Approach - Oppsteg

Capital Value Process – From business case to operation

The stage-gate model is applied to ensure structured project development from business case formulation to profitable operation. The process ensures efficient use of the Company’s resources on predictable and competitive projects.

Distinct project stages allow the team to focus their efforts efficiently, as resources can be focused on the current stage towards a well-defined target.

By each gate, the Project’s technical, commercial and strategic quality is reviewed, and the gatekeeper decides if the Project is allowed to pass.

Feasibility

Focus: Creativity

Decision Gate: Business case verification

Objective: Technical, commercial and organizational feasibility is be demonstrated for at least one concept to justify further development of the business case and establishment of an investment project.

The project is framed, objectives developed and direction is set for the business case. Creative processes to find alternative concepts for investigation in the concept phase are central.

Concept

Focus: Maturation

Decision Gate: Concept selection, pre-investment decision

Objective: Alternative concepts are investigated, evaluated and compared to discard non-viable options and determine the optimal combination of options in the concept that is proposed for further development.

The selected technical concept is firmly defined in the design basis and preliminary project strategies and plans are established.

Definition

Focus: Predictability

Decision Gate: Investment decision

Objective: Further maturation, definition and documentation of the selected concept to increase the predictability of the project execution.

Front-end engineering design is performed to increase definition and estimation accuracy. Project strategies and plans are detailed – ready for implementation in the execution phase. Main contracts are prepared for award.

Substantial efforts go in to the process of reaching a final investment decision. The process includes preparation of the investment proposal and supporting documentation, stakeholder alignment, financial analysis, benchmarking and internal- and external project reviews.

Execution

Focus: Mangement and Control

Decision Gate: Handover to Operations

Objective: Realization of the business case through execution of the planned engineering, procurement, construction and completion processes.

The monitoring and controlling work processes are essential to manage the project – securing delivery of the project scope in a safe manner, on time, on budget and to the correct quality.