Archives :: Business & Economics :: Project Management
January 1, 2014
Have you ever heard someone say, “The job is a lot easier if you have the right tools?” Having the right tools is critical to the success of craftsmen, such as carpenters, electricians, plumbers and the like. The same holds true for managing projects. Initiating a project raises many questions (such as: What will we do? How will we do it? Who will do it? How much will it cost? When will we do...
October 1, 2013
It is well known that the oil-and-gas, chemical and petrochemical industries are capital intensive. They require sophisticated facilities (plants), the installation of which are typically handled via capital projects that, regardless of size, require significant effort from a number of parties for execution. The investing or operating company is typically called the owner and, for a number of reasons...
December 1, 2012
Companies in the chemical process industries (CPI) spend billions of dollars every year on capital projects. Most are successful, yielding the desired results. Some projects are only partially successful (and therefore partial failures), in that they are ultimately completed and work as desired, but only after a budget or schedule overrun. And some projects fail completely, sometimes spectacularly, never...
January 1, 2012
Projects have been undertaken by nations, private enterprises and individuals for more years than recorded history. Over the last three decades, project execution in the chemical process industries (CPI) has become almost standardized, with the general adoption of certain well-known project management procedures including the Front-end Loading (FEL) process and the “Body of Knowledge.” Those...
November 1, 2011
To stay on budget, major capital projects often call for aggressive schedules. Engineering, procurement and construction (EPC) contractors often end up using work processes that are not part of an established or standard work procedure. This is especially true when it comes to acquiring materials to support the schedule, particularly for critical paths related to the piping design, supply, fabricate and...
March 1, 2011
Maximizing quality, minimizing cost and meeting schedule milestones are ever-present challenges in large projects. While significant progress has been made in certain areas of facility construction, the management of project-related information continues to struggle. Information received by operators tends to be incomplete and inaccurate, while the cost of producing it remains high. Common reasons for...
April 1, 2009
Project management can be a messy, complex issue for all involved parties and, likely, the most hair-raising aspect of all is project handover from the EPC (engineering, procurement, construction) contractor to the chemical processor. In the past, this literally involved a truck pulling up with cartons and boxes chock full of engineering documents, drawings, operations manuals and catalogs. From there, the...
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