Bubble PPM for
Upstream Energy
Realize project and pipeline value
Our Energy Sector solution helps upstream companies manage all their energy resources via a maturation process that’s aligned with industry standards.
Integrated Resources Information Solution
The upstream energy sector relies on an evidence-based approach to realize value. However you track exploration and delivery projects, iRIS PPM provides the tools to quantify risks and manage uncertainties:
- Achieving better visibility of all your project data and resources
- Providing a single source of truth for reliable, data-driven decisions
- Improving risk and uncertainty recognition and mitigation
- Providing a virtual twin of your organisation’s existing decision-making process
- Driving operational efficiencies through adherence to best practices
- Establishing a home for all your current and historical data
What is iRIS PPM Software?
Project and Portfolio Management software for upstream energy companies
Visibility of all project data and resources
Long lead times and assets that need to be managed over the long term are an inescapable reality of working in the upstream energy sector. By dramatically improving project transparency, iRIS provides Executives through to individual team members with access to key information they may need in order to take tough decisions when balancing risks and potential rewards.
A single source of truth for reliable, data-driven decisions
iRIS drives individual and team accountability, and provides visibility and transparency of all your portfolio data.
By ensuring that all your decisions are based on quality-assured facts and interpretations in a common corporate knowledge base, more reliable outcomes are delivered.
Improve the management of risk and mitigation of uncertainty
iRIS facilitates the active management of priority actions, risk assessments, and potential project outcomes.
It enables project teams to highlight, and justify, the key areas where more data are required to mitigate uncertainty.
Drive operational efficiencies through adherence to best practices
With over 25 years of portfolio & project management best practices built into the platform, iRIS helps senior leaders to prioritize the critical activities of all their teams, and for teams to organize a coherent approach to project maturation.
Our software facilitates efficient execution of your own business processes, in all phases of the upstream project life cycle.
Establish a home for all your current and historical data
iRIS helps companies in the upstream energy sector to track and report current project maturation, while retaining valuable organizational knowledge for the long-term.
With easy-to-use tools, access permissions, and dashboard options our software makes it easier than ever for you to manage complex projects while satisfying stakeholder and regulatory requirements. Furthermore, it enables you to consolidate lessons learned, through time and across projects.
Key benefits 1
Better manage your property rights
Whether you’re maximizing value from property interests on land or at sea, upstream energy companies know that proactivity and visibility are essential components of the successful coordination of aspects such as equity interests, environmental protection, community engagement, and partner collaborations. The iRIS PPM platform provides a single, unified, environment for managing all your stakeholders and property data related to your portfolio of interests.
Visualize all your property interests to manage and protect corporate reputation
Whatever element of property rights you need to manage, iRIS PPM makes it easy to keep track of aspects such as license entitlements, fiscal terms, contracts, legal correspondence, and more.
With a granular system permissions and access structure, relevant parties can see only what you specify, and ensures protection of sensitive technical, commercial, and economic data in portfolios under your control.
Manage all aspects of your license to operate in one place
Whether it’s regulatory, environmental, social, or other considerations, iRIS PPM provides a home through which to manage all your stakeholders and dependencies in one integrated environment. Contracts, fiscal terms, legal correspondence, license work obligations, environmental and other data can all be retained for controlled, long-term access.
One location for all key property data
The iRIS PPM platform supports responsible and accountable staff disciplines to consolidate all aspects of property rights management within the upstream energy sector.
It enables a common corporate view of property data, related initiatives, and all key stakeholders to be leveraged effectively.
iRIS ensures your organization’s license to operate can be managed in an efficient and collaborative approach.
Functional benefit examples:
- Property dashboards
- Image libraries
- Legal terms and contract links
- Partnership collaboration
- Regulatory obligations, management and liaison
- Environmental plans and impact management
- Social and cultural engagement initiatives
Key benefits 2
Better manage your energy sources
iRIS PPM helps upstream energy companies to better track data and manage the uncertainties inherent in assessing energy resources at any stage of lifecycle maturity.
Whether you’re assessing the seasonality of expected wind currents, or the geological presence and quantity of energy volumes underground, the management of uncertainty is a key concern for companies in the upstream energy sector.
The iRIS PPM platform provides a single, unified, environment for assessing the data, interpretations, and models when managing maturation of all your energy resources.
Actively manage energy resources, and control access to key data in a single place!
iRIS promotes a systematic approach to data capture, validation, interpretation, and modelling in a solution that provides access via a consolidated ‘single source of truth’. A holistic view of the energy resources and economics associated with each individual project is realized. iRIS facilitates consistent data-driven maturation decisions, and facilitates optimal allocation of investments across portfolio opportunities.
Quantify all your energy resources and see all your uncertainties
Whatever the energy resources data that you’re seeking to understand, iRIS PPM provides a home through which you can manage all your assessment work in one integrated environment.
Access to acquired data as well as derived interpretations, documentation and models, within a unified repository, promotes corporate knowledge retention for the long term.
One location for all key resources data
The iRIS PPM platform supports responsible and accountable staff disciplines to consolidate all aspects of Energy Resources management within the upstream energy sector.
It facilitates a common corporate view of energy resources data, uncertainties, analysis, and models.
iRIS ensures transparency in your organization’s energy supply maturation process with a consistent and coherent approach.
Functional benefit examples:
- Energy Resources dashboards
- Data retention logs, summaries, descriptions and interpretations
- Links or integrations with other existing data systems
- Snapshots of historical data (e.g. low/best/high case metrics vs previous years)
- Peer review records and Quality Assurance tools
- Support for project decisions: common forecasts basis for economic evaluations
- Single source of truth: consistent statutory, stakeholder, and internal reporting
Key benefits 3
Better manage your development projects
Often representing years of multi-stakeholder effort, development projects connect the critical activities that lead to value realization. Ensuring an integrated approach to project maturation, iRIS PPM enables individuals and teams to actively manage priorities, risks, and delivery activities that adhere to your organization’s governance process. Explicit decision point criteria ensure alignment with industry standards for project maturation, reporting, accountability, and governance.
The integrated solution for managing all your development projects
Development projects require careful planning, consistent governance, coherent implementation, and comprehensive management of risks to optimize economic value.
Upstream energy projects are complex, long-term investments and involve many workstreams and stakeholders.
iRIS PPM provides all the data and tools you require to keep track of your development activities, schedule targets, expenditure, production forecasts, resources estimation, and project economics.
Optimize maturation and prioritization of your project portfolio in one place
The upstream energy sector relies on an evidence-based approach to realizing value. iRIS PPM provides the tools to manage data, risks, inherent uncertainties, and decision-making over lengthy project lifecycles. Its flexible, module-based structure enables you to mirror your organization’s existing project maturation decision-making process in a collaborative, web-based system. In addition, it facilitates the efficiency and collaborative benefits of an integrated solution for your entire portfolio of projects.
One location for all key project data
The iRIS PPM platform supports responsible and accountable staff disciplines to consolidate all aspects of Development Project management within the upstream energy sector.
It provides a common corporate view of projects plans, operational activities, risk management, and economics.
iRIS ensures visibility of projects across the corporate portfolio, meaning value optimization is comprehensively managed using an holistic approach.
Functional benefit examples:
- Flexible work plans: task assignments, delivery targets, accountability, etc.
- Consistent governance: lifecycle gates, decision criteria, milestones, etc.
- Quality Assurance: peer reviews, auditing, etc.
- Configurable dashboards and reporting
- Feasibility assessment tools
- Operations management and reporting
- Risk scoring and red-flag issues tracking Economic metrics tracking and associated financial model uploads
Key benefits 4
Improve visibility of your project portfolios
The iRIS Portfolio module facilitates a coherent, holistic approach to managing the coordination and prioritization of your projects via an integrated solution. Individual project data of any type can be collated and compared for your entire portfolio, or any sub-set of interest. Evaluate projects using criteria such as economic metrics, cashflow forecasts, staff resource availability, inherent chance of success, and key uncertainties. Identify and select projects based on their alignment with corporate strategic goals. Track and report on those projects throughout delivery.
Mirror your maturation process to manage investments strategically
iRIS establishes an executive governance structure for portfolio decision-making. It provides key stakeholders with the data they need to make informed corporate decision choices.
Risks and benefits assessed by individual project teams can be systematically compared to objectives. In addition, it ensures each portfolio can be transparently assessed against your organization’s overall risk appetite.
All with monitoring, dashboard and reporting tools for tracking progress on individual projects and the overall portfolio.
Visualize your project opportunities, risks, and benefits in one place
Concurrently managing multiple, complex opportunities with varying degrees of lifecycle maturity is a key challenge within the upstream energy sector. The visibility that iRIS provides helps to maintain the desired balance of different projects to meet your organization’s strategic objectives. iRIS facilitates consistent decision-making, based on your own criteria, and ensures that the portfolio clearly reflects the corporate risk tolerance, economics hurdles, and desired outcomes.
One location for all key project data
The iRIS PPM platform supports responsible and accountable staff disciplines to consolidate all aspects of Portfolio management within the upstream energy sector.
It provides a common corporate view of projects plans, operational activities, risk management, and economics. iRIS ensures visibility of projects across the corporate portfolio, meaning value optimization is comprehensively managed using an holistic approach.
Functional benefit examples:
- Project selection for strategic objectives
- Resources management
- Risk management
- Portfolio prioritization tools
- Portfolio maturation progress monitoring
- Stakeholder criteria and decision-making
- Standardized management reporting
- Enhanced project team collaboration
- Bespoke dashboards
- Lessons learned, corporate knowledge retention
Transform the way you manage upstream energy projects
Bubble® PPM provides oversight of all your projects and deliverables regardless of complexity or volume.
Key benefits
Property rights
Manage the breadth of your property interest opportunities
iRIS PPM helps consolidate your overview of existing acreage interests and identify scope for new deals with current or potential stakeholders.
Balance stakeholder priorities and regulatory requirements
Ensure your property interests and terms remain commercially viable, as you manage stakeholder objectives, partner relations, and regulatory liaison.
Track all your acreage rights and obligations
Monitor legal, environmental and social aspects, including reporting requirements, when managing license to operate across your acreage interests.
Energy sources
Manage resource estimation
iRIS PPM can track low, best, and high case estimates for energy resources, whatever their stage of maturity. Where more than one energy source contributes to a development project, iRIS can facilitate monitoring and management of individual units.
De-risk systematically
iRIS PPM can house all key data and assessment activities, allowing you systematically de-risk energy resource investment decisions to increase your chance of success. Resource classification is linked to clear governance criteria, promoting adherence to reporting standards and compliance.
Retain all key data over time
Creating value from energy resources can span decades. With iRIS PPM you can collate, interrogate, and manage all sources of validated data. iRIS provides consolidated access to all derived interpretations and models long after original data is collected and assessed.
Development projects
Plan and manage your development activities
iRIS PPM provides development project managers with tools to plan activities, assign tasks, and monitor progress. It promotes delivery against explicit decision framework criteria, as defined by your own key stakeholders.
Keep track of project data, risks and economics
The iRIS PPM solution can track any aspect of technical, commercial, and economic data defined by your organization. It provides controlled user access to exploration, appraisal, development, and production data for lasting corporate knowledge retention.
Record full lifecycle data and include third party interactions
iRIS PPM can log details of all phases of the project lifecycle, or any sub-set of particular focus for your organization’s business model. Input and access for external third parties e.g. Partners, Regulators, Auditors, etc. may also be integrated and controlled.
Portfolios
Dramatically improve your project success rates
iRIS PPM captures chance of success assessments and how they evolve throughout the corporate maturation process . Lessons learned are recorded, can be compared between projects, and retained for long-term corporate knowledge
Ensure effective utilization of staff and other resources
The implied resourcing requirements for various potential project selections can be investigated using iRIS. This can ensure that available resources, whether human, financial, or other assets, are efficiently allocated to achieve desired outcomes
Your holistic, structured tool for balancing project investments
iRIS provides the visibility and framework to maintain an optimal balance between different projects. It accounts for critical factors, such as: project maturity risks; forecast uncertainties; resourcing availability; strategic initiatives; economic returns; etc
It’s fully customizable to
your unique needs
Our out-of-the-box system is quickly configured.
Module based system
Each is easily adapted to deliver against challenges that apply to your organization.
It scales with ease as your business evolves
Our goal is to ensure customers have confidence in portfolio optimization and project execution. Our platform delivers:
Visibility
A single source-of-truth for all project data
Accountability
In-built project governance that follows your processes.
Efficiency
Automated dashboards and reports to save time.
