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Quantitative Easing 3.0 – Boosting the Amount of

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judy

2021-9-26 published at Spiritual/ Inspirational category

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1.Opening Comments Noé Hernández-Sáenz (Moderator) Burns & McDonnell Engineering
2.Agenda Safety Moment Context Implementation Session Panelists Paul Woldy (Chevron) Financial Analyses (Owners and Contractors) Stephen Mulva (CII) Value of Best Practices Jesus M. de la Garza (Virginia Tech) Safety Data Trends / Findings Kirk Morrow (S&B Engineers and Constructors LTD) Regional (Gulf Coast) Productivity Findings Q&A
3.Financial Analyses(Owners and Contractors) Paul Woldy Chevron
4.Dow Jones Industrial Average vs. CII Owner/Contractor Cohort Index(Normalized to FY2000)
5.Owner Project & Financial Performance
6.Cash Flow/Capital Expenditure Data courtesy of UT McCombs School of Business
7.Economic Value Added/Cash Flow Data courtesy of UT McCombs School of Business
8.Contractor Project & Financial Performance
9.CII BMM Contractor Cohort Project Performance Data source: CII Benchmarking & Metrics Program
10.New Contracts Data source: Engineering News Record (ENR)
11.Economic Value AddedFY/New ContractsFY-1 Data source: UT McCombs School of Business / ENR
12.Value of Best Practices Stephen Mulva CII
13.Best Practices Survey of 306 CII Projects (2007-2009) Corporate and Project Levels Benchmarking Context: 5 Principles of Project Integration Work and Work Process Organizational Engineering Leadership and Governance Communication and Information Flow Culture and Environment Point of Departure
14.Reporting Practice Use Data Zero Accidents Techniques
15.Use of Best Practices Begins with strong leadership; ends with improved performance. Corporate Strategy Project Level Use of Best Practices (Tactic) Project Performance (Bottom Line) Front End Planning Zero Accidents Techniques Constructability Cost Schedule Safety Quality Change Leadership Improvement culture Funding Incentive Dedicated team
16.16 Culture A relationship exists between culture and best practice use
17.17 Project Response Rate
18.Percent of Projects with High Best Practice Use Project Response Rate
19.Impact of Planning Best Practice Use on Cost Performance: Owners Front End Planning Alignment for FEP Planning for Start-up =standard error of mean
20.Impact of Execution Best Practice Use on Cost Performance: Contractors Constructability Project Risk Assessment Change Management =standard error of mean
21.Owners Use of Front End Planning =standard error of mean
22.Owners Use of Partnering =standard error of mean
23.Owners Use of Change Management =standard error of mean
24.Owners Use of Planning for Startup =standard error of mean
25.Contractors Use of Constructability =standard error of mean
26.Contractors Use of Planning for Startup =standard error of mean
27.CII Performance Assessment System (PAS) Data Miner
28.Safety Data Trends and Findings Jesus M. de la Garza Virginia Tech
29.Data Envelopment Analysis A Non-Parametric Performance Measurement Evaluation Technique Inputs Outputs 1/RIR 1/DART Zero Accident Techniques Best Practice Implementation Score Efficiency = Outputs Inputs Decision Making Unit = a project
30.Calculating the Best Practice Implementation Score (BPIS) ∑ 108 points
31.Calculating the Best Practice Implementation Score (BPIS) If data are available for all 13 elements Normalize to a maximum of 108 points BPIS= (∑ points scored/108)*10 If data are missing for up to 4 elements Ignore missing elements and their weights Re-normalize to include only actual data BPIS= (∑ points scored/???)*10
32.Selecting Homogeneous Projects 221 Projects from CII Database 47 Homogeneous Projects Location: Only included lower 48 states Character: Brownfield removed Typical: Non-typical projects removed Survey Completeness: Projects with missing data removed Missing BPIS Fields: ≥ 5 “I Don’t Know” removed Type: Only included Light & Heavy Industrial
33.47 Homogeneous Projects Inherently Efficient Projects Remainder for Analysis RIR = 0 RIR > 0
34.1/RIR vs. Normalized BPIS
35.1/RIR vs. Normalized BPIS
36.1/RIR vs. Normalized BPIS A A’ BPIS= 7.74; 1/RIR = 2.02; Eff = 0.55 BPIS= 7.74; 1/RIR = 3.67; Eff = 1.00 DEA Estimated Efficient Frontier True Efficient Frontier = 1/0 = ∞
37.1/DART vs. Normalized BPIS
38.Issues and Next Steps DEA can handle multiple inputs and multiple outputs (l) Best Practice Implementation Score; (O) 1/RIR & 1/DART We need to study other ways to recalculate the Best Practice Implementation Score when data elements are missing We can generate other homogeneous datasets by adjusting the filters e.g., Light Industrial vs. Heavy Industrial We can apply “Meta Frontier” techniques to compare the performance across multiple homogenous datasets We can extend this type of DEA analyses to other Best Practices
39.Data Envelopment Analysis A Non-Parametric Performance Measurement Evaluation Technique Inputs Outputs 1/RIR 1/DART Zero Accident Techniques Best Practice Implementation Score Efficiency = Outputs Inputs DMU = a project
40.How do we use this Toolkit? Remember: Efficient projects are those with RIR = 0 Leave nothing to chance, typically with High BPIS By pure luck, typically with Low BPIS A Benchmarking Toolkit Determine the relative Safety efficiency of a project Given a BPIS, determine the Safety experience a project should expect Compare a project against “peer” projects
41.Construction Productivity: A First Look at Regional Analysis and Reporting Kirk Morrow S&B Engineers and Constructors, LTD
42.CII BM&M Construction Productivity Definition Appropriate Level of Detail Only Direct Work-Hours Common Definitions for Direct/Indirect Accounts Raw Productivity = Actual Direct Construction Wk-hrs Quantity Installed
43.CII BMM Construction Productivity Database 124 U.S. projects with construction productivity data Not every project answers each metric
44.CII BMM Construction Productivity Database
45.CII BMM Construction Productivity Database
46.Construction Productivity: Gulf Coast vs. Other Locations Only the productivity difference between gulf coast and other U.S. locations; Not enough data to examine other factors concurrently.
47.Concrete
48.Structural Steel
49.Electrical
50.Instrumentation
51.Piping
52.Insulation

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