A major global diversified energy company needed to upgrade its aging and site-specific cost management system (“CMS”) to an enterprise-wide strategy that could meet the evolving demands of its operating sites. FTI Consulting was engaged to digitally transform and align the company’s cost management and operational processes.
FTI Consulting established a high-performing, globally integrated CMS, upgrading and standardizing the company's management and forecasting of capital projects, operations and maintenance.
The new CMS can generate a realized ROI of 4% to 5% of total investment cost over four years.
This solution has been shown in similar implementations to generate $5 million to $10 million in savings over four years on a typical size asset.
The CMS was launched at five sites across the globe and the project portfolio management (“PPM”) tool was deployed to 11 sites worldwide.
The new CMS enabled resources to be used across the company, improving resource management, and enhanced the efficiency of data handling and analysis through advanced and streamlined reporting capabilities.
FTI Consulting’s digital transformation set new standards for the company’s capital project and turnaround management and ensured it could prioritize investments and ROI through a data-led future-state roadmap.
Our technology and implementation experts spearheaded the requirements’ definition, design, configuration and testing of the new CMS to add functionality for project ideation, risk management, stage gate approvals and project and portfolio management.
FTI Consulting developed a web-connected data model with bespoke, daily scheduled, refresh-feeding interactive dashboards for reporting, enhancing data visualization and decision-making processes and offering deep insights into the performance and reliability of operating sites.
Our global team of experts defined key requirements for the new CMS, project ideation and PPM tool, which had to meet company-specific requirements while aligning with industry best practices.
To address evolving demands, FTI Consulting developed a future-state roadmap providing real-time performance.
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