Version 10 (modified by gordonrachar, 12 years ago)

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ISO 15926 Benefits for Project Managers and EPCs


Contents

  1. Understanding the Cost and the Value of the ISO 15926 Capital Spend
    1. Information Needs in Industry are Increasing
    2. Large Capital Projects have Unique Challenges
    3. Reducing the Cost of Information Management, Increasing the Value of …
    4. The Value of a Standard Representation
    5. The Value of Precise Classification
    6. The Value of Uniform Transfer and Query
    7. The Value of Custom Information Models
    8. The Value of Retaining Existing Systems
    9. Gradual Adoption of ISO 15926
    10. Investment in ISO 15926 is Low Risk
  2. Conclusion
    1. Next
    2. Acknowledgements


Understanding the Cost and the Value of the ISO 15926 Capital Spend

Large capital projects require the ongoing management of complex information flows between different organizations and systems.

  • The cost of information handling is a significant proportion of a project budget.
  • The impact of poorly communicated, misunderstood or absent information can be even more significant, possibly introducing project delays or compromising the contract.

ISO 15926 assists in the management of these flows by formalizing the representation, classification, transfer and query of information. Increasing the availability, timeliness, and accuracy of information:

  • Allows better risk anticipation
  • Closer cost controls
  • Contributes to timely execution of the project.

The costs of implementing ISO 15926 are balanced by the gains in information handling bringing substantial benefits to the project manager.

Information Needs in Industry are Increasing

Industry tends to manage greater complexity, the need for less waste, and tighter regulation by creating more information. As the volume of information increases, and as the number of information sources rises, the cost of handling the information also rises.

Large Capital Projects have Unique Challenges

On large capital projects information must flow across a large number of organizational boundaries to people of different disciplines, using different information management systems. Maintaining consistency of the interpretation of the information in this environment, allowing for more-or-less constant change, can be very difficult. Access to information must be controlled to preserve its integrity, but must still be timely in order to support the project schedule. These issues have always been part of large capital projects, but are made worse with the increase in information that industry is dealing with today.

Reducing the Cost of Information Management, Increasing the Value of Information

ISO 15926 reduces the cost of information management by removing barriers to flow and maintaining data quality across organizational boundaries. It does this by standardizing information representation and classification while supporting custom information models and complementing existing systems.

The Value of a Standard Representation

Standard representation reduces the cost of migrating data from one system to another. Even if the representation is not native to any environment, the use of a single, well-defined exchange form greatly reduces the time and cost compared to reconfiguring information flows for every new organization or system.

The Value of Precise Classification

Precise classification greatly eases the reuse of data from one discipline to another. Rather than relying on the context of the data to imply qualities about it, the data carries knowledge of all of its qualities with it. This reduces the chance of information being misinterpreted as it crosses system boundaries. Precise classification also reduces the cost of searching for information by eliminating false matches and presenting more relevant information.

The Value of Uniform Transfer and Query

ISO 15926 reduces the cost of managing access to different systems by providing a uniform front-end. This allows a system to efficiently and consistently query data distributed across many organizations. It also provides a single mechanism for transferring ownership of information from one organization to another.

The Value of Custom Information Models

Retaining custom information through the lifecycle reduces costs by eliminating duplication. Custom information does not need to be reconstructed when it is modified in an external system and returned to an original system.

The ability to extend information models with custom alterations facilitates the movement of data between systems during design revisions and build changes. Information expressed in custom portions of the model is treated with the same respect as information in the core parts of the model. Custom elements are retained throughout the information lifecycle as they traverse system to system.

The Value of Retaining Existing Systems

ISO 15926 reduces costs by relieving organizations from the pressure to adopt a single vendor’s system just to interoperate. ISO 15926 does not aim to replace existing systems. Rather it complements systems that are already there by allowing them to interoperate and exchange information in a manner which retains the value of the information.

Gradual Adoption of ISO 15926

ISO 15926 is made up of many different parts, which do not need to be implemented together. It is possible to work from an entry level, realize some tangible benefits, then gradually implement the full suite over time. Moreover, ISO 15926 operates with existing systems rather than replacing them. The imbedding of ISO 15926 into the project information flows is a gradual process, extending its reach as its benefit becomes apparent.

Investment in ISO 15926 is Low Risk

The only fixed cost of implementing ISO 15926 is the funding of a working group. This cost is directly balanced by the benefits of less costly information management, more precise classification because of standard representation, and uniform data transfer and query. The potential rewards are better risk management, informed cost control and timely execution.

Conclusion

ISO 15926 can assist in the management of information flows in large capital projects, reducing the overall cost of information and increasing the value of information through all phases: from design; through commissioning; and even into operation and decommissioning. The availability of information, its timely delivery and appropriate access greatly aid in risk management, cost control and timely execution. The cost of an ISO 15926 initiative is easily offset by the gains that can be realized over the timeframe of a typical large capital project. The risk is low and the potential gain is an on-time, on-budget performance that delivers enhanced value to the customer and earns repeat business.

Next

Acknowledgements

Thanks to NRX Global for documents that this page is based on.


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