|
Value Improvement Practices |
|
Large process organizations
have adopted the use of a “family” of best practice Value Improving
Practices, also known as Value Improvement Practices (VIPs), to enhance their project planning, delivery
and operation. There is a core set of industry accepted VIPs and there are
some additional VIPs used by different organizations and the TEAM FOCUS
Group.
Typically, VIPs are
applied within an organization's formal, gated project management process.
There can be some overlapping of individually applied VIPs. Several of
these objectives may be achieved quickly and
effectively through integration
within The TEAM FOCUS Group Value and Risk Management process.
 |
Example application areas
|
|
oil and gas,
|
|
|
petrochemicals,
|
|
|
chemicals,
|
|
|
manufacturing,
|
|
|
pharmaceuticals,
|
|
|
transportation, |
|
|
water and wastewater treatment. |
|
The TEAM FOCUS Group
provides the following VIPs in conjunction with our Value and Risk Management
services:
Click on the VIP names for
further information |
|
|
|
|
|
VIP |
|
Objective |
|
A. |
Class of Facility Quality |
|
|
|
Definition of the
best value facility classifications to meet the Business Plan
requirements in terms of specific aspects. |
|
|
B. |
Technology Selection |
|
|
|
Identification and evaluation of the technology most appropriate to
meet the defined business need |
|
|
C. |
Process Simplification |
|
|
|
Reduction of unnecessary investment and operating processing costs. |
|
|
D. |
Design to Capacity |
|
|
|
Avoidance of over-sizing components and systems to meet the defined
business need. |
|
|
E. |
Design to Cost |
|
|
|
Controls Cost throughout
the design process by defining not-to-exceed cost targets for each
system or sub-system of the project or product. |
|
|
F. |
Waste Minimization |
|
|
|
Reduction of waste at source and re-use of waste for
cost-effectiveness. |
|
|
G. |
Customized Standards / Specifications / Practices |
|
|
|
Customizing of standards, specifications and practices that are
appropriate to the application and not excessive to the defined needs
of the specific facility. |
|
|
H. |
Energy Optimization |
|
|
|
Maximization of total return on investment by judicious selection and
use of plant utilities and equipment. |
|
|
I. |
Facility Optimization |
|
|
|
Reduction in overall return in investment and operating costs by
combining or making unnecessary one or more chemical or physical
processing steps. |
|
|
J. |
Constructability |
|
|
|
Analysis of a design by experienced construction personnel to reduce
costs and save time during construction. |
|
|
K. |
Value Engineering |
|
|
|
Identification of alternatives for meeting functionality and quality
requirements at the least life-cycle cost. |
|
|
L. |
Strategic Master Planning |
|
|
|
Needs
identification and alignment of organization and long range
infrastructure development. |
|
|
M. |
Life Cycle Value Impact Assessment |
|
|
|
In
conjunction with external stakeholders, a triple bottom line (social,
environmental and financial) approach to determining most appropriate
solution for the total life cycle. |
|
|
N. |
Systems Optimization |
|
|
|
Efficiency reviews to optimize an in-service process or facility. |
|
|
O. |
Reliability Improvement |
|
|
|
Provide
an effective way to cost justify maintenance activities, decrease
equipment downtime and identify solutions with a high return. |
|
|
P. |
Risk Assessment & Management |
|
|
|
Risk-based
decision making and management of risks. |
|
|
Q. |
Supply Chain Optimization |
|
|
|
Integration of the entire
supply
chain (e.g. suppliers and installers) for full potential in terms of
optimizing cost, schedule and quality. |
|
|
R. |
Partnering |
|
|
|
Trust
based process that focuses owner and service provider(s) on creative
cooperation and avoidance of confrontation for mutual financial
benefit. |
|
|
S. |
Performance Criteria & Measures |
|
|
|
Performance Criteria and
Measures allow stakeholders to explicitly model required performance
(e.g. functionality, schedule, various impacts, etc.) for a specific
situation and use the model to evaluate alternate solutions,
independent of cost. |
|
|
|
|
|
|
|
|
|
There can be some overlapping of individually applied VIPs. Several of
these objectives may be achieved through integration within the Value and
Risk Management process. |
| |
