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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.