IPA offers a full suite of services to support the individuals responsible for managing a company’s capital project system. The services range from Quantitative Benchmarking and Re-engineering to Organizational Assessments. IPA also holds both the Industry Benchmarking Consortium (IBC) and Cost Engineering Committee (CEC) for downstream projects and the Upstream Industry Benchmarking Consortium (UIBC) and Upstream Cost Engineering Committee (UCEC) for upstream projects.
The first step toward improvement is establishing current performance. A Quantitative Benchmarking determines the project system’s competitive position along with its strengths and weaknesses. IPA can periodically re-benchmark the project system to understand whether changes made to address the weaknesses have actually resulted in better performance.
IPA can help a company re-engineer its project system work process and project organization. The basis of the work is IPA research on Best Practices for each project phase, Organizational Assessment, and gatekeeping.
IPA’s Organizational Assessment tool can help your project organization more effectively develop and implement its capital projects by examining your personnel, work process, and organizational structure to ensure Best Practices are being used.
Both the IBC and UIBC provide independent forums for each participating company to view its performance against other companies' performance. The consortia also highlight Best Practices used and reinforce their use to improve capital effectiveness. The CEC and UCEC aim to improve business results by enhancing the project controls function through sharing practices and providing data for research and metrics.