Operability is a measure of how well a facility operates. Operability has the highest impact on the internal rate of return of a project, even beyond its capital cost. IPA’s Operability Assessment is a product that can asses the operability performance of a project after at least 1 year of operability data are obtained. These analyses are based on an IPA model that provides a predicted operability of a project based on specific project practices. This model is based on IPA research into the setting of operability goals, the effect of project practices on operability, and the basic project characteristics that drive technical losses during the period. This allows the project team to compare the actual operability of the asset against the industry average for projects of similar size.
Operability Assessments are typically performed once the project has at least 1 year of operability data after mechanical completion.
The Operability Assessment includes an evaluation of the project’s planned and actual operability performance. It will also compare this performance against that of similar industry projects.
The Operability Assessment gives a project team an understanding of the possible drivers of a project’s operability. Teams and business can then use this information and the Best Practices to set better operability goals and achieve better operability for specific types of projects (revamp, new technology, etc.).
A short workbook and spreadsheet will be completed by the project’s operations group. IPA will then hold a face-to-face interview with the operations and maintenance personnel of the facility to ensure the accuracy of the data received, which typically lasts less than 4 hours. Depending on the size and scope of the project, the plant manager could also be involved in the interview.
IPA will deliver a short form report that will discuss the Operability Assessment. This will include a comparison of the project’s operability results against the industry average operability results for a similar project, operability Best Practices, and recommendations and/or lessons learned for future projects. A separate briefing can also be prepared and delivered on request.