Denver launches Nostra, for simplified capital performance that reduces cost and delivery risk through greater transparency
November 9, 2020 - The global digital execution specialist for mining, oil and gas organisations, Denver, today announced the launch of Nostra, a project and portfolio management solution that simplifies the operational performance requirements for project and portfolio management practitioners and executives of capital intensive industries to ensure that more projects are delivered successfully.
The original prototype of Nostra was developed more than a decade ago for international energy company bp. After finding that other solutions available at the time did not satisfy their business requirements, bp asked Denver to help create a tool that accommodated the project management needs of its refining operations. Six of bp’s refineries globally, along with bp’s ANZ retail function, now use Nostra to manage large projects.
“bp first teamed up with Denver in 2009 at our refinery in Brisbane to create an end-to-end digital solution that provided transparency to cost and schedule performance across our entire portfolio of capital projects” said David Dalle Molle, Global Solutions Program Manager for Downstream Projects in bp. “Once we could consistently see and trust our project data in one central place, we were able to drive efficiencies in portfolio management and improvements in project performance. We then took Nostra to other facilities in Australia, Europe and the US.”
“Whether a project is worth $10,000 or $100 million, they need to be successfully delivered on time and within budget, and Nostra will help bring control to projects and centralise data from other software programs, whilst helping to manage the capital investment,” said Paul Northcote, Director of Strategic Consulting at Denver.
Nostra is unique because it was created by the people who need the tool the most, project professionals, and not by IT organisations who may not have worked in oil, gas or mining. It helps drive organisational success by providing a comprehensive solution that fosters greater collaboration of stakeholders across the business. Nostra has undergone significant technological development to become a solution that other asset-intensive organisations could benefit from.
“The feedback we’ve received from project managers is so positive. When they see what Nostra is capable of, it immediately resonates with them as the solution was intuitively designed by project managers who fully understand how projects are managed,” said Paul Northcote. “By having all the information pooled together so that it is presented in the same environment, it brings simplicity and efficiency, helping teams deliver on the financial, operational and project performance,” he continued.
With the ability to provide access to other systems, Nostra can centralise all project management information in one place. This overcomes the challenge of other programs or software legacy systems that may be used throughout different projects, countries or sites and this simplicity increases productivity through digitising approvals. It also improves financial performance through more transparent and trusted actuals and forecasts.
Project General Manager at bp, Eric Zimmerman, said: “Nostra is an excellent project management information database, which provides a systematic approach for portfolio management, allowing users at any level access to the data that they need to understand and take action in relation to projects. It interfaces directly with Maximo and SAP, negating the need to license users in these programs. Project portfolio analysis is made easier as all projects are reported consistently, and formal monthly reports can be generated in minutes rather than hours.”
“Implementing Nostra and automating the integration of data from other systems not only provided additional efficiencies in data collection, the quality of the data improved as manual processes previously used were eliminated,” Dalle Molle added. “With less time spent tracking and checking their data, project managers had more time to analyse and manage their projects leading to improved predictability and costs.”
“To ensure that Nostra adapts to the changing project and portfolio management needs of asset intensive organisations, ongoing product development will be driven using a governance model originally put together by bp and Denver, to ensure consistency across new requirements and changes from new Nostra customers. This will ensure that Nostra’s scope continues to evolve and adapt to the wider industry needs and market conditions,” Paul Northcote concluded.
Denver connects business and technology to solve the challenges and opportunities facing mining and oil and gas organisations globally. For 30 years, Denver has been helping clients better manage their environments to reduce risk, optimise operations, improve safety, manage maintenance requirements and facilitate growth. The Denver team has deep technical and business experience that ensures the unique challenges and opportunities of our clients are solved. Please see: www.denver.com.au for more information.
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