Get Capital Projects Completed on Time, on Budget

Nov. 12, 2019
Nearly all large capital projects experience slips in delivery deadlines and budgets. But this doesn’t have to be the norm. Learn how AVEVA Unified Project Execution mitigates project risk by enabling efficient planning and implementation.

Capital projects are costly, risky undertakings. In fact, 98% of mega-projects are delivered late and 80% are over budget. The reason? According to McKinsey & Company, poorly managed risks and high levels of uncertainty are the primary culprits. Other contributors include misalignment of project execution priorities, a lack of transparency, lack of control, and wasted time and resources.

At the AVEVA World Conference in Orlando this week, the company is highlighting its Unified Project Execution software, which is designed to reduce the risks associated with complex capital projects. 

AVEVA’s Unified Project Execution software addresses the four success factors critical to delivering on-time, on-budget projects. Those factors are:

  1. Aligning project teams. This involves enforcing best practices and contractual compliance, structuring contracts and project plans for shared success, implementing integrated technology to reduce rework and errors contributing to waste, setting realistic project cost expectations, and breaking down silos within processes and functions.
  2. Focusing on disciplined change management. The high number of changes on large capital projects underscores the importance of automating change receipts and approval processes according to the contract, as well as assessing change requests against project success metrics such as budget and schedule. Handling these tasks efficiently reduces risk, increases predictability, and protects profitability to reassure financiers.
  3. Creating trustworthy data and bulletproof audit trails. Automating processes to minimize the occurrence of claims and disputes among the project team and reducing the impact of such claims and disputes when they do occur are critical aspects of effective modern capital project management. With these aspects under control, benefits include efficient project status updates and minimization of administrative costs of claims defense and reporting.
  4. Enabling data-backed decision-making. The ability to accurately monitor progress and costs, predict and prevent problems and bottlenecks before they happen, provide a holistic view of the project at any point in time, optimize material availability, and control the contractual and physical flow of resources holistically to streamline planning at all phases of the project help minimize waste related to materials and construction management. 

Addressing these factors together creates a unified, transparent, and automated environment for shared project success. And that’s what AVEVA’s Unified Project Execution helps you achieve. It provides an integrated engineering, procurement, construction, and handover portfolio to maximize data value and lower the cost of project execution.

Three components of AVEVA’s Unified Project Execution are key to delivering the critical success factors listed above:

  • AVEVA ProCon mitigates project risk by connecting project teams, obligations, and status to streamline execution and deliver on-time, on-budget capital projects. It enables enforceable processes, tracking the receipt, review, and approval of changes before implementation takes place. Automated alerts for potential overruns provide more informed decision-making as changes arise.
  • AVEVA Enterprise Resource Management enables efficient planning and execution of all resources at every stage of construction of a complex, cost-intensive asset. It combines material management, optimized bulk buy workflows, workface planning, and 3D model integration to minimize value leakage and enhance productivity. In addition, automation of work processes enables early bottleneck detection and aligns material availability with the schedule to cut material and production costs and improve overall project quality.
  • AVEVA LFM captures the 3D baseline of your existing brownfield asset in a simple, accessible, and secure workflow. This ability reduces rework, enables simple project statusing, and enhances data handover. It provides full flexibility on both greenfield and brownfield sites, connecting all information into 3D tools—regardless of type, size, speed or volume of scan data collected. It’s also system agnostic, meaning that it can work with currently installed technologies and will not delay the project execution phase.

Several companies already experiencing the benefits of AVEVA’s Unified Project Execution approach include Shell and Worley.

Shell has deployed ProCon on its 16 largest projects. One major benefit achieved by the oil major is experiencing zero claims on its $12 billion project—the first floating liquefied natural gas (FLNG) operation. The success of this project with AVEVA ProCon has led it to be considered a benchmark for other company projects.

Worley, which provides project and asset services in the energy, chemicals, and resources sectors, is using AVEVA Enterprise Resource Management to reduce training time across engineering, procurement, and project controls by 23%.

Deploying AVEVA Unified Project Execution along with AVEVA Unified Engineering maximizes the value of your data by integrating engineering and design. The combination of these two solutions allows production workers to access their list of jobs from AVEVA Planning, 3D models from AVEVA Everything3D, as well as all engineering documents such as drawings, photos, and datasheets from the integrated information environment of AVEVA NET. This connection of engineering and project execution systems translates into a significant reduction of rework, driving savings of up to 15% off total project costs.

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