POSC Board Planning Session

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POSC Board Planning Session

October 21-24 Session Feedback and Status of
Actions
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POSC Board Planning Session
Presentation Outline Process Results Drivers Goa
ls Principles Implications Straw
Model Governance

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POSC Board Planning Session

• Process
• Facilitated by Sterling Consultants
• Pre-session interviews/questionnaires
• Board POSC Officers participated
• Met with POSC staff
• Reviewed data, developed scenario, created
  action plan

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POSC Board Planning Session

Drivers Evolve POSC to the original vision a
perpetual, sustainable membership Create a
funding model based on value received
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Planning Session Results

Goals Maintenance of POSC
(Now) specifications Achieve interoperability
(Mid-term) Support the evolving
(Long-term) integrated EP model
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Planning Session Results
Established Principles Revenue from value derived
in marketplace Companies will pay a member
subscription Project-based funding above core
maintenance of POSC specifications Maximize
member control of funding

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Planning Session Results

Oganizational Implications Multi-tiered
organizational model Funding will shift from
current Sponsor subsidies Board membership will
change all seats elective A transitional period
required
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Planning Session Straw Model

I
Maintenance (Core Activities)
New Common Projects
II
JIPs Consultancy
III
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Straw Model Detail

I
Maintenance (Core Activities)
New Common Projects
II
JIPs Consultancy
III
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Straw Model Detail
Tier I - Maintenance Contains Epicentre and
other specification maintenance information
program and meetings Growth will be carefully
controlled by POSC management Will be supported
by membership fees

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Straw Model Detail

I
Maintenance (Core Activities)
New Common Projects
II
JIPs Consultancy
III
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Straw Model Detail
Tier II - New common projects Funded by
interested members Results will be open to all
members Results will move to Tier I after
approval through the POSC open process

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Straw Model Detail

I
Maintenance (Core Activities)
New Common Projects
II
JIPs Consultancy
III
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Straw Model Detail
Tier III - JIPs/Consultancy Revenue generating
activity May not move to other Tiers Intellectual
Property Rights an issue Might compete with other
providers

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Planning Session Results
Governance Will transition to a membership
model Board composition will reflect entire
membership Sponsors will phase out of Board At
large Board category will end Board elected
from membership

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Planning Session Results
Governance Board composition Elections by
categories - size and type Different
representation levels to balance governance

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Status of Organizational Change
Finalized at December Board meeting POSC staff
creating Business Plan Listening to membership
feedback Obtaining legal review of new
framework, no issues identified to
date Releasing details to membership Began
implementation first quarter 98

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December Board Meeting Results
Effective after transition period, Board of
Directors will be composed of Oil Companies 5
Directors Non-oil Companies 4 Directors Government
/Academic/ Not for Profit 1 Director CEO

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December Board Meeting Results
Other governance actions Election of Directors
is by membership as a whole, not by membership
category. The CEO cannot serve as Board Chairman

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December Board Meeting Results

Board reviewed preliminary business plan, will
review final plan at March Board
meeting Business scenarios are being developed to
understand implications of new structure Board
approved a new membership fee schedule,
including a new category of revenue range from
100 M to 1 B