Downstream Project Management 2018 took place on 4-5 October in Frankfurt in partnership with BASF. Central themes of the conference included oil refining – petrochemical integration, large project challenges, and maximum capital project performance.
BEST PRACTICES AND REAL CASE STUDIES
MAJOR PROJECT OWNERS ATTENDING
2 BRAINSTORMING STREAMS: EUROPE & CIS
The ‘art’ of project leadership gains importance with increasing project size and complexity Effective project teams have a unique and shared identity and create a culture of mutual trust and collaboration. Project leaders should articulate purpose, role model behaviors and nourish the desired culture.
The practice of overestimating has become widespread and endemic, and it extraordinarily expensive Clear objectives, scope closure, and estimate validation help to prevent overestimation. The tendency to overestimate as a function of size starts at less than $50 million and is nearly asymptotic at $500 million.
Without establishing what digital transformation means to an organisation, or how it can be leveraged to yield results, very few will see the impact of digitalisation. A lifecycle platform solution as the enabler to full digital continuity. A business platform is required to connect the dots and lead to leveraging enterprise data from design to operation.
Seeking to save time or budget, project owners who may look to minimize or skip this stage run the risk of not only seeing a substantial cost increase but also of jeopardizing the project investment efficiency altogether. This disproportionate influence of the pre-investment phase thus makes it essential for the industry to implement initiatives aimed at efficiency improvements and cost reduction before FID.