The Petroleum industry requires construction and maintenance of ‘upstream’ and ‘downstream’ facilities. Kuwait Oil Company is dealing with exploration and production of crude oil & natural gas. EPC projects plays an important role in generation of new physical facilities to maintain or enhance production. Project management has developed tremendously over time due to evolvement of numerous strategies to deal with construction activities. Schedule and Budget are the two major concerns required to be optimized during execution. Therefore, a very effective & efficient project management system is needed and has to be framed to deal with the major capital construction projects. In effect, help organization make impact on country's economy. The objective of this paper is to explore few successful in-house projects to find out what went well to identify and analyze key techniques employed to mitigate causes of delay in order to recommend strategic and innovative methods to realize maximum benefits by completing the project on time and within budget. This paper examines various project control methods covering project constraints for formulating strategies, planning, budgeting, procedures, processes, performance measurement, etc. contributing to the successes of acclaimed projects. The paper has provided advisory-notes on the real-time innovative methods for executing projects, which helps in making the projects more process oriented. The other critical factors, are the best practices to simplify project management techniques and making them more explicit. By applying these innovative approaches, most of the tacit knowledge that is used get converted into an explicit knowledge through proactive participation. The study has provided an insight in some novel innovative and strategic project management techniques leading to saving in time and cost by overcoming causes of delay and highlighting suitable measures to overcome bottlenecks during project life cycle. Some proven state-of-the-art approaches have been developed in-house by KOC to assure project performance and uphold the Company's reputation and corporate image. Deploying a combination of these methods as a minimum in project execution has shown very fruitful results, which in turn has helped KOC in achieving its strategic objectives.
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