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| Welcome to Eikos Project Systems Limited |
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| 2nd August 2005 |
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Operators cite value of business process management.
Three references above many others inspired the early development of Eikos. Chevron, Arco and BP have provided examples where rigorous application of their in-house systems contributed to substantial financial benefits. Eikos has been designed to make these benefits achievable by other companies without having to reinvent the system.
This speech by James N. Sullivan, Vice Chairman at Chevron, explains the importance of a defined process and its value to a major corporation.
"We have a great five-step process we call the Chevron Project Development and Execution Process. We call it "CPDEP," but I’ll just refer to it as our Project Management Process from here on out.
Phase 1 of our process involves framing the business goal to be pursued and ensuring that it aligns with our business objectives.
Phase 2 involves the search for and identification of the alternative that meets the criteria developed in Phase 1.
Phase 3 involves the development of the alternative selected in Phase 2.
We commonly refer to these first three phases as "Front End Loading," where the majority of a project’s value is identified.
If you don’t make sure this Front End Loading part of the process is used effectively, you might select the wrong project. You might even build it well, but it would still be the wrong project. If you use the Project Management Process the way it was designed, and you take the time to frame the opportunities well and evaluate all the reasonable alternatives during the Front End Loading phase, you’ll end up with the right project.
Now, after you’ve determined that you’ve selected the right project, you move on to Phase 4.
Phase 4 involves the timely and precise execution of the plans that were developed in Phase 3, in other words, building the project.
And, finally, Phase 5 involves operating and, very important, evaluating the results of the project.
The process helped us reduce our project costs by 13 percent in the first instance and helped us achieve "pacesetter" status on costs and scheduling in the other. The "pacesetter" label basically means you’re in the top 10 percent in both cost reduction and project scheduling.
Click here for full Chevron article
BP has successfully deployed a web based project management application across the global wells teams to support common processes used in well delivery. Widespread use of the application is now made in drilling and completions activities and other planning functions within the wells community. This is just one of the tools that have contributed to the 19% drilling and completions performance improvement recorded in BP during 2003.
The project’s goal is to standardise the use of proven common processes, creating a shared repository for critical knowledge, reducing time for project initiation and planning, managing risk and supporting the stage gate decision making. An extensive management reporting capability also reduces the administrative burden.
Click here for the BP abstract at OnePetro
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| A paper by Arco came to remarkably similar conclusions about the value of the early phases of the project life-cylce. "A multidisciplinary process redesign team identified that approximately 70% of the deficiencies in the previous ABL process lay in lack of project definition and planning rather than in poor execution." |
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| Click here for the Arco abstract at OnePetro |
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For further information about
Eikos Project Systems Limited
please contact... |
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| Contact: |
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John McIntosh |
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| Email: |
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JBM@eikossystem.com |
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| Tel: |
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+44 (0)7790 067 598 |
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| Skype: |
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john.b.mcintosh |
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| Linked-in: |
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> view profile |
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