Oil Production Balanced Scorecard Metrics Template

Manage KPIs with BSC Designer Online

Oil Production Balanced Scorecard KPI - Balanced Scorecard metrics template example

The Balanced Scorecard (BSC) dashboard indicates performance within each perspective and the total performance of Energy.

Click to see more screenshots below.

As the name suggests, KPIs help organizations define their performance parameters and see that they are being achieved satisfactorily. They vary from industry to industry.

KPIs have to align with the overall goals of the company. KPIs should be selected carefully. They should be quantifiable and actionable.

A close at key performance indicators for Oil Industry will bring us to financial indicators that are used to assess the financial well being of an organization.

In the oil industry, costs are primarily related to finding, development and exploration activities. Revenues come from the sale of oil and gas. Therefore, production costs, oil exploration costs, finding and development costs and gross refining margin can be used as the primary performance indicators.

Internal process perspective helps in finding out the efficiency of an organization-s internal processes and operations. Amount of oil spills, flaring, natural gas processing as per the standards and the efficiency of use of energy at plants and refineries can act as appropriate measures for finding out the said performance.

A very important factor in deciding the success of a business is its customers. It is necessary that the business is seen in a positive light by the customers it serves.

It can be easily achieved by the image it portrays by engaging in social investment activities and taking initiatives to reduce the number of fatalities and injuries of its staff and striving to maintain good relations with its business partners.

Another major pointer to an oil company-s performance can be its environmental initiatives. KPIs to measure it can include the company-s initiatives to reduce green house gas emissions, zone depleting emissions, freshwater use and properly manage the waste generated.

Learn more about Balanced Scorecard:

Balanced Scorecard fact sheet - business facts and statistics about Balanced Scorecard.
Balanced Scorecard e-course - learn more about Balanced Scorecard design and management issues.
Balanced Scorecard toolkit - learn ideas that will help to design your own scorecard, develop and implement KPIs in your business processes.

Share your experience:

BSC Designer. These KPIs were designed with BSC Designer. Share with your colleagues information about this tool for Balanced Scorecard.
Can you add value to Oil Production KPI? Be a partner for balanced scorecard software and info-products.

Use BSC Designer to generate Strategy Maps for this scorecard:

Cyclical Strategy Map:

BSC Designer software allows to link Oil Production KPI KPIs to the location on any map

Reports that can be generated with BSC Designer for this KPI:

Learn more about reports in BSC Designer.

Download trial version of Oil Production Indicators	Purchase full version of Oil Production Indicators + bonus
Oil Production Evaluation Balanced Scorecard is distributed as an Excel file. Before purchase download a trial version of the scorecard.	Immediately after purchase you will have a link to download Balanced Scorecard (BSC) Excel file and file in BSC Designer format.

What are benefits of Oil Production metric:

It is imperative to assess production costs per barrel of oil. This indicator is included to the Oil Production package.
Gross refining margin will help better evaluate and develop the right pricing policy.
Some indicators deal with risks related to price changes in the global market. Analysis of these risks help get ready for sharp price declines.

More ideas on using Oil Production KPI:

Companies involved in carrying out Oil production are to make huge investments in buying and installing heavy equipments. Also, a workforce of equally competent people has to be prepared to utilize those devices appropriately and beneficially. Add on to this, the requirement of complying with the legal norms of the state in the field of Oil procurement.

This sector of Oil manufacturing has a role to play in a nation’s economy also, thereby adding to the reasons for ensuring a proper tracking way to be employed.

Such aspects bring in enough complications in the Oil production sector to make it necessary for introducing a monitoring tool. This makes up for an immediate need to construct a ‘performance management tool’. One such answer can be Balanced Scorecard i.e. BSC. This device via the KPIs (Key Performance Indicators) engraved on it provide a means to evaluate the processes of Oil digging on the basis of a number of factors ‘that count’.

To decide for the metrics that will actually reflect the movements of Oil industry, a detailed analytical study needs to be done. After getting over with this job, regular following of these indicators should be done to keep the operations within control and correct wherever things go haywire.

More useful information for Energy Evaluation:

Related metrics and KPIs for: Gas Production, Electricity Production, Alternate Energy Sources, Electricity Delivery, Gas Station, Biofuel Production.
Customers who viewed this item also viewed: Outsourcing Metrics Pack | Transportation Metrics | Just in time manufacturing
Energy best practices articles: KPI vs. Balanced Scorecard, Design Scorecard with BSC Designer, Performance Management and Control Problem of Oil Industry, Performance Management and Control Problem of Gas Industry All articles about measuring performance in Energy.

Business Intelligence (BI) for Energy - measure performance with Oil Production Scorecard for Excel

We have designed Oil Production Balanced Scorecard (BSC) in MS Excel, so now you can measure and control your performance using this popular business tool. Download trial version right now.

Alignment with Balanced Scorecard and KPIs is a great way to control the performance of Energy.

In comparison to other business performance measure and control methods, alignment with KPI is much more easier to implement and use. Use Oil Production scorecard to align business performance.

Why do I need these metrics?

MS Excel files that we distribute are a spreadsheets packed with metrics information and the performance calculation formulas.

It's a real-business information. We invested in research that involved experts from Energy Evaluation industry who elaborated and shared certain metrics. It's valuable, real-life experience which will help to improve the performance of your business.

I'm sure you understand the importance of measuring and controlling business using correct metrics, so this small investment will return in a great increase in sales.
To get a basic idea about what metrics to use. We learned a lot of business metrics and packed scorecard with the most successful.
To have a sample excel file, which is easy to modify to fit your needs. All Excel formulas are available for copy and change.
To start with measuring business performance. It's important to start with correct metrics, then you will be able to fulfill scorecard.

Oil Production Evaluation Balanced Scorecard Screenshots

Metrics for Energy Evaluation. This is the actual scorecard with Oil Production Indicators and performance indicators. The performance indicators include: oil production,finding and development costs,gross refining margin,production costs per barrel,oil exploration costs,customer perspective,injuries,fatalities,joint ventures success rate,social investment,internal processes perspective,spills,flaring,energy intensity,natural gas processing,environmental perspective,green house gas emissions,ozone depleting emissions,freshwater use,waste disposal.

Some help information that explains how to use scorecard in Excel.

Some Balanced Scorecard help information that explains how to use scorecard in Excel, what scores and weights can be changed.

Download or purchase Oil Production Evaluation Balanced Scorecard

Download a trial version of Oil Production Evaluation Balanced Scorecard or purchase a full version online.

Subscribe to our e-course that helps a lot with Balanced Scorecard design.