An Assessment of Benchmarking Practice Relating to Complex Engineering Assets: A Case Study from an Oil and Gas Production Company

Companies are continuously striving for world-class performance by use of various performance management tools and techniques. One such popular technique, proving effective in achieving best-in-class results, is benchmarking. A case study of an oil and gas production company, aiming to drive business performance based on best practice-based learning rather than compliance, shows how benchmarking can be effectively implemented to maintain continuous improvement. Benchmarking practice is assessed across a variety of different departments affecting operations, giving an insight into the diversity and complexities of implementing the practice yet paying attention on learning opportunities, while maintaining focus on the ultimate goal of achieving world-class performance.