Towards a value‐based view on operations and maintenance performance management

Most of the North Sea oil companies have recognized the need to adjust their management processes, including those concerned with operations and maintenance, to the changed and changing business conditions in industry at large, particularly due to the volatile oil price. This has been a rationale to review organizational operations and maintenance policies by many. This paper describes findings from a research study on operations and maintenance performance conducted in the emerging operating environment with close cooperation of leading oil and gas organizations in the Norwegian continental shelf. An attempt has been made to develop an architecture for effective management of operations and maintenance performance linking results to performance drivers. This has further been extended to apply the balanced scorecard concept. The papers emphasize on the value rather than the cost of operations and maintenance in the emerging business environment, and stresses that there is a need to move from a plant‐based policy to a more or less long‐term business‐oriented approach.