Power Project Capital Effectiveness in Focus
IPA Hosts a Power Forum at IBC 2016
IPA hosted a Power Forum March 15-16, 2016, at the Lansdowne Resort in Leesburg, Virginia, offering owner companies exclusive insights specific to capital projects in the power sector.
With owner companies in the power industry becoming increasingly dissatisfied with their capital project performance, many have begun to re-examine the way they organize project delivery and govern capital project commitments. Held in parallel with the 26th annual meeting of the Industry Benchmarking Consortium (IBC), the Power Forum allowed participants to gain a detailed understanding of what companies in their industrial sector, as well as other industrial sectors, are doing to improve the effectiveness of their capital investments.
Power Forum Agenda Highlights
- Presentations by Southern Company shared its journey of improving capital project performance
- Capital project comparisons between the power sector and other sectors identified key improvement opportunities
- Representatives from Dow and Praxair shared their experiences implementing capital project improvements
- Discussions were held about the importance of project system predictability
- Best Practices for managing a portfolio of projects were outlined
- Other presentations discussed project organizations and staffing, the role and limitations of project assurance, and characteristics of successful project leaders
The event is expected to serve as the launching point for sustained improvement in power projects development for the next several years.