Emerson launches Project Certainty to reverse industry trend of capital project cost and schedule overages
Emerson to help customers achieve Top Quartile project performance by
eliminating cost, reducing complexity and accommodating change
Addressing a growing industry demand for transformational improvements
in capital project execution, Emerson today launched Project Certainty,
an innovative technology and engineering-based approach for improved
capital efficiency and more reliable project schedules.
Due to project excesses, billions of dollars are lost annually in oil
and gas exploration and production, hydrocarbon and gas processing,
chemical, pharmaceutical, and other process industries. According to
industry data, over 65 percent of projects greater than $1 billion fail,
with companies exceeding their budgets by more than 25 percent or
missing schedules by more than 50 percent. Routinely, they also face
operational problems continuing through the second year of operations.
This consistently poor project performance can be a serious deterrent to
process manufacturers considering new investments.
“The industry has reached a tipping point in which projects are not
sustainable with current budget and schedule excesses,” says Jim
Nyquist, president of Emerson Process Management’s Systems and Solution
business (NYSE: EMR). “In order to achieve game-changing performance in
projects, it will take a truly transformative and comprehensive approach
like Project Certainty.”
Emerson’s Project Certainty begins with early engagement during
engineering and design studies to define project goals and high impact
strategies to meet those goals. Despite traditionally accounting for
approximately 4 percent of a project investment, automation is revealing
unique and repeatable ways to eliminate cost, reduce complexity and
accommodate late-stage project changes, beyond the automation discipline.
For example, Project Certainty relies on the right design engineering
strategy to eliminate centralized control system room requirements by 70
to 80 percent, and can eliminate piping in some applications up to 50 to
60 percent. Additionally, tens of millions of dollars in capital spare
parts can be eliminated through project-wide equipment reliability
“Project Certainty also tackles complexity by decoupling the
dependencies suppliers have on each other, eliminating bottlenecks and
allowing concurrent work streams,” said Nyquist. “Likewise, we are
addressing the complexity of data and documentation with innovative
technologies that provide features like a single source of project data
as well as automated documentation.”
Addressing one of the greatest project vulnerabilities, Project
Certainty significantly improves project schedule performance.
Revolutionary technologies like Electronic Marshalling with CHARMs, and
pervasive wireless field instrumentation are helping project teams
accommodate inevitable last-minute design changes without impacting
“The path to Top Quartile project performance is right in front of us,”
said Nyquist. “The technologies and proven methodologies are here. It
will take collaboration and commitment to eliminate outdated project
approaches and drive change into the industry.”
About Emerson Process Management
Emerson Process Management (www.EmersonProcess.com),
an Emerson business, is a leader in helping businesses automate their
production, processing and distribution in the chemical, oil and gas,
refining, pulp and paper, power, water and wastewater treatment, mining
and metals, food and beverage, life sciences and other industries. The
company combines superior products and technology with industry-specific
engineering, consulting, project management and maintenance services.
Its brands include Bettis™, DeltaV™, Fisher™, Micro Motion™,
Ovation™ and Rosemount™.
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global
leader in bringing technology and engineering together to provide
innovative solutions for customers in industrial, commercial, and
consumer markets around the world. The company is comprised of five
business segments: Process Management, Industrial Automation, Network
Power, Climate Technologies, and Commercial & Residential Solutions.
Sales in fiscal 2014 were $24.5 billion. For more information, visit Emerson.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151012005758/en/
Copyright Business Wire 2015