Portfolio & Programme Management Assessment Answer

Introduction

Effective portfolio management is critical to success in the fiercely competitive upstream oil and gas sector. Achieving and preserving a competitive edge requires the effective use of resources, project prioritisation, and alignment with strategic objectives. In order to promote business growth and sustainability, SNEP Co, the Shell Nigeria Exploration and Production Company, which operates in this difficult industry, mainly depends on the efficient management of its project portfolio. The goal of this report is to evaluate the engineering department of SNEP Co's current portfolio management procedures and systems. Portfolio management is the engine that propels organisations to navigate a complex environment, make wise decisions, and optimise the value that projects and initiatives deliver. It is much more than just an operational requirement.

This report's goal is to provide a thorough assessment of the current systems by delving into the complexities of portfolio management within SNEP Co. Insights from academic literature, industry best practises, and the particular operating environment of SNEP Co will all be incorporated into this analysis. We aim to find areas where SNEP Co's practises and industry standards align and where they diverge by critically analysing the state of portfolio management today. This will open the door for significant suggestions meant to raise the efficacy and efficiency of SNEP Co's systems for managing its portfolio. In order to guarantee that these recommendations are implemented smoothly, the report will also include a change management plan. In the end, we want to enable SNEP Co's Engineering division to maximise its portfolio management systems and procedures, which will improve the division's capacity to meet strategic goals, grow the company, and maintain its leadership position in the upstream oil and gas sector.

Portfolio Management Principles and Best Practices

According to Enoch (2015), portfolio management best practises and principles are essential for maximising resource allocation and decision-making inside businesses. These guidelines stress that managing project portfolios requires an organised method that prioritises tasks according to business value, aligns with strategic goals and objectives, and regularly assesses project performance. Through a methodical framework based on Enoch's principles, organisations can optimise their project portfolios and make sure that every project advances the overall strategic vision. Organisations can more effectively navigate the complex demands of the oil and gas industry, where limited resources and competing demands call for a strict approach to portfolio management, by following these guidelines.

The accomplishments of companies in a variety of industries demonstrate the effective application of portfolio management principles. As an illustration, Moghaddam's 2010 study highlights the National Iranian Oil Company (NIOC), which improved the distribution of financial resources by applying portfolio management concepts in an efficient manner. The NIOC case study shows how portfolio management concepts can be modified to better suit the particular difficulties faced by the oil and gas industry, leading to better resource allocation and project success (Love and Matthews, 2019). This illustration shows how adaptable portfolio management concepts are and how they can promote effective resource allocation and decision-making, even in fields recognised for their complexity and unpredictability.

It is not industry-specific to apply portfolio management principles; rather, it is a general strategy that promotes improved decision-making and resource optimisation. Enoch's principles support continual assessment and modification in addition to project alignment with strategic goals. This adaptability has been demonstrated by businesses of all sizes—from multinational conglomerates to technology startups—through the successful implementation of these suggestions and the subsequent enhancement of project results. This demonstrates that Enoch's concepts are not only flexible but also scalable, rendering them an indispensable instrument for SNEP Co. to implement in order to efficiently oversee its portfolio of surface facility projects.

SNEP Co's Current Portfolio Management Systems

In order for SNEP Co., a major player in the upstream oil and gas industry, to efficiently oversee its surface facility projects, a comprehensive portfolio management system is indispensable. The purpose of the existing portfolio management system is to guarantee congruence with the strategic objectives of SNEP Co. This system encompasses aspects such as project selection, resource allocation, and performance monitoring. This strategy demonstrates SNEP Co's commitment to methodical project management in an industry renowned for capital-intensive, high-risk endeavours (Snep et al., 2020). To determine whether or not this system effectively supports the organization's strategic objectives, however, a comprehensive analysis of its operational mechanisms is necessary.

SNEP Co.'s existing portfolio management system possesses several benefits that contribute to its overall efficacy. The system is distinguished by its capability to prioritise projects based on their potential to generate significant business value, ensuring that resources are allocated to the projects that are most strategically important. This approach aligns with SNEP Co's objectives in a highly competitive market and conforms to established principles of portfolio management (Yokomatsu et al., 2022). As a result of these benefits, SNEP Co is more effectively positioned to efficiently allocate resources and successfully accomplish projects.

SNEP Co.'s portfolio management system, while possessing certain merits, is not without its limitations. One evident limitation is the restricted implementation of machine learning and data science in the context of project selection and performance monitoring. SNEP Co. may be unable to fully leverage the capabilities of its project portfolio during this critical period when decisions are increasingly dependent on data. Based on the findings of Tariq et al. (2021) regarding data science applications in the oil and gas sector, SNEP Co.'s existing system requires enhancement in this specific domain.

To ascertain the extent to which SNEP Co's portfolio management system conforms to industry best practises, an analysis must be performed. As suggested by Tariq et al. (2021), in order to optimise portfolio management, SNEP Co should consider the significance of data science applications in the oil and gas industry. An understanding of the system's ability to adjust to changing industry standards and technological breakthroughs will be gained from this alignment assessment. In the upstream oil and gas sector, SNEP Co. can maintain a competitive edge with its portfolio management system by rectifying identified weaknesses and ensuring adherence to established best practises.

Portfolio Governance Practices

Practises for portfolio governance are essential for making sure that projects inside an organisation are in line with its strategic goals. SNEP Co has developed a governance framework that covers project selection, monitoring, and decision-making in compliance with the Project Management Institute's (2016) recommendations. The engineering department of SNEP Co, where surface facilities projects necessitate close supervision, is one area where effective governance is especially important for handling the complexity of the organization's operations. In accordance with industry best practises, the governance framework promotes accountability and transparency in decision-making while ensuring that SNEP Co's project portfolio stays in line with its strategic vision.

The core of SNEP Co's operations is the efficacy of its governance mechanisms in the portfolio management system. The purpose of governance mechanisms is to facilitate risk management, establish project alignment with strategic objectives, and define clear roles and responsibilities in order to improve decision-making. In the oil and gas industry, misaligned projects, cost overruns, and delays can be especially expensive. These risks are reduced by effective governance. The efficiency of SNEP Co's governance mechanisms, which lower uncertainty and enhance decision-making, is a major factor in the organization's capacity to maintain a strong portfolio management system.

The performance and risk management of SNEP Co's portfolio are directly impacted by its governance practises. Ensuring projects are prioritised according to their strategic relevance, resource allocation is done efficiently, and the probability of project failure is decreased with rigid governance. This strategy is crucial in the upstream oil and gas industry due to the high capital requirements and high risk associated with these projects. Efficient portfolio governance practises enhance SNEP Co.'s ability to adapt to evolving market conditions, legal obligations, and emerging opportunities; concurrently, these practises improve project outcomes.

Data Science and Machine Learning Applications

As stated by Tariq et al. (2021), machine learning and data science have evolved into indispensable components for optimising portfolio management. By leveraging these technologies, organisations can acquire valuable insights from extensive datasets, enabling them to make more informed decisions regarding resource allocation and project selection. The oil and gas sector is distinguished by its dynamic and information-heavy atmosphere. In order to augment the capacity for making decisions, data science and machine learning provide invaluable instruments. The Engineering department of SNEP Co will be capable of utilising these technologies to analyse historical data, predict forthcoming trends, and optimise project portfolios in order to maximise value. This will ultimately result in more informed decision-making.

The oil and gas sector are home to a plethora of data science and machine learning applications. For example, big oil companies like Chevron and ExxonMobil have adopted machine learning algorithms to enhance reservoir management, optimise drilling procedures, and forecast equipment failures. These practical instances highlight the revolutionary potential of data science and machine learning in risk mitigation, cost reduction, and overall efficiency enhancement. The aforementioned applications highlight the flexibility of data-driven solutions in tackling industry-specific problems, indicating the possible advantages of integrating comparable technologies into SNEP Co's operations.

Although there are many benefits to integrating data science and machine learning into SNEP Co's operations, there may be particular advantages as well as difficulties. The advantages include better reservoir management, enhanced predictive maintenance of surface facilities, and increased safety via anomaly detection. Using these technologies supports SNEP Co's dedication to innovation and operational excellence and is in line with industry trends. The difficulty, though, is in guaranteeing data security, quality, and the acquisition of the required knowledge. Although integrating data across different departments and systems can be difficult, it can also lead to data-driven insights and well-informed decision-making, so these difficulties are worthwhile to overcome.

The Internet of Things (IoT) for Project Monitoring

Real-time data collection made possible by IoT allows for the ongoing monitoring of vital project parameters like safety metrics, environmental conditions, and equipment performance. In the oil and gas industry, where projects frequently take place in remote and difficult environments, IoT presents an affordable way to improve project management, guarantee safety compliance, and lower operational risks. According to Wanasinghe et al.'s (2020) research, the Internet of Things (IoT) has the potential to enhance project management in a complex industry where safety concerns are paramount.

It is essential to take into account the unique requirements and operational dynamics of SNEP Co's Engineering department in order to evaluate the applicability of IoT. The ability of IoT to provide real-time data from sensors and devices becomes highly relevant for monitoring equipment health and performance, especially considering the remote and offshore nature of many oil and gas projects. IoT can also improve predictive maintenance, which lowers maintenance costs and downtime. IoT can significantly improve the effectiveness and safety of SNEP Co's engineering department projects when used wisely, supporting the company's objective to optimise the return on its investments in the oil and gas industry. The advantages of IoT in project management will be further demonstrated by real-world examples and case studies, which will also reaffirm its applicability to SNEP Co's particular operational environment.

Gap Analysis

The analysis of SNEP Co's portfolio management systems has identified a number of significant weaknesses and possible areas for improvement. Despite the acknowledged advantages of these technologies in the industry, one of the main gaps found relates to the inadequate application of data science and machine learning for optimising project selection and resource allocation (Tariq et al., 2021). This gap is critical because, in the oil and gas industry, data-driven decision-making has emerged as a critical component of project success. SNEP Co should think about incorporating data science and machine learning into its portfolio management procedures to enable more accurate project prioritisation and performance evaluation in order to stay competitive and adaptable in the rapidly changing industry.

The analysis revealed that SNEP Co's project portfolio is not being optimally governed, which is another significant gap. Even though the Project Management Institute's (2016) guidelines emphasise the value of governance in portfolio management, the organisation seems to have room to improve its governance procedures. In addition to guaranteeing strategic alignment, good governance reduces project execution risks. SNEP Co can increase the likelihood of project success by improving portfolio governance practises, which will also help to better control project portfolios, ensure project alignment with strategic goals, and proactively address risks.

The integration of the Internet of Things (IoT) for project management and monitoring represents a third area that could benefit from enhancement. Despite IoT's increasing significance in the oil and gas sector, the analysis revealed that SNEP Co has not yet fully capitalised on its potential (Wanasinghe et al., 2020). By enabling real-time data collection and analysis and encouraging proactive decision-making, the integration of IoT technologies can greatly improve project monitoring. SNEP Co can enhance operational efficiency and project outcomes by adopting IoT to streamline project monitoring and management.

The gap analysis concludes by highlighting how important it is to match SNEP Co's portfolio management systems with emerging technologies and industry best practises. SNEP Co can better position itself for increased competitiveness, more effective resource allocation, and project execution success by filling in the gaps that have been found. The results of the gap analysis, along with data from operations and the literature, serve as the basis for the recommendations that will be discussed in the next section regarding the improvement of SNEP Co's portfolio management systems. These suggestions will work to close the gaps that have been found and create an atmosphere that will enable SNEP Co to successfully coordinate its portfolio management procedures with strategic objectives and the dynamic upstream oil and gas sector.

Recommendations for Improvement

Based on the comprehensive gap analysis, several recommendations are made to improve SNEP Co's future-state portfolio management systems, which include both short-term and long-term goals. Establishing a centralised portfolio management office (PMO) should be SNEP Co's top priority in the near future in order to streamline decision-making, increase visibility between projects, and ensure consistency in project selection and execution. This requires the establishment of a dedicated PMO team and the provision of financial resources to operate it. The creation of a PMO satisfies the urgent requirement to optimise resource allocation and project selection, ensuring that endeavours align with overarching strategic objectives while mitigating redundancy and inefficiency in resource utilisation (Ochieng et al., 2020). The immediate emphasis of a PMO lays the groundwork for sustained achievement by providing a structured framework for transparency and decision-making. It is an essential step in ingraining portfolio management values into the culture of SNEP Co.

To enhance resource allocation and decision-making, SNEP Co. should contemplate the integration of machine learning and data science methodologies into its portfolio management systems over an extended period of time. Additionally, a change management strategy is required to ensure that the implementation of these suggestions is run smoothly. Utilising data science and machine learning techniques can enhance the predictive power of portfolio management, enabling SNEP Co. to more effectively anticipate obstacles, allocate resources optimally, and adapt to changing market conditions (Laaksonen et al., 2021). This long-term plan is in line with market developments and could give the oil and gas industry a major competitive edge. To guarantee the successful adoption of these transformative initiatives, a thorough change management plan under the leadership of committed change champions is essential. It entails establishing training programmes, outlining roles and responsibilities, and offering continuing assistance to staff members in order to facilitate a seamless transfer to the portfolio management systems of the future.

Change Management Plan

A thorough change management strategy is required to put the recommendations for improving SNEP Co's portfolio management systems into practise. The identification of important stakeholders, such as project managers, executives, IT teams, and outside consultants with domain knowledge, is the first stage in this plan. In order to guarantee ownership and buy-in for the changes, stakeholders must be involved. IT teams will oversee the integration of data science and Internet of Things technologies, executives will promote the strategic alignment component, and project managers will play a key role in the implementation of portfolio tracking systems (Mansaray, 2019). By encouraging teamwork and utilising the variety of expertise present within the company, this inclusive approach unites teams around the shared objective of optimising portfolio management.

A well-organized schedule for the suggested changes is also necessary for the effective implementation of the change management plan. A smooth transition will be ensured by classifying changes into short- and long-term objectives. While long-term objectives will centre on the application of data science and Internet of Things technologies, short-term objectives might involve making quick adjustments to project prioritisation. SNEP Co can accomplish quick wins and show the advantages of the changes early in the process thanks to this phased approach (Wanasinghe et al., 2020). Additionally, it lessens interference with ongoing operations and projects. The organisation can also allocate resources more effectively thanks to this tiered approach, which also gives it the flexibility to handle any unforeseen obstacles or changes in priorities that may come up during implementation.

Conclusion

The upstream oil and gas industry is fiercely competitive, making effective portfolio management essential. Operating in this demanding industry, SNEP Co., the Shell Nigeria Exploration and Production Company, depends on effective portfolio management to guarantee business expansion and sustainability. To optimise resource allocation, project prioritisation, and alignment with strategic objectives, this report assessed the engineering department's current portfolio management systems and procedures at SNEP Co. The portfolio management systems of SNEP Co. were analysed to find areas where they aligned with industry best practises and gaps that needed to be filled. By closing these gaps, SNEP Co. will be in a better position to sustain its leadership in the upstream oil and gas industry through improved competitiveness, more effective resource allocation, and successful project execution.

The scalability and universality of Enoch's principles are highlighted in in-depth talks on portfolio management best practises, which are illustrated by these principles' successful applications in companies such as the National Iranian Oil Company. With the potential to significantly improve project outcomes and resource utilisation, they provide a strong framework that enables organisations to prioritise projects based on business value, align them with strategic objectives, and continuously evaluate their performance.

The report's change management plan, which offers a phased approach to change and fosters collaboration among key stakeholders, guarantees the successful implementation of recommendations. In the ever-evolving oil and gas sector, SNEP Co. is securing its place as a progressive and competitive player by embracing data science, machine learning, and IoT technologies and improving governance practises as it sets out to improve its portfolio management systems. With the help of this report, SNEP Co's Engineering division will be better equipped to meet strategic objectives, optimise portfolio management systems, spur business expansion, and hold its position as the industry leader in the upstream oil and gas sector.

References

Association for project management (2016). APM Introduction to Programme Management . Available at: https://www.apm.org.uk/media/31160/apm-introduction-to-programme-management-no-print.pdf [Accessed 16 Oct. 2023].

Enoch, C. (2015). Project Portfolio Management A Model for Improved Decision Making Portfolio and Project Management Collection . Available at: http://projanco.com/Library/Project%20portfolio%20management.pdf [Accessed 16 Oct. 2023].

Knapp, M. (2018). Enterprise Portfolio Governance Framework . Management for Professionals , pp.281–310. doi: https://doi.org/10.1007/978-981-10-7838-5_8.

Laaksonen, H., Khajeh, H., Parthasarathy, C., Shafie-khah, M. and Hatziargyriou, N. (2021). Towards flexible distribution systems: Future adaptive management schemes. Applied Sciences , 11(8), p.3709. https://doi.org/10.3390/app11083709

Love, P.E.D. and Matthews, J. (2019). The ‘how’ of benefits management for digital technology: From engineering to asset management. Automation in Construction , [online] 107, p.102930. doi: https://doi.org/10.1016/j.autcon.2019.102930.

Mansaray, H.E. (2019). The Role of Leadership Style in Organisational Change Management: A Literature Review. Journal of Human Resource Management , 7(1), pp.18–31. doi: https://doi.org/10.11648/j.jhrm.20190701.13.

Martinelli, R.J., Waddell, J.M. and Rahschulte, T.J. (2014). Program Management for Improved Business Results . Second edition ed. Wiley.com . Wiley. Available at: https://www.wiley.com/en-us/Program+Management+for+Improved+Business+Results%2C+2nd+Edition-p-9781118905876 [Accessed 16 Oct. 2023].

Moghaddam, M. (2010). Portfolio management as a new approach on improvement of financial resources’ allocation: A case study of the National Iranian Oil Company (NIOC). African Journal of Business Management , 4(13), pp.3013–3025. Available at: https://academicjournals.org/article/article1380728417_Moghaddam.pdf [Accessed 16 Oct. 2023].

Ochieng, E., Zuofa, T. and Badi, S. eds. (2020). Routledge handbook of planning and management of global strategic infrastructure projects . UK: Routledge.

Project Management Institute (2016). Governance of Portfolios, Programs, and Projects: A Practice Guide . Google Books . Project Management Institute. Available at: https://books.google.co.in/books/about/Governance_of_Portfolios_Programs_and_Pr.html?id=ud-uDgAAQBAJ&redir_esc=y [Accessed 16 Oct. 2023].

Snep, R.P., Voeten, J.G., Mol, G. and Van Hattum, T. (2020). Nature Based Solutions for Urban Resilience: A Distinction Between No-Tech, Low-Tech and High-Tech Solutions. Frontiers in Environmental Science , 8. doi: https://doi.org/10.3389/fenvs.2020.599060.

Tariq, Z., Aljawad, M.S., Hasan, A., Murtaza, M., Mohammed, E., El-Husseiny, A., Alarifi, S.A., Mahmoud, M. and Abdulraheem, A. (2021). A systematic review of data science and machine learning applications to the oil and gas industry. Journal of Petroleum Exploration and Production Technology , 11(12), pp.4339–4374. doi: https://doi.org/10.1007/s13202-021-01302-2.

Wanasinghe, T.R., Gosine, R.G., James, L.A., Mann, G.K.I., Silva, O. de and Warrian, P.J. (2020). The Internet of Things in the Oil and Gas Industry: A Systematic Review. IEEE Internet of Things Journal , 7(9). doi: https://doi.org/10.1109/jiot.2020.2995617.

Wanasinghe, T.R., Wroblewski, L., Petersen, B.K., Gosine, R.G., James, L.A., De Silva, O., Mann, G.K.I. and Warrian, P.J. (2020). Digital Twin for the Oil and Gas Industry: Overview, Research Trends, Opportunities, and Challenges. IEEE Access , 8, pp.104175–104197. doi: https://doi.org/10.1109/access.2020.2998723.

Yokomatsu, M., Mochizuki, J., Joseph, J., Burek, P. and Kahil, T. (2022). Macroeconomic co-benefits of DRR investment: assessment using the Dynamic Model of Multi-hazard Mitigation CoBenefits (DYNAMMICs) model. Disaster Prevention and Management: An International Journal . doi:https://doi.org/10.1108/dpm-07-2022-0154.

Enoch, C. (2015). Project Portfolio Management A Model for Improved Decision-Making Portfolio and Project Management Collection.

In this article, Enoch makes the case for the value of project portfolio management as a framework for better organisational decision-making. The author stresses that managing a portfolio of projects requires an organised approach that can improve resource allocation, risk management, and project execution in the end.

The article's strength is its thorough examination of the subject, which offers insightful information about the useful applications of project portfolio management. It does not, however, go into great detail about the difficulties and possible fixes in putting such a system into place.

This article offers a theoretical framework that can be used to assess SNEP Co's current programme and portfolio management system, making it pertinent to our research on the engineering department at the company. It provides a viewpoint that might point out areas where SNEP Co's present procedures need to be improved.

Project Management Institute (2016). Governance of Portfolios, Programs, and Projects: A Practice Guide . Google Books . Project Management Institute.

The Project Management Institute's handbook makes the case that effective governance is crucial to the management of programmes, projects, and portfolios. The authors claim that better decision-making, resource allocation, risk management, and project execution can result from good governance.

This guide's strength is its thorough treatment of the subject, which offers a thorough framework for governance in project management. It might, however, lack case studies or real-world examples that show how these ideas are applied in actual situations.

This guide offers a theoretical framework for assessing the governance component of SNEP Co's present portfolio management systems and procedures, making it extremely pertinent to our research on the engineering department. It provides information that might be used to pinpoint possible areas where SNEP Co's governance procedures could be strengthened.

Knapp, M. (2018). Enterprise Portfolio Governance Framework . Management for Professionals , pp.281–310.

Knapp addresses the idea of an enterprise portfolio governance framework in this chapter. According to the author, an organization's ability to allocate resources and make decisions effectively depends on having a framework in place.

This work is strong because it explores the subject in great detail and offers a thorough framework for enterprise portfolio governance. On the other hand, it might not have enough case studies or real-world examples to show how these ideas are applied.

Since it offers a theoretical framework for assessing the governance component of SNEP Co's current portfolio management systems and procedures, this chapter is extremely pertinent to the research on the engineering department of the company. It provides information that might be used to pinpoint possible areas where SNEP Co's governance procedures could be strengthened.

Association for project management (2016). APM Introduction to Programme Management.

The concept of Programme Management is introduced in the Association for Project Management guide. The authors contend that attaining strategic goals and benefiting an organisation depends on efficient programme management.

This guide's strength lies in its thorough coverage of the subject, which offers a thorough framework for managing programmes. It might, however, be devoid of case studies or real-world examples that show how these ideas are applied in actual situations.

This handbook offers a theoretical framework for assessing the current portfolio management systems and procedures used by SNEP Co, which makes it extremely pertinent to our research on the engineering department. It provides information that might be used to pinpoint possible areas where SNEP Co's programme management procedures could be strengthened.

Martinelli, R.J., Waddell, J.M. and Rahschulte, T.J. (2014). Program Management for Improved Business Results. Second edition ed. [online] Wiley.com. Wiley.

The writers of this book contend that better programme management is essential to obtaining better business outcomes. They offer a thorough framework for programme management, highlighting its significance in the formulation and implementation of strategic plans.

This work's strength is its thorough examination of the subject, which offers useful tips and approaches for efficient programme management. It might not, however, address the difficulties and possible fixes in putting such a system into practise in various organisational contexts.

This book offers a theoretical framework for assessing the current portfolio management systems and procedures used by SNEP Co, which makes it extremely relevant to our research on the engineering department. It provides information that might be used to pinpoint possible areas where SNEP Co's programme management procedures could be strengthened.

Moghaddam, M. (2010). Portfolio management as a new approach on improvement of financial resources’ allocation: A case study of the National Iranian Oil Company (NIOC). African Journal of Business Management, [online] 4(13), pp.3013–3025.

Moghaddam uses the National Iranian Oil Company (NIOC) as a case study in this piece to support portfolio management as a novel strategy for better financial resource allocation. The author stresses that managing a portfolio of projects requires an organised approach that can result in better resource allocation and, eventually, successful project execution.

The thorough examination of the subject matter, which offers useful tips and techniques for efficient portfolio management, is the work's strongest point. Nevertheless, a discussion of the difficulties and possible solutions in putting such a system into practise in various organisational contexts might be lacking.

Since it offers a theoretical framework for assessing SNEP Co's current portfolio management systems and procedures, this article is extremely pertinent to our research on the engineering department of the company. It provides information that might be used to pinpoint possible areas where SNEP Co's portfolio management procedures could be strengthened.

Tariq, Z., Aljawad, M.S., Hasan, A., Murtaza, M., Mohammed, E., El-Husseiny, A., Alarifi, S.A., Mahmoud, M. and Abdulraheem, A. (2021). A systematic review of data science and machine learning applications to the oil and gas industry. Journal of Petroleum Exploration and Production Technology, 11(12), pp.4339–4374.

The authors of this paper present a thorough analysis of machine learning and data science applications in the oil and gas sector. They contend that a number of aspects of the business, including portfolio management, can be greatly enhanced by these technologies.

This work's strength is its thorough analysis of the subject, which includes a thorough synopsis of current applications and possible directions for future research. It might not, however, address the real-world difficulties and potential fixes in applying these technologies in various organisational settings.

This article offers insights into how data science and machine learning can be used to enhance SNEP Co's current portfolio management systems and procedures, which makes it extremely relevant to our research on the engineering department. It provides a viewpoint that might be useful in locating possible opportunities for innovation and enhancement in SNEP Co's procedures.

Wanasinghe, T.R., Gosine, R.G., James, L.A., Mann, G.K.I., Silva, O. de and Warrian, P.J. (2020). The Internet of Things in the Oil and Gas Industry: A Systematic Review. IEEE Internet of Things Journal, 7(9), Doi: https://doi.org/10.1109/jiot.2020.2995617 .

The authors of this paper present a thorough analysis of how the Internet of Things (IoT) is being used in the oil and gas sector. They contend that the industry can greatly benefit from IoT technologies in a number of areas, including portfolio management.

This work's strength is its thorough examination of the subject, which offers a thorough rundown of existing applications and possible directions for future research. It might not, however, address the real-world difficulties and potential fixes in applying these technologies in various organisational contexts.

This article offers insights into how IoT can be used to enhance SNEP Co's current portfolio management systems and processes, which makes it extremely relevant to our research on the engineering department. It provides a viewpoint that might be useful in locating possible opportunities for innovation and enhancement in SNEP Co's procedures.

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