Monday Jul 14, 2014

Managing Change on Engineering & Construction Projects

By Krista Lambert, Engineering and Construction Strategy Director, Oracle

As the saying goes: change happens. But the recent report from the Economist Intelligence Unit (EIU), Building in Change: Project Construction in Asset-Intensive Industries revealed that for engineering and construction projects, change is not only inevitable, it creates its own set of challenges. According to the report:

  • More than 60% of survey respondents blame unexpected change for at least one-half of all project overruns.
  • 55% of the executives surveyed consider their companies as average or below at anticipating change.

Clearly, both owners and EPC firms feel that they could vastly improve their ability to manage change. An enterprise-wide project management system not only provides greater visibility and insight into changes, but also improves communication across organizational boundaries, so you can quickly adapt to cost overruns, scope and schedule and quality impacts. To find out more, read the article Critical Components to Effective Project Execution in the latest issue of Construction Connection.

Monday Jan 06, 2014

University of Minnesota Saves Millions with Fewer Construction Change Orders and Claims, Improves Collaboration with Project Management Solution

The University of Minnesota is one of the most comprehensive public universities in the United States, offering more than 370 fields of study at campuses in the Twin Cities, Duluth, Morris, Crookston, and Rochester. It also has six agricultural experiment stations, two biological stations, one forestry station, and regional extension services throughout the state. Project Management Solution for university of Minnesota

The university’s capital planning and project management department oversees approximately 300 capital projects annually, valued at US$250 million. Typically, 10 to 15 of those projects have budgets exceeding US$2 million.

Challenges:

  • Deploy a robust project management solution to support the university’s new capital planning and project management group, which oversees more than US$250 million in projects annually across multiple campuses and school facilities.
  • Standardize and automate processes and closely track the cost of capital projects, which range from classroom building construction to campus infrastructure initiatives, to ensure on-time, on-budget completion.

Read complete list of challenges here.

Solutions:

  • Gained a consistent project management methodology and process for the university’s construction projects with Oracle’s Primavera Unifier, improving the team’s ability to complete projects on time and within budget and achieving return on investment in three years.
  • Integrated contract and financial management and enabled the capital projects group to track and benchmark costs to gain a more accurate picture of expenditures associated with building certain types of campus structures, whether instructional buildings or infrastructure projects.
  • Reduced the number of change orders by 15%―saving US$3.7 million in 2009 alone―thanks to more detailed cost and scope information, audit trails, and transparency.

Read complete list of solutions here.

"With Oracle’s Primavera Unifier, we have introduced standardized project management methodologies, resulting in significant savings and enabling us to be better stewards of the projects entrusted to our group.” – Kevin McCourt, Business Manager, Capital Planning and Project Management Department, University of Minnesota

Read complete customer snapshot here.

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.

 Challenges:

- 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

 Solutions:

- 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.

Monday Jun 03, 2013

Western University of Canada Controls Capital Projects with Oracle Apps

Western University of Canada was able to improve its capital project management practices & lower their IT costs with the implementation of Oracle Primavera solutions and Oracle PeopleSoft. Discover why they are a success story and how they were able to free up cash for re-investment in facilities and research for its 35,000 students and faculty.

Watch the video today!

 

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