Unit 1 Discussion.docx - What is the background of this project That is why is it being done and what are the key players expectations This project is

Unit 1 Discussion.docx - What is the background of this...

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What is the background of this project? That is, why is it being done and what are the key player’s expectations? This project is focused on the oil and gas industry, specifically for an engineering consulting firm known as Hopkins & Associates, which seeks to create and increase its competitive advantage by creating a software that will enable its petroleum engineers to enhance their ability to identify and evaluate the potential yield of oil and gas in particular areas around the world. This project is being done because the richness of oil and gas reserves is very important to companies within the oil and gas industry. Oil and gas reserves are critical to the oil and gas companies because it can impact its economic health. The level of gas and oil reserves can cause fluctuations in stock prices as well as a firm’s eligibility of acquiring new loans or financing. Therefore, it is extremely important for the petroleum engineers of Hopkins and Associates to meet expectations by accurately estimating the rate of production of an oil and gas reserve and the point in time in which its producing capabilities will eventually halt.Who are the stakeholders for this project?The stakeholders of this project include the senior management team, the board of directors, and the entire engineering staff at Hopkins and Associates. Even though the main project management team only consists of “Hop,” Ken Summers, David
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