Cost, Schedule, and Safety Risk Management in Offshore Oil and Gas Capital Projects: An Integrative Review of Project Controls and Engineering Decision Frameworks

@article{1724115,
      author = {Susan Ochi Makut, Adedoyin Oluwatoyin Olutimehin, Adeshola Oladunni Bankole, Francis Ojeakhena, Henry Chukwuemeka Olisakwe},
      title = {Cost, Schedule, and Safety Risk Management in Offshore Oil and Gas Capital Projects: An Integrative Review of Project Controls and Engineering Decision Frameworks},
      journal = {Iconic Research And Engineering Journals},
      year = {2022},
      volume = {5},
      number = {10},
      pages = {441-482},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1724115.pdf},
      abstract = {Offshore oil and gas capital projects must deliver cost, schedule and safety performance together, yet the research behind each objective has developed separately. This integrative review synthesizes 415 peer-reviewed journal and conference articles published between 1984 and 2022 on cost and schedule performance, project governance and decision frameworks, safety risk management in project execution, and digital and sustainability enablers of project controls. Records were identified through publisher platforms, scholarly search and reference-list chaining and coded by domain, sector, method and cross-domain integration. The evidence base is dominated by governance and decision frameworks (168 studies) and safety risk management (138), followed by digital and sustainability enablers (78) and cost and schedule performance (31). Only 47 studies, 11.3 percent, address oil, gas or offshore projects directly, and none of the digital studies do so. Only 14 studies, 3.4 percent, connect two or more of cost, schedule and safety in a single analysis, and most of these concern the cost of accidents or the effect of production pressure on safety. The review finds consistent evidence that optimism bias, weak front-end governance and contractual misalignment drive overruns, and that schedule pressure and contractor arrangements shape safety outcomes, but little evidence on how these mechanisms interact. An integrative framework linking governance gates, a shared risk model and a common data layer is proposed, with a research agenda for offshore projects.},
      keywords = {offshore capital projects; project controls; cost overrun; safety climate; leading indicators; project governance; integrative review},
      month = {April},
      doi = {https://doi.org/10.64388/IREV5I10-1724115}
  }