Complications And Also Problems Of Decision Creating Refine In Schlumberger

Introduction

The oil and gas industry that provides the essential items and services needed by the international oil and gas industry to discover and explore transport of oil and natural gas at the refinery before delivering it to the end-user. Schlumberger is the largest oil producer in the world and one of the most recognizable service firms on the market since 1920 and in South America since 1929.

Decision making

It's a procedure to make or take important decisions for companies. The organization can use the process of decision making to determine the issue and suggest possibilities for solutions. Companies can utilize the step-by step decision making process to come to an informed and international decision.

Fundamental archetype for decision making

The process of decision-making begins by analyzing the nature of the problem following by the generation and analysis of potential options and ends with the choice of an alternative. It comprises five steps. Going here: FS D20 Dice for details.

Initial step: analyzing the problem's nature

Second stage: creation of possible solutions

Third stage: deciding among the possible solutions

Stage 4: Implementation of the decision

Stage five: Follow-up and monitoring

Participants in the process of making decisions

They are made up of employees from different departments. Their numbers vary from 5 to 8. This includes employees from different departments within the organization like the finance department management department legal department maintainer department of the safety department, etc. These groups are made like two members from Maintance one from finance, and the other from the legal department 1 from safety officer or safety advisor, and 2 from the management position.

Effective decision-making

Effective decision-making can be accomplished by identifying alternatives in addition to interpreting information about important events that can influence the efficiency of a business. The overall performance of an company is something to consider. If you are attempting to evaluate only the results of the products and results, you can underestimate the significance of how decisions are taken. This can impact the quality of the decisions made without taking into account all the impact on the all stakeholders.

Problems and challenges

It can be a difficult task managing large assets like facilities and make decisions within oil service firms. For industrial person decisions are made on the base of data from maintenance inputs and management plans, but when there are significant issues like facility decisions, they are generally related to costs mostly due to the absence of supporting data and historical documents. Managers look for the best solution without taking into account the external and internal constraints.

Example according to Schlumberger:

They were operating until the year 2015 when the drop in prices for oil led to a drop in operation. The expense of maintaining them also impacted financial gain. In light of the market situation Schlumberger accomplish in a clear and precise manner to justify the assets of large facilities and diminish its impact in order to reduce costs and expenses to increase financial profit.