In the second post of the series we looked at some of the main challenges facing energy companies in the delivery of projects by drawing on evidence from a recent report by Accenture consulting. In this piece we consider what approaches are needed to address these challenges.
The primary requirement is to optimise the various business processes so that the most efficient outcome is achieved. There are a number of different ways in which this can be executed and involves:
• Data Management – capability to receive consistent data capture by project managers in a streamlined way which provides real-time project status updates.
• Portfolio Visibility – requirement for a holistic view of the full portfolio of projects with all key performance data stored in one place so that a consistent comparison can be made between investments.
• Operational Efficiency – ability to integrate and optimise decision making across the project cycle so that resources are allocated efficiently and most value created.
• Project Monitoring – application of a consistent reporting framework so that project progress can be tracked regularly against set baselines and milestones and project risks clearly identified and monitored.
• Financial Appraisal – configuration of a robust finance function to underpin key management decisions by giving visibility of capital requirements and performance.
In the final post of the series we will look at how Enverian provides solutions to integrate these different approaches into the decision-making process.
Posted: August 8, 2012