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How to Maximize Engineering Value on Your Capital Project

Event Date
Mar 01, 2015
Type
Workshop Presentation
Research Team
RT-245
Slides
38
Topic
Optimizing Engineering Value in Projects
DOCUMENT DETAILS
Abstract
Filters & Tags
Abstract
The primary purpose of this research is to clarify and raise the industry’s awareness of the broad range of issues and drivers that influence how engineering value on capital projects can be optimized. RT-245, Maximizing Engineering Value in Projects, is follow-on research to RT-233, Planning for, Facilitating and Evaluating Design Effectiveness.  Projects fail for a wide variety of reasons. In many instances, critical aspects of engineering and design are either poorly executed or overlooked altogether. Many such failures result in excessive costs to correct deficiencies, project completion delays, unexpectedly high operating costs, and in a few cases, even loss of life.  The value that engineering contributes to capital projects is rarely maximized for a wide variety of reasons. The engineering phase can be rushed; the design team can be under-resourced; owner’s requirements can be unclear; technology can change rapidly; organizational structures can be constraining; or project objective priorities can be unclear, to name a few. In today’s project environment, maximizing engineering value requires that many issues, opportunities, and challenges be identified and confronted early in the project planning process.  The effective delivery of engineering in the project cycle can be a prime determinant of overall cost and schedule performance. Design deviations (changes, errors, omissions) account for roughly 80% of the increased costs. For this reason, RT-245, Maximizing Engineering Value, examines a wide variety of strategies through which project value from engineering can be maximized. The Toolkits referenced here are intended to provide a comprehensive and easy-to-use resource for project teams to maximize engineering value.
Filters & Tags
Knowledge Area
Design Planning & Optimization, Project & Program Management
Project Phase
Detailed Scope, Detailed Design (Engineering)
Project Function
Project Business Sponsor, Project Management, Architects & Engineering, Quality Management
Industry Group
Light Industrial, Heavy Industrial, Buildings, Infrastructure
Research Topic
Optimizing Engineering Value in Projects
Keywords
Engineering, Alignment, Project Value Objectives (PVOs), Design Effectiveness Practices (DEP), Engineering Strategy (Fundamental & Optional), Engineering Strategy Tradeoffs, Maximizing Engineering Value, Barriers to Engineering Value, rt245

Related Resources

Maximizing Engineering Value and Design Effectiveness Toolkit

Publish Date:
Oct 01, 2015
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Design Effectiveness Evaluation Tool

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Publication:
IR245-3
Optimizing Engineering Value in Projects

Maximizing Engineering Value

Publish Date:
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Publication:
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Optimizing Engineering Value in Projects

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