March 2016 Update
Click here for the Horizon 360 update on tracking emerging technologies.
November 2015 Update
Fiatech has developed a new approach to the longstanding challenge of improving productivity, which has the potential to reduce capital project costs by over 30%.
In addition to driving highly technical projects, spread across roadmap elements, Fiatech members are now embracing overarching initiatives that emphasize context and strong economic motivation. These initiatives are derived from twelve Performance Improvement Targets that have been developed by industry thought leaders and experts. Owner/Operator (OO) engagement is a key component in advancing and focusing these initiatives. To strengthen the likelihood of innovation adoption, Fiatech’s members have introduced Change Readiness. Change Readiness enables organizations to recognize and quantify behavior patterns that directly and significantly influence the likelihood of an improvement becoming an integral part of project practices in the future.
Performance Improvement Targets were first introduced as “stretch goals” during the 2015 Fiatech Leadership Form. These stretch goals provided a framework to stimulate debate and build consensus between subject matter experts. The core questions posed included: Are the stretch goals possible?; What is the value to the industry?; and What needs to be considered in order to achieve these goals? The workshops determined that the goals are achievable and as a consequence they are now called Performance Improvement Targets. From an economic impact point, it was determined that if these targets are fully realized, the cost avoidance potential exceeded 30%. In the process of reviewing these targets, over 600 strategies/comments, and over 190 Change Readiness observations were documented. Click here to view Key Change Readiness Attributes and here to see the justification video on realizing cost savings of $300k for every $1B.
January 2015 Update
Fiatech is pleased to announce the implementation of the first deliverable from the Three-Year Strategic Plan—the creation of the Horizon 360 Team. The team’s work includes scanning and tracking game-changing and incremental technologies and processes from across the global economy.
Comprised of 12 members—six from academia and six from industry—the Horizon 360 Team and its efforts could transform the capital facilities industry and become part of future Fiatech projects. Current members include representatives from Carnegie Mellon University, University of Alberta, The University of Texas at Austin, University of Illinois at Urbana-Champaign, Arizona State University, ExxonMobil, Zachry, Mott MacDonald, CCC, and Fiatech Roadmap Element 7. The team has vacancies for one more academic and one more industry member.
At the end of 2014 an organizational meeting was held where the Horizon 360 Team reviewed the Fiatech Future Scan Matrix adopted in September at the 2014 Members Meeting in Philadelphia, PA. During December, the team will establish co-chairs as well as its approach to maintaining the Future Scan Matrix and its roles, relationships, and responsibilities with other Fiatech standing committees, members, and staff.