Escape from mediocrity

26
An Escape From Mediocrity

Transcript of Escape from mediocrity

Page 1: Escape from mediocrity

AnEscapeFrom

Mediocrity

Page 2: Escape from mediocrity

86% Over budg

et

Page 3: Escape from mediocrity

Consequences of Delayed, Over Budget Projects

Page 4: Escape from mediocrity

Don’t Stress

Us Out!

Page 5: Escape from mediocrity

Top 5 in 5To achieve excellence in execution, deliver a consistent product to our

clients which complies with our contractual obligations, and seeks to exceed expectations while achieving

planned financial results"

Page 6: Escape from mediocrity

Build abetterproduct

Page 7: Escape from mediocrity

High Quality

Page 8: Escape from mediocrity
Page 9: Escape from mediocrity

Planning1

Page 10: Escape from mediocrity

Time Spent Planning

Reality16 months

Forecast12

months

Planning1 month

Page 11: Escape from mediocrity

Vision

Page 12: Escape from mediocrity

Schedule

Reschedule

Float

Page 13: Escape from mediocrity

Optimism bias

Page 14: Escape from mediocrity

Black Swan

Page 15: Escape from mediocrity

Communication

2

Page 16: Escape from mediocrity
Page 17: Escape from mediocrity

Honesty & Transparency

Page 18: Escape from mediocrity

Strategic Misrepresentation

Page 19: Escape from mediocrity

Anchoring

effect

Page 20: Escape from mediocrity

Getting Answers

(Not just the ones you want!)

Page 21: Escape from mediocrity

Discipline3

Page 22: Escape from mediocrity

“A 'No‘ uttered from the deepest

conviction is better than a 'Yes' merely

uttered to please, or worse, to

avoid trouble.”

Page 23: Escape from mediocrity

1/2 wayFEED of Refinery

Simulation:(4 more cases)

PFD’s

H&MB

Detailed Lv Calcs

P&ID’s

Add distribution

ENDFEED of Refinery

Simulation:(4 more cases)

PFD’s

H&MB

Detailed Lv Calcs

P&ID’s

Add distribution

Technology study

Feedstock change

Project PlanFEED of Refinery

Simulation

PFD’s

H&MB

FEED Lv Calcs

P&ID’s

Scope Creep

Page 24: Escape from mediocrity

Bikeshedding

Page 25: Escape from mediocrity
Page 26: Escape from mediocrity

Photo References

Brown Cow http://ponyridingby.blogspot.ca/2011_11_01_archive.htmlTigers in water http://www.ck12.org/user%3AeWVvbWFubWlrZUBzYXlkZWwubmV0/book/Saydel-Biology-Flexbook/r13/section/22.0/Mammals-and-Animal-Behavior-%253A%253Aof%253A%253A-Saydel-Biology-Flexbook/ Gandhi http://www.wallpaperswala.com/mahatma-gandhi/Dog with burger http://myfangalicious.files.wordpress.com/2011/12/img_87372.jpgOil refiner http://tropicaldaily.com/nicaragua/mega-oil-refinery-project-brings-both-hope-and-concern-to-nicaragua/Glass half full http://hd.wallpaperswide.com/thumbs/glass_of_water_half_full-t2.jpgButterfly http://www.turtok.com/wpcontent/uploads/2012/10/Glass_wing_or_clear_wing_butterfly_Wallpaper_h6675.jpgLying http://www.ionpsych.com/wp-content/uploads/2011/03/lying-main_full1.jpgShed http://www.junglecatmedia.com/wp-content/uploads/2012/04/shed0039.jpgCoughing http://img4-2.realsimple.timeinc.net/images/stock-images/man-coughing_300.jpg

Literary references

Bent Flyvbjerg et al. (2002). Underestimating Costs in Public Works Projects, APA Journal, vol.68, No. 3, Pg. 279.Steen Linchtenberg et al. (2005). How to avoid overruns and delays successfully, Proposed ICEC Journal.Nassim Nicholas Taleb. (2007). Black Swan. Random House.Daniel Kahneman. (2011). Thinking Fast & Slow. Farrar, Straus & Giroux.