Some of the issues at Shell have been:
1) dishonestly in evaluating projects true risk and the potential over a range of outcomes especially the down side outcomes,
2) slowness in incorporating new information and being selective about what data to incorporate in the decision making process,
3) excessive resources spent on burdensome processes and bureaucracy,
4) driving projects like a race car with feet simultaneously on both the accelerator and brake,
5) overstaffing projects especially groups not reporting directly to an asset creating excessive overhead,
6) constant tweaking of operating plan drawing resources away from adding value.
As a result, projects come in over budget, behind schedule, and underperform. In times of high oil and gas prices, these issues are overlooked at the expense of reduced profits. In large scale projects, competing big players have similar issues that mask these issues. Problems become apparent when prices are low and when competing with players not burdened by the above issues. Senior management has not been held accountable. Lower management and individual contributors either play the game or are punished. Few are able to walk the fine line balancing company directives and value added work.