No matter where they’re located, capital projects in the energy and materials industry are inherently complex and increasingly sophisticated. Each project is subject to its own set of risks throughout its lifecycle, ranging from changing regulations to blocked funding. Finding accurate information to make the right decisions at the right timein order to identify, mitigate and manage these risks can be laborious and inefficient.
Clearly, the ability to properly manage project deliverables, and associated changes and issues, is vital to improving quality and constructing successful multi-year capital projects. Visibility between project groups and business owners is critical to reduce risks and delays and yield more cost-effective delivery.
But accessing the exponential structured and unstructured data generated from multiple sources, often found in silos around the globe, can slow decision-making and increase costs. As a result, innovative oil and gas, chemical and power companies and their suppliers are implementing a strategy of digital transformation to better engineer, build and operate plant facilities.
Such large projects require real-time information easily accessible anywhere and at any time, along with streamlined ways to organize and execute work. There is growing interest in digital platform technologies, where actionable business intelligence insights can facilitate timely completion and startup on budget. Through a multidisciplinary data-centric approach, a platform connects every stakeholder for more efficient collaboration and provides a single environment to reveal and share reliable data in context for more informed decision-making.
This single source of truth avoids miscommunication that could lead to costly errors, delays, overruns and even accidents. With all participants on the same page, it is possible to better monitor projects and plan work to deliver value at every stage of the process.
The 3DEXPERIENCE platform represents and manages the complexity of a plant and delivers consistent information to construction teams, thereby improving their efficiency as well as the speed and quality of their decisions. Its deliverables-based project management breaks down information silos, providing a real-time view of ecosystem activities for invisible governance. With immediate, consolidated and accurate information, key decision-makers from executives to field personnel increase productivity and agility needed for project success.
In order to foster business transformation, today’s facilities and plant construction projects need to shift from a task-based to a performance-driven approach.
Christophe Roy, Head of the V+R Business Intelligence Portfolio at Dassault Systèmes NETVIBES-EXALEAD
The platform leverages powerful data modelling capabilities, which helps analyze vast amounts of project information. Intuitive, customizable dashboards present dynamic KPIs for actionable insights in a secure, transparent and auditable manner. Users can drill down to:
- Check status updates;
- Identify trends;
- Investigate root causes;
- Solve issues;
- Respond faster to engineering changes; and
- Calculate financial impacts.
The platform connects deliverables, tasks and resources to enable real-time project assessment and evidence-based analysis for allocating and prioritizing tasks and resources.
The results of this digital transformation? Diminished risks, better execution and quality, decreased costs, improved safety and sustainability, and optimized project cycle times.
Learn more in our 9-minute podcast on “Gaining Business Intelligence Insights on Capital Projects”
Listen to the podcast series on “Digitally Transforming Capital Projects in the Energy & Materials Industry”