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Deliver Capital Projects Faster, Cheaper, Better

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Deliver Capital Projects Faster, Cheaper, Better

Deliver Capital Projects Faster, Cheaper, Better
May 20
11:50 2014

Most managers and engineers have had firsthand experience of capital projects that failed to live up to expectation when introduced and needed significant attention during routine operation. The excess capital costs of these troublesome assets can be huge.

Opportunity costs are high too. One organisation DAK Consulting supported estimated that improvements in capital project delivery, was enough to recoup the original capital investment during the first year.

Early Equipment Management

EEM (Early Equipment Management) is a continuous improvement process that will systematically improve your organisations ability to deliver new product, new equipment and new systems in less time with less resource and higher return on investment.

The goals of EEM are to deliver flawless operation from day 1 and lowest on-going operational life cycle cost. This is achieved through the use of collaborative project processes to capture latent weaknesses as early as possible and prevent problems from progressing past the current step.

* Steps 1 and 2 contain activities to Define the correct scope of the project and involve the right expertise;

* During Steps 3 and 4 contain activities to tease out latent design weaknesses and enhance project value to achieve a robust Design;

* During steps 5 and 6 contain activities to Refine the operational design and develop internal competence.

DAK Consulting’s analysis shows that the difference between an “average” and “simplified” design can be worth a 30% reduction in capital costs. The same analysis shows that “complex” designs can increase capital costs by more than double when compared to the “average” design. That alone is enough reason to take care at the design review stage.  However, capital costs are normally a small % of the total life cycle costs so the gains from EEM can be worth as much more.

Find out more about EEM or DAK Academy’s EEM training workshop 15-17 July 2014 contact Sue at Sue.Catt@DAK Consulting.co.uk, Tel +44(0)1491 845504 or visit www.dakacademy.com.

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