Very often commercial and industrial decision-making whether to outsource or not is governed by the time value of money, cost savings, and potential for productivity increases. But what if we look at another dimension, that is the opportunity to explicitly buy time? Who doesn't want more?!
Back in the 70s when I graduated with an engineering degree, a large percentage of the new graduates went to work for manufacturing companies. A certain percentage went on for advanced degrees and ended up in research positions and academia, but much of the research was carried out by private companies building their own IP portfolios. The exception to this was civil, structural and architectural graduates who might end up working for private engineering and design firms.
Communication is one of the most significant factors in any kind of successful venture. Whether it's operating a business or executing a capital project, communication among team members and between stakeholders is critical. Clarifying understanding, and enabling trust and confidence, are just a few of the critical benefits of optimized communication. This blog post is intended to explore the application of effective communication, specifically in capital projects.
Topics: Project Management
I recently sat with a couple of our top project managers here at Optimation. The subject was project management: risk assessment and mitigation. Risk is a big deal here. Very often our clients hire us to help manage their project risk. This can come in the form of scope, schedule, or budget dimensions, each of which poses its own unique challenges to a client's ability to achieve their goals when undertaking capital projects.
Topics: Project Management
A phrase that often gets used when projects go awry is "unintended consequences." On the surface it's a simple-enough statement, declaring that there were outcomes to some actions taken that (usually) ran counter to the intent of the project, and generally they were not desired. In other words, "some bad things happened that we did not expect."
In recent past articles, we have enjoyed blogging about some of the aspects of how to successfully undertake and deliver capital projects. We have noted that a sound methodology to accomplish this can be found in a process we dubbed “Phases and Gates,” where the project work that streams from the customer’s initial project request for an installed and commissioned solution is divided up into manageable steps with predetermined decision points. Our content has talked about the need for Requirements, the benefits of Conceptual Design, and the case for Preliminary Engineering.
In our ongoing discussions about executing capital projects in the Process Manufacturing segment, we have described methodologies and shared tips for the first steps or phases in the overall project workflow that results in an installed solution.
Sometimes, the right thing to do is say "no" and walk away.
Sometimes it is not what you say, but how you say it. In the engineering services world, we live by requirements (what you say – or write). Sometimes we create the requirements for or with our clients, and other times we write a proposal in response to the requirements and define a project to meet them.