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1. Hire strategically, and with the appropriate long-term incentives, to build core and strategic capabilities and skills internally aligned with current and future business growth.

2. Review the role third parties could play by fundamentally challenging the traditional operating models.

3. Rethink contracting strategies as power shifts back to owners from engineering, procurement and construction companies.

4. Develop and deploy—internally and to third parties—a cross-project set of tools and processes to improve visibility, standardize information and decrease cost.

5. Implement a continuous process of review, moving forward from planning and initial design to post-investment decision and to in-production asset.

Leading companies and project managers can take advantage of the energy-industry slowdown to rethink approaches for successful delivery of major projects. Five critical strategies, Accenture believes, can help companies transform organizations without major disruption, enabling them to emerge stronger and more cost-efficient.

Source: Accenture.

Major potential to influence cost occurs in upfront planning and design.

Companies that focus on becoming more disciplined now will not only be able to stretch their current capex budgets, but they are also likely to position themselves to deliver higher project returns and sustainable shareholder value well into the future.

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Ability toInfluence Co st

CumulativeProject Cost

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Navigating the Crude Cycle

The Upside of Capex PostponementFive actions to help achieve success with major projects in energy