Petrotechnics releases the results of its Operational Excellence Index regarding attitudes toward operational excellence among the oil, gas and petrochemical industries. The Index shows operational excellence is regarded as a key priority for the majority of organizations, according to Petrotechnics.
Achieving operational excellence has reportedly become more important to most organizations over the past two years. One third of respondents (33%) say that it has become more or very important to everyone in their organization, while 47% say that it has become more or very important to some people in their organization. Only 10% say nothing has changed over the past two years, while 5% believe it has become less important, according to Petrotechnics.
The importance of operational excellence is also seen by those sponsoring it within a business, according to Petrotechnics. Nearly half (46%) of respondents say that achieving operational excellence is sponsored at a corporate level by members of the board. Nearly one third (31%) say that everyone within the organization is responsible, while 18% say that it lies with a specific operational excellence function.
When it comes to the drivers for achieving operational excellence, 63% cite the need to achieve greater cost efficiencies and reduce operational and major accident risk, according to Petrotechnics. The next most popular drivers are optimizing maintenance programs and influencing cultural and behavioral change (56%).
When ranked by importance, the need to reduce operational and major accident risk tops the list followed by developing a more systematic approach to operational excellence (a better operating model). Achieving greater cost efficiencies is the third most important driver, while influencing cultural and behavioral change is fourth, according to Petrotechnics.
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