Managing strategic resources in petroleum industry projects

Al-Hanshi, Moosa; Ojiako, Udechukwu; Williams, Terry

Abstract

This paper seeks to explore how strategic resources in petroleum industry projects are to be best managed and exploited in order to deliver enhanced project performance and sustained business competitiveness. Framed upon the Resource-Based View (‘RBV’) theory, these resources should be ‘Valuable’, ‘Inimitable’, ‘Rare’ and be able to draw on ‘Organisational support’ (‘VIRO’). Qualitative data were collected from petroleum industry organizations operating in the United Arab Emirates and the Sultanate of Oman between 2017 and 2019. The analysis shows that at the project level, ‘Value’ and ‘Organisational support’ attributes of resources were positively related to competitive advantage and both impacted by dynamic capabilities and innovative environment. However, the ‘Rareness’ and ‘Inimitability’ attributes showed less evolution. We also find that at the project level, the main characteristics of organizational resources were that they are ‘Valuable’, ‘Organizationally supported’, and that they could be ‘Uniquely exploited’ while being ‘Readily available’. The results suggest a desire by project-oriented organizations to replace the ‘Rareness’ and ‘Inimitability’ attributes within VIRO with two alternative attributes, namely ‘Unique exploitation’ and ‘Timely availability’ of resources.

Citation

Al-Hanshi, M., Ojiako, U., & Williams, T. (in press). Managing strategic resources in petroleum industry projects. Production planning & control, https://doi.org/10.1080/09537287.2020.1843081

• Journal Article Type: Article
• Acceptance Date: Oct 24, 2020
• Online Publication Date: Nov 3, 2020
• Deposit Date: Oct 26, 2020
• Publicly Available Date: Nov 4, 2021
• Journal: Production Planning and Control
• Print ISSN: 0953-7287
• Electronic ISSN: 1366-5871
• Publisher: Taylor and Francis
• Peer Reviewed: Peer Reviewed
• DOI: https://doi.org/10.1080/09537287.2020.1843081
• Keywords: Resource-based view; Projects; Project management; Strategic resources; Petroleum industry
• Public URL: https://hull-repository.worktribe.com/output/3648758
• Publisher URL: https://www.tandfonline.com/doi/full/10.1080/09537287.2020.1843081