SOURCE: Hard Dollar Corporation

Hard Dollar Corporation

June 22, 2010 13:26 ET

Hard Dollar Awarded BP Contract to Standardize Turnaround Estimating and Project Cost Management

Cost Management Standardization of U.S. Refineries

SCOTTSDALE, AZ--(Marketwire - June 22, 2010) -  Hard Dollar Corporation, the global solution leader in Project Cost Management, today announced that British Petroleum, "BP," the world's largest oil company, selected Hard Dollar's "HD" software and services to standardize all turnaround activities within their North American refineries. 

After an exhaustive review of the market, BP selected HD software based on flexibility, scalability, and comprehensive approach to estimating. The solution will be used to estimate costs, track productivity, measure progress, create cost and resource loaded schedules with Oracle Primavera P6 and create a consolidated historical database for future planning. HD software along with P6 will centralize and be the cornerstone of all turnaround activities and maintenance for all of BP's US Refineries. BP anticipates rolling the software out globally to all refineries under a global agreement with HD.

BP selected HD Project Cost Management as part of an overall plan to standardize cost engineering processes, manage contractor costs, and report on all turnaround operations. STO projects represent planned capital improvements that are implemented on a regular basis within a refinery to revamp, maintain and improve process output. 

Target benefits that BP expects from the HD system include:

  • Up to a 300% reduction in the time required to estimate a turnaround project
  • Shared standardized Cost Breakdown Structure for improved accuracy, greater and consistent granularity with accurate and advanced reporting across all business units
  • Cost and resource load schedules to balance resources within specific time parameters
  • Historical cost and productivity database across all business units resulting in highly accurate estimates
  • Real-time integration of loaded costs and resources to drive a production driven schedule inside of Oracle Primavera P6 for detailed "what if" analysis of cost/time changes or delays
  • Ability to monitor and track real-time progress measurements to ensure cost and performance are within budget and allocated time

Hard Dollar is a recognized leader in Project Cost Management for use within the upstream and downstream operations of large Oil and Gas producers, service and pipeline transportation.

About Hard Dollar Corporation
Founded in 1989, Hard Dollar Corporation is the world's leading provider of Project Cost Management systems for Owners and Contractors. Hard Dollar's cost driven performance management solution centralizes project cost and productivity, resulting in side-by-side visibility of planned and actual costs for enterprise-scale capital projects. Hard Dollar customers have constructed over $1 trillion in capital projects. HD solutions are sold and implemented by partners around the globe. For more information on the company or its products, visit www.harddollar.com

Contact Information

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    Ron Babich
    Hard Dollar
    480-776-2934
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