What We Do

IPA’s North America office works to improve the competitiveness of clients in the United States, Canada, and Mexico by enabling more effective use of capital in their businesses.

Recognized worldwide as the industry leader in the quantitative analysis of capital project effectiveness, IPA provides project evaluation, benchmarking, research, and education services to guide business leadership and project teams in developing and executing successful capital projects. This includes small, site-based projects valued less than US$1 million to multi-billion dollar megaprojects, and everything in between.

IPA’s North America client base includes companies representing the following industrial sectors:

  • Oil and gas exploration and production (onshore and offshore)
  • Hydrocarbon processing and transportation (includes refining and pipelines)
  • Commodity chemicals
  • Pharmaceuticals and biotech
  • Food and consumer products
  • Mining, minerals, and metals
  • Paper production
  • Power generation and distribution

Our Approach

IPA’s approach to improving the performance of a capital project or system is simple and effective. IPA has developed detailed, carefully normalized databases that contain data about the entire project life cycle. Using these data, IPA has developed powerful statistical tools that enable project performance comparisons in numerous areas.

With the advantage of using actual industry data, IPA analysis findings are used to provide clients with an empirically grounded, industry-wide benchmark for assessing and comparing project outcomes, and the quality of the project systems that produce those results.

IPA uses these same databases, analysis, and industry observations for its client-driven research projects and subscription publications. Educational materials prepared by the IPA Institute are also designed using these same databases and research findings. IPA produces quantitative research findings and instructional courses based on a collection of real capital project inputs and insights that are unmatched by other consultancies.


IPA provides capital project performance measurement, evaluation, research, and educational services for industry clients worldwide.

Exploration & Production
IPA has established itself as the world’s leading advisory firm on capital projects. An experienced cadre of E&P project professionals and researchers enables IPA to tackle clients’ most complex project issues.

Capital Project Evaluation
IPA uses its group of models and databases, known as the Project Evaluation System (PES®), to provide the following services to clients: Individual capital project evaluation; Competitive benchmarking; Capital project management system assessment over time.

IPA’s Project Research Division (PRD) brings a deep understanding of what drives the successful development and delivery of capital projects. Companies who turn to IPA’s research services receive practical insights and actionable recommendations to strengthen capital project business decision making, governance, and project development work processes.

Training & Education
The IPA Institute, a division of Independent Project Analysis (IPA), develops and delivers educational seminars to further IPA's mission to improve capital productivity. IPA Institute courses are derived from IPA's extensive research and quantitative analysis of capital projects, linking statistically proven Best Practices to business value.

Site and Sustaining Capital
IPA’s Site and Sustaining Capital services group is dedicated to improving the capital effectiveness of site-based project systems across all industrial sectors. Site and Sustaining Capital services cover site-managed small capital projects of several types valued US$10 million and less, including revamps, add-ons, expansions, turnarounds, and greenfield/co-located.

Organizations & Teams
The Organizations & Teams group offers services to help clients strengthen their capital project teams and make more effective use of information across all levels of a project organization. Work in this area spans all industry sectors, organization types, and project types and sizes.

Cost Engineering
The Cost Engineering group focuses on understanding what estimating practices drive capital project performance outcomes, based on the analysis of industry clients’ project evaluation and benchmarking data.

Subscriptions & Original Publications
Highly-focused original publications enable IPA to share with existing clients new research into critical areas of capital project development.

Project Assessment Software
The FEL Toolbox is software developed by Independent Project Analysis (IPA), Inc., that allows companies to self-evaluate the level of definition of small capital projects, ones valued US$20 million or less. Companies that regularly benchmark a cross-section of their small projects with IPA can license the software.

Regional Highlights

 Airport Construction Maintenance Project IPA 1200x627

Cost Overestimates a Detriment to Airport Construction & Maintenance Projects

The construction and renovation of airport terminals and flight operations facilities worldwide represents a large portion of the capital being spent on infrastructure projects today. Read More

No Measure, No Change: Project System Change Management Observations from the Field

For companies initiating capital project system change management efforts, having a measure of success is critical.

By Paul Barshop, Director, IPA Capital Solutions

I sometimes feel like a war correspondent embedded on the front line...

Read more ...
Effective Site-Based Project Portfolio Execution Requires Owner, Contractor Staffing Balance

By measuring site project performance and hiring the right owner personnel, site-based capital investments can deliver greater value for business.

By Lucas Milrod, Deputy Director of Research, IPA Organizations & Teams Services
and Jay Russo, Research Analyst, I...

Read more ...
Hurricane Harvey—What Does It Mean for Capital Projects?

At the request of companies with capital projects in the U.S. Gulf Coast region, IPA is examining the likely effects of Hurricane Harvey on the capital projects market.

By Phyllis Kulkarni, IPA Regional Director, North America

The 2017 Atlantic hurricane season has forever affected mi...

Read more ...

Key Contact

Phyllis K square 1Phyllis Kulkarni
Regional Director, North America


Phyllis Kulkarni oversees IPA’s North American operations, which serves clients in the United States, Canada, and Mexico. Prior to becoming Regional Director, Phyllis served as Manager of Plant-Based Systems. She has been with IPA since 2002.



44426 Atwater Drive
Suite 100
Ashburn, VA 20147

Main Phone

+1 703-729-8300












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