PROJECT RISK AVOIDANCE AND PROJECT EXECUTION IN NIGERIA OIL AND GAS INDUSTRY [PENGHINDARAN RISIKO PROYEK DAN PELAKSANAAN PROYEK DI INDUSTRI MINYAK DAN GAS di NIGERIA]

Ike Egboga, Gift Worlu

Abstract


This study sought to examine the relationship between project risk avoidance and project execution in the Nigerian oil and gas industry. Specifically, the study examined the relationship between project risk avoidance and four components of project execution (budget, quality, schedule and scope) among 51 oil and gas companies operating in Rivers State, Nigeria. To achieve this objective, 102 managing executives were given questionnaires, with 82 questionnaires correctly filled and returned. Data obtained were analysed using mean scores and Spearman’s rank order correlation analysis. The study found that projects risk avoidance was positively and significantly related to all four components of project execution. The main implication of this finding is that oil and gas companies need to invest heavily in innovative technologies and processes that will enhance their ability to avoid risk, thus improving the quality of projects they execute.

 

Abstrak dalam Bahasa Indonesia.Studi ini berusaha untuk menguji hubungan antara proyek penghindaran risiko dan eksekusi proyek di industri minyak dan gas Nigeria. Secara spesifik, studi tersebut meneliti hubungan antara proyek penghindaran risiko dan empat komponen eksekusi proyek (anggaran, kualitas, jadwal dan ruang lingkup) di antara 51 perusahaan minyak dan gas yang beroperasi di Negara Bagian Rivers, Nigeria. Untuk mencapai tujuan ini, 102 eksekutif pelaksana diberikan kuesioner, dengan 82 kuesioner diisi dan dikembalikan dengan benar. Data yang diperoleh dianalisis menggunakan skor rata-rata dan analisis korelasi urutan peringkat Spearman. Studi tersebut menemukan bahwa penghindaran risiko proyek berhubungan positif dan signifikan dengan keempat komponen pelaksanaan proyek. Implikasi utama dari temuan ini adalah bahwa perusahaan minyak dan gas perlu berinvestasi besar-besaran dalam teknologi dan proses inovatif yang akan meningkatkan kemampuan mereka untuk menghindari risiko, sehingga meningkatkan kualitas proyek yang mereka jalankan.


Keywords


project risk avoidance; project execution; budget; quality; scope; schedule



DOI: http://dx.doi.org/10.19166/derema.v15i2.2581

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