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2008 ARS, India Value of RAM Studies at Various FEL Stages of Capital Projects Most Petrochemical, Utilities and
Oil & Gas companies deploy a Phased Capital Project execution
methodology with gated transitions from one phase into the next
— Conceptual, Front-End Engineering & Design (FEED), Detailed
Engineering, Procurement, Construction and Commissioning. The
Front End Loading (FEL) process is a method where a high level
of effort and expense is employed up-front in an early phase
(i.e. FEED) to completely define the project scope and costs and
implement various Value Improvement Practices (VIPs). This
reduces the risk of project cost overruns, schedule changes and
change orders in the later phases of the project.
This presentation will discuss the typical gaps encountered in capital project execution and illustrate applicable concepts for applying RAM studies in the FEED phase. Key Words: Capital Project Execution, RAM Studies, Process Reliability Modeling, Risk Quantification, FEL RAM Validation
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