Studies show that suboptimal front-end engineering leads to significant value erosion for major projects.  Over-capitalized projects generate disappointing returns.  Under-capitalized projects require costly retro-fit.  Phased projects with development optionality often generate the best returns.

 

Non-technical risks make business difficult - budgetary pressures in uncertain macroeconomic environments, regulatory hurdles, commercial and logistical challenges in developing markets.  Operators cannot be complacent about technical risk!

 

   Opportunity Screening, Concept Selection, Execution