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Projectcharter1a.docxRunning Head: PROJECT CHARTER 1
PROJECT CHARTER 2
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Project Management Charter
Project scope
The Halliburton Company is to drill 58 wells and deliver them on a turnkey basis to the Western Hemisphere operator in no more than 213 days.
Deliverables
The deliverables of a project refer to the expected results of a project at hand (Kerzner, 2018). The expected deliverable of the Halliburton Company is to honor its $684 million contract by drilling 58 wells in less than seven months for the purpose of helping the Western Hemisphere operator increase in its production of oil.
Risk and issues
Risk issues refer to the issues or challenges that may hamper the success of the project (Brioso, 2015). The challenges facing the Halliburton Company as far as handling the project include dealing with fields that have high depths as high as 23,000 feet, high pressure in the fields, high temperatures that are likely to affect the drilling process as well as the complex geologies of the fields. The project has a big risk of not being fruitful if the drilling process is not handled well and it would expose the Halliburton Company to unnecessary financial risks.
Assumptions and dependencies
Financials
The whole project is expected to cost roughly $684 million that is according to the contract between the Halliburton’s company and the Western Hemisphere operator.
Milestone schedules
In order to ensure that the project is completed as per the time deadlines, 8 wells will have to be completed per month and for that to happen, 2 wells will have to be drilled per week. For every week within the seven months project duration two wells will have to be drilled.
Project team
The project team refers to the people tasked with running the project until its completion (PMBoK, 2013). The success of the project lies in the hands of an integrated project management team. The integrated project management will enable the Halliburton’s project management team to drill the 58 wells that the operator needs. In order for the project to be successful, the project will be run by two project managers. One project manager will deal with the fields’ aspect of the project which happens to be a complex project by itself because of the different variables in place; hard conditions of the field and increase in production. The second project manager will deal with the drilling of the wells. The project management team will consist of an experienced project management team that includes; geophysicists and field assessors amongst others.
References
Brioso, X. (2015). Integrating ISO 21500 guidance on project management, lean construction, and PMBOK. Procedia Engineering, 123, 76-84.
Kerzner, H. (2018). Project management best practices: Achieving global excellence. John Wiley & Sons.
PMBoK, A. (2013). A guide to the project management body of knowledge (PMBOK guide). Project Management Institute, Inc.
