OPPORTUNITY PROJECT REALISATION PROCESS The decision box represents

OPPORTUNITY & PROJECT REALISATION PROCESS The decision box represents key management decisions and serve as the GATES which delineate phases. The decision can be to proceed, exit, or recycle. PHASE 2 SELECT PHASE 1 ASSESS Decision Makers The decision makers are individuals responsible for the framing of the opportunity and having the authority to approve the work plan. Stop, Hold, Recycle DECISION EXECUTIVE Stop, Hold, Recycle ………………………. Commit ……………. resources to To Concept Primary Activity progress opportunity DECISION EXECUTIVE Alternative(s) The primary activities completed by the work team in each phase Identify Feasible Concept(s) Screen Opportunity Final Development Plan Recommendation Work Team The multifunctional work team carries out the work under the guidance of the project manager or team leader. Expectations of the decision team are met through frequent communication & alignment of goals. Focus items provide a checklist of key activities, ensuring the quality of the work is commensurate with the next milestone decision being made. Value Improving Practices VIP’s are available to help progression through a particular phase. They assist the teams to maximise value of an opportunity. Guidelines or “how to” manuals/handbooks are available to support key activities in each phase. Assurance Checks support the milestone decision to move to the next phase. They provide decision makers (both technical & commercial) assurance that the recommendations are sound and will deliver maximum value. ……………… ………………………. . Refine Development Plan Option ……………… ………………………. . TEAM LEADER ………………………. Commit To ……………. Execution FID Finalise Business Proposal DECISION EXECUTIVE Asset Acceptance ………………………. Value Enhancing Opportunity FDP BOD ARP Business Proposal Package ………… ………………………. . TEAM LEADER Generate Value/ Revenue Execute Functional Asset(s) Document Selection Report Feasible Concept(s) DECISION EXECUTIVE ………… ………………………. . PROJECT MANAGER Performance Assessment Document Valuation Report Refine Selected Alternative(s) Document Identifies the required deliverable(s) that will enable the decision or bail out New Opportunities TO PHASE 1 Interim Review(s) Deliverables at Major Reviews Focus Items Plan PHASE 5 OPERATE&EVALUATE Stop, Hold, Recycle ………………………. Commit to Development……………. Proceed The process does not end here! Secondary opportunities and projects will loop back into the appropriate phase. PHASE 4 EXECUTE PHASE 3 DEVELOP Stop, Hold, Recycle ………………………. Opportunity More complex projects may need additional intermediate decision reviews in a phase. ………… ………………………. . ASSET MANAGER CLEARLY FRAME GOAL GENERATE ALTERNATIVES FULLY DEFINE SCOPE IMPLEMENT EXECUTION PLAN TEST FOR STRATEGIC FIT PRELIMINARY DEVELOPMENT OF ALTERNATIVES REFINE ESTIMATE FINALISE OPERATIONS PLAN OPERATE ASSET DEVELOP FINAL EXPECTED VALUE BUSINESS PLAN FOR PHASE 5 MONITOR AND EVALUATE PERFORMANCE REGULATORY APPROVAL PROJECT REVIEW IDENTIFY NEW OPPORTUNITIES SUBMIT FUNDING FOR APPROVAL REGULATORY APPROVAL DEVELOP DETAILED EXECUTION PLAN FOR PHASE 4 OTHER FOCUS ITEMS PRELIMINARY OVERALL PLAN PRELIMINARY ASSESSMENT (eg Technical, market, etc. ) REGULATORY APPROVAL DEVELOP EXPECTED VALUE IDENTIFY PREFERRED ALTERNATIVE(S) REGULATORY APPROVAL PLAN FOR PHASE 2 (incl. Funding approval PLAN FOR PHASE 3 (incl. Funding approval and resource requirements) REASSESS EFC, INCL. FUNDING FOR EACH SUCCESSIVE OPREP PHASE & REPORT ON COST & OTHER PERFORMANCE FOR CURRENT PHASE OTHER FOCUS ITEMS. . . • • • OPPORTUNITY FRAMING TECHNOLOGY MANAGEMENT PROJECT EXECUTION PLANNING RISK MANAGEMENT CONSTRUCTABILITY STANDARDS OTHER FOCUS ITEMS • • • BUSINESS PLAN FOR PHASE 5 (DRAFT) • • TECHNOLOGY MANAGEMENT PROJECT EXECUTION PLANNING CONSTRUCTABILITY STANDARDS RISK MANAGEMENT • PROJECT EXECUTION PLANNING(FINAL) • CONSTRUCTABILITY • RISK MANAGEMENT • • • CONTRACTING STRATEGY COST ENGINEERING PEER ASSISTS SUBSURFACE UNCERTAINTY MANAGEMENT • COST ENGINEERING • SUBSURFACE UNCERTAINTY • PROJECT INITIATION REVIEW • COMMERCIAL ASSURANCE REVIEW • FEASIBILITY REVIEW • DEVELOPMENT PLAN(CONCEPT • FINAL INVESTMENT DECISION REVIEW • BENCHMARKING REVIEW (FEL) • COMMERCIAL ASSURANCE REVIEW • • PRE START UP REVIEW • CONTRACTING STRATEGY COST ENGINEERING ASSURANCE PLANNING PEER ASSISTS SUBSURFACE UNCERTAINTY MANAGEMENT Documentation facilitates continuity of effort, captures lessons learned for future projects and evaluates the work done in that phase. MANAGEMENT • SUBSURFACE UNCERTAINTY MANAGEMENT • • SELECTION ) REVIEW • BENCHMARKING REVIEW (FEL) • COMMERCIAL ASSURANCE REVIEW • POST INVESTMENT REVIEW • FINAL: BENCHMARKING REVIEW 22 -2 -2000