Develop more efficient capital projects with an EPC 4.0 strategy

摘要

Digital technologies are being widely adopted across nearly every industry Industrial companies are moving as far away as possible from manual,document-centric processes and replacing them with cloud services,digital solutions and data-centric strategies.As a result,the manufacturing industry has almost doubled its productivity over the last 20 yr.This has not translated to the process industry,where digital technologies have not been adopted to the same extent.In a capital project execution phase,manual and document-centric processes are still preferred on both the engineering,procurement and construction(EPC)and owner side,and productivity has flat-lined.In a document-centric system,information is shared by passing paper,PDF or Excel documents between teams,departments,clients and suppliers.This type of manual information transfer carries a large risk for error as documents are passed from one person to another.It is also an inefficient process,with engineers spending 50% of their time looking for and validating information,ultimately leading to misguided decision-making,low transparency and the constant need to translate data.While engineering makes up only 10% of the capital project cost,engineering errors propagate throughout the procurement and construction phase,resulting in material waste,rework and delays.The cost of engineering errors alone comprises 14% of the total project cost and can cause significant schedule delays.