The COVID-19 pandemic has resulted in major uncertainties for both capital projects and turnarounds in the energy and downstream industries. Projects and turnarounds are being halted, deferred, or reduced in scope in profoundly altered circumstances. The crisis might also have the effect of contributing to a heightened awareness of the need for effective risk management.
Many capital-intensive Australian companies are losing money as a result of poor execution of key maintenance activities. Like a small leak that is not properly closed, the drain on the balance sheet is slow but devastating.
To improve the value of projects, owners need to focus on the right measures of success.
Optimization for timetables of turnarounds is more important now than ever before, according to analysts at AP-Networks. Long-range planning done well with effective strategy and scope can level staffing needs and risks, improve budgets and schedules.
Capital project work as a percent of turnaround work has grown from just 2% in 2006 to more than 20% in 2016 and 2017, according to AP-Networks
Petrochemical and refining turnaround teams can significantly improve cost, schedule and management of their turnaround and capital projects if they turn to next evolution best practices; such as scope index benchmarking, effective site leadership, contract strategy, risk-based scope reviews, and schedule optimization.
Is there a connection between AP-Networks' Turnaround Value Practices (TVPs) and the breakbulk logistics industry?
With extensive data and expertise on turnarounds and capital projects, AP-Networks helps global energy and chemical companies stay competitive.
Day Two of TINC America 2016 kicked off this morning with the always enlightening expert panel.
After a welcome reception last night, the 14th Annual TINC America got off to a great start this morning in Houston, Texas. Managing Director Brett Schroeder welcomed attendees, and looked back on all that has been accomplished throughout our industry in the time since TINC began.