Tag: Oil & Gas

Capital Project Challenges

Operating with inefficient processes and lack of accountability within projects causes increased man-hours, schedule slippages and the inability to identify and track project issues. ProjecTools allows users to enforce workflows across disciplines such

Capital Project Challenges and Consequences

Oil & Gas, Energy, and Capital construction projects are among the most complex in the world. They deserve more attention to detail than spreadsheet-based project management systems can give. That is why it is important to address the most fatal capital project challenges and consequences before they cripple your projects.

Engineering-centric projects (Oil & Gas, Engineering Procurement Construction, Architecture, Capital Construction, Aerospace, Etc.) face constant change and a competitive global market. To stay current and drive growth, companies must overcome relentless capital project challenges and consequences, including:

Lack of a Standardized, Enforced Workflow

Operating with inefficient processes and lack of accountability within projects causes increased man-hours, schedule slippages and the inability to identify and track project issues. ProjecTools allows users to enforce workflows across disciplines such as procurement, commissioning, etc. The end result is that managers and executives can efficiently track performance down to individual user’s tasks, generate invaluable reports (late action, discipline progress, status, and earned-value) to prevent financial loss, keep schedule, and maintain accountability.

Inaccurate and Incomplete Data

Poor communication and lack of organization are core capital project challenges that prevent success. Missing data, incomplete data and inconsistent reporting errors produce confusion, project delays, and lost credibility with clients as consequences. ProjecTools enforces workflows and ensures no steps are skipped or repeated unnecessarily and allows users to communicate consistently with clients. A central document repository and system-enforced processes prevent information mismanagement and loss. Leverage previous project knowledge, structure and experience to develop effective, efficient, repeatable processes with ProjecTools.

Inability to scale

Spreadsheets and siloed departments lack the flexibility, scalability and consistency required by today’s Oil & Gas asset owners and operators. These limitations lead to profit-killing mistakes that devastate reputations and paralyze company growth. ProjecTools provides scalable and proven project management tools to satisfy even the largest and most demanding client needs.

Poor Access to Information and Data

Today’s complex projects span the globe with team members and contractors in multiple locations and time zones. The consequence of using an outdated system that can’t accommodate is delayed access to project information and missed deadlines creating serious obstacles to successful project completion. ProjecTools web-based system gives users real-time access to the project information they need whenever they need it.

Capital Project Management Trends

Technical complexity and increased government regulation require companies to be more vigilant than at any time in history. In this era of costly litigation and skyrocketing compensatory and punitive judgments, firms must be able to

Capital Project Management Trends

Oil & Gas, EPC, Rngineering, Construction, Architecture, and Infrastructure projects are changing. You can either adapt and prosper or get left behind.

Capital project management trends include increasing technical complexity and increased government regulation. This requires companies to be more vigilant than at any time in history. In this era of costly litigation and skyrocketing compensatory and punitive judgments, firms must be able to prove each team, supplier, and subcontractor has performed responsibly and consistently throughout execution.

Superior risk management is attained through standardized and controlled processes, which provide precise auditable results. Any authorized member of your team can use ProjecTools to access and report project information. Whether your project spans multiple countries or just one, is on land or offshore, uses dollars or euros, ProjecTools software gives you the tools to efficiently and successfully manage today’s complex project landscape to deliver superior quality, safety, and profitability.

Globalization is another capital project management trend that greatly affects the quality, schedule, and profitability of projects. Project managers are leveraging teams spread across the globe because they are great in terms of diversity of experience, problem solving and initial cost estimate. These project managers are finding a major gap in the strategy, however. The gap arises from the fact that globalization of teams, professionals, and supply chain has outpaced the tools that integrate these teams. This is making way for costly situations where engineers are working on the wrong things, suppliers are working from superseded revisions, and progress and status reporting is left to the individual units. These are what we call siloes. The result of these siloes is confusion that creates rework, duplicated effort, delays, overruns, change orders, and other profitability killers.

ProjecTools software is the only capital project management software in the AEC/PPM market that was built to specifically address complexity, risk management, and globalization challenges. The system does so by integrating all project information and teams into a single system to eliminate the siloes, confusion, and disorganization that hurts project performance.

Leverage ProjecTools industry expertise to buck the capital project management trends and mitigate risk to stop losing profit to avoidable project management challenges.

Request a personal demo of ProjecTools – the most reliable, efficient project management tool that understands capital project management trends.