Optimizing Front End Loading (FEL) for Capital Projects
Optimizing Front End Loading
for Capital Projects
for Capital Projects
Engineers choose between repair, renewal or replacement of ageing property, plant and equipment. When it comes to asset replacement the choice is between like-for-like or adoption of cutting-edge technologies. The key constraints are time, risk, budgets and resourcing.
Modern Front End Loading, also referred to as Front-End Planning, ensures regulatory compliance, enhances stakeholder engagement, and leverages data-driven insights for more effective asset management. Stratex Online is a SaaS solution to more efficiently and effectively identify, evaluate, and prioritize the capital projects that matter most.
Six Key Benefits of Stratex Online for Engineers
1. Risk Management
Deliver projects successfully with strategic risk management and effective project controls
- Consistently assess risk of asset failure to determine urgency.
- Evaluate technological, commercial, and change management risks.
- Balance both risk and reward in project scoring and ranking.
2. Project Portfolio Management
Optimize time and budget allocation to the projects that matter most
- Establish a strong financial framework during front-end planning for funding and cost control.
- Balance Sustenance, Growth, and Transformation funding.
- Substitute and reprioritize projects within overall budgetary constraints.
3. Project Scoring and Ranking
Prioritize projects effectively with a tailored and strategic scoring methodology
4. Compliance and Stakeholder Engagement
Streamline collaboration, review, and approval processes with a single source of truth
- Combine documentation and financial analyses for seamless teamwork.
- Involve IT, procurement, and finance in business case preparation and endorsement.
- Validate data inputs to produce high quality and policy-compliant business cases.
5. Data Driven Decision Making
Streamline decision-making with timely, accurate and reliable data
- Automatically calculate consistent and reliable  financial metrics including NPV, IRR and payback period
- Adjust global assumptions in line with operating conditions and re-evaluate projects accordingly.
- Combine plan, actual and forecast data to provide timely actionable insights and decisions.
6. Streamlining Requests for Appropriation
Streamline requests with aligned goals, standardized metrics, and efficient approvals
- Align projects with area strategic objectives to clearly identify your most important needs.
- Provide justifications, supporting documents and approval histories for efficient evaluation.
- Accelerate approval workflows and transparently monitor approval status.
Engineers Perform Better
with Stratex Online
with Stratex Online
Prioritize the projects that matter most with Stratex Online. Streamline your decision-making, enhance project selection, and ensure strategic alignment. Discover how Stratex Online Front End Loading can help you focus on what truly impacts your organization. Start today and keep up with us on LinkedIn!
