Overview
In industries with low margins and fierce competition, ensuring efficient operations is often the difference between profitability and lossmaking. For technically complex and challenging operations, ensuring safety and efficiency is paramount and central to the ethos of Lloyd’s Register. Our team has a strong track record of optimising performance across work scopes in the maritime and energy sectors.
What we offer
Our experienced team has undertaken projects ranging from pre-FID to ongoing operations to ensure performance optimisation. Our team’s work has encompassed value engineering, operational readiness reviews and organisational health checks. On a functional level, the team has also undertaken systems reviews, automation studies, outsourcing analysis, procurement reviews, operational benchmarking, and critical spares investigations.
What are the benefits
Optimising performance delivers cost efficiency, drives timely operations, and ensures safety and compliance. As the business environment grows more complex with new sources of competition, assessing and optimising operational performance will be key to ensuring competitiveness. Organisations increasingly need to evaluate alternative ways of doing business, encompassing automation, digitisation, and outsourcing, whilst benchmarking their performance against peers, and their systems against best practice.
Why choose LR
We have a unique perspective on performance operations, bridging the gap between technical and commercial operations. Our work around performance optimisation is based on deep domain knowledge, contextualised by an understanding of the evolving regulatory and commercial challenges that your business will face. Our global presence means that we can be hands-on in our approach, whilst ensuring that we are able to deliver solutions tailored to your business.
Case study: Operational Readiness and Capability Review
Challenge
The client, a global scale LNG shipping and maritime company, approached Lloyd’s Register to assess its ability to accommodate a range of fleet expansion scenarios, potentially taking the organisation from a current state of 18 vessels under management to an extreme position of approaching vessels by 2030.
This expansion would see the fleet composition change from both a technical (vessel technology) and commercial (chartering model) perspective, and see new markets being entered (FSRU). The organisation would also transition from its previous model of assuming control of existing vessels to onboarding new build vessels directly from shipyards.
The client required an operational readiness and capability review that could be reported to the organisation’s board, the national oil and gas company, and the associated ministry, that describes the scaling potential of the organisation to support a projected increase in export volumes.
The solution
Our work focused initially on an assessment of the organisation against an operational readiness framework, looking at the overall delivery approach before concentrating on its operating model.
Detailed assessments were undertaken to analyse the shape of the organisation, its processes and systems, its human resource capacity and capability, and the culture of the organisation.
The result
Building upon the operational readiness assessment we undertook a comprehensive analysis of barriers to scaling in multiple growth scenarios and prepared a targeted action plan for addressing identified gaps in each of these.
"Lloyd’s Register worked tirelessly to ensure that all exercise objectives were met in a structured and pragmatic form through successful coordination with all stakeholders. The project itself was challenging and required out-of-the-box thinking, true soft skills, and a deep understanding of the sensitivities involved. The team’s drive, work ethic, and problem-solving skills continuously exceeded our expectations and helped to ensure that deliverables were completed to a high standard and were well received by all parties. Overall, I cannot stress enough that the LR team went above and beyond their scope to ensure that we, as clients, were always pleased with the delivery of the project."