as a one off installation of software and systems. Much of this work was done in recreating the wheel and as such it was “rebuilt” in order to address the unique characteristics of the property. McKinsey notes.
Perhaps the most overlooked success factor in constructing a successful project JV is to create clear opportunities for renewal. This renewal is both personal, for the individuals in the project team, as well as technical, for the systems and processes that we mentioned previously. While any project professional will readily acknowledge the dynamic and evolutionary nature of a project as it moves through its lifecycle, many frequently fail to recognize that people and systems need to evolve correspondingly. World class project JVs, on the other hand, establish clear breakpoints and formal evaluation steps, during which the leadership team evaluates the effectiveness of its people, tools and processes, and takes steps to inject fresh energy, capabilities and structure into the team where needed.
The purpose of People, Ideas & Objects is to provide a third party software development capability based on the Draft Specification. Using the Joint Operating Committee as the key organizational construct of the innovative oil and gas producer. This provides a means for all producers to mitigate these losses of value. One in which the use of a third party software vendor providing the software to run the JOC is available to all the producers of the venture. Where the software vendor is independent of each producer. Where what is learned and developed is able to be used in the future, in not just the JOC but potentially elsewhere. And what is learned elsewhere could potentially benefit the JOC.

Compliance as a potential fifth step.

Lastly I want to comment about compliance which is not directly addressed in this McKinsey article, it is a related topic that falls in with the discussion of governance. And when we are talking about compliance we are talking about the compliance of the Joint Operating Committee and its operations in whatever jurisdictions that it may be operating within. This therefore also involves the partners compliance for these operations as well.

People, Ideas & Objects as software developers could assure thousands of producers who might provide us with the financial resources to develop a software development capability that is focused on maintaining the compliance of thousands of producers with the thousands of regulatory bodies those producers have, or may have, operations in. What plans do each of these individual producers have to ensure their operations will be in compliance with these jurisdictions where the compliance requirements continue to expand? The movement of the compliance framework to the Joint Operating Committee should be seen as an opportunity to address the automation of compliance and an opportunity to integrate compliance within the other frameworks of the JOC.

To what extent can this type of automation be implemented is the question that needs to be answered. With each piece of legislation that is contemplated these days, potentially totalling several thousand pages, where the ability for people to manually keep up with the demands of the regulatory process of governments and regulators being potentially past, full automation of the compliance framework is a necessity, in my opinion.

McKinsey note toward the end of the document these possibilities exist, if only.

While JVs and projects are both uniquely challenging to execute well, there are similarities that enable world-class project managers to effectively build world-class JVs, and vice versa.

It is now time for producers to act. Review of our Revenue Model will inform producers how they can participate in the development of People, Ideas & Objects Preliminary Specification. Producers can contact me here for further information, or to begin the process of their participation.

Tuesday, November 23, 2010

McKinsey, Global Forces Shaping Business and Society

Once again McKinsey have impressed with a thorough summary of the situation in the global economy. This video presentation is very high level and only touches on individual points. However provides an overall summary and captures a spirit of the global economy and its future direction. To me these McKinsey partners are discussing the future economy and the ways and means of how and what of how people will earn there way in the world.

A fascinating and well presented discussion I highly recommend bookmarking the video.


Monday, November 15, 2010

McKinsey on Creating Value

In a world where Cash-for-Clunkers and QE II are considered solutions to what ails our economy. It is refreshing to see this presentation by McKinsey Consulting. This presentation is talking about the ways that value is created and destroyed in firms. Although the video at times seems to stumble, it is only in the presentation of difficult material that makes it appear that way. What is being discussed are advanced concepts that need to be adopted by innovative oil and gas producers.

McKinsey identifies four of the mechanisms that generate and destroy value in business. In the Preliminary Research Report it was noted that focusing on growth as a strategy may not generate the value that a producer firm needs. That innovation is a strategy to optimize the value of the producer firm is the focus of People, Ideas & Objects.

In a related paper, McKinsey relates the difficulty for firms to focus on value generation.

It’s one thing for a CFO to understand the technical methods of valuation—and for members of the finance organization to apply them to help line managers monitor and improve company performance. But it’s still more powerful when CEOs, board members, and other non-financial executives internalize the principles of value creation. Doing so allows them to make independent, courageous, and even unpopular business decisions in the face of myths and misconceptions about what creates value.
The Draft Specification provides two modules that make these calculations and enable these decisions to be made, the Performance Evaluation, and Analytics & Statistics modules. These two modules functionality are very similar. The key difference is that the Performance Evaluation module deals with the producer firm and the Analytics & Statistics module views data from the Joint Operating Committee perspective.

For the industry to successfully provide for the consumers energy demands, it’s necessary to build the systems that identify and support the Joint Operating Committee. Building the Preliminary Specification is the focus of People, Ideas & Objects. Producers are encouraged to contact me in order to support our Revenue Model and begin their participation in these communities. Those individuals that are interested in joining People, Ideas & Objects can join me here and begin building the software necessary for the successful and innovative oil and gas industry.

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