IPA’s customized Asset Optimization Workshop (AOW) is an early evaluation of Concept Selection to assist companies in balancing appraisal, trade-offs, and design and functionality aspects of asset development. The workshop uses our research and metrics and proprietary Pathways to Asset Success model.
The aim of the workshop is to steer development projects through Front-End Loading (FEL) 2 so that they emerge with a concept chosen in an unbiased manner that is free of unknown functional trade-offs and incorporates design and functionality that consider the quality and amount of subsurface and well construction data.
These workshops are typically held at the beginning of the Concept Selection phase (FEL 2); the best time to hold a workshop is about 3 to 6 months after entering Concept Selection. These workshops can also be combined with an internal project initiation or project kick-off-type workshops.
The AOW reviews a number of functional elements that have been empirically shown to correlate with cost, schedule, and production resource recovery outcomes. This includes:
Through an AOW, teams and businesses gain the essential knowledge and the data required to organize, plan, and execute successful Concept Selection and provide the foundation for making optimal, unbiased decisions.
After the workshop, teams should be able to answer the following questions:
Teams also benefit from the illustrative roadmap that is delivered as it will help guide them through the early decision making for the asset.
The workshop is typically held over 2 days. A meeting between IPA and the project manager is first arranged to customize the workshop to the project’s needs and emphasize the areas critical to the project. As part of this meeting, the team shares with IPA the available project data. After each factor is discussed, we use a breakout session to cover metrics and analysis results for your project and to understand how those results may or may not alter scope and execution decisions. Tools are provided to guide the team through the process.
The workshop produces a precedence diagram or roadmap of the work to be completed, which is customized to the team’s and project’s needs using the metrics and information from the breakout discussions. We also provide tools for examining the effectiveness of the appraisal, evaluating team alignment and communication, and planning an appropriate FEED duration.