A pacesetter analysis is performed at approximately the midpoint of the project definition phase of a capital project. The objective of the pacesetter analysis is to give the project team an early interpretation of the inputs and expected outcomes and to provide specific recommendations for the successful completion of the critical project definition phase. The analysis provides the project team with an analysis of the project's current status of the Front-End Loading Index, use of applicable Value Improving Practices, and Team Development Index. The pacesetter analysis also provides industry average performance benchmarks for critical project outcome metrics including the estimated cost, planned schedule duration, and expected operability performance for the project.

HOW CAN YOUR COMPANY BENEFIT?

The pacesetter analysis provides the project team with a clear discussion of the project's current level of definition and its use of Industry Best Practices. The analysis also outlines the critical deliverables needed to achieve the Best Practical level of definition at the end of Front-End Loading. As part of the analysis, IPA provides lessons learned from similar projects executed by other companies, which give the project team insights not available from any other source. Our clients find that pacesetter analyses are especially useful because they establish a roadmap for the project team to follow as it works through the last stage of project definition. Our data show that projects that undergo a pacesetter analysis typically reach better levels of definition at the end of Front-End Loading than do projects that did not have the early evaluation.

PACESETTER DELIVERABLES

IPA delivers a written report detailing the results of the pacesetter analysis. The report includes an overview of the project background and scope, assessment of the project inputs, comparisons of the planned outcomes with industry averages, conclusions of the analysis, and recommendations based on the analysis results. The report provides detailed discussions of the basis of comparison used in the analysis, lessons learned that have been collected from comparable projects, and any previous IPA research studies that are applicable to the evaluation. The report is developed using both detailed text and graphics. IPA will also deliver a separate briefing to the project team if requested.