LUKOIL Uzbekistan carries of value analysis of Kandym project
28/06/2013 21:35
LUKOIL Uzbekistan carries of value analysis of Kandym project
28/06/2013 21:35
Tashkent, Uzbekistan (UzDaily.com) -- Value analysis is applied worldwide in the area of investment projects implementation. Integrated Project Management System (IPMS) team helped to apply the method to Kandym – Full Development Project, LUKOIL Uzbekistan Operating Company LLC said.
Value analysis is one of the ways to assure project value that allows selection of the best technical solutions and optimization of project value. Value analysis is a universal, effective and easy-to-use tool.
This method is applied in accordance with the methodology of IPMS. As part of current investment projects support IPMS experts held on the spot a workshop, devoted to Kandym Project value analysis.
Workshop, devoted to value analysis of CPF Complex Construction and Development of Kandym Group of Fields Project, took place on June 5 at project office of LUKOIL Uzbekistan in Seoul. (South Korea). The workshop was attended by subject-matter specialists from LUOC project team and the contracting company, Hyundai, as well as Moscow office.
In accordance with the best world practices value analysis should be conducted before commencement of construction, in the stage of conceptual decision-making (before transition to phase 4 in accordance with LPMP methodology). Kandym – Full Development Project is in phase 3, i.e. in FEED stage. Value analysis in this stage may help to enhance project value.
During the event participants discussed various engineering solutions that would help to enhance project value: prevent redundancy of facilities, reduce excessive power reserve of equipment, etc. In addition to cost reduction some of suggested ideas help to improve related characteristics, for instance improve reliability of equipment.
Next step was assessment of suggestions based on two criteria: simplicity of implementation and estimated rate of economy. The assessment helped to single out the most interesting suggestions that would be later studied by the team and probably put into practice.
It was the first time, when value analysis was conducted in such a format. Of course optimization of engineering solutions is an essential part of work of design engineers. Such ideas are suggested and put into practice not only due to workshops, it is main benchmark of LUOC project team. But it is the system and comprehensive approach, implemented in value analysis format, that helps to streamline the activity, gather the greatest number of new ideas and conduct effective discussion in a wide circle of experts.
Participants and organizers of the workshop achieved good results and planned further cooperation for implemented project value assurance. Value analysis workshops, together with other best practices, will be conducted for other investment projects of the company as well.
04/05/2024Read more
04/05/2024Read more
$ 1 | 12697.00 | 0.000% |
1 | 13547.70 | 0.000% |
₽ 1 | 135.05 | 0.000% |