Assets
Asset-intensive organizations can significantly reduce the costs of decommissioning programs by applying new technologies and improved supply chain collaboration, while ensuring compliance and governance to meet regulatory requirements every time, more strict.
By not planning for the retirement phase of an asset, a company risks sacrificing resources for future projects and losing knowledge of the team of workers building/operating the asset. Knowing that planning is being met is not enough, companies need a strategy that addresses asset decommissioning around three main areas: risk/financial management, operational excellence and innovation.
- Costs control
- Integrated planning
- Risk and contingency management
- Business planning
- Automated processes
- Reporting simplification
Asset projects are long, complex and made up of many moving parts. A small change or unforeseen event can have a domino effect that can paralize an unprepared business. This is why leaders emphasize effective total project management.
• Develop business plans for all assets to be removed.
• Identify, prioritize, and select the correct order to dispose of assets.
• Predict likely outcomes and the probability of success.
• Control and manage effectively all documents.
• Capture comments and observations.
• Automate the delivery/review process.
• Manage risk and contingency for all projects in the portfolio.
• Manage risks and contingencies through mitigation plans.
• Manage the return of funds to the organization based on key milestones / stage gates.
• Manage costs from start to finish.
• Cost profile over time to provide cash flow.
• Capture of all changes during design/execution.
• Automate the process to ensure standard approach.
• Manage all documents included in the change.
The industry needs to do a better job of focusing on its area for improvement, especially when it comes to the overall workload on its projects. With the perceived lower priority of decommissioning projects in most organizations, being able to better visualize and distribute workloads across projects, while monitoring risk, becomes even more important.
