In addition to EPCs and owners reaping the benefits of Coreworx project information management solutions, engineered equipment suppliers are also leveraging Coreworx solutions to improve the delivery of information to their clients.
Document Deliverable Delays Can Result In Considerable Costs
It is a known fact that a project cannot close nor can a plant be brought into production if the associated and required documentation for each engineered component put into that facility are not delivered to the operator. Any document deliverable-related delays can result in considerable costs to all project stakeholders and lost revenue for the end operator. Being that the ecosystem of a project includes many players and each share in the failure to various degrees, engineered equipment suppliers are feeling the pressure to deliver the right documentation to the right people throughout the life cycle of each of their projects.
Delays in Engineering Document Deliverables Have Highest Severity Rating
Further driving this need for improved information management by equipment suppliers, are studies by the Construction Industry Institute (CII) that have found that delays in the provision of engineered documents, approvals, and responses to inquiries have the highest severity rating to a project.
In addition to “late deliverables,” other factors within the engineered equipment supplier’s processes can result in increased project costs and risks:
- Not providing the most recent document revision or working from the wrong version
- Slow document review turnaround times
- Slow response to technical queries
- Missed commitments
- Incomplete documentation packages
A Solution for Engineered Equipment Suppliers
These suppliers are realizing that as their organizations and projects become more complex, required delivery times get more compressed, and competition increases, they need to address their project information management methodologies to survive. Spreadsheets, manual tracking, and manual processes are not the tools they can use if they are to be competitive. Those engineered equipment suppliers already using Coreworx know this and have already improved their processes in the following areas:
- Increased on-time delivery of document packages
- Improved accuracy of document packages
- Improved response times and quality of internal reviews and comments of project documentation
- Increased compliance with client document standards (e.g. numbering and revision control)
- Enabled the ability to audit deliverable status and processes
- Achieved adherence to internal and external reporting
- Enabled easy access to all project documents and related processes by the client as well as the engineered equipment supplier’s project team
- Facilitated global cross-divisional groups collaboration
Summary: New Solutions Enable Success
The suppliers who have already deployed Coreworx solutions realize they play a key role within the project ecosystem and are making transformational changes to their business practices to ensure they are able to fulfill their role in that system. They use Coreworx information management solutions to reduce their costs and complexity, improve relationships with their clients through consistency of delivery, and to better accommodate unique requirements.
Engineered equipment suppliers are bringing the information management ecosystem of projects full circle, enabling the successful transition of information between them and their clients right from the planning and engineering phases clear through to close out and operations. Recognizing the complete role these key suppliers play in the entire project and then planning ahead and implementing the right tools to accommodate all aspects of this role are what sets the successful engineered equipment suppliers apart from the rest.
For more information on benefits provided, see the Project Solutions for Engineered Equipment Suppliers industry page on the Coreworx website.
Note: Nov 7, 2016 original post date.