Triple EEE

Experience, Expertise, Excellence

Opportunity Framing

Introduction

When considering a new project in our business, a new venture or new development, it is good to stand back at the start and reflect how to get the best value out of the opportunity.
History has many Oil & Gas industry examples of pro-jects in which a path was selected that resulted in significant value erosion. These examples also show that the better the initial plan, the better the chance of successful delivery. Good front end loading (FEL) with support of Opportunity Framing makes future ‘go/no go’ situations clear, prevents disappointments and helps to set up the project for success, creating more value (see inserted diagram).

 

Opportunity Framing, also referred to as roadmapping, is a well-recognized and tested industry best practice for any Oil & Gas related project or major undertaking, to ensure a high-quality plan right at kick off of the opportunity. Additional benefits are stakeholder involvement and alignment, a focused and motivated team, a structured roadmap and action plan, clarity on decisions, and a better ability to deal with changes.

Methodology

To get optimal results from an opportunity framing, the structured process is facilitated in a multi-disciplinary Opportunity Framing workshop.

In almost every case, a range of issues will need to be understood, both technical and non-technical. An Opportunity Framing workshop therefore needs to be conducted by an integrated, multi-disciplinary group of staff, including the decision makers. This will result in a better understanding of the full range of aspects impacting project success, and assist in better management of risks and opportunities.

Through a structured and facilitated process, the Opportunity Framing, with a detailed agenda prioritized with the client, will in essence address the following items:

  • ‘as is’ – Understanding the current situation, the context, identifying the value drivers, key risks and critical success factors
  • ‘to be’ – Defining the aspiration of the Client, identifying improvement opportunities, whilst mitigating gaps and risks
  • ‘how to get there’ – Create an integrated decision-based roadmap for the way forward

The end result is a crisp understanding of the problem that need to be resolved, or project to be delivered, with an integrated and realistic decision-based roadmap, a focused action plan with action owners and defined deliverables, aligned stakeholders, decision criteria and clarity on decision makers, thus laying the structured foundation for successful delivery.

Triple EEE is independent and with our senior ‘grey-haired’ Oil & Gas consultants and subject matter experts (SME) we can support Opportunity Framings to obtain high-quality results. For example, by providing facilitators and/or SMEs to assist the client's team in defining and conducting these Opportunity Framing workshops, co-creating the best foundation for successful delivery of the ‘to be’ aspiration.

More Information

Linked to Opportunity Framing, Triple EEE provides a suite of management support services that can help you realize the full value of your assets and opportunities. For example:

  • Integrated Project Reviews
  • Project Management
  • Operational Excellence
  • Realize the Limit
  • Organizational Support, e.g. organizational structure, competence and performance management
  • Cost & Efficiency Advisory

For more information about this service please contact us through the Client Enquiry Communication form on this site, or send us an email at info@triple-eee.com .

Reference:

EEE-S-053
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