According to the Construction Industry Institute (CII) research consortium, the average construction project is being delivered 80% over budget today and 20 months late. Estimated $100 billion capture hub under immense pressure to minimize project risk while maximizing predictability.
IIC research also says that within a typical investment project, 80% of the cost is acquisition and construction, while civil engineering is only 10%. With this in mind, it makes sense to focus on your engineering technologies and workflows to resolve budget surpluses?
The answer is unexpectedly yes. Why? This is because design errors occur in the design and construction phase, the consequences of which can be catastrophic for the entire project.
The Problem
Engineers waste up to 50% of their time searching for and validating technical information. This slows the progress of the capital project and increases the risk of errors, rework, and additional cost tiers and schedules that lead to overdue and over-budgeted construction industry.
The industry has made progress in addressing common project inefficiencies through the increased adoption of collaborative practices such as the expanded work package, collaborative recruiting and planning, and integrated project delivery. Practices can leave teams swimming in a cluttered and unstructured pool of data that creates more problems than it can solve.
The Solution
Create a single source of information that all project teams can access and trust to make and act on decisions.
To maintain a competitive advantage, owner-operators and engineering, procurement, and construction companies must abandon their manual tracking processes and implement a unified, integrated, and data-centric system that can autonomously tag and store current information in a fair place for consistency, so everyone working on the project can see what is happening. Everyone sees the same information in real time, so they can easily find the right data to make safe decisions and take action.
The more integrated your data, the better
Forward-looking companies are breaking new ground to leverage their data by unifying the entire simulation process as well as the engineering and design workflow in a single cloud-based environment.
If all engineering disciplines can collect, display, share and manage all of their data in one central location, the value is multiplied by ten. Process simulation can be used to test a variety of design iterations for optimal sustainability and operational efficiency, downstream design impact changes can be incorporated across engineering disciplines within minutes, and design conflicts can be identified and easily mitigated long before they are noticed on the job site.
A crucial step on the way to the digital twin
A data-centric engineering approach supports the entire project execution process from concept to completion and creates high quality and reliable engineering information management, the main component of any effective strategy for a digital twin.
A clear, validated view of your engineering information shows you everything you need to know about the physical structure of your plant, from design to how it is today (which may or may not be the same), superimposed with mechanisms of machine learning and artificial intelligence to contextualize and even visualize the model with its behavior over time and thus effectively become a living digital twin of your plant.
Digital twins are essential to build the plant of the future, which is planned and executed predictably and, thanks to the information, works efficiently and sustainably in all phases of the plant life cycle.
Don’t Forget Cloud
To maximize the value of your integrated and data-centric engineering efforts, consider deploying in the cloud. Deployment in the cloud further democratizes your data and provides intelligent and actionable information to those who need it.
And storing and managing design data in the cloud enables engineers to work on their projects both in the office and remotely to ensure business continuity in a global workforce. Deployment and licensing based on your needs as the project progresses or your business needs change.
The Bottom Line
By delivering your data-centric engineering project in a single environment, ideally in the cloud, you can reduce rework and wasted time reviewing information in engineering and construction, while freeing up the ability to leverage that information which rely on it in the later stages of the project to make decisions.
These findings not only increase engineering efficiency and generously increase productivity through collaborative best practices in project execution, but also drive a digital twin strategy to improve connectivity, reporting and plant visualization for fast and reliable decision-making well beyond the project phase to enable. of the plant life cycle.
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