The world is changing at an ever-increasing pace, and more than ever these changes are driven by technology. New technology is typically introduced because it offers improved future revenues, lower CAPEX, reduced OPEX and/or improved SHE performance.
Our approach
Considering the large outlay of capital for new technology ventures, which is typically offset by high future revenue streams, we help answer questions such as:
- What could go wrong?
- How reliable is the equipment?
- What are the consequences of a failure?
- How are unplanned events factored into business decision analyses?
The implications of unplanned events can be incorporated into business decision analyses that seek to evaluate the viability of alternative designs and operational strategies. These analyses introduce a third element to the economic “balance”, namely RISKEX (risk expenditures).
The RISKEX element divides into:
- The value of lost/delayed production due to unplanned events such as system failures
- The cost of remedial activities such as repair costs
- The cost associated with leaks into environment
- The cost associated with safety impairment
Our robust modelling capabilities and interactive work processes help our clients in selecting optimal solutions and make appropriate decisions regarding application of new technology on their projects.
Benefits
- Cost savings achieved by avoiding unnecessary attention to areas that are non-critical and improved focus on areas where the value-yield is highest
- Discovery of enhancement opportunities during the conceptual and design phase rather than later in the life where the cost of change is much higher. Enhancements made in the operations phase will have been preceded by foregone income opportunities
- Assures optimal decisions related to application of new technologies through risk based evaluations and lifecycle cost models
- Systematically identifies the key technology risks for a specific concept, set priorities for further technology development, qualification and testing to reduce and manage these key risks
