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This paper has been prepared to present successful management concepts proven in the North Sea for large to major size offshore petroleum projects. The information presented is applicable worldwide to large offshore petroleum projects located in harsh environments where logistics and complex integrated designs have a major influence, it draws heavily on the authors and his companies experience in the British/Norwegian sectors of the North Sea.An eight phase distinction for a project is defined and the deliverables for each phase are identified. Importance of a dedicated Project Team during the last five Project phases is discussed. Contractural approaches by a Owner are compared both graphically and through examples. Five keys for successful project management are presented in addition to important aspects of each of the five keys.While this paper is written by a Contractor, the concerns of the Owner/Operator have been incorporated and recognized.