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.
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.