Achieve operational readiness in your capital expansion project
With 64% of capital expansion (CapEx) projects going over budget and 73% delayed beyond schedule, where does your project stand? The leading cause of cost overruns and schedule delays in a capital expansion project is an underprepared workforce. Operational errors, disorganization, and process inefficiencies directly equate to a loss of time and capital. When project deadlines and milestones begin to be missed, the projects lose momentum, creating a cycle of value loss and underperformance that is tough for a project to bounce back from. Considering the fact that your project already exists within the fluctuating ecosystem of the oil and gas industry, maintaining maximum project value is of the utmost importance.
By addressing process and human factors early in a capital expansion plan, successful completion and a vertical startup can be achieved by aligning your people on the critical path to operational readiness plans. For over 50 years, GP Strategies has helped numerous companies achieve faster, more efficient, and incident-free startups while removing the risk of failing inspections and complying with regulations.
The elements of a successful CapEx startup project
Engineering. GP Strategies can assist you with initial feasibility studies during concept design and front-end engineering design (FEED). As an Engineering, Procurement, Construction, and Management (EPCM) support provider, we can help oversee your project and ensure success during pre-commissioning, commissioning and ultimately the launch of your plant.
Workforce Analysis. The first step to properly training a workforce is figuring out exactly what they need. That’s why we perform skills analyses, workforce integration, onboarding training, needs assessments, and a host of other services to assess where your workforce stands and what they can improve on.
Documentation Development. GP Strategies makes sure that your workforce has the customized material necessary for success, including owners and parts manuals, training manuals, operating and maintenance procedures, and electronic performance support systems. Additionally, ensuring that Process Safety Management (PSM) and OSHA regulations are adhered to is critical for Petrochemical, Chemical, and other Process industry plants.
Maintenance Reliability. The U.S. National Response Center says that it costs 50% more to repair a broken component than one that was addressed prior to its failure. By focusing on leadership vision and asset strategy, frontline reliability, precision maintenance, work execution, and online monitoring technologies, we take a proactive approach that helps companies achieve sustainable maintenance and reliability excellence.
Training Design and Deployment. Custom training design and development allows your workforce to engage in hands-on exercises to prepare them well ahead of the start of operations.
Vertical Startup. A vertical startup is an optimized startup that meets all project objectives, reaching operational readiness on day one. Being ready at the time of launch allows for the maximum amount of time to receive positive results, rather than continuing to assess and address issues during operations.
The path to operational readiness starts here
To learn more reasons why operational readiness is so important to your plant launch, watch this webinar hosted by one of our CapEx and operational readiness experts. An investment in human capital and well-defined processes can be the key difference between achieving your goals and massive revenue loss. For additional ways to lead your workforce to operational readiness, read the article “Managing ‘people’ on the critical path to operational readiness” from BIC Magazine.