LEAN ENERGY MANAGEMENT-5: Enterprise-wide systems integration needed in ultradeepwater operations

11/24/2003
In the first four parts of this lean energy management (LEM) series we have laid out the logic for adoption of lean management techniques common to other manufacturing industries like automotive and aerospace to cut cost and cycle time in the ultradeep water.Use of project life-cycle processes, systems engineering analyses, real options, feature-based design, virtual manufacturing, and supportability are all required for LEM to be successful.We have also shown that the deepwater industry, in particular, must abandon the net present value (NPV) economic model in favor of a more sophisticated real options methodology that is more adaptive to the uncertainties of cost, commodity price, and r...
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