How Advanced Project Management Enables Utility Compliance
All power plants – including those fired by gas, oil, and coal – produce carbon dioxide (CO2). Yet this new technology has ushered in a way to capture the emission before they reach the atmosphere.
By harnessing CO2 as a feedstock for fuel production at major refineries, advanced project management can turn a greenhouse gas into an asset. That means companies can comply with the U.S. Environmental Protection Agency’s Clean Power Plan, which requires a 32 percent reduction in CO2 by 2030 through energy efficiency measures.
Advanced project management of the many initiatives across the oil and gas supply chain is moving more projects forward faster than ever before, despite an increase of guidelines, policies, and regulations that create greater challenges to compliance.
The use of advanced project management is making a difference in how quickly companies can achieve their goals and keep projects on schedule. With the right tools and processes, companies can easily incorporate energy efficiency criteria, greenhouse gas emissions factors, and process flowsheets for CO2 capture into plant design. The result: emissions data that meet current EPA guidelines.
In addition, companies across the industry are using a full life cycle assessment of greenhouse gas emissions to create a complete picture of how their projects contribute to global warming. With this life cycle information in hand, organizations can make more educated choices about which fuels and technologies to develop going forward – improving their overall environmental impact.
Advanced project management is necessary for a successful future, and a growing number of organizations are using the highest-level talent available to achieve their compliance goals.
What Can a Project Manager Do?
There are several things that a project manager can do to help utility companies maintain compliance.
- Ensure that all projects are completed on time and within budget
- Identify potential areas of risk and develop mitigation plans
- Work with the team to identify and track greenhouse gas emissions throughout the life of the project
- Create and implement a communication plan that will keep all stakeholders informed of progress and changes
Project managers are also responsible for performing regular project status reporting. This way, both internal and external stakeholders can remain informed of project performance.
Using advanced project management tools to help with mitigation planning is another key objective. With these tools, companies can generate a list of risks associated with each project, helping decision-makers prioritize their efforts to achieve the greatest reduction in emissions.
In the end, every decision a company makes should be made with one goal in mind: improving environmental sustainability and mitigating climate change. Project managers can help companies get there by bringing balance to their compliance initiatives through better planning and communication.