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An Assessment of Benchmarking Practice Relating to Complex Engineering Assets: A Case Study from an Oil and Gas Production Company

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Proceedings of the 7th World Congress on Engineering Asset Management (WCEAM 2012)

Part of the book series: Lecture Notes in Mechanical Engineering ((LNME))

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Abstract

Companies are continuously striving for world-class performance by use of various performance management tools and techniques. One such popular technique, proving effective in achieving best-in-class results, is benchmarking. A case study of an oil and gas production company, aiming to drive business performance based on best practice-based learning rather than compliance, shows how benchmarking can be effectively implemented to maintain continuous improvement. Benchmarking practice is assessed across a variety of different departments affecting operations, giving an insight into the diversity and complexities of implementing the practice yet paying attention on learning opportunities, while maintaining focus on the ultimate goal of achieving world-class performance.

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Notes

  1. 1.

    Value chain processes are the processes related to the company’s core business whereas support processes are support functions for the value chain processes.

References

  1. Anand G, Kodali R (2008) Benchmarking the benchmarking models. Benchmarking: Int J 15(3):257–291 (online Emerald Insight)

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  3. El-Wardani R, Liyanage JP (2012) Creating a learning and improvement scenario based on distinctive internal benchmarking practices and cultures: an adaptive strategy based on experience from an oil and gas production company. The University of Stavanger, Stavanger, Norway

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  4. Fong SW, Cheng EWL, Ho DCK (1998) Benchmarking: a general reading for management practitioners. Manag Decis 36(6):407–418

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Author information

Authors and Affiliations

  1. Centre for Industrial Asset Management (CIAM), Rennebergstien 30, 4021, Stavanger, Norway

    Riad El-Wardani & Jayantha Prasanna Liyanage

Authors
  1. Riad El-Wardani
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  2. Jayantha Prasanna Liyanage
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Corresponding author

Correspondence to Riad El-Wardani .

Editor information

Editors and Affiliations

  1. World Congress on Engineering Asset Management, Seoul, Korea, Republic of (South Korea)

    Woo Bang Lee

  2. World Congress on Engineering Asset Management, Gyeongnam, Korea, Republic of (South Korea)

    Byeongkuen Choi

  3. Queensland University of Technology, Graceville, Queensland, Australia

    Lin Ma

  4. Queensland University of Technology, Sunnybank Hills, Queensland, Australia

    Joseph Mathew

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© 2015 Springer International Publishing Switzerland

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El-Wardani, R., Liyanage, J.P. (2015). An Assessment of Benchmarking Practice Relating to Complex Engineering Assets: A Case Study from an Oil and Gas Production Company. In: Lee, W., Choi, B., Ma, L., Mathew, J. (eds) Proceedings of the 7th World Congress on Engineering Asset Management (WCEAM 2012). Lecture Notes in Mechanical Engineering. Springer, Cham. https://doi.org/10.1007/978-3-319-06966-1_20

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  • DOI: https://doi.org/10.1007/978-3-319-06966-1_20

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-02461-5

  • Online ISBN: 978-3-319-06966-1

  • eBook Packages: EngineeringEngineering (R0)

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