IPA research has firmly established that the quality of Front-End Loading (FEL) directly correlates with the outcomes of capital projects. The better the FEL, the more likely that a project will be a success. Unfortunately, few companies have the expertise or the impartiality to properly assess the quality of a project’s definition.
IPA’s FEL Toolbox allows companies to measure the quality of project definition for small capital projects ($10 million or less) that do not warrant a full IPA analysis. Rather than wonder how your small project stacks up against other projects in the industry, find out exactly where it stands with IPA’s FEL Toolbox.
IPA’s FEL Toolbox is a software solution developed by IPA to provide project teams with a ready-made, easy-to-use application to measure FEL. This software is for projects that are less than $10 million that represent the installation of capitalized, off-the-shelf material assets. FEL Toolbox can be used to evaluate small projects from their early stages to full-funds authorization, and serves as a guide for the project team throughout the FEL process.
Using FEL Toolbox, project teams can generate a composite FEL Index rating for their project and index ratings for the three FEL components—Site Factors, Engineering Status, and Project Execution Planning. The application provides recommendations to address specific gaps in these key areas, and it identifies the best ways to reduce risks to projects.
In addition, project teams can use FEL Toolbox to benchmark their project’s definition by comparing their project’s FEL rating with FEL ratings of similar projects in the industry and other projects executed by their company.
Using an online questionnaire, project teams enter information that describes the project scope and the work that has been completed to date. The questionnaire includes “smart logic” that adapts the question to the type of project under consideration. The process is very simple, and an assessment can be generated in just a few hours using only information obtained from key project members. The assessment includes:
FEL Toolbox measures FEL for small projects on a scale that combines the following three separate components:
Each of the components is weighted to generate an FEL Index on a 3 to 12 scale, with higher numbers reflecting poorer definition.
Our software provides the following features and benefits: