Quorum Upstream Blog - Is Value Leaking from Your Development Plan?

Is Value Leaking from Your Development Plan?

ByJeff Clement & Mark D’Arcy

January 04, 2022

Planners are tasked with creating strong and defensible development scenarios to meet corporate’s objectives and ultimately increase value for stakeholders. They do this while balancing uncertainty with operational and financial risk. Generating the right scenario to maximize an asset’s purest potential is the bread and butter of those planners. As the global energy industry navigates change, simply increasing production doesn’t cut it anymore. There is a spotlight put on company balance sheets, focused on increased profit, reduced costs, and superior efficiency. Integrated software provides that added efficiency. Read on to find out how.

Your planners already using Enersight by Quorum Software are answering management’s inquiries quicker and with greater confidence because they aren’t spending time reconciling, gathering, and sorting through unverified data. They are focused on evaluating scenarios and identifying improvements to maximize value and mitigate risks. Today they are enjoying a comprehensive, integrated system for cloud powered asset development and operational planning. Enersight eliminates the need to manually add data and second guess the quality of scenarios being presented. Once the best development plans have been selected, they can be handed over to the operations team via seamless integrations with Operational Scheduling and, critically, updates to the operational schedule can be quickly incorporated into Enersight as feedstock for future planning exercises. By leveraging integration between Enersight and Operational Scheduling, both teams are freeing up valuable time to analyze data and gain insights, whereas other expensive and highly skilled teams not using Enersight in the industry are spending upto 80% or more of their day gathering, error checking, and aggregating data stored in multiple spreadsheets, and archaic disconnected tools.

The stellar value of a selected plan gets realized when handed over to the operations team via seamless integrations with Operational Scheduling by Quorum Software. Without integrating Operational Scheduling with Enersight, this process is stalled even for your planners using Enersight who are receiving operations information as unstructured data (PowerPoint screenshots, misc. emails, non-formatted excel etc.). Translating this information into a useable format adds significant burden to generating the answers your executive need to make timely decisions as well. Automating this feedback with a seamless integrated loop greatly improves how data is received and consumed, while streamlining workflows and keeping planners focused on value creation. Simply, Operations is the gatekeeper to well executed scenarios.

Now that you've got a system to manage your near-term schedule and commitments, you can let the system notify you of problems in your schedule / readiness, so you don't have operational mishaps. Having a solid system of integrated software in place avoids preventable process inefficiencies, late fees, fines, idle resources, etc so you can realize the full value of your development plan. This plan value leak can be reduced to next to nothing with software integrations in place such as Enersight and Operational Scheduling to demonstrate the effects of changes in real time before they happen. While it’s not a crystal ball, it’s as close as it can be for showing you the real consequences of delaying an activity or moving a resource from one site to the next in the software. Understanding the change’s impacts ahead of time lets your teams deeply understand the cascading effects of these changes and how they impact multiple touchpoints of the value chain. This alleviates post change co-ordination, administration, fighting fires and other non-value add tasks. Let your teams focus on value creation instead of mitigating value depreciation.

Think of a time you reallocated a resource to another asset because of a scheduling delay for example. Did you know how it would affect scheduling other near-term activities when you did it, or was it a guess? Perhaps you had a crew and rig on site ready to work, however the permits hadn’t come through yet.

With sophisticated, yet easy to use integrated software, planners using Enersight and operations teams using Operational Scheduling together can share ideas harmoniously while ensuring effective execution of best-case scenarios. Ultimately resulting in maximized plan value by greatly reducing leaks from foreseeable circumstances.

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Make your long term plan an accurate short-term reality

Plans are developed to fulfill both the near and longer term objectives of corporate initiatives. Once a plan is approved, it’s time to set it in motion. This is where operations teams come in to play. As projects continue, active project schedules need to be sent from operations to asset planners so they can bring together field realities with future planning goals. Connected Asset Planning software enables your teams to break down silos and increase meaningful communication by seamlessly sharing plans and activities with each other. This ensures your business runs smoothly. When operations are executing effectively on their plans, Asset Planners can appreciate the true value they’ve committed to the organization. The resulting upward effect is corporate planning teams and executive have greater confidence in asset plans because of improved planning made possible by having the correct execution context. Integrations and coordination between teams enables much smoother execution avoiding conflicts and barriers to success. Modern problems, require modern solutions. What’s holding you back from delivering more on the bottom line?

In a modern energy world, increasing production alone won’t create shareholder value. We know that. Our objective is to be on the leading edge of software to help your business operate at its greatest while ensuring your people can have highly fulfilling jobs that matter to them. Efficiency adds to your business’s bottom line and significantly increases shareholder value by maximizing planned value with effective execution. Read more about how Operational Scheduling benefits your business today. Fill out the form and ask us how to stop the leak.

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