Project Management in the Energy Industry-Comparing Two...

Introduction Throughout the 1970’s and 1980’s, utility industries struggled to manage their nuclear power plant construction prudently in the public eye. Throughout this era, litigation chastised the mismanaged organizations to the tune of billions of dollars. In this same era, Arab countries declared an oil embargo in the United States, oil prices soared and long lines at the gas pumps reflected the nation’s first fuel shortage since World War II. These events fast tracked the immediate need for an increase in alternative domestic energy sources here in the United States. The purpose of this analysis is to compare and contrast two projects in terms of Project Management, Quantitative Analysis and Economics while illustrating the†¦show more content†¦(Alyeska pipeline, 2010). Constructed between 1974 and 1976, these 800 miles of pipeline carried an $8 billion dollar price tag, the drilling facilities cost an additional $3 billion and completion of the project took a mere three years and two months. (Johnson, 2007). TAPS continues to perform successfully, is monitored to ensure safety and efficiency in an environmentally friendly manner. (Alyeska pipeline). Oil spill prevention, preparation and response cost the Alyeska Pipeline more than $60 million annually. (Trans Alaska Pipeline System). It is functioning 16 years beyond its intended lifecycle (Appendix B) with one-third of the oil throughput running on an â€Å"operate to failure† basis since 2007. (Reitz, 2011). Production is now approximately one third of what it was at its peak in 1989 and projected to decline about five percent per year. (Trans Alaska Pipeline System). Not only was the pipeline exceptionally well constructed, its earthquake standards received a test opportunity in 2002 when a 7.9 magnitude Denali Fault earthquake struck Alaska’s interior revealed the superior skills of the workforce. (Alyeska pipeline). The pipeline remained intact due to creative engineering performed and careful analysis of a potential earthquake decades prior. Economics of the Epoch Escalating costs played a major role in the diminishing number of power plants in the United States. (Cohen, 1990). Plants completed in the 1970’s carried an average price tag of $170Show MoreRelatedEffective Management And Effective Performance Measurements Essay1731 Words   |  7 PagesIntroduction Effective management and effective performance measurements have a very close relation with management and practice (Drucker 1995). The effect of the performance depends upon the usages of the management. The performance measures have meaning when they are compared. 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