Transform your capital projects: embrace a systems-driven approach to drive success

By 2027, a massive $130 trillion of investments in are expected energy and utilities capital projects to decarbonize and renew critical infrastructure.

With capital project cost overruns averaging $1.2 billion and delays typically spanning six months to two years, how can your business improve energy asset management while efficiently delivering on this once-in-a-lifetime capital influx?

Consider digitalizing the lifecycle of your capital assets. Whether you’re an owner-operator or an engineering, procurement, and construction company (EPC), digitally connecting your design, build and operations using a systems-driven approach keeps your stakeholders, processes and data continuously in sync while accelerating productivity and performance.

Use a requirements management platform to stay compliant

Without having end-to-end digital connectivity, capital projects risk delays and cost increases as teams struggle to manage requirements and keep pace with change.

Additionally, capital projects include multiple stakeholders, including engineers, contractors, suppliers and original equipment manufacturers (OEMs). Managing these relationships while ensuring compliance adds complexity and causes significant pressure on financial performance and project deadlines.

Now, the good news: you can establish continuous integration across the entire capital asset value chain by adopting a requirements management platform. With this in place, your business can benefit from:

• Connecting project requirements to all asset lifecycle stages with continuous verification and cross-domain traceability
• Adopting a systems engineering approach to align people, processes and data
• Managing change more effectively while remaining compliant as regulations and industry standards evolve
• Building a comprehensive lifecycle management architecture blueprint to start and stay integrated
• Using advanced visualization and a low-code application development platform to connect, enrich and visually navigate asset information

An HVAC leader fueled digital transformation with a requirements management tool

A pioneer in heating technology since 1874, Vaillant Group also specializes in air conditioning, ventilation, renewables and hot water.  Its mission is to develop a clear vision for the future of sustainable and responsible system solutions.

This HVAC leader established a goal of building a single company-wide toolset that would provide all stakeholders access to the same information source while enabling teams to define consistent engineering requirements.

In this Vaillant Group case study, you’ll learn how they:

• Introduced a requirements management tool that provided a consistent way of specifying requirements through the complete product development process
• Reduced data silos and disconnected processes
• Created a central collaboration platform for stakeholders
• Accelerated digital transformation

Elevate capital asset productivity and performance with a systems-driven approach

With historic investments pouring into capital assets, owner-operators and EPCs have the ultimate opportunity to improve their capital project management while reducing cost overruns and project delays.

By connecting requirements to all asset lifecycle stages and adopting a systems-driven approach, you can reduce the risk of cost overruns and missed timelines by keeping your stakeholders, processes and data continuously in sync. This includes improving connectivity between enterprise asset management systems and ensuring that your data is accurate, up-to-date and flows smoothly.

Watch the video to learn the benefits of digitalizing the lifecycle of your complex capital assets.