Framework and rationale for economic considerations in industrial plant business

Abstract

To remain competitive, industrial plant manufacturers need to increase their engineering performance. This requires an assessment of engineering performance first. Since engineering is connected in multiple ways to other disciplines, stages in the value-add chain and phases of the plant life cycle such an assessment proved to be difficult. This contribution presents a pragmatic model to systematize subjective interpretations of engineering performance in order to support plant manufacturers to achieve a holistic and comprehensive picture of engineering performance. It further aims to increase the awareness of plant manufacturers for weaknesses of current performance assessment approaches. The contribution is based on a literature review and qualitative indepth expert interviews, which results have been validated and prioritized in a web-based quantitative survey. Current economic considerations turned out to be not suitable to assess engineering performance, since they have been developed for physical goods or have a strong focus on costs. Based on best-practice sharing, case studies and expert interviews a model was developed which supports plant manufacturers to structure performance and to illustrate challenges and weaknesses of current assessments. The presented model breaks engineering performance down into three dimensions. The subjective interpretations of performance were considered by two perspectives.