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Operational Readiness for Major Capital Projects. The process of assuring that all required operational deliverables are complete, available and tested to ensure expected performance at handover to the operator/owner. It’s a common term, well known across the industry.
All too often, while the concept and definition are well known, it is sporadically achieved during capital construction projects – from concept to handover to continued operational performance. This problem has been studied and determined to contribute to significant “value leakage” (loss of value to the project, the asset and ongoing operational performance), in some cases up to 30%!*
Operational Readiness is a balance of economic factors, technical design engineering, procurement and tight construction planning and execution. Traditional focus on capital construction projects has been on completion over achieving optimized operational and production capabilities. As a result, Operational Readiness is compromised, leading to increased operational risk, cost and potential incidents.
Pilko & Associates has worked Operational Readiness issues, providing guidance and experience on how to bring in projects on-time and on-budget without compromising operational performance and production capabilities. This Grey Paper summarizes a few of our findings and experiences to help you chart a new course toward greater Operational Readiness resulting in lower value leakage, risk, cost and potential incidents.
In this Grey Paper you’ll discover:
* Deloitte: “Effective Operational Readiness” Article, 2014