Use this URL to cite or link to this record in EThOS: https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.782727
Title: Enterprise risk management : development of strategic ERM alignment framework for oil and gas industry in Kuwait
Author: Alajmi, Mishal
ISNI:       0000 0004 7968 3309
Awarding Body: Brunel University London
Current Institution: Brunel University
Date of Award: 2019
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Abstract:
In order to effectively cope with greater and widespread uncertainty, organizations have to manage risk efficiently. This is particularly relevant for business organizations in the energy sector, especially as the nature of their operations is by default challenged by a diverse set of hazards and risks. Accordingly, this research aims into developing an Enterprise Risk Management (ERM) framework aligned with organizational strategies and objectives that is specific in nature and purpose to the oil and gas industry. Academic and practice literature reveal that there is very limited academic and professional literature into alignment of ERM with organisational strategies and objectives in oil and gas industry. In addition, despite the development of several ERM frameworks, many organizations are still facing challenges in aligning ERM with their key strategies and objectives. This is due to the fact that most of the existing frameworks are of a visionary nature and lack implementation guidance which required for implementing ERM effectively and successfully. This research investigates the drivers and barriers facing National Oil Companies (NOC's) along with ERM adoption in the Gulf Countries Council (GCC) region, particularly in Kuwait. To achieve this goal, this research employs the interpretivist approach to recognize the role ERM in a selected Kuwait-based petroleum corporation, Kuwait Petrol Company (KPC). The primary research data were collected and analysed within a qualitative paradigm, using a single-case study approach, which involves a sample of 30 respondents. Based on the empirical findings of this research which is mostly supported by the existing literature, it is quite evident that there is a need for a strategic and aligned ERM framework that is specific in nature and purpose to the oil and gas industry. The empirical findings also have highlighted the significance and the criticality of the proposed framework factors, which is critical for organisations to prioritise their ERM related activities. Along the development of strategic alignment framework that addresses the challenges and concerns of oil and gas industry, the key contribution of this research is the practical implementation guidance, which is intended to improve decision making, planning and prioritisation in oil and gas organizations by providing comprehensive and structured understanding of key ERM components. This research recommends further investigation into the effect of ERM components identified in this research with performance management. Moreover, the research recommends that as ERM is growing rapidly, future studies should be conducted to reveal and capture new factors into the proposed framework.
Supervisor: Althonayan, A. ; Koufopoulos, D. Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.782727  DOI: Not available
Keywords: Oil and gas ; Risk management ; Oil and gas industry in Kuwait
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