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

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