Review of Oil and Gas Development Life Cycle Project Management (LCPM)

The effective implementation of the project management plays a core roll in avoiding bad project use effect and waste of funds, caused by asset management planning and design errors or equipment selection errors; meanwhile, it can effectively improve the operational efficiency of enterprise assets, lower operating costs and save resources. In June 1974, A. Gordon published a paper “3L Economics Concept” as the starting point, on the “Building and Quantity Surveying”, which is organized by the Royal Institution of Chartered Surveyors. In this paper, a review of domestic and foreign research, from 1974 to 2015, on the total life cycle management progress will be given, and then a comment on it will be established. conclusion: the study of the oil and gas development project lifecycle management is just beginning now. Hence, building the whole life cycle planning index system in line with the characteristics of oil and gas development project is very necessary.