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Surviving 2020: Allocation of asset spend in a new reality

Stuart Elliot

Stuart Elliot | | 17 June 2020

There’s a perfect storm brewing up critical challenges related to asset integrity and maintenance. It’s marked by capital constraints, tightening maintenance budgets, and waves of integrity-related work. This survival guide will share how you can close the widening gap between business plan demands and what aging, strained assets can reliably deliver.

2020 has been a perfect storm. Demand has plummeted. We’ve suffered all types of social disruption and financial volatility. The result has been a market environment demanding abrupt decisions about both in-progress and near-term capital investment plans. This storm was not forecasted, its impact is severe, and the response demands extreme portfolio management. 

Managing capital programs is a challenge under normal conditions. There are competing priorities, limited resources, and the typical problems encountered during project execution. How we manage these challenges makes the difference of whether our assets can deliver the business plan despite the uncertainty. The extreme environment within which we now find ourselves demands decisiveness. Any mistakes could be critical. 

 

We’ve identified a few things you should be asking yourself now to provide a clearer, easier path towards stability and sustainability into the future.

 

The events of the next 12 months are anybody’s guess. How we handle the capital program portfolio can make a huge difference to the condition of an asset a year from now. Survival seems the first priority. But when the crisis passes - and it will - you'll want to be in a position to prosper. To do that, you'll need to be leaner, smarter, stronger, and quicker.

To help you get there, our experts present this guide: "Surviving 2020: Allocation of asset spend in a new reality." Inside, we share our tried and tested approach to managing your portfolio of projects, and identify questions you should be asking yourself now to not only survive, but thrive through 2020 and beyond. 

2020 Survival Guide

Download the guide