TriplePoint.Threads by TriplePoint.Engineering

In the world of chemical enginee ring and industrial operations, few decisions stir as much debate as this one: Should we buy new process equipment, or source pre-owned? It’s not simply a budget question. It’s a strategic choice that touches on risk, reliability, lead time, stakeholder perception, and long-term legacy. And while the spreadsheets may suggest a clear winner, the reality is often more nuanced. Sometimes new equipment is the right call. Sometimes pre-owned saves the day. But the best decisions are never made in isolation. They’re made with context, clarity, and a healthy dose of engineering judgment. 1. Risk Tolerance and Traceability: What Are You Really Buying Pre-owned equipment can be a smart move. But only if you know what you’re getting. Too often, teams focus on the purchase price and overlook the hidden risks. Was the equipment maintained to spec? Are the manuals, certifications, and service records intact? Has it been exposed to corrosive media, ther...

The world of Capital Expenditure (CapEx) projects, whether building a new petrochemical plant, expanding a mine, or constructing a massive data center, relies on a rigid, phased approach to manage risk and investment. These projects are high, stakes endeavors, often costing billions and spanning years. Their success hinges entirely on one foundational principle: Front, End Loading (FEL). However, the terminology used to define these crucial early phases; FEL 1, FEL 2, FEL 3, pre, FEED, FEED, Basic Engineering, and Detailed Engineering; is notoriously inconsistent. This lack of standardization is more than a semantic annoyance; it is a major source of project failure, leading to scope creep, budget overruns, and severe schedule delays. This detailed guide will decode these phases, explain the dangerous ambiguities, and introduce the most critical rule for all project managers and owners: The Engineering Work Done Test.   Decoding the CapEx Project Phases and AACE Classificat...

  Summary In project management, especially in high-stakes CAPEX environments, risk is inevitable. But unmanaged risk is unacceptable. This post explores why hope is not a strategy , and how structured risk management frameworks like PMI and PRINCE2 help teams proactively identify, document, and mitigate risks. It covers: Key principles from PMI and PRINCE2 Common and overlooked risks in CAPEX projects How to handle “Acts of God” A practical Excel-based risk register tool Why risk management is a mindset, not just a method Whether you're leading a capital project or refining your enterprise risk strategy, this post offers actionable insights and tools to strengthen your approach.   Risk? Identify it. Register it. Document it. Mitigate it. Let’s be real: hope is not a strategy. Wishing things will go smoothly doesn’t stop risks from becoming real problems. If you don’t spot the risks early, they’ll spot you later—usually at the wo...