October 21, 2019 by AP-Networks Leave a Comment From Petroleum Technology Quarterly | Revamps Supplement Find more information here. Improve the value of plant-based project portfolios by Shawn Hansen and TJ Felts Click to read full article Refineries, chemical manufacturing facilities, power generation facilities, and other industrial plants seem to have an unlimited supply of justifiable projects. Many are driven by regulatory, safety, or other operational needs. Many are discretionary, seeking high returns (typically measured by internal rate of return [IRR] or net present value [NPV]) trying to capture a market opportunity. In examining these projects in Industry, our research shows that more than half of these plant based projects do not meet their business objectives. Furthermore, our research indicates that by improving project categorisation, prioritisation, and selection, many owners can reduce their expenditure on plant based projects by 25% and still achieve the plant’s objectives for health, safety, and environmental (HSE) and reliability. Implementing other portfolio focused and project focused best practices could potentially reduce expenditures by another 15-20%. With many sites spending between $50 million and $100 million annually on these plant based capital projects, the potential savings would have a tangible impact on the bottom line. Click the button below to read the full article. Click to Read Full Article