July 18, 2016 by AP-Networks Leave a Comment Dr. Shawn Hansen discusses ways to measure and improve small plant-based capital project performance in the downstream energy sector According to market research firm Industrial Info Resources (IIR), capital project spending in the U.S. refining industry will remain high for the foreseeable future, with $9.2 billion worth of capital projects scheduled for 2016, and $9.3 billion worth scheduled for 2017. With smaller capital projects making up a greater portion of this spending than ever before, the question of which projects to prioritize has become critical. As AP-Networks Manager of Capital Project Consulting Dr. Shawn Hansen discussed at the Petrochemical Engineering and Construction conference last month, “Prioritizing [smaller, plant-based] projects can be quite complicated, even more complicated than in the large projects.” Many organizations focus on evaluating the cost and schedule compliance of individual projects, but Dr. Hansen argues that this approach misses the bigger picture. Rather than focusing on the cost and schedule of individual projects, emphasis should be placed on choosing projects that will have the biggest impact on the organization’s ability to deliver the promised benefits—whether they be safety, environmental, or payback projects. To choose “high-value” projects accurately, Dr. Hansen encourages organizations to look beyond individual projects to the overall project portfolio, aligning the project plan with the wider needs of the business. Petrochemical Update recently ran an in-depth breakdown of Dr. Hansen’s presentation on their website. To learn more about prioritizing small, plant-based projects, read the full article here.