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INTERESTING FACT:

MELIOREM is a

Latin word which

can be translated as:

- improve or

- make (something not ideal or unsatisfactory) better

CLOUD-BASED

PROJECT MANAGEMENT

PLATFORM

that utilizes the GERT multivariate approach for project planning, budgeting, and control

CLOUD

BASED

MULTIVARIATE PLANNING

VARIANCE

CONTROL

BENEFIT FROM THE FLEXIBILITY

OF STOCHASTIC PLANNING

AND BUDGETING

AND DETERMINISTIC

PROJECT MANAGEMENT

AND CONTROL

MORE DETAILS

TAILORED FOR THE OIL & GAS INDUSTRY

OUR GERT SOLUTION

Dynamic GERT-based planning and execution

multivariate risk forecasting equips the team to better respond to risk
Makes it easy to maintain low process/product variance

Multi-dimensional network and baseline modelling

Accurate forecasts based on network and baseline modelling that considers risk probability and impact
Takes data from geological studies into account

Fact-based planning and control, as there is no place for guesswork

Analyzes existing data feeds for project planning and control
Utilizes most recent work performance data to dynamically manage cost, schedule, scope, and resources of a project

ABOUT

ABOUT GERT

GERT in a nutshell

Graphical Evaluation and Review Technique, commonly known as GERT, is a network analysis technique used in project management that allows probabilistic treatment of both network logic and estimation of activity durations.

It addresses the majority of the limitations associated with the PERT/CPM technique.

Since many real-world system problems do involve probabilistic occurrences, false-starts, activity repetition, and multiple outcomes, GERT is an ideal tool for modelling and analysis.

CURRENT APPROACH

CHALLENGES

All predecessor activities must be completed before an activity can be started
No activity can be repeated, if the rework is needed a change request is needed and the network must be replanned
The critical path is considered the longest path
Offers little to no chance to dynamically and regularly update project baselines

Limited time to duly account for risk probabilities and impact
Everchanging political and economic climate forces quick decisions
Deterministic planning and limited time result in significant cost, schedule, and scope variances

MORE ABOUT GERT

FEATURES

Multivariate, GERT-based network diagram and budget modelling
Provides on-demand GERT network variance modelling
MELIOREM7 generates and maintains a dynamic model of the project’s network diagram on an ongoing basis
Saves time with Work Breakdown Structure templates for every stage of the oil well lifecycle (exploration & drilling, development, operation, sealing)

ALL PRODUCT FEATURES

Features

BENEFITS

Optimize ongoing expenses
Enables optimal resource utilization, including material resources, human resources, and financial resources
Automates what-if analysis by running Monte Carlo simulations to determine all possible project scenarios
Improves the ability of the project team to anticipate and manage project variance and risk

ALL BENEFITS

Financial Impact of MELIOREM7

Based on a study of a typical oil company, which operates 10 oil fields with 40 wells each. Throughout the good lifecycle (exploration & drilling, development, operation, sealing) approximately 100 people work on each well, out of which 15% are the project management team.