Technology should be seen
as a competitive differentiator
and not simply a cost of doing
business.
lifecycle, while maintaining
quality standards.
success and failure during
these uncertain times.
Simplification and effective
execution
The dynamics of the market
reflect a paradigm shift as
old plants are phased out in
Europe and Asia, while new
plants are built in the Middle
East, China, Russia and the
US Gulf Coast. This brings
great opportunities for E&C
companies.
E&Cs compete on a
global basis bidding
and executing on
complex, large-scale
projects.
Managing risk plays a key part
in the strategy to decrease
uncertainty and ensure project
estimates track to project
performance. Many E&Cs have
limited resources. As projects
unfold, companies need to do
more with less to complete
them on time. By improving
the bid process, E&Cs can win
contracts with more accurate
estimating and project
execution performance.
Project managers can reduce
risk and uncertainty by
tracking estimates against
performance. By simplifying
execution, global teams
Project managers
can reduce risk
and uncertainty
by tracking
estimates against
performance.
can contend with resource
shortages. However, this can
only be done by partnering
with vendors who can reliably
help throughout the project
Those E&Cs that can diversify
their operations from the
oil & gas sector to other
markets, like chemicals
and mining, will capitalise
on delivering high-quality,
reliable services to meet
client objectives. With the
optimism in emerging markets
and the positive effect of
technological advances,
E&Cs see infrastructure
development as pivotal to
growth. Projects are diverse,
ranging from transportation
systems, including rail, road,
air and shipping networks,
through to design and supply
of direct fired heaters,
complex construction projects
for chemicals and refining and
project execution expertise
to the minerals and metals
sector.
According to a recent study
by PwC, “engineering and
construction CEOs see
technological advances as the
top trend which will transform
their business. Many called
some aspect of technology
the “next big thing” to
impact their business,
citing everything from new
applications for formwork
to techniques to better
manage and utilise data. Most
engineering and construction
CEOs are optimistic about
their ability to keep up--only
33% are concerned about the
speed of technological change,
compared to 47% overall”.
Competitive differentiator
E&Cs compete on a global
basis bidding and executing
on complex, large-scale
projects. By having an
integrated software
environment, companies
can produce optimal plant
designs quickly and efficiently,
incorporating highly accurate
cost estimation technology.
In addition, these projects
require software that enables
significant collaboration
internally with the owneroperators. For engineers and
project managers, having
control over changes to
specifications or projects is
essential in mitigating risk.
Engineering projects need to
maintain maximum flexibility
early in the project cycle.
Issue 14 PECM
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