Cost Optimization Benchmark
Cutting costs is easy, sustainable cost optimization is not so simple
How do you know that you are making the correct cost optimization decisions?
Without a thorough understanding of operational performance, oil and gas managers who are under pressure to improve the bottom line usually have no other recourse but to cut spending in the absence of an evidence-based decision-making rationale. This poses several challenges and risks:
- Unnecessary spending reductions made with long-term adverse consequences
- Sub-optimized performance resulting from focusing cuts on efficient performance areas
- Difficulty in agreeing and justifying decisions made
The Juran Benchmarking Cost Optimization program allows oil and gas operators to leverage the power of comparative data directly from their industry peers to:
ACHIEVE COST OPTIMIZATION.
REDUCE THE RISK OF INCORRECT DECISION MAKING.
BACK YOUR ROADMAP TO IMPROVEMENT WITH DATA.
What can Benchmarking Deliver
The Juran Benchmarking Cost Optimization program enables operators to see their performance from an external perspective and optimize their operations by:
- Identifying the areas to focus on and prioritize
- Quantifying the correct targets to set
- Developing a data-backed plan for cost optimization
- Providing evidence to justify your decisions to stakeholders
The Juran Benchmarking Cycle has been developed over a quarter of a century working with oil and gas operators to deliver results effectively and reliably: Process
- Phase 1 – Planning and Kick-Off
- Phase 2 – Data Collection
- Phase 3 – Data Validation
- Phase 4 – Data Normalization: Asset Complexity Analysis
- Phase 5 – Data Analysis
- Phase 6 – Results and Opportunities Delivery
- Phase 7 – Develop Action Plans (optional)
Delivery of results in as little as 6-8 weeks
Download the Case Study
Learn how an onshore producer in the Middle East leveraged the power of the Juran Benchmarking Cost Optimization program to focus its efforts on the correct areas of improvement for its asset.