RMC-09-11 Trade-Off Economics In Plant Turnarounds

Description:

This paper attempts to answer some of the underlying questions involved in effective decision‐making for turnarounds. The relatively short execution timeframe of turnarounds largely inhibits corrective actions mid‐ performance. However, turnaround managers need tools to assess impacts that specific decisions may have on the financial outcome of a turnaround. A turnaround trade‐ off model will allow companies and teams to adopt a turnaround strategy that helps to understand and optimize trade‐offs. The tool is based on the analysis of the factors that most affect safety, cost, and duration of a turnaround.