The urgency to address management challenges within Shutdowns, Turnarounds and Outages (STO) has reached a critical juncture. Industries are not only grappling with budget overruns, misalignment with strategic business goals, and a lack of historical data for effective asset management but are also facing a dire shortage of experienced resources. This scarcity of skilled personnel intensifies the need for efficient STO solutions, as organizations can no longer rely solely on manpower to overcome these hurdles. However, waiting on STO events until these issues are worked through risks significant financial losses, operational bottlenecks, and even safety compromises.
Hexagon’s EcoSys solution offers a timely and effective means to transform STO Portfolio Management: It centralizes data, facilitating TAR planning and execution while enhancing cost control, strategic alignment, and resource optimization.
Key Benefits For STO Portfolio Management
EcoSys processes are configured to meet the needs of STO portfolio management, providing better:
Enterprise-wide view of your event’s costs and schedules to avoid overlap
Streamline the annual budgeting processes
Early-stage estimation for STO events
Plan Effectively and Drive Efficiency
In today’s industrial landscape, effective STO management critically depends on robust asset management practices coupled with accurate planning.
However, many organizations are grappling with the complexities of ‘different colors of money’, where expenses are categorized differently across departments and projects. This disparity, coupled with the absence of historical data, often managed through fragmented homegrown spreadsheets and access databases, leaves STO event planning terribly inefficient. It creates financial strain and hampers the alignment of expenditures with overarching business goals.
Hexagon’s EcoSys addresses these challenges head-on with its STO Portfolio Management solution by providing a centralized platform to harness and leverage your data. This facilitates seamless TAR (Turnaround) planning and execution, enabling you to gain comprehensive insights, streamline expenditures, and enhance operational efficiency in STO management.
Additional STO Portfolio Management Highlights
Leverage EcoSys to minimize the risk and downtime associated with STO across your enterprise:
- Create and manage financial, human and equipment resource plans for STO projects.
- Optimize resources based on demand, progress, and performance.
- Develop detailed estimates and resource plans to optimize STO scope.
- Integrate with ERP systems and time and cost management systems to automatically extract and load cost, schedule and progress data.
- Accurately calculate forecasts based on progress and performance and adjust remaining work plans accordingly.
- Identify and manage issues, risks and changes with consistent STO management procedures with EcoSys Visual Workflows.
- View dashboards and respond to requests on any mobile device.
- Automatically calculate KPIs to report performance quickly to stakeholders.