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COMPANY REPORT
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Company Report 2
Company Report
1.0 Background
The Oil and Gas industry has faced tremendous challenges over the last the years (Deloitte,
2017). The real problem lies primarily in the mining section. Fluctuation of oil prices can be
attributed to the instability in production. A case in point was the drastic changes in oil prices in
2014. Experts argue that players in this industry need to re-strategize and come up with measures
to cut costs. Investment in technology-led exploration has been identified as one of the major
areas that could help in the recovery of the industry (Deloitte, 2017).
Amina Inc, a gas and oil exploration company has been in existence since 1998. The
company operates in 37 countries with its headquarters in London. A total of 127,000 employees
works at Amina Inc. the company raked $ 170 billion in profits between in the financial year
2016-2017. Evidently, the company’s market is already established. However, with the
turbulence in oil prices and uncertainty of risks, the company aims to perform better than it’s
doing currently. Amina Inc seeks to position itself as the leading oil & gas explorers in the world.
The first phase involves identification of the project’s goals and objectives. The goal of the
project is to critically examine the organization’s current market situation. The team also
evaluates the company’s market position through the use of existing business models, theories
and conceptualized frameworks. The detailed report will help Amina Inc. maintain a competitive
advantage in the industry. The team intends to establish the project’s niche through digital
channels. The financial and non-financial benefits of the project will be demonstrated. The result
Company Report 3
is an organization that will not only be able to meet its basic needs, but also increase its market
The second phase of the project will involve planning. The five-member team constituted
will meet and discuss the scope of the project. A project plan to guide the team against the
objectives of the project will be developed. The project plan details the merits and challenges the
Benchmark Company
Tullow Oil and Gas Company is successful and can be used by Amina Inc. as a source of
motivation for them to harness new technologies. Despite the rise and fall of oil prices, Tullow
Company has maintained a high revenue in their operations. They have a high cash flow that has
been boosted by efficiency in their production activities. As such, their production strategy to
incorporate technological forms is a point of reference that can be utilized by Amina Inc. to
The internal and external factors affecting the oil & gas business environment is best
explained using Porters 5 forces. Five forces are namely buying power, supplier power, threats of
substitute and rivalry (McDonough, 2013) explain how the business environment impact on the
around these five forces. Strategies employed by industry are informed by these forces.
Moreover, coupled with PESTLE analysis, the team will determine Amina Inc’s drives and
The oil & industry is quite competitive. An extensive network of oil and gas explorers exist
the industry (Faulkner, n.d). Amina Inc major competitors are BP Plc, Royal Dutch Shell, Total
SA, Chevron Corporation and Exxon Mobil (Business Wire, 2011). These competitors increase
The oil industry faces a threat from substitute products. In the context of gas & oil industry,
substitute products are supplied by other different players in the energy sector (Faulkner, n.d).
These products include nuclear energy, solar power, ethanol, the wind and hydro-electric power
(Faulkner, n.d). However, the substitute products do not pose a serious threat to Amina Inc.
critics argue that these types of energy are not economical (Ross, 2015).
It is hard to for new entrants to create a niche in the oil and gas industry (Ross, 2015). The
legal, political and institutional framework governing the sector limits new entrants.
Furthermore, new investors require huge capital (Bloomerg, 2017). New advanced technology
requires investment in the recruitment of highly qualified staff. Getting employees who have
specialized in equipment handling is hard (Faulkner, n.d). Amina Inc is an already established
organization.
Company Report 5
Therefore, the threat of new entrants is inconsequential. The danger of fresh participants in
the petrochemical industry consumes a significant share of capital by nature. The Degree of
Rivalry (LOW) Competition within the local marketplace is inadequate, as there are only a
minority of companies with outstanding measurements. In the low import liabilities, there is the
hazard of importations from the Middle East and the Asia-Pacific area. Refineries are getting
incorporated, decreasing the business focus regarding the share of the market and in turn trigger
competition.
Amina Inc employs 127,000 employees. This implies that the organization’s human
resource is adequate. Those willing to join the group have a low bargaining power because
Amina Inc. is an ideal employer. Moreover, many people are willing to work for the
organization.
Amina Inc is one of the major players in the oil and gas industry. A significant market share
translates to a high bargaining power (Faulkner, n.d). Since prices are regulated, the buyer’s
bargaining power remains strong. The demand for oil and gas increases steadily with advance in
The company says its viable benefit results from a grouping of affordable or cheap feedstocks,
The PESTEL analysis is used to gauge the position of an organization in the marketplace. The
report is based on political, economical, social, technological, environmental and legal aspects of
identify its risks and business opportunities available in the market place (Faulkner, n.d).
1.1.2.1 Political
The major political players in the oil and gas industry are the various governments across the
globe (Talevski, Delima and Masden, 2009). Most countries that own oil and gas reserves control
the rights to offer exploration permits to companies. Besides, internal political factors such as
legal and regulatory framework, threats of terrorism and instability in some countries affect
investments. The growth of the industry is also determined by the growth of economy globally. A
country that has low growth rate is unlikely to demand large supplies of oil (Talevski, et al.,
2009). Amina Inc operates in 37 countries and has good political relationships across the board.
The organization fulfils all the legal obligations of the various countries. Internally, Amina Inc.
has complied with all the legal and regulatory requirements. Moreover, the 37 countries are
doing well economically. It is expected that demand for oil in these countries will increase.
Company Report 7
1.1.2.2 Economical
Amina Inc. realized a profit of $ 179 billion in the financial year 2016/17. The instability of
the industry continues to affect the organization. Amina Inc manages to remain profitable in
spite of these challenges. Investment in technology leading low cost of production cushions the
1.1.2.3 Social
Amina Inc. strives to maintain a good relationship with various stakeholders. The
society they operate in. this is done through social platforms such as twitter, face book, and
hangouts. The company developed a policy to guide the employees on the usage of these
platforms. The key objective is to find out the stakeholders’ lifestyles and demands. Feedback on
the queries the stakeholders make is also done on these platforms. The company acknowledges
the power of social media in reaching a large number of people. This is enhanced by
embracement of advanced technology (Bloomerg, 2017). Moreover, using social media saves on
1.1.2.4 Technological
Amina Inc heavily relies on technology in its daily operations. The organization employs
advanced technology during the drilling process. The price of drilling has gone down significant,
as low as $ 2Mcf (Boman, 2015). Amina Inc.’s hires operators who are experienced in choosing
fluid, rigs and pressurized pumping (Boman, 2015). The organization takes time to understand
the trends in the oil and gas industry and re-adjust its technology appropriately. Amina Inc. has
Company Report 8
calculate the possibility of triggering an earthquake during drilling prevents human made
The newest evidence know-how invention has resulted in the intellectual oil field to exist.
Substantial quantities of sensor records can now be deposited and investigated using innovative
conception equipment — allowing facts to remain at the foundation and avoiding diffusions of
substantial statistics stocks. Composite patterns of data can be noticed spontaneously, such as for
sanding or carbonite, so the person in charge can be notified (or the selected person can be
forewarned — and a reply can be instigated before a manufacture difficulty transpires (IBM,
2017). Visualization, modeling and analytics are enhancing the ability of decision makers to
comprehend the affluence of composite material, resulting to improved management of the tank.
The technology basis has been laid for the intellectual oil field to become a realism. There are
solutions that have been generated by IBM solutions. These are the development of oil fields and
actual time worldwide asset awareness. This is conducted by enabling the management of the
proactive asset.
Initial cautions and signals, along with suggested managements are sent to the labelled
persons through the recognition of composite data arrangements from devices. Oil and gas
companies can obtain the prosperity of data created from and about assets, such as actual sensors
and tendency antiquities, which can help them make decisions that are more conversant and
analytical as well about their business. Wells and fields can be administered distantly, helping to
save time and money, spread the influence of expert assets and intensify recoverable. The
Company Report 9
expected result is that these firms can progress manufacturing and salvage degrees with less
individuals on the site and on-platform — all while meaningfully decreasing hazards and
1.1.2.5 Environmental
Amina Inc. strives to carry out its drilling and oil production activities with minimal
companies. Amina Inc uses advanced technology to mitigate environmental degradation. The
1.1.2.6 Legal
Amina Inc abides with the legal requirements of the 37 countries. As Amina Inc. is based in
London, any regulatory and legal change made by this state affects its operations. Numerous
changes in the areas of taxes, employment, business regulations and medical insurance and
allowances affect the organization from time to time (Liebman, Sonnie and Bojilova, 2012). The
internalization of Amina Inc implies that a large amount of money is spent on risk mitigation.
This includes investment in technology to secure organization’s data. Complying with legal
Stakeholder theory simply depicts that the participants of a business are not just its direct
possessors but that investors are any individual, assembly or body that a company has “advanced
or hampered by its engagements and those who are of advantage or a problem to the firm with
Company Report 10
their activities” (Steiner, 2012). The situation is always a participant in oil spills. The
conservational effect of an oil spill on sea organisms and their ecologies has been recorded in the
right manner. Apart from workmen, other foremost sponsors include the surroundings, the Gulf
fishing industry, and businesses and communities that depend on tourism (Miles, 2012). Oil can
result to destruction through bodily contact, breathing, and immersion. Absorption of oil by
marine creatures has revealed organ impairment, ulceration, dropped immune systems, skin
Constraints Analysis
The theory of constraints may be utilized to analyze the business and detect the weaknesses
that may result in the company performing below the peak levels. However, before implementing
this theory in the business operations, it is necessary to identify its limitations and strengths
(Aven, 2015).
The theory states that few restrictions keep the complex processes such as business functions
from reaching the peak level or performance. It will be necessary for the limitations tat Amina
Inc. face to be identified and then establish ways to mitigate them as well. The constraints that
reduce performance should first be identified. In the case of Amina Inc., it may be slow methods
of production. As such, the resources of the firm will be spent to improve the production methods
or come up with new ones. It is however quite tough to identify the constraints (Suttle, 2017).
The constraint analysis is also faced with the limitation of lacking the consideration of
variable aspects. There are constraints such as the demand of a good tat may vary in an
independent way from any initiative that may be undertaken through the adoption of the theory.
Company Report 11
The demand for a product being a temporary constraint and rising as a result of the dynamics of
the market may be more valuable when there is an investment in the high nature of demand. As
such, it may lead to the firm having to utilize other forms of data to confirm if the constraints that
have been targeted by the theory will still be fixed (Swanson and Creed, 2014). The current time
frame of a business is usually in proper operation with the theory of constraints. There is an
analysis of the authentic situations, and thus it limits itself to the effects that may occur in the
short-term. For Amina Inc. to ensure that it does not incur this, it will be necessary to conduct an
examination of the long-term effects of their operations on the constraints that will be identified
by the theory (Singh, 2015). However, from the analysis conducted, it is possible that Amina Inc.
will not be quite affected by elements such as resources since it is a large firm. Small companies
are mostly affected by the limitation of resources such as funding and materials as well as forms
of technology. Additionally, Amina Inc. may also fail to complete all the steps that are required in
the implementation of the new kind of technology. The effects of this may be inefficiency in the
final product obtained. Delays are also another constraint that may be faced in the process of
undertaking a project. Nevertheless, this may be incurred by the small organizations that are
There are also strengths that are to be obtained from the constrained analysis. There is higher
efficiency. It also encourages the aspect of innovation in which the project managers will be
forced to be more innovative and resourceful. They may thus utilize the techniques of motivation
to get people to finish tasks in a quick manner. In this case, there may be the need to get
technology experts to assist in the implementation of the proposed method in the operations of
Financial risks faced by Amina Inc. include the fluctuation of oil and gas prices. Besides,
the organization has to deal with the rising cost of oil exploration and political factors
Strategic risks include risks emerging from changes in demand for oil and gas products,
political factors, and legal and regulatory framework of different countries. Complying with the
political, legal and regulatory framework of different countries leads to additional costs of
operation.
Amina Inc is involved in common analysis to guarantee that evaluations of open reserves are
an estimate of definite ideals, but geological peril also includes encounters with withdrawal,
budget containment matters and providing safe situations as drilling has progressed to less
friendly settings.
Regulatory compliance has worsened functioning and economic encounters. As safety guidelines
and ecological recommendations are constricted, the oil and gas sector is overstretched to
Portfolio management has developed from perceptions introduced via Markowitz but also
through the indulgent of risk and uncertainty endemic to the oil industry. Portfolio management
is the culmination of an understanding of risk analysis, risk management, and portfolio analysis.
In the development of an objective working portfolio, “risk analysis requires a systematic and
consist approach to prospect evaluation. A petroleum system approach that addresses charge,
trap, seal, and reservoir performance parameters is essential to success. Risk management uses
this information to compare alternatives. Portfolio analysis builds on risk analysis and risk
developing options for the decision-makers. It is crucial that the portfolio chosen exposes”3 the
firm to those opportunities, which best align the firm with its goals.
While modern portfolio theory within a financial framework addresses the proper allocation
of assets based on their interactions, a portfolio of oil and gas assets and opportunities provides a
planning tool for organizational management. Based on a portfolio approach to oil and gas assets
and opportunities, management can ask questions and get consistent answers. To establish
financial, strategic, operational and compliance risks, the organization adopts a comprehensive
risk analysis and mitigation measures. Amina Inc. carries out detailed risk analysis through
quantitative risk evaluation methods. The organization uses the Discounted Cash Flow analysis
(DFC) and analysis of scenarios (Rose Associates, 2017). The DFC enables the organization to
evaluate its strategic positioning. Financial decisions made by the team are informed by scenario
and DFC. Amina Inc. uses the two methods simultaneously to counteract the demerits of each.
The impact of quantitative oil and gas analysis is the possibility of cushioning the organization
Company Report 14
against uncertainties in the industry, especially in cost incurred. This analysis helps the team
approach where he forces for and against a particular proposed change are listed, discussed and
evaluated. All the various forces likely to affect a planned change are usually analyzed, and their
Amina Inc. will first define the problem or issue at stake. In this case, it entails the
implementation of technology in the up, mid and downstream operations of the company. The
desired situation will also be identified in which it is the particular element being targeted.
Amina Inc. has an objective of gaining competitive advantage once they harness new
technologies (Taylor, 2015). The factors that support the change in the right direction will be the
next aspect of identifying. These are the driving forces of the initiative to be undertaken. With
driving, forces also come the restraining ones. These are the pressures that resist the change that
has been proposed and thus want the status quo to be maintained. It is essential for Amina Inc. to
establish an inter-relationship among the pressures that are counterattacking the driving forces
(Erzah and Erzah, 2011). Once all these aspects have been identified, a comprehensive change
strategy will then be developed, and change can result from a combination of various elements.
These are such as strengthening the driving forces, remove or minimizing the restraining ones
The risk force analysis assists in the elimination of weaknesses that may have an adverse
impact on the entire project. Moreover, the strengthening forces will be utilized effectively to
The diagram shows the interaction of the positive and negative forces or the driving and
restraining aspects. It depicts the way they interact about whether they are strong, moderate or
One of the risk management strategy employed by Amina Inc. is portfolio management.
Portfolio management is an important risk management tool in the oil and gas industry. It results
Company Report 16
from risk evaluation, management of risk and development of portfolio analysis in the industry
(Cartwright, 2007). Amina Inc. has designed a detailed portfolio risk management program. This
program involves a review of parameters required in the oil production system. They include the
charges, traps, seals and performance of reservoir (Cartwright, 2007). Amina Inc. risk
management team determines the relationship between organization’s asses and market
opportunities. The opportunities that are cost effective and can place the organization at a
competitive advantage in the market are chosen. Portfolio management in Amina Inc. is used as a
tool for planning and management. The management seeks to identify the organizational goals,
the achievability of those goals and how these goals should be met. Portfolio management also
enables Amina Inc. plan for the future eventuality, in case the goals of the company change.
Amina inc. is aware that the organization faces numerous challenges. This is because the oil
industry is full of uncertainties. These range from oil spillages to fluctuation in products’ prices.
The company uses scenario planning as a risk mitigation measure. Scenario planning involves
identification of the major forces that causes change. Planning also includes the forecasting of
(Heijden, 1996). The management teams at Amina Inc. analysis the risks and the possible
rewards in the organization. This enables them to make informed decisions about risk mitigation
in the organization.
developed through coming up with a focal question. This focal question enables the organization
Company Report 17
to identify the primary area of interest during risk mitigation. After identifying the strategic issue,
the team focuses on the expected changes in the organization and driving forces behind these
changes. The organization analyzes how the different market forces lead to various outcomes in
future (Brummel and MacGillivray, n.d). The third stage in scenario planning involves the
mapping of uncertainties. Mapping these risk boundaries enables Amina Inc. explore the
different future outcomes. The major areas of concern are the changes in environmental legal and
regulatory framework of various countries. The other changes are related to technology. The next
step involves the development of a scenario framework which depicts a list of uncertainties and
their future outcomes. The next step involves the development of an explanation of each scenario
(Brummell and MacGillivray, n.d). The management then deliberates on the scenarios and
develops the best risk mitigation measures. Amina Inc. has a team of experts who monitor and
evaluate the process of risk mitigation. This team advises the management of viable actions in
the presence of any eventuality. This is the final stage of the scenario planning process.
The 5 M’s of management are crucial for the success of the organization. The first and most
significant aspect is man. Having the right personnel is important in this case as it will ensure
there are organizational effectiveness and efficiency as well. Having the right human resource
will then determine how the other necessary resources of the firm operate. With the right
personnel, materials and even finances will work in a productive manner to attain the objectives
of the organization. Time management is a critical part of the directorate that should also be
considered by Amina Inc. in their operations. Various strategies can be utilized by the firm to
ensure that they their machines and personnel use the time available in an efficient and proper
Company Report 18
manner as well. They can manage time properly by ensuring materials are delivered on time.
Additionally, with proper time management, the business will also be sustainable (Looy, 2016).
The second element in the 5 M’s of management is materials. The right materials need to be
placed for effectiveness to be attained in the end product or service. Poor quality materials will
result in loss of production or output. Machines are the third aspect. They should be designed,
installed and maintained in the right way as they will assist to reduce waste, generate products
that are more precise and save money as well (Singh, 2015). The firm should also incorporate the
latest methods that have also been well tested. With this aspect of management. Amina’s Inc. will
attain a lean and efficient process of producing their products. The fifth element is money that
ensures employees are well motivated and materials utilized for production are also sufficient
and of the right quality. It is fundamental for Amina’s Inc. to have an accounts department that
will ensure there is a smooth flow of operations and maximum operations are ongoing for the
The oil and gas industry faces numerous challenges in its management of the workforce. The
industry faces a major crisis due to technological advances (Deloitte, 2017). Changes in
technology require highly trained employees. The industry’s majority workers are nearing their
retirement age. The education sector has not fully embraced training in oil and gas production.
This implies that there is inadequacy of trained personnel. To counteract this deficiency, there’s
need for the use of data analytics (Deloitte, 2017). Data analytics enables organizations to recruit
the most suited employers in the industry. Besides recruitment, data analytics facilitates
Company Report 19
development of comprehensive training and recruitment methods. This is done through the
The management of Amina Inc. should focus on a plan for the workforce. This plan helps the
organization prepare contingency measures to deal with emerging changes in the market. The
other area of concentration should be acquisition of talent and deployment. This can be done
through analyzing the significance of employees who have attained retirement age. Data
analytics can be used to design data relevant to employment of young talent. Moreover, Amina
Inc. should come up with appropriate employees’ retention measures. Effective employee
management leads to cost minimization in the organization. It is recommended that Amina Inc.
carries a detailed workforce analysis. Analysis can be done through projecting the supply of
labor for five years. This projection should cut across the 37 countries the organization operates
from. An analysis of the relationship between oil production and available supply is necessary.
operations of Amina Inc. will turn out in the end. As such, the benefits and negatives of the
project will be identified and subtracted. The difference obtained will then determine whether
investing in technology will be beneficial. All the benefits and costs will thus be taken into
account and quantified in a proper way. The costs to be taken into account are the operating
Budgeting is of crucial importance as it entails the aspect of managing finances in the company.
Budgeting will assist Amina Inc. to spend the funds in an efficient manner and ensure that the
objective of the project is attained through evaluating the costs incurred versus benefits to be
derived. The total budget of the project will be $2.1 billion but the company management expects
to use 57% of the total amount in setting up the project whereas the remaining 43% is expected
to be used up as safe capital for financing the working capital requirements. There is the top
down and bottom up budgeting. The top down budgeting is where the total budget is broken
down to determine the budget or amount that should be spent on every element. Moreover, this
form of budgeting can be looked at in the perspective of where a cost is put on every unit of
labor, raw materials or services that are needed to accomplish a certain project. The estimated
number of units is then converted in monetary form to generate an overall cost estimate that will
be used by the organization (Ljungman, 2009). On the other hand, there is the bottom up budgeting
where every item is accounted for and the total determined to show the complete budget. The
variable cost is the approximation of the funds that are needed for elements whose actual budget
cannot be determined. As for the fixed costs, it is the actual value of every element (Murray,
2016). The budgeting method to be employed here is top down. This is where the overall budget
will be set and the funds then divided in accordance to every component.
Budget Table
Company Report 21
In order to understand the financial position of the firm, the management will need to develop a five
year financial budget analysis that will serve as a control tool. The budget will be developed as follows:
Exploration and
Production:
OCS Lease Bonus 250,400 287,960 331,154 380,827 437,951
Production 41,800 48,070 55,281 63,573 73,108
Drilling costs 32,400 37,260 42,849 49,276 56,668
Other:
Petro-chemicals 12,450 13,073 13,726 14,412 15,133
Crude and Products 4,500 4,725 4,961 5,209 5,470
Transportation costs 64,000 67,200 70,560 74,088 77,792
Refining and Marketing 2,600 2,730 2,867 3,010 3,160
Miscellaneous Costs 10,500 11,025 11,576 12,155 12,763
Total Cost 418,650 472,043 532,974 602,551 682,046
To evaluate the potential and viability of the project, the management of Amina Inc. will use the
following formulas:
Return on investment
The return on investment will give information pertaining to the viability of the project. Using
the sum of discounted cash flows for the project, the initial project will be weighted as follows:
The return on investment for the project is 119% surpassing the projections for the five year
period. The annual growth rate for the revenues is assumed to increase 15% of each year whereas
Payback period
Company Report 22
The payback period refers to a measure that is used to determine the length of period before a
project pays back the initial invested amounts. In the case of our project the payback period will
be found by executing the formula above: Net profit/initial amount. The payback period is found
to be 4.12 years from (2626308 / 1200000). This also confirms the viability of the project since
Break Even
The break-even point refers to a point where a project cash flow (the cash flows are as a result of
accumulation of contribution) is able to pay the fixed costs and the production of any extra unit
of output will lead to the project earning contribution. The Project break-even point will be the
point which the budgeted expenses will be met. Our project break-even point cannot be
quantifies in units because Amina Inc. produces bulky products in form of liquid form.
The assumptions arrived are that the project discounting rates are 1 which is ideal in our case. In
the case, the discounting rate changes, the cash flows projected would need to be discounted
before the different measures including break even, payback period and return on investment are
calculated.
Budgeting Benchmark
In order to ascertain the effectiveness of the project, the company management used budget
forecast from the company peers as well as the industry forecasts to appraise its budget. The
The budgets are expected to remain fairly unchanged thereby stregnthening the managements
forecasts on Amina Inc. Budget. The data from the four year period shows that the actual
spending is lower the forecasts made which bring the expected company spending to be lesser
than the stated amount by 10%. The forecasted change in budgets is expected to be less than 40%
as many oil companies expect the budgets to remain fairly constant over a 5 year period.
Company Report 24
1.8
ACTUA
ACTIVITY T N START N E
Identification of the
objectives 1 1 1 4 0%
Planning 1 2 3 6 0%
Financial Analysis 2 4 5 5 0%
Execution 4 4 9 6 0%
Monitoring 4 1 13 8 0%
Finish 4 2 14 6 0%
Company Report 25
Monitoring
Finishing
Company Report 26
The critical path depicts the way in which the process of the project will take place in a
systematic way. It has been depicted that the first activity will be a convention of the first
meeting that will entail the basic aspects of the project. The goals and objectives of the project
will then be identified which will be followed by planning and conducting a financial analysis.
Once all these have been established, the plan will then be executed or put into operation. It will
The project control shows the way in which the project will flow once it has been executed.
The elements to be taken note of are the monitoring, control, financial analysis and giving a
report or briefing. All these interrelate to bring up positive results in the entire project to be
undertaken.
1.8.5 Methodology
Company Report 28
Agile methodology will be used as it will avoid the traditional approaches that are usually
characterized by endless development cycles. Agile methodology will also enhance creativity in
the marketing project. This agile methodology will further be used together with the critical path
method as there are critical parts of the project that have to be accomplished, lest the project
implementation fails. Their interrelation will bring about the success of the entire project.
Communication Plan
n n
objectives and -
management Stakeholder
approach. s
Project Team Check progress - Face to Face Weekly - Project Project - Agenda
Company Report 29
- Project
Schedule
problems during
the
implementation
including - Project
activities, Schedule
progress, costs
and issues.
Various aspects have been explored and analyzed up to this point. With everything being
presented in a transparent manner, the next aspect will now be to determine how to close the
Company Report 30
project. This is one of the most crucial steps in project management. The deliverables will be
delivered. In this case, it will be the result that will be obtained once Amina Inc. embarks on
harnessing new technologies. There will be a formal sign-off from the firm on the deliverables
that have been delivered. Positive feedback will mean the project will be declared a success
(Berkun, 2015). Furthermore, an analysis of the product scope should also take place. This is
where there will be a review of the product range as it had been planned in the planning stage.
This is to ascertain whether it is up to the mark or requires some further modification. It is also
essential to ensure that the project is up to date with the current details in the industry or market.
As such, the main concentration will be on the administration of the project. It will, however, be
important to revise the schedule of the project, update the resources and plan and ensure that the
analysis of the budget and forecast is also up to date. The risk and issue logs should also be a
reflection of the current or previous changes that may have taken place in the project (Melton,
2014). It is also quite significant to be available during and after the initial transition. This may
not be possible in a physical manner but may be conducted by email or phone for at least the first
few weeks or even months. In this way, Amina Inc. will be assured that they can always consult
the organizers in case they have any questions or issues (Staff, 2011). The entire project should
also be viewed about a checklist. The checklist may entail risk and issue logs, resource plans,
financial reports and processes, the deliverables, schedule of the project and evaluation of the
staff and reports on performance that have been completed. The transition of a project should be
The project designed can be evaluated through the post implementation review. The project
will be evaluated to determine if it managed to highlight the effectiveness that will be obtained
by Amina Inc. once they harness new forms of technology. From the evaluation conducted, it is
also evident that there are bigger benefits that can be achieved from the decision to leverage new
technologies. The project will also assist to eliminate any future risks that the company may face
in the event of conducting operations. It is apparent that the project will also bring in huge
benefits to the firm in future. This is by reducing the costs of operation and ensuring there is
efficiency in the final output as well. All these aspects will be evaluated between one and six
months after the completion of the project. By this time, the deliverables of the project will have
been handed over to the consumers, and the mentioned benefits will also be quite clear.
Other aspects that will be evaluated in the post-implementation review program are to identify
whether the costs and benefits that had been estimated have been attained. The expected
consequence of harnessing new forms of technology will also be determined. As such, it may
significant information that will then be applied for improvement of the potential economic
study. It will further guide in informing the regulatory decisions. Due to this aspect, various
parties have undertaken measures to implement the review programs that are retrospective as
well. These are the regulators, government agencies, and the standard setters as well.
1.9.2 Conclusion
The project has analyzed various elements that are to be engaged in Amina Inc. Various
factors have also been explored that have an effect on the operations of the company. These are
such as the level of competition that they face in the market and the strategies that have been laid
Company Report 32
to counter the actions from their competitors. The firm has an adequate number of human
resources and thus, the project can be undertaken in an easy manner. Additionally, a risk analysis
has also been conducted in terms of the finances that have been depicted to be fluctuation of the
prices for oil and gas. There are also the political factors that have been pointed out as a potential
risk to the finances of the firm. The project has been well conducted and it has been depicted that
harnessing of technology in Amina Inc. will result to efficiency in operations. They will also
obtain a high level of income as a result of effectiveness in production and reduction in the
systematic manner to avoid other risks that may occur in relation to the output. The technology
may also result in the reduction of the number of staff and it is thus necessary to lay them off
strategically. In this way, they will avoid any actions from the workers such as strikes and go-
slows that may hamper the continuity of operations or slow down the process.
Company Report 33
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