Original air date July 25, 2018

Webcast: Simplifying Specifications and Process Management

Wednesday, July 25, 2018, at 11 a.m. PT/1 p.m. CT/2 p.m. ET. Attendees qualify for a Certificate of Completion

Energy companies today are faced with delivering greater complexity, higher quality, with lower risk all within shorter delivery times. This impacts the ability to deliver complex and innovative solutions to satisfy customer demands.

In 2015, McKinsey Research estimated that 98 percent of megaprojects suffer cost overruns of more than 30 percent, and 77 percent are at least 40 percent late. In another influential study from Oxford’s business school, it was estimated that nine out of ten projects go over budget.

So why does this happen? 

McKinsey’s research attributes this to:

  • Costs and timelines are underestimated, and benefits are overestimated. This is systemic.
  • Low productivity due to poor execution from bad estimates. Inefficiencies caused by incomplete design, lack of clear scope, ill-advised shortcuts, and even computational errors in scheduling and risk assessment.
  • Organizational structure and ad hoc standards that inhibit effective decision making. This is caused by disconnected goals and objectives among the different layers of management causing inefficiencies.

In this webcast presentation on Simplifying Specifications and Process Management, we will show how corporate governance is established by providing a web-based system, unifying all teams on one common platform. We’ll also demonstrate the importance of being able to automate workflows and processes to establish corporate governance throughout the specification process.

Learning objectives:

  • Discover how to produce and validate project documentation faster, and with greater accuracy
  • Learn how to minimize risk through structured and automated processes while bringing efficiency to the document publishing process
  • Establish corporate governance in the development and production of all project documents
  • Reduce risk and maintain safety while accelerating the specifications process.

Presented By:
Thomas Behrens, Siemens Portfolio Development Executive, Energy
Jim Ferranti, Siemens Pre Sales Engineer

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