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IPA Newsletter June 2016 (Volume 8, Issue 2)

In this issue:

A Changed Landscape for the Chemicals & Petrochemicals Industry
Executing large capital projects is always challenging, but it is evident today that many chemicals companies have underestimated the complexities of the current supply chain for capital projects. To cope with increased project market risks and business pressure, project teams in recent years have increased the conservatism of their project cost targets. As a consequence, the chemicals industry has recently lost its competitive edge against its peers in the capital projects industry when it comes to spending capital effectively.

10 Things Executives Need to Know About the Stage-Gate Process for Projects
The executive role in delivering capital projects is often underestimated. Executives provide direction, supervision, and support to the teams responsible for developing and executing capital projects. A prime area executives should concentrate on to improve capital projects is the stage-gate process. What some executives lack, however, is a sound understanding of the critical elements that make the stage-gate process work well. This article presents a Top 10 List of what every executive should know about the process.

Data Show ‘Imperative’ Need to Staff E&P Project Organizations Correctly
Recent IPA research confirms and provides detailed metrics on what we, as an Industry, thought to be true: staffing your project portfolio correctly is critical to portfolio success. Understaffing, both in total and for various functions, strongly correlates with sub-optimal results on a portfolio-level.

Cost Database Benchmarking for Site-Based Projects
Cost management professionals have traditionally defined “good cost estimates” for site-based projects as estimates that are accurate and consistent across an entire portfolio of projects. But to provide a realistic view of how much a project should cost, estimates also have to be competitive with industry average cost outcomes.

Also in this issue:

  • IPA Recipient of AACE International’s Highest Corporate Honor
  • Improving Project Performance During Turnarounds
  • IPA’s Paul Barshop, Natalia Zwart Lead Talks at Petrochemical Engineering & Construction Conference
  • The IPA Institute 2016 Public Course Schedule
  • Upcoming IPA Events & Presentations

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