Posted by Ben Simpson on Monday, February 3, 2025
Every project starts with a list of questions and, while these questions are important, some can’t be answered until time and work have been put into the project long before design and construction can start. These could be questions like: Is this project even possible? What equipment and technologies exist? How much will this cost to construct and operate? What permitting or constructability challenges exist?
Pre-engineering studies answer these questions. These are primarily known as FEED (Front-End Engineering and Design) or feasibility studies, depending on the industry, and can vary in detail, turnaround time, and cost. More detail at the FEED stage ultimately results in less risk and uncertainty in funding and executing a project. FEED brings to mind Benjamin Franklin’s famous quote, “An ounce of prevention is worth a pound of cure” – meaning some up front planning can really save exponential time and costs during design and construction.
FEED is just that kind of prevention. It is a pre-project planning process that helps to identify risks, create a budget, and establish a plan of execution for a project concept. It can be used to determine a project’s likelihood of succeeding.
As an energy producer or utility provider, FEED Studies can provide the following specific benefits to your project concept:
- Enables the project manager to release detailed and accurate RFPs for engineering, design, and construction.
- Reveals show-stopper constructability, permitting, or system design factors before wasting money on design.
- Expedites an engineering and design schedule with planning occurring during the FEED Study.
- Decreases the chance of having to redo work during the design phase due to otherwise unforeseen obstacles.
- Serves as a tool to establish cost and schedule with a prospective customer.
FEED Studies are being implemented globally to boost energy pursuits. The US DOE has recognized the benefits of the process by channeling federal funding towards FEED Studies for projects that may reduce greenhouse gas (GHG) emissions.
Investor feedback indicates that the FEED Study product builds a “robust business case” through the elimination of risk.
Consider adding a FEED Study to your planning strategy to inform your investors, for cost savings, and for schedule expediting. Our clients have found the FEED Study process to be money well spent.
Whether you’re ready to add a FEED Study to your planning strategy, not sure if it’s right for your project concept, or somewhere in between, reach out today for more information!
Categories: Oil & Gas Infrastructure
Tagged: Energy Planning & Management | Project Management