Despite investing large sums of capital in modifications and turnarounds, these projects often sustain significant overruns in schedules, budgets, and meeting team completion goals. Cost overruns on projects can range from $750,000 – $2,000,000 per day. One of the key areas of opportunity is in streamlining work execution. Effective wrench time in capital projects across industry is no more than 30%. Waiting on work permits 1-2 hours/shift is not uncommon. Megaprojects are both complex and massive. With a robust framework for project delivery, small issues can quickly turn into multi-million dollar overruns.
Just 31% of all projects came within 10% of the budget in the past 3 years.
From Concept and Design, through Construction, Startup and Operate – OS is here to help. Our technology puts the shared knowledge of your people and the proven expertise of our people into one integrated system – and then puts it to work on your project.
OS routinely saves clients up to 15% on capital projects by leveraging our knowledge of how to front-end load. Whether you are conducting shutdowns, turnarounds and overhauls (STO) or undertaking a major capital project, OS solutions can save you millions of dollars.
OESuite® enables companies to address all of the critical stages of a capital project from feed design to startup and handover
Main Applicable PSM Elements
- Process Safety Information – Developed throughout the project phases
- Management of Change – Heart of project risk control
- Process Hazard Analysis – Heart of MOC
- Operating Procedures – Developed in the last phase of project
- PSSR – Highly hazardous chemicals enter and before production
- Emergency Planning and Response – Process Operation, Layout, and Design must be considered ahead of time
Human error can be reduced by addressing PSM early in the project development. Human factors and project risk management are not covered by OSHA PSM elements. Addressing these risk factors helps improve quality and reliability.
The OESuite® capital projects management software comes with out-of-the box integration to our Shutdowns / Outages / Turnarounds module to enable project controls and comprehensive orchestration. The result… manage your Operational Risk and Execute more efficiently.
OESuite® Business Benefits for Capital Projects