Your project proposals must capture and quantify the multiple benefits of operational or technology improvements if you’re to avoid costly project scope definition later. This online course will bring you up-to-date on the basics of value propositions - including metrics, models, strategies, and best practices—so you’ll be ready when it’s time to develop your next project proposal.
Will your project deliver reduced operating costs? Improved capacity? Capital cost savings? Take this course to learn how to translate the technical objectives of your chemical process projects into value creation and, using simple models, quantify their benefits in financial terms. You’ll gain a solid foundation in the philosophy and metrics of value propositions, the capital and operating components, cash flow considerations and the difference between need-based and opportunity projects. You’ll then focus on operational improvements and how to figure the value of reliability improvements and process control improvements. The course goes on to address technology improvements, including different types and goals, as well as conversion, selectivity and yield issues. Real-life examples throughout the course will illustrate how to eliminate off-spec material reruns, calculate utility charges for maintenance activities, optimize multi-product campaign strategies, value multi-step reaction and distillation improvements, and more.
Learning Outcomes:
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Use various metrics to quantify a value proposition
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Define the financial term “margin”
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Develop value propositions for plant reliability improvement projects
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Create simple material balance models to yield improvement studies
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Tie campaign strategies to available storage and calculate savings from different strategies
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Organize a team approach with an efficient work flow
Who Should Attend:
Anyone who develops project proposals, is involved in project evaluation related to technology or manufacturing improvements or helps to fill the new idea pipeline will benefit from this course. It will be especially useful to those in the commodity chemicals or specialty chemicals industries, including:
- Process engineers
- Researchers
- Production engineers
- Project engineers
- Project managers
- Project champions
Course Outline
- Lesson 1: Introduction
- Value Proposition and Its Metrics
- Capital and Operating Cost Components
- Cash Flow Considerations
- Need-Based versus Opportunity-Based Projects
- Business Opportunity Overview
- Value Proposition Philosophy
- Technology Licensing Example
- Lesson 2: Operational Improvements
- Reliability Improvement Value
- Process Control Improvement Value
- Small Debottleneck Value Example
- Off-Spec Material Rerun Example
- Campaign Turnaround Example
- Lesson 3: Technology Improvements
- Improvement Types and Goals
- Conversion, Selectivity and Yield
- Multi-Step Reaction Improvement Example
- Distillation Improvement Example
- Value Proposition Best Practices
- Final Exam
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