Том 1

Проблемы развития внешнеэкономических связей и привлечения иностранных инвестиций: региональный аспект, 2010The Project IRR (Internal Rate Of Return) is such a discount rate value (r), at which the project NPV amounts to zero. In other words IRR shows themaximum interest rate, at which an investor can allocate investments for the project, in order to ensure return on investments at this interest rate.The Project PB (Payback Period) refers to a period of time since embarking on project financing which is required for covering all investment costs onaccount of cash flows generated under the project. In simple terms, PB shows that moment since commencement when investor is to pay back its project costscompletely, taking into account obtaining required return. Since this moment all additional project income is additional bonus for investor.The Project DPP (Discounted Payback Period) is a type of PB, which refers to a period of time since embarking on project financing when all discountedinvestment costs will be covered by discounted cash flows generated under a project.A sensitivity analysis is also performed to determine how a change in a project factor affects the NPV; for example Capital Cost, Margin, Increase/Decrease inProduction or Shut Down period. Others may be added as required.FEL 4The FEL 4 stage is the execution or construction phase. The main highlights are as follows:• The Project Execution Phase includes design and engineering for construction, manufacturing, erection and commissioning of theequipment/facility.• The success of this stage depends strongly on two items-– The prior 3 stages being completed thoroughly and accurately– The project manager taking ownership and responsibility for the success of the project. They must have the authority to make keyproject decisions.• The construction contractor must be brought into the process early on as part of the project team.• A cost control system / strategy will be implemented tracking costs and providing reports.• Frequent update meetings with project manager and their key staff. Communications is critical for success. If one department is behind orstruggling it must advise the team as to not affect the whole project and to develop a solution.• Training is very important to ensure employees are prepared to use new equipment and avoid problems on start-up.• Integration and testing of IT equipment should be done in off-line in advanceThe FEL 4 stage is generally managed by a large on site project team of many disciplines. The project manager has complete authority over the project, andprovides weekly or monthly updates to a management steering committee. Organization and planning are critical to ensure success, for example on aninstallation during a major mill shutdown, the construction schedule must be broken down into hourly increments.Project ManagementThere are many companies in the West that specialize in EPCM (Engineering and Project Management). The will develop all the documentation for the FELstages up to FID and also manage the execution phase. As major corporations reduce their own Engineering and Project Management Departments to cutoverhead costs, the use of outside project management companies has increased. All the costs associated with the project can be clearly identified and if thereare no projects being developed, corporations are not paying for their staff to be idle.Project Management does not only mean Engineering but includes many other key items:– Safety– Quality– Cost Controls– Logistics– Scheduling– Human Resources– Selection of Main Equipment Suppliers– Technology SelectionSafety in Project ManagementSafety is the number one priority on any project- it is not acceptable to have anyone hurt or killed on a project. During the feasibility phases, HAZOP (HazardOperations) reviews are conducted to where possible, engineer out any significant risks to employees. Each vendor and contractor is assessed based on theirpast safety performance; those with poor records are not used on the project. During the construction phase, frequent safety meetings are conducted and anonsite safety manager ensures construction work is conducted in a safe manner.Advantages to Project ManagementThe initial cost of using a professional project management company appears high, but there are many advantages and long term cost savings. First andforemost, having the project completed on time and on budget.The main advantage to Project Management is having one person/group take responsibility for the entire project ensuring effective communication and makingtimely decisions. Developing a detailed plan is critical to the execution- even the best companies will not have successful projects without proper planning. Aextension in a mill shut down for an installation can result in millions of dollars a day in losses..Project costs are continually monitored and reported to ensure adherence to plan. Any additional costs must be approved by the Project Manager, or if there aresubstantial cost increases from the FID price, the additional costs must be approved by Senior Management before the project moves forward.The project schedule undergoes regular reviews and updates. It is too late to update a schedule after a deadline has passed. It is better to adjust the schedule andadvise the affected parties than to wait and miss the deadline which may impact many other activities.Using a professional project management company also ensures the best available equipment and technology is selected. The project management companywill select the best technology however the customer generally has the final decision on who is selected as main equipment supplier.ConclusionUsing a project development process that uses a Front End Loading concept significantly improves the accuracy of the capital cost estimate and projectschedule used for the Final Investment Decision.Although it can initially appear expensive, the use of a professional project management company will significantly improve project development andimplementation, which will result in significant savings in the long term.РЕЗЮМЕВ статье рассмотрены вопросы управления проектами в аспекте различий между западным и восточными подходами.РЕЗЮМЕУ статті розглянуті питання керування проектами в аспекті розходжень між західним і східним підходами.SUMMARYIn article questions of management by projects in aspect of distinctions between western and east approaches are considered.57