How To Deliver Value For EPC Organizations Amid Competition: Recommendations
Today’s increasing competition and volatile geopolitical situations are making it imperative for the Oil & Gas companies to maintain their project costs while delivering optimum quality within the stipulated time frame. They are expected not just to meet market demands but also reap the benefits of potential commercial opportunities. As a leading engineering services provider, we have noticed that the EPC companies are experiencing a timeline shrink in their overall project execution by approximately 10-15%, and even the engineering side of the business is experiencing a 10% shrink in the project volume.
The projects are often intended to expand the existing facilities by building new process units and revamping the existing ones. It results in a complex scope of engineering requirements with possible execution challenges and significant performance issues. Therefore, it is vital for the engineering companies to develop and offer an innovative & dynamic methodology that helps reduce engineering timeline to manage project completion. Any delay in this regard could result in significant consequences for the organizations. They could be in terms of attracting project penalties for the customers in the form of losing per day production loss. Thus, it is vital for the companies in the EPC ecosystem to stay on top with the timeline and cost.
As a leading plant design engineering organization, we are listing some of our best practices and innovative approaches that have helped companies from around the world to solve their possible detail engineering challenges.
If you are a company in the same situation and who wishes to make a breakthrough here is your opportunity. As four times “Drivers of Success” Award-winners, we recommend the below approach to ensure timely completion of task-at-hand and within budget.
I/P Document Review:
- A detailed analysis of the input document before job execution
- Review of project scope beforehand to avoid any project discrepancy to prevent rework and excess man-hours consumption.
Status Create Checklist:
- The execution philosophy for all the jobs is unique. Therefore, creating a checklist in-line with customer expectations and requirements help map the expected quality parameters. Once approved, the same adhere throughout the project execution cycle.
- Periodic Milestones are essential to this exercise. They help conduct reviews to identify and avoid any possible clash and difference in the expected deliverables.
Innovative Ideas: – Project Execution Idea
The introduction of creative ideas and approach with the project execution cycle is a vital requirement for all detail design engineering companies to stay competitive in the marketplace.
- We create a unique project execution methodology to reduce overall project execution cost and time by managing documentation for interdependent deliverable across different disciplines.
- Our team effectively utilizes the tool interoperability to create practical designs that help to solve complex customer problems. Their in-depth understanding of software usage with its optimum features helps reduce the rework and saves times to stay on budget. (For instance, moving a 3D model from one software to other with minimum data loss and identifying the areas losses. The advance understanding of data loss in 3D Model helps the team to provide the intelligent 3D model input that is in line with the client-specified format.)
To conclude, the above-listed pointers are part of a broad overview of our experience. It is while meeting the plant engineering and construction challenges for customers in a cost-effective and timely manner. As a team, we offer the right team equipped with advanced resources to synchronize with your team to deliver positive outcomes each time. So, if this interests you then we will be happy to provide a detailed consultation of how we aligned our customer’s ROI goals with their investment in time and cost for their engineering and construction needs. It is with how we helped them deliver value across their end outcomes.
Are you looking for the experienced plant design engineering company for your project?
We are a leading multi-disciplinary engineering services provider with wide experience on complex projects.
Call us now: 1-877-RISHABH (1-877-747-4224)
Meet Rishabh Engineering at ADIPEC 2012 for Potential Partnerships in Engineering Support Solutions
Rishabh Engineering, a multi-disciplinary engineering support division of Rishabh Software,…
Norway Opens New Arctic Area to Oil Drilling While U.S. Drilling Drops & Canadian Drilling Increases
Recently, the Parliament of Norway voted to open up a…