We support organizations address the ever-present challenge of uncertainty in business through effective risk management. Our performance forecasting services provide expert guidance and strategic solutions that enable businesses to predict the future performance of their industrial assets and make informed decisions about commercial agreements, design, operations and maintenance.
The performance forecasting team is an expert on the delivery of reliability, availability and maintainability (RAM) studies to forecast the performance of industrial assets in either design or operational project phases.
RAM is a quantitative modelling approach, used to predict the performance of an asset through Monte Carlo simulations. RAM considers the interaction of complex factors, such as equipment configuration, reliability, equipment/system capacity, storage volumes, maintenance, logistics and transportation. By analyzing performance results and assessing how they respond to varying input parameters, it is possible to optimize an asset or supply chains within given constraints.
RAM is used to deliver significant financial benefits by:
- Increasing production revenues
- Reducing CAPEX and OPEX investment
- Reducing financial penalties
- Optimizing operation and maintenance strategies
For over 30 years, DNV has been the trusted supplier of world-leading RAM software simulation packages. Over the same period, the performance forecasting team has conducted over 1,500 RAM studies covering a wide range of assets in the Oil & Gas and Utility sectors. This background has allowed the team to gear their RAM expertise towards energy transition applications, with the team supporting pioneering CCS and hydrogen projects.