It examines the current state of cost estimating techniques in the field of process facility maintenance turnarounds and offers suggestions on how to improve cost estimate accuracy, by adapting ideas from the capital project world.

This article discusses the importance of turnarounds to the bottom line, the special challenges associated with Oil Sands turnarounds in Alberta, and the practices that can lead to superior performance. The data presented are based on an industry dataset of recent (past 5 years) turnarounds in the industry. The dataset contains more than 500 refining and chemical turnarounds from across the world. More than 25 of these turnarounds are from Alberta, including Oil Sands.

Plant turnaround economics are highly complex. There are many variables which impact the overall business performance of a turnaround and multiple trade-offs need to be considered. Decision-making in this very dynamic environment however has often been based on assumptions. This paper explores the fundamental relationships between the major cost-contributing factors such as shift-patterns, labor productivity, and turnaround duration, fixed costs, quality and lost opportunity costs. Once basic relationships between these variables are established the paper then proposes a generic turnaround trade-off model and a case study is then presented to illustrate –through the use of sensitivity analysis- the impact of specific trade-off decisions upon overall economic viability of the turnaround. This research study is based on more than five hundred turnaround events with detailed performance data.

Plant turnaround economics are highly complex. There are many variables which impact the overall business performance of a turnaround and multiple trade-offs need to be considered. Decision-making in this very dynamic environment however has often been based on assumptions. This paper explores the fundamental relationships between the major cost-contributing factors such as shift-patterns, labor productivity, and turnaround duration, fixed costs, quality and lost opportunity costs. Once basic relationships between these variables are established the paper then proposes a generic turnaround trade-off model and a case study is then presented to illustrate –through the use of sensitivity analysis- the impact of specific trade-off decisions upon overall economic viability of the turnaround. This research study is based on more than five hundred turnaround events with detailed performance data.

This article discusses how risk management can aid in projects success. It looks at the potential gain from good risk management, examines some typical risks that recur regularly on projects, and offers a suggested methodology for managing project risks.