The paper "Integrating Sustainable Project Management in the UAE Oil Companies for Improved Profitability" is an outstanding example of a management research proposal. Project management has been defined as the process by which an activity is planned, organized, motivated, and its resource, procedures and protocols controlled, to achieve specific goals (Berkun 2005; Kloppenborg 2014; Meredith, and Mantel, Jr 2011). A project is, therefore, a program that an entity designs to produce a unique service or commodity, with a defined period of time, and resource constraints (Bender 2009; Helderman 2011; Knap Pmp, and Knapp 2010).
Therefore, International Institute for Sustainable Development defines project sustainability as adopting activities and strategies that will meet the needs of the organization and those of stakeholders, while caring/ protecting, sustaining and enhancing natural and human resources, which may be needed in the future (Abramson, 2009; Rouse 2008). Otherwise, the International Institute for Sustainable Development has also proposed three Ps for sustainability that involves caring about People, Planet and Profit (Rouse 2008). It has been noted that oil and gas companies generate a large amount of methane gas that can cause severe harmful effects to the environment and therefore to the climate (Berkun 2005; Kloppenborg 2014; Meredith, and Mantel, Jr 2011).
Moreover, since the resources extracted themselves can be depleted, it is important that governments and international authorities, institute sustainable management procedures in the sector (Abramson, 2009). Recently, major oil companies like Shell and ExxonMobil have been caught in various scandals that involved large-scale spillage of the petroleum product, causing huge environmental adversities. In this regard, therefore, by taking a sample of 10 oil companies in the UAE the study will explore why and how they have been integrating sustainability programs.
The research will assess their 10-year period sustainability programs and their impacts on profitability. Literature Review Sustainability as a Strategic Area for Profitability Joel Makower, in his Strategies for Green Economy, has noted that if a company wants to succeed in the eyes of its customers and the community at large, its projects must espouse sustainability and therefore its strategies should be integrated in the way a business works (Project Management Institute 2014; Rouse 2008). Although it may seem not nice to adopt them because CEOs expect positive returns from them in the short run, they only do so because it is one of the strategic investment (Bender 2009; Helderman 2011; Knap Pmp, and Knapp 2010).
In this regard, although the management may not earn from it in its initial stage, it will enable the company to reap the true reward in the future (Local Government Association of NSW 2014; Rouse 2008). Customers are greatly becoming attracted to socially responsible projects. In this regard, in this competitive world, any organization not functioning very well may find itself struggling against competitors who are much stronger because of their passionate strategies of sustainable business (Berkun 2005; Kloppenborg 2014; Meredith, and Mantel, Jr 2011).
Sustainability in Oil corporations will provide management with tools to achieve in future (Project Management Institute 2014; Labuschagne, and Brent 2006). Most companies have indicated that sustainability has become part of the project design (Berkun 2005; Kloppenborg 2014; Meredith, and Mantel, Jr 2011). Although initially, project management had to do with engineering tasks, they have come to find their importance even in oil firms because environmental considerations are applicable across the board (Local Government Association of NSW 2014; Rouse 2008).
According to some of the CEOs who were interviewed, they note that the next generation of business will not just be valued on profit and loss alone, but on sustainability, which will have to play a bigger role in its analysis and valuation of success (Project Management Institute 2014; Labuschagne, and Brent 2006). This has already started happening, as it was realized when customers boycotted the Shell Company’ s products after a huge oil spill.
In this regard, next project managers will have to be encouraged to develop benchmarks of their strategic management so that they can ensure sustainability in their organization(Berkun 2005; Kloppenborg 2014; Meredith, and Mantel, Jr 2011). In general, financial performance is becoming much tagged to the level of sustainability (Local Government Association of NSW 2014).
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