VIP – Value Improving Practices

VIPs are a set of research-backed methods that are typically done during FEL planning to improve project performance.  Implementing VIPs in a way that truly adds value to a project requires that they are led by individuals with appropriate experience and expertise, preferably outside of the project organization.

The VIP is not merely a detailed review of any given aspect of the project. The results of VIP exercises will be recorded in a way that it is possible to assign accountability for the incorporation of those results in a project.

To best use its resource, the company refines it´s list of VIP´s as those that will generate the greatest return on the portfolio of work.

The results of VIP application must be documented. This provides a basis

a) for team alignment of resultant objectives

b) against which the project team can evaluate the effectiveness of the practise, and

c) for lessons learned and root cause analysis

d) for gate release approval (FEL)

How it works in a project life cycle?

As we move further into investment in a capital projects we lose the ability to influence/ change direction of the project.

Lesson Learned

·        Use structured approaches for VIP´s and FEL aligned

·        Ensure that all parties participate, contribute

·        Encourage involvement of engineering specialists

·        By using VIP´s, project risk´s changes for better condition

·        Different approach to the opportunity

·        Outcomes are implemented in project development