Industry analyses of projects have shown early involvement of all stakeholders in the project ensures that the project is exactly designed to requirements and costly rework is avoided during project execution and construction. Time and again, MEI Maverick Engineering has saved its clients time and money by anticipating, identifying and solving potential project pitfalls when performing “fit for purpose reviews” with key personnel from Operations and/or Maintenance. More important, MEI adds value and reduces total installed cost through Front End Loading (FEL) and Value Improvement Practices (VIP) techniques.
FEL-1
After a project is screened for Concept Development, potential options are framed with their associated costs & benefits. A recommendation is made to move forward with one or competing solutions, which meet the project drivers and economic thresholds. Alternatively, the project may be killed if the project cannot compete for investment.
FEL-2
If a project meets Conceptual criteria, a Decision Support Package is prepared for a project to go forward. During this phase the best option is developed and recommended. A Project Execution Plan is developed along with a Contracting Strategy for the AFE support package preparation and Project Execution. Depending on the project size, preliminary funding for Phase-3 development may be specified.
FEL-3
If the Decision to go forward has been made, the AFE Support Package is prepared for a project to get full funding. At this phase Value Improvement Practices are applied to arrive at the best value for the best option. Major issues are addressed, major equipment is identified for procurement and budgets are worked to +/- 10% accuracy.
MEI Triple Five’s FEL process provides insight, solutions and confidence for your financial and operational decisions.
For additional information, contact our offices.