Identification of success clusters using principal component analysis for oil and gas industry

Abstract

Project success factors are key elements that contribute to the successful completion of any mega project. As project success factors vary from one industry to another, it is essential to tailor the success factors specific to a particular industry type. The oil and gas industry-specific success factors provide information to investing agencies of the steps to be undertaken to make the project a success. These success factors for the complete life cycle of the project offers a unique opportunity to the management in planning manpower and resources to meet the desired objectives. This study identifies 66 success factors for large oil and gas projects. A questionnaire survey was carried out to establish the most important factors or critical success factors/success clusters. One hundred forty-two responses were received from various stakeholders. Principal component analysis (PCA) was carried out to identify the clusters of success factors. This study recommends that for successful project implementation of a mega project, stakeholders should strive to focus on the eight key clusters identified by PCA. These eight key clusters may be utilized in similar mega projects such as chemical process industry, mining and metallurgical process industry and mega infrastructure projects.