ABB Unveils New Industrial Project Tool
ABB (ABBN: SIX Swiss Ex) this week unveiled an industrial project execution method that it contends can reduce capital expenditure by up to 40 percent and compress delivery schedules by up to 30 percent.
“2020 has been a year of disruptions across the global energy industry,” Peter Terwiesch, president of ABB’s Industrial Automation unit, commented in a written statement emailed to Rigzone. “With falling oil prices, challenges induced by the current lockdowns and the rising demand for sustainable energy investments, companies are looking for new ways to reduce cost, schedule and risk for major projects in this low capex environment.”
According to ABB, the company’s new “Adaptive Execution” agile method uses visualization and thus removes the need for on-site engineering and reduces the physical hardware needed for a control and automation system. The firm also pointed out that decoupling hardware and software lowers time and overall setup costs and cuts by up to 85 percent the number of engineering hours spent installing, commissioning and testing a project.
The project execution method applies modular design and standardized, repeatable processes that centralize infrastructure, tools and resources, enabling stakeholders to collaborate from inception through to completion, ABB stated. ABB Energy Industries President Brandon Spencer contends the system will change how customers, engineering procurement construction contractors and vendors interact.
“We can create better business value for our customers by creating an environment where everyone can do his or her own part with confidence, empowering delivery teams to achieve more, in less time,” he concluded. “This is the key to overall project success.”
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