ABB introduces new, agile method to industrial project execution to help energy customers adapt to challenging market conditions. Up to 40 per cent capital expenditure reduction is expected, delivery schedules are expected to be compressed by up to 30 per cent.
ABB Adaptive Execution™ integrates expert teams, new technologies, agile processes, shared learnings, and proven methodologies into a single, streamlined project execution experience for all stakeholders involved in major capital investment projects.
In the energy sector, it is not uncommon for large capital projects to significantly exceed budget and experience extensive delays. ABB Adaptive Execution™ addresses major inefficiencies that result in cost and schedule overruns. It enables greater visibility across all layers of a project, unlocking significant project value improvements across the energy sector. With digitalization and collaboration at its core, Adaptive Execution™ is expected to reduce automation related capital expenditure by up to 40 per cent, compress delivery schedules by up to 30 per cent and start-up hours by up to 40 per cent.
Using virtualization, Adaptive Execution removes the need for engineering on site and reduces the physical hardware required for a control and automation system. By decoupling hardware and software, Adaptive Execution™ lowers the time and overall setup costs, cutting the number of engineering hours spent on project installation, commissioning and testing by up to 85 per cent.
Peter Terwiesch, President of ABB Industrial Automation said: “2020 has been a year of disruptions across the global energy industry. With falling oil prices, challenges induced by the current lockdowns and the rising demand for sustainable energy investments, companies are looking for new ways to reduce cost, schedule and risk for major projects in this low capex environment. Harnessing advances in digitalization, ABB Adaptive Execution™ responds to this need and enables capital projects to thrive in the new normal.”
Harnessing efficient modular design, combined with standardized, repeatable processes and shared and effective deployment of infrastructure, tools, and resources, ABB Adaptive Execution™ centralizes collaboration across all project stakeholders — from a project’s inception through to its successful completion.
Brandon Spencer, President of ABB Energy Industries commented: “Adaptive Execution will change the way in which customers, Engineering Procurement Construction (EPC) contractors and vendors interact. We can create better business value for our customers by creating an environment where everyone can do his or her own part with confidence, empowering delivery teams to achieve more, in less time. This is the key to overall project success.”
ABB is hosting a virtual customer event and press conference to mark the global launch of ABB Adaptive Execution™ on October 20 from 15:00 until 16.30 CEST. Josh Linkner, tech entrepreneur, venture capitalist and New York Times best-selling author will be a guest speaker at the event.
All those taking part will be given exclusive access to the ABB Adaptive Execution™ Virtual Lab where they will experience core attributes of the solution: Vision; Effectiveness; Collaboration; Agility and Efficiency; in virtual pods. If you would like to attend, please register here https://new.abb.com/oil-and-gas/events/events-in-2020/abb-adaptive-execution-media-event/
ABB Industrial Automation ABB’s Industrial Automation business offers a broad range of products, systems and solutions for customers in the process and hybrid industries. These include industry-specific integrated automation, electrification and digital solutions, control technologies, software and lifecycle services, as well as measurement and analytics, marine and turbocharging offerings. ABB’s Industrial Automation business is #2 in the market globally. With deep domain knowledge, experience and expertise, ABB Industrial Automation helps customers increase their competitiveness, improve their return on investment and run safe, smart and sustainable operations.