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Project Development and Strategies for Success CONSTRUCTION PRACTICE WORKING PAPER Project Development and Strategies for Success Prepared By: Lawrence A. Bastianelli | Sr. Managing Consultant Bradley D. Wolf, P.E. | Director Office: 412.235.4043 | Mobile: 412.352.0757 Office: 412.235.4059 | Mobile: 412.600.0875 [email protected] [email protected] Terry Yeager | Principal Richard D. Fultineer | Director Office: 678.627.8336 | Mobile: 404.358.6684 Office: 412.235.4065 | Mobile: 412.759.7185 [email protected] [email protected] Copyright: Copyright ©2012 by Berkeley Research Group, LLC. Except as may be expressly provided elsewhere in this publica- tion, permission is hereby granted to produce and distribute copies of individual works from this publication for non-profit educa- tional purposes, provided that the author, source, and copyright notice are included on each copy. This permission is in addition to rights of reproduction granted under Sections 107, 108, and other provisions of the U.S. Copyright Act and its amendments. Disclaimer: The opinions expressed in the BRG Working Paper are those of the individual authors and do not represent the opinions of BRG or its other employees and affiliates. The information provided in the BRG Working Paper is not intended to and does not render legal, accounting, tax, or other professional advice or services, and no client relationship is established with BRG by making any information available in this publication, or from you transmitting an email or other message to us. None of the information contained herein should be used as a substitute for consultation with competent advisors. Berkeley Research Group | Four PPG Place, Fourth Floor | Pittsburgh | PA | 15222 BERKELEY RESEARCH GROUP WORKING PAPER I. Introduction II. Project Delivery System and Businesses have to make important and timely decisions re- Front-End Loading garding capital investments needed to sustain a position in Capital projects contain a degree of uncertainty; there are the market or to exploit new business opportunities. Getting no guarantees for project success. Many industrial owners the proper return on a firm’s investment is critical for long- have implemented sustainable processes for the creation of term success. Unfortunately, many capital projects do not new capital assets based on a phased approach with careful- result in fulfillment of the firm’s business objectives due to ly established decision points to define and manage project misalignment of the business and project objectives. This risks. A typical model for a capital project delivery system can typically occur early during the project development (PDS) has five phases (Figure 1). The first three phases are phase if there is not a systematic approach to alignment that collectively known as front-end loading (FEL) and are de- identifies and manages project risks. This process allows for voted to project development, including identifying business thoughtful and robust project execution strategies to be de- opportunities, screening alternative solutions, and defining veloped that can mitigate identified risks. These systemat- the optimum solution for implementation. The FEL phases ic approaches are even more important today, since many are followed by project implementation and startup and op- owners’ capital program organizations have been downsized eration. during the recent recession, and owners may find that they no longer have the internal management resources to prop- erly plan and develop capital projects. Figure 1: PDS Project Model This paper details a Typical Project Delivery System (PDS) Model proven project delivery system that provides key strategic information for timely go/no-go decision gates that effectively FRONT-END LOADING manage the risk-to-re- ward relationship during PROJECT STARTUP & project development. OPERATION Business Facility Project IMPLEMENTATION The paper explores crit- Planning Planning Planning ical project execution (FEL 1) (FEL 2) (FEL 3) strategies to mitigate risks and maintain align- ment of the business and project objectives. We also discuss using third-party facilitators in augmenting the The FEL process was developed by the Construction Indus- owner’s project management team as a valuable compo- try Institute (CII) as part of its Best Practices Guide: Im- nent of a well-rounded implementation process. Finally, to proving Project Performance.1 Front-end loading includes demonstrate the success of the concept, we provide two case robust planning and design early in a project’s life cycle (i.e., studies in which Berkeley Research Group experts worked the front end of a project), at a time when the ability to with industry owners to incorporate successful strategies and project controls for critical plant investment projects. 1 Construction Industry Institute, Draft CII Best Practices Guide: Improving Project Performance, Implementa- tion Resource 166-3, Version 4.0 (February 2012). 2 PROJECT DEVELOPMENT AND STRATEGIES FOR SUCCESS BERKELEY RESEARCH GROUP WORKING PAPER influence changes in design is relatively high and the cost to baseline for the subsequent evaluation of the implemen- make those changes is relatively low. The effort and atten- tation and operation phases. In order to improve proj- tion required in this phase is critical but often minimized in ect cost and schedule certainty, owners develop project practice. Most delays, disruptions, disputes, and cost over- scope adequately enough so that preliminary budgets runs can be traced back to this phase. and schedules can be relied upon. Owners typically use a stage-gate process during develop- 4. Implementation: Covers the detailed engineering, pro- ment, whereby a project must pass through formal gates with curement, and construction of the facility and represents well-defined milestones to ensure that reliable information is the bulk of the project’s expenditures. The key deliver- developed for key go/no-go decisions and funding the next able is a facility “fit for intended use”—one that will stage of work. The process involves developing sufficient provide the product quantity, quality, and technologi- strategic information so that decision makers can adequately cal and economic benefits defined in the FEL planning address risk and commit resources in order to maximize po- phases. tential success. The main objective during the FEL phases is to effectively manage risk when developing new capital as- 5. Startup and Operation: Represents the final accep- sets. The investment decisions are considered and developed tance of the new capital asset by the operations and man- using an approach that creates control points that determine ufacturing department, and comprises the evaluation of the level of the owner’s risk exposure and costs. facility performance through sustained operation. The key outcome is the evaluation of how the asset achieved The five phases of this PDS model are summarized as fol- business goals and project objectives. Owners are well lows: served during this phase to develop “lessons learned” for process improvement for future projects. 1. Business Planning (FEL 1): Strategic planning result- ing in the identification of market opportunity or other The deliverables for each phase serve as inputs to subsequent business operational needs. The key outcome is to estab- phases. The quality of the effort and resulting deliverables lish the business case identifying the need and expected determines the potential for success. If the project team errs outcome for pursuing an opportunity. in an early phase, the impact is magnified through successive phases, and even excellent team performance in subsequent 2. Facility Planning (FEL 2): Focuses on defining the phases may not be sufficient to overcome the error (e.g., the facility for the business objectives by examining alter- wrong plant perfectly built is still the wrong plant and will native approaches that will ultimately result in identify- not meet business objectives). ing the optimum business and technical solution for the business case. The key deliverable is the selection of the The FEL planning phases are the heart of the PDS. These technology and site for the proposed capital asset. phases have the most influence in affecting the probability of project success in meeting the owner’s business objec- 3. Project Planning (FEL 3): Takes the FEL 2 selection tives. The FEL planning phases minimize the likelihood of and expands the level of engineering detail to achieve problems during the implementation and startup/operation the business and project goals identified in FELs 1 and phases. The CII Best Practices Guide, Section 1.01, Front 2. Contracting and execution strategies are selected at End Planning, identifies a best practices survey completed this time. The key outcome is the definition of the proj- in 2009 in which owners with high front-end planning usage ect scope, cost, and schedule that forms the basis for the on average spend 8 percent less than those with low usage.2 capital funding case. It also establishes the performance 2 BMM2010-4, CII Value of Best Practices Report (July 2011). PROJECT DEVELOPMENT AND STRATEGIES FOR SUCCESS 3 BERKELEY RESEARCH GROUP WORKING PAPER This paper will focus on these phases and the inherent strate- 1. The selection of the method for project delivery (i.e., gies most critical in managing project uncertainties. EPC, EPCM, multiple primes, design-build, etc.) 2. The contract type (i.e., basis for compensation, such as III. Conditions Driving the Need for lump
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