Monday Nov 11, 2013

EPPM Is a Must-Have Capability as Global Energy and Power Industries Eye US$38 Trillion in New Investments

“The process manufacturing industry is facing an unprecedented challenge: from now until 2035, cumulative worldwide investments of US$38 trillion will be required for drilling, power generation, and other energy projects,” Iain Graham, director of energy and process manufacturing for Oracle’s Primavera, said in a recent webcast. He adds that process manufacturing organizations such as oil and gas, utilities, and chemicals must manage this level of investment in an environment of constrained capital markets, erratic supply and demand, aging infrastructure, heightened regulations, and declining global skills. In the following interview, Graham explains how the right enterprise project portfolio management (EPPM) technology can help the industry meet these imperatives. Project Portfolio Management Solutions for Capital Projects

Q: Why is EPPM so important for today’s process manufacturers?
A: If the industry invests US$38 trillion without proper cost controls in place, a huge amount of resources will be put at risk, especially when it comes to cost overruns that may occur in large capital projects. Process manufacturing companies must not only control costs, but also monitor all the various contractors that will be involved in each project. If you’re not managing your own workers and all the interdependencies among the different contractors, then you’ve got problems.

Q: What else should process manufacturers look for?
A: It’s also important that an EPPM solution has the ability to manage more than just capital projects. For example, it’s best to manage maintenance and capital projects in the same system. Say you’re due to install a new transformer in a power station as part of a capital project, but routine maintenance in that area of the facility is scheduled for that morning. The lack of coordination could lead to unforeseen delays. There are also IT considerations that impact capital projects, such as adding servers and network cable for a control system in a power station. What organizations need is a true EPPM system that’s not just for capital projects, maintenance, or IT activities, but instead an enterprisewide solution that provides visibility into all types of projects.

Read the complete Q&A here and discover the practical framework for successfully managing this massive capital spending.

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.

Thursday Aug 08, 2013

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

Logo

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.

Date:
Tuesday, August 20th, 2013

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

Friday Jul 27, 2012

Fuel Your Bottom Line Through Successful Project Management

Effective project management is essential for the success of your business, so you need real-time visibility into each step of the project lifecycle. This is especially true in the oil and gas industry, where companies are struggling to maintain profitability in the face of growing costs, risks, and regulations.

That’s why leading global oil and gas companies rely on Oracle's Primavera enterprise project portfolio management (EPPM) solutions. Discover how you can use this solution to successfully plan, build, and manage your projects, as well as fuel your bottom line.


 Gain Insight

In the oil and gas industry, companies are struggling to deal with change in every sector and at every level.

  • When and where should you rebuild older infrastructures and incorporate new technologies to unlock upstream and downstream production?
  • How can you control the soaring costs of exploration, production, and even raw materials?
  • How can you effectively plan and execute projects to ensure competitive advantage now and in the future?
  • How can you attract and keep talented, skilled labor as the baby-boom generation heads into retirement?

To help find the answers, many industry leaders are standardizing their project planning and portfolio management activities with the help of EPPM solutions, such as those from Oracle.

Oracle’s Primavera solutions seamlessly integrate with your existing asset management and ERP systems to provide rich capabilities for unified enterprise reporting, real-time data exchange, and comprehensive risk analytics. This gives you the transparency you need to maximize operating efficiencies, reduce costs, and effectively cope with change. Learn more in this white paper.

Sunday Apr 01, 2012

Building in Change: Project Construction in Asset Intensive Industries

According to a recent survey by the Economist Intelligence Unit, sponsored by Oracle, only 51% of project owners rated themselves as effective at delivering their projects to scope, budget, and schedule when confronted with change. In addition only 43% rated themselves as effective at anticipating potential change.

Even with the best processes and technology in place, change is often an unavoidable part of the construction process. How organizations respond to change can mean the difference between delays and cost overruns, and projects being completed on schedule and on budget.

Implementing Enterprise Project Portfolio Management and using a solution to help manage and automate those process can help asset intensive organizations:

  • Govern project and program compliance and regulatory requirements for project success
  • Unite project teams and stakeholders through collaboration and strong feedback methods to speed project completion
  • Reduce the risk of cost and schedule overruns and any resulting penalties to deliver on time and on budget
  • Effectively manage change throughout the project life cycle
  • Ensure sufficient capacity, utilization, and availability of people, skills, and other resources to meet commitments.

The results of the recent EIU survey, sponsored by Oracle:"Building in Change: Project Construction in Asset-Intensive Industries", will be revealed in an upcoming webinar with Hart Energy / Oil & Gas Investor, featuring the Economist Intelligence Unit and Oracle on April 11th at 1pm CST.

Click here for further information or visit http://www.oilandgasinvestor.com/

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