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A Decision Support System for Evaluating Success Factors of Projects in the Oil and Gas Industry

Author

Listed:
  • Amir Homayoun Sarfaraz
  • Amir Karbassi Yazdi
  • Thomas Hanne
  • Raheleh Sadat Hosseini
  • Mohammad Reza Moradi Mazhari
  • Mijanur Rahaman Seikh

Abstract

Oil and gas (O&G) projects have a high social and economic impact in many countries. This study aims to identify the success factors in the O&G industry and to present a framework for evaluating the projects in an uncertain environment. In this study, 197 indicators are identified from a literature review and summarized to 34 indicators. Exploratory factor analysis (EFA) was performed, and seven main factors have been identified as success factors of O&G projects. Confirmatory factor analysis (CFA) confirmed the validity of the measurement model. A two-step fuzzy inference system is proposed to present an evaluation framework for assessing the performance of O&G projects. The hybrid framework was applied for the assessment of five Iranian O&G projects.

Suggested Citation

  • Amir Homayoun Sarfaraz & Amir Karbassi Yazdi & Thomas Hanne & Raheleh Sadat Hosseini & Mohammad Reza Moradi Mazhari & Mijanur Rahaman Seikh, 2022. "A Decision Support System for Evaluating Success Factors of Projects in the Oil and Gas Industry," Mathematical Problems in Engineering, Hindawi, vol. 2022, pages 1-18, November.
    • Handle: RePEc:hin:jnlmpe:6358562
    DOI: 10.1155/2022/6358562
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