A case study is presented in this paper that introduces a novel approach to Performance Management (PM) in an Exploration and Production Development Company (E&PDC). Typically, performance is measured at a functional level without sufficient attention to the validity of the Strategy, and the efficiency of the organization, or its leadership. Business analytics, and risk-based planning is used to improve the application of the business Strategy in an E&PDC. The case study described in this paper examines the Strategic performance, and the organization’s efficiency as part of the Performance Management system. Data Analytics was conducted on consolidated 12 years historical performance metrics to identify, the Health of the Strategy, correlations of different Performance Management metrics, and, leadership efficiency. Strategic outlook was developed using multi variable regression to slice, and dice business performance profiles, assess risk, as well as opportunity. Risk based planning is then conducted on the statistical results to quantitively rank the E&PDC enterprise risks. The results indicate significant diversity in the organizational structure, and associated workflow. Consequently, the functional performance in the E&PDC is variable, and is often downgraded by incomplete workflow, and inadequate organization efficiency. However, the shortfalls of the business performance whether in organization, or workflow presents a wealth of information that can be readily used to improve business performance. Therefore, work in this paper provides the opportunity to improve cost per barrel by up to 20%, a reduction of up to 30% in capital investments, and a up to 25% decrease of man-hours required to carry out core business functions. The benefits of aligning organization capabilities with the Strategy, and revisiting policy is underlined in this paper. The economic viability challenges facing the oil and gas sector today require a lean approach to manage business liabilities. This can only be achieved with measurement of functional, organizational and strategy, performance and the development of risk-based business plans that prioritize annual business plans.