Saudi Aramco recently embarked on an exciting initiative to implement new work processes to assess our readiness for, and to ensure the availability of an adequate workforce, materials and services to execute the Capital Programs identified in the 10 Year Investment Plan. The new work processes include five Portfolio Execution Planning (PXP) process steps:

Portfolio Characterization:

To determine the size and complexity of each project in the Capital Portfolio, having not performed a detail scope for capital projects in the 10 Year Investment Plan. We need to identify what level of types and subtypes (building blocks) for each project to develop a reasonable workforce, materials and services estimate which can reliably assess the availability of adequate resources and the readiness of the market to absorb the demand.
Workforce Estimate:

To estimate the company's internal workforce required to design, manage and execute the projects.
Materials & Services Estimate:

To estimate the materials and services needed to build the projects.
Portfolio Market Intelligence:

To perform a Market Outlook to identify company and market demand and available supply – and then peg the demand to the available supply and determine constraints, identify portfolio execution risks and capture opportunities for project synergies and opportunities for local content to support Saudi Arabia’s local economy.

One of the challenges is obtaining reliable (internal, external, local and global) data for 10 years ahead to analyze and facilitate an informative decision-making process.
Dynamic Portfolio Management:

To validate the actions for removing the constraints, mitigating the risks and capturing opportunities; and develop recommendations for implementing the actions.

To feedback corporate endorsed recommendations into the next 10 Year Investment Plan cycle.

To ensure alignment with the Value Assurance Review process, the recommendations produced by the forward-looking assessment of the capital program will be available to the Value Assurance Review Teams to action the recommendations during the FEL process by the individual projects. The challenge is in how to design and monitor this self-improving process.

Recent articles

LinkedIn Award Winner

We are delighted to announce that we have once again been recognized as one of the region’s most attractive companies to work for, as we have been named Best Employer Brand within the MENA region, at the recent LinkedIn 2017 Talent Awards Ceremony. The award has been bestowed on Saudi Aramco for the second consecutive year. 

read more
  • Corporate

Oil will play a key role in meeting future global energy demand

Saudi Aramco President and Chief Executive Officer Amin H. Nasser said that as the global oil market rebalances, the industry needs to avoid letting short term factors overshadow the need for long term investments.

Oil will play a key role in meeting future global energy demand despite scenarios of peak demand and stranded resources, which are misplaced, Nasser explained at the 18th International Oil Summit.

read more
  • Corporate
view all articles