Embracing a systems-driven approach to drive success in the new energy era

By 2027, a massive $130 trillion of investments are expected in energy and utilities capital projects to decarbonise and renew critical infrastructure.

With capital project cost overruns averaging $1.2 billion and delays typically spanning six months to two years, how can your business improve energy asset management while efficiently delivering on this once-in-a-lifetime capital influx? Consider digitalising the lifecycle of your capital assets. Whether you’re an owner-operator or an engineering, procurement, and construction company (EPC), digitally connecting your design, build and operations using a systems-driven approach keeps your stakeholders, processes and data continuously in-sync while accelerating productivity and performance.

Use a requirements management platform to stay continuously compliant

Without having end-to-end digital connectivity, capital projects risk delays and cost increases as teams struggle to manage requirements and keep pace with change.

Additionally, capital projects include multiple stakeholders, including engineers, contractors, suppliers and original equipment manufacturers (OEMs). Managing these relationships while ensuring compliance adds additional complexity and causes significant pressure on financial performance and project deadlines.

Now, the good news: you can establish continuous integration across the entire capital asset value chain by adopting a requirements management platform. With this in place, your business can benefit from:

• Connecting project requirements to all asset lifecycle stages with continuous verification and cross-domain traceability
• Adopting a systems engineering approach to align people, processes and data
• Managing change more effectively while remaining compliant as regulations and industry standards evolve
• Building a comprehensive lifecycle management architecture blueprint to start and stay integrated
• Using advanced visualisation and a low-code application development platform to connect, enrich and visually navigate asset information

An HVAC leader-fuelled digital transformation with a requirements management tool

A pioneer in heating technology since 1874, Vaillant Group also specialises in air conditioning, ventilation, renewables and hot water. Its mission is to develop a clear vision for the future of sustainable and responsible system solutions.

This German HVAC leader established a goal of building a single company-wide toolset that would provide all stakeholders access to the same information source while enabling teams to define consistent engineering requirements.

To meet its goals, Vaillant Group:

• Introduced a requirements management tool that provided a consistent way of specifying requirements through the complete product development process
• Created a central collaboration platform with all product lifecycle-related topics in a single area
• Reduced data silos and disconnected processes
• Accelerated digital transformation capabilities

Realise new levels of capital asset productivity and performance with a systems-driven approach

With historic investments pouring into energy and utilities capital assets, owner-operators and EPCs have a historic opportunity to improve their capital project management while reducing the risk of cost overruns and project delays.

By connecting your requirements to all asset lifecycle stages and adopting a systems-driven approach, your business can reduce the risk of cost overruns and project delays by keeping your stakeholders, processes and data continuously in-sync. This includes improving connectivity between enterprise asset management systems while ensuring that your data is accurate, up-to-date and flows smoothly.

At Siemens, our clear aim is to facilitate co-creation and collaboration between partners, customers and developers. Our single open digital business platform, Siemens Xcelerator, enables customers to accelerate their digital transformation easier, faster and at scale. We approach the challenges of digitalisation with three pillars: a curated portfolio of connected hardware and software, a powerful ecosystem of partners, and an extensive marketplace.

We encourage all ADIPEC 2024 attendees to visit our booth in the Digitalisation area to discover how we can help transform your business.