Energy execs: Most projects blow past their budgets

[unhappycamper]

http://blog.mysanantonio.com/eagle-ford-fix/2015/02/energy-execs-most-projects-blow-past-their-budgets/

Energy execs: Most projects blow past their budgets
Posted on February 17, 2015 | By Jennifer Hiller
Via Ryan Holeywell, FuelFix:

HOUSTON — Most energy industry executives say their projects fail to come in on-budget, according to a new survey compiled by consulting firm AlixPartners.

~snip~

“Strong energy prices in recent years have allowed companies to delay putting an emphasis on project management, as they focused instead on the urgent need of achieving greater throughput” said Dennis Cassidy, managing director at AlixPartners, in a statement. “But that was then and this is now.”

His company’s findings were based on a survey of 250 executives from the oil, gas and chemicals sectors, most of which generate at least $1 billion in annual revenue.

The survey found that just 29 percent of respondents — including 19 percent of North American firms — said their companies finish projects within their budget.

[FBaggins]

1. Energy companies are hardly unique in this regard

nor even just construction projects.