Research project
Benchmarking to reduce budget uncertainty & actual cost, and increase learning from Oil & Gas
- Start date: 1 February 2021
- End date: 1 August 2024
- Funder: NDA/NNL
- Value: £91,000
- Partners and collaborators: Dr Diletta Colette Invernnizzi - Jacob
- Primary investigator: 01001443
- Co-investigators: 01056712
- Postgraduate students: Joseph Watton
Benchmarking is an ideal way of investigating projects, as it promotes the identification of best practices in order to ultimately improve a project's performance. We will deliver a methodology based on benchmarking able to - improve cost estimations (reduction of the difference between budget cost and actual cost) - foster reduction of actual cost - sharing learnings from large infrastructure projects/megaprojects as well as literature/experience to reduce cost, time and increase benefits The methodology will be implemented to also achieve salient results that relevant stakeholders can use in the short term.