Trinity Press Release
for immediate release
Trinity Technologies Selects ICARUS Kbase Technology as an IT Enabler for its Information Enabling Project Planning Service
Pairing Proven Technologies with Established Work Processes Results in Lower Costs, Faster Cycle Times, and More Predictable Project Outcomes
Wellesley, MA — May 1, 2000 — Trinity Technologies Corporation, announced today it will integrate its Information Enabled Project Planning (IEPP) service with ICARUS Knowledge-Base (Kbase™) Engineering Technology. IEPP is the business process that draws together a company's financial resources, facilities experts, technical specialists, and other organizations to assess, fund, and execute a capital project.
By combining proven Kbase technology and Trinity’s knowledge of best practices in project work processes, companies will reduce risk by developing the detailed definition of a project's scope early in the project lifecycle. IEPP and Kbase also allow low cost design options to be generated to optimize capital cost and ROI.
Because companies typically have many more opportunities than they have capital or personnel, it is critical to choose only those projects that have a high return to the company. Together, Trinity and ICARUS will help companies make business-critical decisions and improve ROI by reinforcing work processes with proven information technology. Trinity and ICARUS can help companies minimize expensive changes in conceptual design, engineering, construction and startup.
Industry benchmarking has shown that companies that undergo IEPP before beginning a project have the opportunity to reduce the cost per project by 10 to 20 percent. Likewise, cycle time from the beginning of development through startup can be reduced by 20 percent, and operational performance can be improved by 5 percent.
“The 30 years of knowledge embedded inside of ICARUS Kbase will allow Information Enabled Project Planning to be accomplished more quickly, effectively, and with less expense resulting in a standardized, repeatable methodology for decision making,” said Joe Morray, president of Trinity Technologies. “ICARUS Kbase is an ideal complement to Trinity's IEPP work process consulting service for analyzing opportunities, evaluating options and project planning.”
“The CPI (chemical processing industry) and associated industries, such as power, life sciences, oil and gas and pulp and paper, are focusing on the importance and value of IEPP and work process redesign,” said Rick Geritz, executive vice president of ICARUS Corporation. “The Trinity ICARUS relationship will enable users of engineering technology to reap more value from their existing investment by implementing work processes that take full advantage of the Kbase technology.”
Planning for More Effective Project Execution
IEPP work processes are comprised of three discrete phases. The first phase is typically opportunity analysis or business planning, where the business examines the value of the opportunities it can pursue. The second phase is an option sorting or alternative analysis phase, where business planning works with its engineering and operations groups to decide which option provides the greatest returns. The third phase includes project planning and front-end engineering, where the option selected in the previous phase is detailed to allow for an on-budget and on-schedule execution.
During the opportunity analysis or business-planning phase, information about markets, prices, technologies and infrastructure are critical to the decision-makers’ analysis of the opportunities. During the alternative analysis phase, conceptual estimates, risks, conceptual engineering and other data is generated, along with information about the costs of different technologies, equipment, infrastructure and schedule. Because its software includes design, costs, man-hours, schedules, operating and investment cost data about new and existing plants, ICARUS Kbase provides an automated, consistent approach to IEPP.
About ICARUS
ICARUS Corporation (www.icarus-us.com) is a leading provider of Knowledge-Base (Kbase™) Engineering Technology, which uses built in design codes, heuristics and engineering methodology to automate engineering workflow. ICARUS software and services are used worldwide by owner-operators, Technology Licensors and Engineering and Construction firms. The ICARUS mission is to provide clients with a shared knowledge-based technology that integrates business objectives with automated engineering analysis, helping to achieve a stronger competitive position.
Contact Icarus
ICARUS Corporation
600 Jefferson Plaza
Rockville, MD 20852
Phone: 301-424-4646
Fax: 301-424-4647
E-mail: marketing@icarusmd.com
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