Rethinking petroleum project evaluation: integrating administrative innovation, financial Governance, and accounting transparency in volatile markets Replanteamiento de la evaluación de proyectos petroleros: integración de la innovación administrativa, la gobernanza financiera y la transparencia contable en mercados volátiles
Academic Article in Scopus
Project evaluation in the oil industry faces growing challenges stemming from international price volatility, geopolitical tensions, and the need to integrate sustainability criteria. Traditional financial and administrative management models, based on rigid planning and control approaches, have limitations in anticipating risks and optimizing resources in highly uncertain contexts. This article proposes a comprehensive analytical framework that combines document review, case studies of oil projects, structured surveys of industry managers, and international comparative analysis. The results show that the incorporation of administrative innovation, financial governance, and accounting strengthening practices reduces budget deviations by an average of 18%, improves schedule accuracy by 22%, and generates a 15% increase in operational efficiency. Beyond quantitative indicators, the findings confirm that the legitimacy of management models depends on their adaptability, transparency, and alignment with regulatory and social frameworks. In academic terms, the study contributes to rethinking the relationship between classical management theories and contemporary financial governance practices in the energy industry. At the business level, it offers a roadmap for integrating administrative innovation and accounting control tools that strengthen organizational resilience. Finally, at the sectoral level, it raises the need for policies that encourage digitization and transparency in the management of strategic projects, to consolidate a sustainable development model in the oil industry.
