Thursday Aug 29, 2013

Top Strategic Drivers to Success in an Unpredictable, Changing World

Whether they are in the power or process industry, owners, operators, and their E&C partners face extraordinary demands in the next 20 years. The International Energy Agency (IEA) 2012 World Market Report estimates that a cumulative investment of US$37 trillion is needed in the world’s energy supply system by 2035.1 Of that investment, US$19 trillion will need to go to oil and gas facilities and infrastructure and US$17 trillion to meet generation, transmission, and distribution needs with the remaining targeted at other energy solutions.

The $19 trillion in oil and gas investments is expected to span the globe from U.S. shale and Canadian oil sands to Iraq’s new oil fields and Brazil’s deepwater drilling. IEA also points out that the current energy renaissance in the U.S. will have significant implications for energy markets and trade. By 2030, the U.S. should be self-sufficient in net energy needs and a net oil exporter because of its increased production of oil, shale gas, and bioenergy as well as improved fuel transport efficiency. As a consequence of the U.S. shift, international oil owners will place more emphasis on Asian markets and strategic links to the Middle East. Utilities face unprecedented pressures, as well, given IEA’s estimating $17 trillion investment in power infrastructure. Global electricity demand is expected to increase over 70% by 2035, according to IEA, with over half that demand from China and India. As well, electric utilities in the U.S. are expected to invest at least $51.1 billion in transmission projects through 2023.2 The Edison Electric Institute (EEI) estimates that more than three-quarters of the $51.1 billion will be used to support the integration of renewable resources in an effort to meet growing demand, relieve congestion, improve reliability, and support new generation sources to power grids.

Whether owner, developer, utility, or E&C company, success in the current and emerging environment will most certainly depend on an organization’s cost control, operational efficiency, and risk mitigation—read the full article in Engineering News Record’s (ENR) 2nd edition of the Construction Connection digital magazine to discover why.

Visit the microsite to read highlight articles from the digital magazine.

Monday Aug 26, 2013

NEW! Oracle's Enterprise Project Portfolio Management (EPPM) Webcast Center

We have just launched Oracle's new EPPM Webcast Center, a single console where you can search and watch all EPPM related OnDemand webcasts and register to attend upcoming live webcasts.

These webcasts provide updates on new product features, best practices, customer case studies and more.

Simply log-on to the webcast center where you can filter by products and industries that you are interested in.

Click here to visit the webcast center now!

Thursday Aug 22, 2013

Why Government Agencies Need to Prove Value by Doing More with Less: The Role of Innovation

How many times have we heard the phrase, "government agencies need to do more with less?" Although over-used, it remains true, especially in today's environment. Facing a bleak future of flat or reduced funding, agencies need to find new ways to increase efficiencies and reduce costs from their current budgets. To do this, agencies will need to get creative in their thinking and be comfortable making the tough decisions of which projects to cut and which to save. An example of an agency already doing this is NASA. Riding the ups and downs of the fiscal uncertainty rollercoaster and experiencing multiple cuts to popular programs, NASA is still "trying to ensure that the agency can maintain the health of its mission, which includes developing multi-generational rocket programmes." Internally, this requires new thinking, collaboration, and most importantly, innovation from all levels of the agency. NASA has implemented traditional cost saving measures including standardizing spending on travel and reducing the number of conferences employees can attend. In addition, the review process of projects has drastically changed and they no longer say, "yes" to projects they can't realistically pay for. Priorities are reviewed every budget cycle, officials go through a review process to see what programs can be trimmed, and programs are reviewed at key points in their cycle to ensure they are on target and will deliver a positive ROI. Although many of these changes sound small, they can add up to big cost savings in the end.

In a new Economist Intelligence Unit research report, Proving value in an age of austerity: A new normal for US government programmes, they discuss three steps federal agencies need to accomplish to prove value and accommodate this new environment – demonstrating value, doing more with less and producing incremental value.

Read the full Economist Intelligence Unit research report here, to learn more.

Tuesday Aug 20, 2013

Oracle Expounds on Primavera Software Roadmap

Since acquiring Primavera in 2008, Oracle has worked on enhancing several features of its software, such as application integration and mobile functionality.

Looking to the future, Oracle seeks to provide more governance of the project portfolio management (PPM) application. Tony Banks, product director for Primavera software, spoke recently to TechTarget editor Lena J. Weiner about the roadmap for Primavera software.

In the video, Banks said that Oracle's goal is to continue to deliver "its vision" of a "true" enterprise PPM solution. According to Banks, that means "single platform, single vendor."

But Banks added that it also means being able to organize projects across all departments, capitalizing on similar business functions across departments while acknowledging specific business use cases. Watch the video for more details.

Friday Aug 16, 2013

SOLV Provides Accurate Risk Estimates for Oil and Gas Customers with Monte Carlo-based Simulation—Saves Customer US$550 Million

SOLV is an engineering consultancy and software developer based in the United Kingdom. It provides flow measurement engineering and consultancy services for fiscal, allocation, and process flow

measurement in upstream oil and gas production, pipelines, transportation, downstream petrochemical

refining, and power generation.SOLV’s experience stems from North Sea oil and gas, fiscal,

and allocation flow measurement, which is subject to stringent regulation by the

UK Department of Environment and Climate Change, the Norwegian Petroleum Directorate,

and other regulatory bodies.


- Provide accurate estimates of uncertainty around the measurement of oil and gas output from pipelines

to enable global oil and gas organizations to manage exposure to risk.

- Assess accuracy of oil and gas allocation to multiple partner organizations, working in oil fields with

shared interest throughout the world.

Read more


- Deployed Oracle Crystal Ball to perform Monte Carlo simulations to more accurately measure

the uncertainty around oil and gas flow measurement and calculate the probability that

measurements and allocations of oil to individual partners are correct.

- Saved one oil and gas client US$550 million by providing better risk estimates with the help of

Oracle Crystal Ball.

Read more….

"Oracle Crystal Ball enables us to use Monte Carlo simulation to estimate allocation uncertainties

in oil and gas flows and advise oil and gas clients on minimizing risk exposure."

– Martin Basil, Senior Flow Measurement Consultant, SOLV Limited

Read complete customer snapshot here.

Thursday Aug 15, 2013

Why Government Agencies Need to Prove Value by Demonstrating Value

By: Amy DeWolf

In a new Economist Intelligence Unit research report, Proving value in an age of austerity: A new normal for US government programmes, they discuss three steps federal  agencies need to accomplish to prove value and accommodate this new environment, one step being – Demonstrating value.

Demonstrating value is essential to keeping your budget. As the report suggests, the days of Congress approving large, multi-year programs on the promise of ROI are long gone. According to Chris Mihm, Managing Director for Strategic Issues, GAO, "agencies will have to be more able and willing to identify the savings and productivity improvements they produce with a specific investment." To do this, he urges agencies to not over-promise potential savings or exaggerate improvements seen from a project. By reporting on the real data, documenting actual productivity, and presenting the performance improvements that tell “the proper story,” agencies will be able to show tangible improvements to Congress, and most likely maintain their current level of funding. 

Demonstrating value may not be as easy it sounds. As Jon Desenberg, Senior Policy Director for The Performance Institute notes, "demonstrating return on investment requires more than sending reaps of spreadsheets and numbers to Congress." Much like an employee would approach his boss for a promotion, agencies will need to prove value in numbers, show improvement over time, and articulate their ROI clearly and accurately. It may take more preparation than in years past, but it will be worth it in the end. 

Read the full Economist Intelligence Unit research report here.

Thursday Aug 08, 2013

Upcoming Webcast: Discover Custom Solutions for your Oil and Gas Projects - Aug. 20th


Do you know how your oil and gas projects are performing day-to-day?

For project managers in the oil and gas industry, it’s important to know so you can better manage large and complex assets, better collaborate and share information across the value chain.

Register to attend this webcast, Primavera P6 Analytics Release 3.1 for the Oil and Gas Industry, on August 20th, 2013 and discover how P6 Analytics 3.1 delivers critical support for your oil and gas projects, alongside a host of other new features and capabilities. Learn how you can:

  • Minimize risk with smarter tracking of off-line and on-line maintenance projects.
  • Use specific solutions for shutdown/ turnaround/ outages, as well as routine and on-line maintenance.
  • Increase control with deep, day-by-day histories of project changes and performance.
  • Customize into planning and executions, helping you to minimize downtime, quickly address risks to the schedule and increase the odds of a safely operating asset.

Plus at the end of the webcast you will be given the opportunity to have all your questions answered during the live Q&A.

Tuesday, August 20th, 2013

10:00 a.m. PT/1:00 p.m. ET

Tuesday Aug 06, 2013

Why Government Agencies Need to Prove Value

By: Amy DeWolf

From the fiscal cliff to the current sequester, government agencies are operating in a period of fiscal uncertainly. At best agencies will have flat year-on-year budgets, barely keeping up with the rate of inflation. At worst agencies will face deep budget cuts. While many agencies are already reducing waste, cutting back on training, and increasing efficiencies, this new environment of constrained budgets and stricter congressional oversight will require agencies to provide real proof of ROI.

In a new Economist Intelligence Unit research report, Proving value in an age of austerity: A new normal for US government programmes, they discuss three steps federal  agencies need to accomplish to prove value and accommodate this new environment:

  • Demonstrating Value
  • Doing more with Less
  • Producing Incremental Value

Read the full article here


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