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Full Potential and Latent Capability

Understanding the full potential of your system will lead to opportunities in latent capability. Opportunities that are generally low cost and low risk, as they take advantage of assets you have already installed and have a history with operating.

However, understanding how to release this capability and being confident in what a system is capable of requires a range of different skills. For example how can you turn the noise of the following data into information that can be used change your business?

full potential time series

One technique that can be used with limited data is a Weibull plot of operating data……

full potential weibull

I will be sharing insights on a range of techniques (including Weibull) for understanding full potential during this FREE IChemE sponsored Webinar .

Attendees will get to appreciate why understanding the Full Potential of a process as a whole is so important and techniques for analysing operations and integrated value chains. This is a critical capability for businesses wanting to understand the value of untapped potential and how it links to targeted improvement activity. 

Webinar – Understanding Full Potential

 

 

 

 

Understanding Full Potential (IChemE Webinar)

“Latent Capacity” aka untapped potential is ubiquitous across the mining and mineral processing industry. We know it’s there, but we can’t always see it. When we see, we don’t always know where to start. And when we start, we find that change is a difficult road. This untapped potential is not due to a lack of effort. Operations and providers to the industry alike are focused on improvement and “closing the gap”. For many, Big data and advanced analytics provide hope for tantalising returns from existing assets. While everyone agrees the stakes are high, the pathway to realising the full potential is fraught with traps for the unwary hence experience is everything.

I will be sharing some insights during this FREE IChemE sponsored Webinar aimed at engineers dealing with the challenges of process optimisation.

Attendees will get to appreciate why understanding the Full Potential of a process as a whole is so important and techniques for analysing operations and integrated value chains. This is a critical capability for businesses wanting to understand the value of untapped potential and how it links to targeted improvement activity. 

Webinar – Understanding Full Potential

Valuing Innovation

innovation-masterclass-banner

Gaining traction with innovation requires a clear and compelling case for change. A case that overcomes the opportunity cost hurdle for access to time, money, resources and leadership support. A failure to do this well means that many great ideas are left undiscovered and holders of the ideas frustrated that nobody else “gets it”.

In fact, in this dynamic and uncertain environment a good case for change it not sufficient – a great case must be presented.

A great case for innovation requires a narrative that engages the full breadth of stakeholders in a picture of what the future could be. The narrative helps win support for looking at the idea in more detail while presenting the light on the hill for your supporters.

A great case for innovation will obviously contain a robust financial analysis of the expected benefit. However, this analysis needs to be comprehensive and include likely associated costs plus potential downsides in addition to the good news story. A partial analysis will lack credibility and fail to uncover the true impact to the business.

A great case also needs to consider the range of non-financial or non-measurable benefits and costs. Often an innovative idea will look good based on the financial analysis, but it will be the linkages to a broader business strategy or simply the emotion of being seen as a leader in the industry that will make for a great case.

A great case must also consider the various risks that come from the idea itself, the implementation and the potential scenarios from changes in the environment.

There are many techniques available to innovators to deal with the various elements of a great case. The right techniques depend on the type of innovation you are considering, its impact to your business and the stage of innovation between ideation and final implementation.

This is just one topic that Geoff Carter of On Track RDI and I will explore in the Practical Innovation masterclass. The masterclass will be held in Perth and is booked for Thursday 27th October from 12 to 4pm, with networking afterwards.

Places are limited, but still available. For more information please follow this link and register here.

Practical Innovation

innovation-masterclass

Australians are renowned for their smart ideas, but we often fail to back them and turn them into commercial realities.”  – National Innovation and Science Agenda Report, December 2015.

Geoff Carter of On Track RDI and I have teamed up to create a masterclass which explores a practical approach to innovation. An approach which encourages smart ideas, pragmatically priortises effort on the right ideas, and leads to a minimum viable product for prototyping. We then explore how to engage the end users in turning prototypes to a bottom line change.

innovation-masterclass-banner

This is a great opportunity for people getting into innovation programs through to people already leading innovation programs who want to improve their impact.

Some of the topics we will cover include:

  • Leadership for creativity
  • Team culture for innovation
  • Idea generation and control
  • Delivery with uncertainty
  • Rapid testing and change management
  • Comprehensive value propositions

The masterclass will be held in Perth and is booked for Thursday 27th October from 12 to 4pm, with networking afterwards. For more information please follow this link.

Register Here

I am really excited about this opportunity to present with Geoff. So join Geoff and me for an engaging and insightful workshop with a group of like minded people. Places are limited so we can have interaction and participation throughout the afternoon.

 

Innovation Master Class

Had a great opportunity to present at the Innovation Master Class. I spoke about:

  1. How to pilot Innovation and prepare for the transition to operations.
  2. Importance of developing comprehensive value propositions.

There was valuable discussion with people from many different backgrounds contributing their ideas and experience.

Great master class Geoff Carter.