ABB methodology aims to lower costs and increase value of capital investment projects

ABB Adaptive Execution™ integrates expert teams, new technologies, agile processes, shared learnings, and proven methodologies into a single, streamlined project execution experience for all stakeholders involved in major capital investment projects.

In the energy sector, it is not uncommon for large capital projects to significantly exceed budget and experience extensive delays. ABB Adaptive Execution addresses major inefficiencies that result in cost and schedule overruns. It enables greater visibility across all layers of a project, unlocking significant project value improvements across the energy sector. With digitalisation and collaboration at its core, Adaptive Execution is expected to reduce automation related capital expenditure by up to 40%, compress delivery schedules by up to 30% and start-up hours by up to 40%.

Using virtualisation, Adaptive Executionä removes the need for engineering on site and reduces the physical hard-ware required for a control and automation system. By decoupling hardware and software, Adaptive Execution lowers the time and overall setup costs, cutting the number of engineering hours spent on project installation, com-missioning and testing by up to 85%.

Peter Terwiesch, President of ABB Industrial Automation said: “2020 has been a year of disruptions across the global energy industry. With falling oil prices, challenges induced by the current lockdowns and the rising demand for sustainable energy investments, companies are looking for new ways to reduce cost, schedule and risk for major projects in this low CAPEX environment. Harnessing advances in digitalisation, ABB Adaptive Execution™ responds to this need and enables capital projects to thrive in the new normal.”

Harnessing efficient modular design, combined with standardised, repeatable processes and shared and effective deployment of infrastructure, tools, and resources, ABB Adaptive Execution centralises collaboration across all project stakeholders — from a project’s inception through to its successful completion.

Brandon Spencer, President of ABB Energy Industries commented: “Adaptive Executionä will change the way in which customers, Engineering Procurement Construction (EPC) contractors and vendors interact. We can create better business value for our customers by creating an environment where everyone can do his or her own part with confidence, empowering delivery teams to achieve more, in less time. This is the key to overall project success.”

Read the article online at: https://www.oilfieldtechnology.com/product-news/23102020/abb-methodology-aims-to-lower-costs-and-increase-value-of-capital-investment-projects/