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Topics to be covered
What is a Project? Why do it? Understanding the Stages of a
Project, Steps for carrying out a feasibility study.
Tools Required for Feasibility Studys Project development &
Profitability Analysis
- Revenue Forecasting
- Capital Cost Estimating
- Operating Cost Estimating, Cash Flow Analysis
- Time value of money
- Net Present Value, Discounted Cash Flow Methods
Content
1.
2.
3.
4.
www.selkirkfloodscheme.com
Projects
Content
1.
2.
3.
4.
Development
IDENTIFY
SELECT
Project
Identification
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Determine
project
feasibility and
alignment with
business
strategy.
Select the
preferred
development
option(s) &
execution
strategy.
Finalize project
scope, cost
and schedule
and Sanction
Project.
Prepare for
Execute Phase.
Produce an
operating
asset
consistent with
scope, cost &
schedule.
Evaluate &
Operate asset
to ensure
performance to
specifications
and maximum
return to the
Client.
http://www.renewableenergyworld.com/rea/blog/post/2013/11/geothermal-visual-project-cost-and-risk-profileat-various-stages-of-development
Development
IDENTIFY
SELECT
Project
Identification
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Stage 1 Identify
1.
Increased capacity
Product quality
New product / replacement
Opportunity
Plant Need
Efficiency / reliability
Raw material issues
Energy conservation
Logistics
New technology
Stage 1 Identify
1.
2.
Market Need
Increased capacity
Product quality
New product / replacement
New plant?
-Different location?
-Different technology?
-Import?
Opportunity
Plant Need
Efficiency / reliability
Raw material issues
Energy conservation
Logistics
New technology
-Produce
different product
-Research possible options
Stage 1 Identify
Identify need and be clear on it
Brainstorm ideas
Develop Database
1.
2.
3.
Sources
Stage 1 Identify
Identify need and be clear on it
Brainstorm ideas
Develop Database
Identify Issues for Consideration
1.
2.
3.
4.
-
Design Constraints
Stage 1 Identify
1.
2.
3.
4.
5.
Production
Case 1 Do nothing
Production Capacity
Years
Production
Production Capacity
Years
Production
Existing Capacity
Years
Development
IDENTIFY
Project
Identification
SELECT
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Stage 2 Select
1.
Stage 2 Select
1.
2.
Weighting
0.15
0.20
0.10
0.10
Karratha
9
6
9
8
0.15
0.15
0.05
0.05
9
9
7
3
9
7
0.05
4
70.0
Perth
4
9
9
4
9
73.5
Gladstone
9
6
9
6
6
72.5
Stage 2 Select
1.
2.
Stage 2 Select
1.
2.
3.
Stage 2 Select
1.
2.
3.
Stage 2 Select
1.
2.
3.
Stage 2 Select
1.
2.
3.
4.
Stage 3 - Define
Full Funding
Approval
Execution
Development
IDENTIFY
Project
Identification
SELECT
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Stage 3 Define
2.
3.
4.
At End of Stage 3
Formal Approval Takes Place
Full Funding
Approval
Execution
Development
IDENTIFY
Project
Identification
SELECT
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Development
IDENTIFY
Project
Identification
SELECT
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Procurement of Equipment
Construction of plant
Pre-commissioning of equipment
Development
IDENTIFY
SELECT
Project
Identification
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Commissioning/start-up of plant
Monitor/adjust plant during warranty period
Complete Close-out
In a Design House
Determine
customer
needs
Set design
specifications
Build
performance
models
Generate design
concepts
Customer
approval
Evaluate
economics,
optimize &
select design
Detailed
design &
equipment
selection
R & D if needed
Predict fitness
for service
Procurement &
construction
Begin operation
Structure of a
chemical
engineering project
Techno-Economic Analysis
1.
2.
3.
4.
5.
6.
Executive summary
Technology description
CONTENT
1.
2.
3.
4.
What is Value?
Value :
Creating Value
IDENTIFY
Gate
SELECT
Gate
(Worley)
DEFINE
Gate
EXECUTE
tim
Se um P
lec ro
tio jec
n
t
Poor Pro
ject
Definitio
n/Execu
tion
Op
Value
OPERATE
Project
Optimum
on
n/Executi
Definitio
ject
Pro n
r
o
Po lectio
Se
Gate
CONTENT
1.
2.
3.
4.
Success
On time
Within budget
With quality
Develop productive relationships
Further reading
Lecture notes
Wearne, S.H. (1989) Control of Engineering Projects,
Thomas Telford.
Morris, P.W.G. (1997) The Management of Projects,
Thomas Telford
Smith, N.J. (2008) Engineering Project Management.
Development
IDENTIFY
SELECT
Project
Identification
Scoping / Feasibility
DEFINE
Pre-FEED/
Front End
Eng
EXECUTE
Detailed Engineering
Procurement /
Fabrication/Constrn.
OPERATE
Commissioning
Close-out
Determine
project
feasibility and
alignment with
business
strategy.
Select the
preferred
development
option(s) &
execution
strategy.
Finalize project
scope, cost
and schedule
and Sanction
Project.
Prepare for
Execute Phase.
Produce an
operating
asset
consistent with
scope, cost &
schedule.
Evaluate &
Operate asset
to ensure
performance to
specifications
and maximum
return to the
Client.
Topics to be covered
What is a Project? Why do it? Understanding the Stages of a
Project, Steps for carrying out a feasibility study.
Tools Required for Feasibility Studys Project development &
Profitability Analysis
- Revenue Forecasting
- Capital Cost Estimating
- Operating Cost Estimating
- Cash Flow, NPV/DCFR, etc