Operation management - Dissertation Example

In order to achieve sustainable competitive advantage, the organization will have to set benchmark by comparing its operational management strategies with those of industry’s best it was found that management skills and competencies are as important as the technical competencies. It was also found that in order to successfully complete a project, management as well as leadership skills of a project manager is an essential trait. Contents Contents 3 Introduction 4 OrganizationBackground: 4 The Assignment Objective 4 Approach and Methodology 4 Literature Review 5 Application to the organization 8 Analysis and Conclusion 9 Recommendation 9 Potential costs and benefits 9 Timescales and Resources 10 Risks or potential barriers to implementation 11 Appendix 14 Introduction OrganizationBackground: Occidental Petroleum Corporation is an oil and gas exploration and production company.

It is an international company and it has two oil fields within Oman in both south and north areas. Oxy mukhaizna filed recorded high progress interm of production. In 2012 the gross daily oil production was 120,000 barrels per day which is 15 times higher than the production in 2005. There are some competitors companies in the same sector working in Oman such as Daleel petrolum, Petrogas, Oman Oil Company Exploration & Production and CCED. However, the Petroleum Development Oman (PDO) is the major competitor to OxyOman.

The Assignment Objective The objective if the assignment is to evaluate an operational management theory of Oxy Corporation and application of the theory to provide solutions for the specific issue. The report will help in evaluating the current trends and issues pertaining to operations management and what are the reliable strategies through which operational enhancement can be achieved. Approach and Methodology Aqualitative as well asd quantitative approach has been used for the completion of the project.

The report is an extensive application based review of the operational theory encompassing topics such as project management, quality management, skills and competency management and their various uses pertaining to oil and gas sector. The various sources used for getting information will include primary observations as well as secondary data from the company at study and extensive literature review of journals and articles. Some fundamental information about the organisation is as followed; Founded in the year 1920 (Oxy Corporation, 2013a).

International gas and oil production and gas exploration organisation. Operates in United States, Latin America and Middle East Region (Oxy Corporation, 2013b). Headquarters in Wilshire, Los Angeles. Literature Review Operational management is one of the critical aspects influencing the successful competitiveness of any service or manufacturing organisation. Multiple queries and organisational issues such as product choice, manufacturing technology, capacity utilization, quality maintenance and material sourcing and costing and customer management are associated with operational management theories.

Operational management can be defined as “a management systems in which several activities are performed to transform a set of inputs into a useful output using a transformation process” (Turner, 1999). Operational management of an organisation covers various aspects. Few of the important aspects include inventory management, supply chain and logistics management, facilities and