various solutions to oil drilling processes
Projections from the alternative solution ranking matrix shed valuable insights into the success rate and implementation challenges associated with various solutions to oil drilling processes. Based on this matrix, strategies with the highest possibility of averting disasters are the most challenging to adopt. However, their potential to improve safety is worth the effort, time, and money needed for implementation. The Macondo blowout resulted in far-reaching disastrous effects, including the loss of human lives and the destabilization of the adjacent marine ecosystem. The occurrence of similar incidents in the future may permanently taint BP’s corporate image. Therefore, investing in managerial strategies that improve the safety of drilling processes without overemphasizing implementation challenges such as time and time would go a long way in reshaping the company’s future. BP should prioritize the timely implementation of the top three solutions with the highest potential to improve safety standards. The three solutions can allow the corporation to avoid similar incidences, hence regaining its reputation in the petroleum industry. BP’s executive management should identify and hire PMs with vast experience in running highly complex and risky projects to lead junior personnel. The implementation of this strategy requires a substantial amount of finances to attract skilled and experienced talents from their current workstations.