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What are some innovative cost-saving strategies for sustainable projects?

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Sustainable projects are not only good for the environment, but also for the bottom line. However, many engineering managers face challenges in finding and implementing cost-saving strategies that do not compromise the quality, performance, or safety of their projects. In this article, you will learn about some innovative ways to reduce costs and enhance sustainability in your engineering projects.

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Rajesh Ranjan

Top Voice | Leading Energy Projects | Strategic Execution | Life-long Learner | Dormant Documentary Filmmaker | Student…

1 Lifecycle assessment

One of the key cost-saving strategies for sustainable projects is to conduct a lifecycle assessment (LCA) of your project's environmental impacts. An LCA is a systematic analysis of the resources, energy, emissions, and waste associated with each stage of your project, from design to disposal. By using an LCA, you can identify the most critical areas for improvement, optimize your material and energy choices, and avoid unnecessary costs and risks. An LCA can also help you communicate the environmental benefits of your project to your stakeholders and customers.

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Gabriel Zuleta Osorio

PhD Research and Development Management - Asset Manager - Drone Solutions Specialist
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En proyectos sostenibles, destaco la implementación de Evaluación del Ciclo de Vida (ACV). Este análisis sistemático optimiza recursos, energía, y reduce costos y riesgos. El Análisis del Ciclo de Vida nos permite planificarnos incluyendo los gastos reales del costo de degradación para determinar cuál es el mejor momento para desincorporar un equipo y renovarlo por uno nuevo y modernos manteniendo la confiabilidad y mejorando continuamente nuestros procesos y OEE de la empresa.

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Bisma Nasim

Avionics Systems Engineer | Engineering Manager | MEng, BE
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To truly achieve sustainability, lean approach needs to be integrated into LCA. This means expanding traditional value stream mapping to track resource consumption and waste, then applying Lean tools like 5S and Kaizen to minimize not just operational waste, but also environmental impact.

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2 Modular design

Another cost-saving strategy for sustainable projects is to adopt a modular design approach. Modular design is a method of creating complex systems from smaller and simpler components that can be easily assembled, disassembled, reused, or replaced. Modular design can reduce the material and labor costs of your project, as well as the waste and emissions generated during construction and operation. Modular design can also increase the flexibility and adaptability of your project, allowing you to respond to changing needs and demands without compromising the functionality or quality of your system.

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Gabriel Zuleta Osorio

PhD Research and Development Management - Asset Manager - Drone Solutions Specialist
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El dise?o modular de los sistemas productivos mejora notablemento la mantenibilidad de los equipos y sistemas, permitiendo remplazar un módulo sin afectar dramáticamente el sistema en su conjunto. Esto logra que los tiempos de parada sean menores así como los costos de reemplazo del equipamento lo que redunda en menos costos globales, mayor producción y lucro en la empresa.

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3 Circular economy

A third cost-saving strategy for sustainable projects is to embrace the concept of circular economy. Circular economy is a model of production and consumption that aims to minimize waste and maximize value by keeping materials and products in use for as long as possible. Circular economy can help you reduce the costs of raw materials, disposal, and maintenance, as well as create new revenue streams from recycling, remanufacturing, or refurbishing your products. Circular economy can also enhance the social and environmental benefits of your project, by reducing the pressure on natural resources, mitigating the impacts of climate change, and creating new jobs and opportunities.

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Gabriel Zuleta Osorio

PhD Research and Development Management - Asset Manager - Drone Solutions Specialist
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La economía circular debe aplicarse donde se pueda. Trabajé en una empresa donde usaban soda caustica para el proceso de lavado del producto. Al instalar un sistema de recuperación de la soda caústica lograron mejorar el costo ambiental del producto que se desechaba y el costo asociado al tratamiento de las aguas contaminadas con soda caústica así como la reducción en costos de suministro de este producto para ser ingresado nuevamente en el sistema. Esto generó ahorros en el tratamiento del agua, reducción de la cantidad de soda caústica comprada y reducción de la contaminación lo que es coherente con el compromiso social y ambiental de la empresa. Ejemplos como este hay muchos y que sin duda deben ser aplicados.

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4 Digital transformation

A fourth cost-saving strategy for sustainable projects is to leverage the power of digital transformation. Digital transformation is the process of using digital technologies and data to improve the efficiency, effectiveness, and innovation of your project. Digital transformation can help you reduce the costs of design, testing, monitoring, and control, as well as improve the quality, performance, and reliability of your project. Digital transformation can also enable you to collaborate more effectively with your team, partners, and customers, as well as to access new markets and opportunities.

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Gabriel Zuleta Osorio

PhD Research and Development Management - Asset Manager - Drone Solutions Specialist
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La transformación digital sin duda es un paso en la evolución de cualquier sistema productivo que quiere pasar de ser una "firma" a una "empresa". No es fácil de ver cuál es el mejor momento y muchas veces se tiene miedo al cambio y a la inversión inicial pero los frutos son muchos y el control transversal y transparente de los procesos que hacen vida en la empresa redundan en mejor planificación, previsión de gastos, elaboración de planes de manteniento, metas de producción, plazos de entrega, relación con clientes, relación con proveedores, manejo de documentos y un gran etcétera que sin duda permitirá que la empresa crezca de forma saludable y sostenida con indicadores necesarios para lograr la toma de decisiones acertadas y oportunas

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Bisma Nasim

Avionics Systems Engineer | Engineering Manager | MEng, BE
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Leveraging technologies such as IoT, AI, and big data analysis significantly amplifies waste reduction initiatives. The integration of predictive analytics and real-time data tracking enables the early identification of potential inefficiencies and irregularities in the production process, effectively minimizing waste generation. The utilization of advanced sensor technology and interconnected devices optimizes the utilization of resources, including raw materials and energy, resulting in reduced excess consumption and waste. Additionally, AI-driven systems excel in precisely categorizing various types of waste, facilitating proper recycling and disposal methods and promoting a manufacturing approach that is environmentally friendly.

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5 Stakeholder engagement

A fifth cost-saving strategy for sustainable projects is to engage your stakeholders in a meaningful and transparent way. Stakeholders are the people or groups who are affected by or have an interest in your project, such as employees, customers, suppliers, regulators, investors, or communities. By engaging your stakeholders, you can gain valuable insights, feedback, and support for your project, as well as avoid potential conflicts, delays, or disputes. Stakeholder engagement can also help you enhance the reputation and trust of your project, as well as create a positive social and environmental impact.

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Rajesh Ranjan

Top Voice | Leading Energy Projects | Strategic Execution | Life-long Learner | Dormant Documentary Filmmaker | Student of Sociology | A Reluctant Engineer |
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While stakeholders may have diverse individual objectives, their collective aim always centres on ensuring the long-term viability and profitability of the project. Key strategies encompass optimizing scope, refining supply chain and logistics to prevent setbacks like damages and delays, fostering vendor development for cost competitiveness, engaging customers for alternative solutions, advocating policies effectively to regulators, and ensuring enthusiastic employee participation in cost-saving initiatives. Sustained stakeholder engagement is essential to prevent dissatisfaction, fostering mutual efforts and understanding that naturally lead to collaborative success.

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6 Continuous improvement

A sixth and final cost-saving strategy for sustainable projects is to adopt a continuous improvement mindset. Continuous improvement is a practice of constantly evaluating and improving your project's processes, products, and performance, based on data, feedback, and learning. Continuous improvement can help you reduce the costs of errors, defects, or inefficiencies, as well as increase the value and satisfaction of your project. Continuous improvement can also help you foster a culture of innovation and excellence in your project, as well as to adapt and thrive in a changing and competitive environment.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are some innovative cost-saving strategies for sustainable projects?

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2

3

4

5

6

7

1 Lifecycle assessment

2 Modular design

3 Circular economy

4 Digital transformation

5 Stakeholder engagement

6 Continuous improvement

7 Here’s what else to consider

Engineering Management

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What are some innovative cost-saving strategies for sustainable projects?

1

2

3

4

5

6

7

1 Lifecycle assessment

2 Modular design

3 Circular economy

4 Digital transformation

5 Stakeholder engagement

6 Continuous improvement

7 Here’s what else to consider

Engineering Management

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