the decision box represents key management decisions and serve as the gates which delineate phases....
TRANSCRIPT
The decision box represents key management decisions and serve as the GATES which delineate phases. The decision can be to proceed, exit, or recycle.
More complex projects may need additionalintermediate decision reviews in a phase.
Stop, Hold, RecycleThe decision makers are individuals responsible for the framing of the opportunity and having the authority to
approve the work plan.
Stop, Hold, Recycle Stop, Hold, Recycle Stop, Hold, Recycle New Opportunities
PHASE 1ASSESS
PHASE 2SELECT
PHASE 3DEVELOP
PHASE 4EXECUTE
PHASE 5 OPERATE&EVALUATE
DECISION EXECUTIVE ……………
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DECISION EXECUTIVE ……………
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DECISION EXECUTIVE ……………
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DECISION EXECUTIVE ……………
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DECISION EXECUTIVE ……………
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Opportunity
Commitresources to
progress opportunity
Commit To Execution
FID
Asset Acceptance
Proceed or bail out
Commit to Development
Plan
Screen Opportunity
Identify Feasible
Concept(s)
Interim Review(s)
Generate Value/
Revenue
Decision Makers
Deliverables at Major Reviews
Work Team
Focus Items
TO PHASE 1
The primary activities completed by the work teamin each phase
The multifunctional work team carries out the work under the guidance of the project manager or team leader. Expectations of the decision team are met through frequent communication &
alignment of goals.
TEAM LEADER……………………….……………….………………………..
The process does not end here!Secondary opportunities andprojects will loop back into the
appropriate phase.
Documentation facilitatescontinuity of effort, captureslessons learned for futureprojects and evaluates the work done in that
phase.
CLEARLY FRAME GOAL
TEST FOR STRATEGIC FIT
PRELIMINARY OVERALL PLAN
PRELIMINARY ASSESSMENT(eg Technical, market, etc.)
REGULATORY APPROVAL
PLAN FOR PHASE 2 (incl. Funding approval and resource requirements)
REASSESS EFC, INCL. FUNDING FOR EACH SUCCESSIVE OPREP PHASE & REPORT ON COST & OTHER PERFORMANCE FOR CURRENT PHASE
OTHER FOCUS ITEMS ...
GENERATE ALTERNATIVES
PRELIMINARY DEVELOPMENT OFALTERNATIVES
DEVELOP EXPECTED VALUE
IDENTIFY PREFERRED ALTERNATIVE(S)
REGULATORY APPROVAL
PLAN FOR PHASE 3 (incl. Funding approvaland resource requirements)
REASSESS EFC, INCL. FUNDING FOR EACH SUCCESSIVE OPREP PHASE & REPORT ON COST & OTHER PERFORMANCE FOR CURRENT PHASE
OTHER FOCUS ITEMS...
FULLY DEFINE SCOPE
REFINE ESTIMATE
DEVELOP FINAL EXPECTED VALUE
REGULATORY APPROVAL
SUBMIT FUNDING FOR APPROVAL DEVELOP DETAILED EXECUTION PLAN FOR PHASE 4
OTHER FOCUS ITEMS• BUSINESS PLAN FOR PHASE 5 (DRAFT)•
IMPLEMENT EXECUTION PLAN
FINALISE OPERATIONS PLAN
BUSINESS PLAN FOR PHASE 5
PROJECT REVIEW
REGULATORY APPROVAL
OTHER FOCUS ITEMS• •
OPERATE ASSET
MONITOR AND EVALUATE PERFORMANCE
IDENTIFY NEW OPPORTUNITIES
REGULATORY APPROVAL
OTHER FOCUS ITEMS
Focus items provide a checklist of key activities, ensuring the quality of the work is commensurate with the next milestone
decision being made.
Identifies the required deliverable(s) that will enable the decision
Do cu m
e nt
Do cu m
e nt
Do cu m
e nt
Do cu m
e nt
TEAM LEADER……………………….……………….………………………..
PROJECT MANAGER ………………….……………….………………………..
PROJECT MANAGER ………………….……………….………………………..
ASSET MANAGER ………………….……………….………………………..
Primary Activity
Value ImprovingPractices
Assurance Checks
VIP’s are available to help progression through a particular phase. They assist the teams to maximise value of an opportunity.
Assurance Checks support the milestonedecision to move to the next phase. They provide decision makers (both technical & commercial) assurance that the recommendations are sound and will deliver maximum value.
Refine Selected
Alternative(s)
Selection Report Feasible
Concept(s)
Business Proposal Package Functional
Asset(s)
Performance
Assessment
ValuationReport
Value Enhancing Opportunity
• POST INVESTMENT REVIEW• FINAL: BENCHMARKING REVIEW
• FINAL INVESTMENT DECISION REVIEW• BENCHMARKING REVIEW (FEL)• COMMERCIAL ASSURANCE REVIEW•
•OPPORTUNITY FRAMING•TECHNOLOGY MANAGEMENT•PROJECT EXECUTION PLANNING•RISK MANAGEMENT•CONSTRUCTABILITY•STANDARDS•
•CONTRACTING STRATEGY•COST ENGINEERING•PEER ASSISTS•SUBSURFACE UNCERTAINTY
MANAGEMENT
•OPPORTUNITY FRAMING•TECHNOLOGY MANAGEMENT•PROJECT EXECUTION PLANNING•RISK MANAGEMENT
•CONTRACTING STRATEGY•COST ENGINEERING•ASSURANCE PLANNING•PEER ASSISTS•SUBSURFACE UNCERTAINTY
MANAGEMENT
• PROJECT INITIATION REVIEW• COMMERCIAL ASSURANCE REVIEW
• SUBSURFACE UNCERTAINTY MANAGEMENT
• FEASIBILITY REVIEW• DEVELOPMENT PLAN(CONCEPT
SELECTION ) REVIEW• BENCHMARKING REVIEW (FEL)• COMMERCIAL ASSURANCE REVIEW
• PRE START UP REVIEW•
CommitTo Concept Alternative(s)
FinalDevelopment Plan Recommendation
Finalise Business Proposal
•TECHNOLOGY MANAGEMENT•PROJECT EXECUTION PLANNING•CONSTRUCTABILITY•STANDARDS•RISK MANAGEMENT• •
•CONTRACTING STRATEGY•COST ENGINEERING•PEER ASSISTS•SUBSURFACE UNCERTAINTY
MANAGEMENT•
•PROJECT EXECUTION PLANNING(FINAL)•CONSTRUCTABILITY•RISK MANAGEMENT•
•COST ENGINEERING•SUBSURFACE UNCERTAINTY
MANAGEMENT•
OPPORTUNITY & PROJECT REALISATION PROCESS
Execute
Interim Review(s)
Refine Development Plan Option
GuidelinesGuidelines or “how to” manuals/handbooks are available to support key activities in each phase.
22-2-2000
FDPBODARP