Capital Project Best Practices: More Construction for Your Money

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James B. Porter, Jr., Principal Consultant for DuPont Safety Resources, discusses project best practices and how to deploy them. For more visit, http://chenected.aiche.org

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  • DuPont’s core values are the compass points that guide the company in all its decisions. They are not optional but form the foundation of everything we do.
  • Capital Project Best Practices: More Construction for Your Money

    1. 1. Capital Project Best Practices “ More Construction for Your Money” Jim Porter
    2. 2. Objective <ul><li>This linked webinar will discuss: </li></ul><ul><li>1. Project best practices and how to deploy them to ensure safety and the most business effective expenditure of resources (people, money, and time). </li></ul><ul><li>2. How to assess the state of project development and whether it is ready for authorization. </li></ul>
    3. 3. Agenda <ul><li>Webinar Objectives </li></ul><ul><li>Core Values </li></ul><ul><li>Business Impact </li></ul><ul><li>Project Work Processes: </li></ul><ul><li>- Who? </li></ul><ul><li>- What? </li></ul><ul><li>- When? </li></ul><ul><li>- Where? </li></ul><ul><li>- How Much? </li></ul><ul><li>- How? </li></ul><ul><li>- Who? </li></ul><ul><li>Improvement Sustainability </li></ul>
    4. 4. Core Values <ul><li>Safety and Health </li></ul><ul><li>Environmental Stewardship </li></ul><ul><li>Highest Ethical Standards </li></ul><ul><li>Respect for People </li></ul>The Goal Is “Zero”
    5. 5. Differential Capital Allocation R O I C - Drive Earnings/Cash - Manage Share - Grow Modestly - Renew or - Maximize SVA - Maximize SVA - Shrink Investment - Time Exit/Participation - Grow Aggressively - Expand Customer Base - Innovate - Encourage/Track Closely - Manage Margin Improve - Expand Customer Base - Nurture and Grow - Make the Calls Support Facilities Growth (Historical Potential )
    6. 6. BUSINESSES E N G I N E E R I N G WHAT WHEN WHERE • Businesses Lead Cross Functional Project Teams to Do FEL and Determine “What, When, Where and How Much.” • Engineering Develops the Most Competitive “How and Who” and Supports FEL and Project Execution. • Requires Mutual Accommodation and Collaboration to a Higher Degree than Ever Before. Project Work Processes How Much How Who
    7. 7. Seven Critical Success Factors 2: Manage Teams for Success 6 : Ensure SHE Excellence 1 : Set Up Teams for Success 3 : Front-End Load Opposite Business Goals 7 : Execute Project With No Changes 4: Utilize Competitively Superior Technologies 5 : Minimize Non-Value Adding Investment How? Project Timeline
    8. 8. Delivery Effectiveness Strategy Shift From Coopetition Leveraged Resources Contractors/Suppliers Operations Resources To Collaboration Operations Resources Leveraged Resources Contractors/ Suppliers
    9. 9. Reflections… <ul><li>Owner’s engineer must see business processes holistically. </li></ul><ul><li>Businesses must see engineering as a key. component of their financial success. </li></ul><ul><li>Best practices define the pathway and guarantee good results. </li></ul><ul><li>Owner leadership cannot be delegated. </li></ul>If you are an AIChE member you can view the webinar in its entirety with ChemE on Demand credits.

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