In their presentation at Industrial Immersive Week 2023, Digital Twin Consulting co-founders Benjamin Butchko and Kelly Watt shared valuable insights on how to ensure the success of digital twins in oil and gas operations. Watch the full presentation, “Leveraging Strategic Master Planning and Comprehensive Tactical Project Roadmaps to Avoid Failure of Digital Twin Projects in the Oil & Gas Industry,” or keep reading to learn how these two industry experts have highlighted the importance of strategic planning and comprehensive tactical project roadmaps, emphasizing the need to avoid failure in this critical sector.
Defining the Mission with Strategic Master Planning
Our approach stresses the significance of defining a clear mission before embarking on an oil and gas digital twin project—a defining component of Digital Twin Consulting’s trademark DTAP™ Process. Understanding stakeholder expectations from both a technical and business standpoint is critical to digital transformation success. Bridging the gap between stakeholders with diverse visions can be a significant challenge. The DTAP™ strategic planning process focuses on aligning expectations and quantifying the value the digital twin project will bring to the organization.
Digital Twins in Oil and Gas Require Use Case Planning and Strategic Execution for Success
With a well-defined mission and strategic vision in place, the Digital Twin Consulting team recommends engaging in meticulous use case planning and project design. This involves considering data integration, normalization, and the compatibility of different information sources. Additionally, it’s vital to assess data availability, security, and privacy aspects to ensure a successful implementation.
The iterative nature of digital twin projects is also a consideration: instead of aiming for an all-encompassing solution from the start, oil and gas operations should consider starting small, conducting tests, and then scaling up. This approach allows for continuous learning and adaptation while reducing the risk associated with massive, untested deployments.
Valuing Digital Oil and Gas Assets
With any digital twin or transformation initiative, it’s critical for the oil and gas industry to understand that digital assets, including data and models, are a form of currency for organizations. Understanding the value of these assets, both in terms of creation and reuse, is crucial to digital transformation success. This value assessment plays a significant role in justifying ongoing investments in digital twin projects— and capitalizing on the significant ROI potential from such initiatives.
Navigating the Path to Digital Twin Success
Our cofounders’ presentation at Industrial Immersive Week offers valuable insights into the journey toward success in digital twin projects for oil and gas, as well as digital twin initiatives across all major industries and applications. Digital Twin Consulting’s proven approach underscores the pivotal role of strategic planning and the importance of defining a clear mission, aligning stakeholder expectations, and quantifying value to successfully deploy digital twins.
By engaging Digital Twin Consulting’s strategies and principles, companies in the oil and gas sector can navigate the path to Digital Twin success, enhance their operations, and drive innovation in this dynamic industry. Contact Digital Twin Consulting today to launch your strategic master planning and take the first step toward digital twin implementation success.
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