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Benchmarking and best practices: Experience creates more value
Benchmarking is a method that assists companies in identifying opportunities for improving performance.
By making comparisons and learning from others’ experiences, companies can adopt best practices to identify short and longer-term opportunities for improvement.
Information drawn from the experiences of participants in Shell’s benchmarking programme allows performance to be tracked against carefully selected industry benchmarks, thus providing a vital tool for making comparisons with current performance.
Presently, Shell Global Solutions’ benchmarking group has provided a comparison of operational performance for 80 refineries, 10 liquefied natural gas (LNG) plants, 40 LNG ships, 12 gas plants and 120 upstream production facilities. These, including joint venture and non-Shell participants, have gained a valuable external perspective of their businesses.
Using these benchmarks, companies can identify opportunities to improve their performance—and embark on creating more value in their business.
“Why reinvent the wheel?” asks Diederick Bax, Business Development Director at Shell Global Solutions. “When, instead, you can learn from other people’s experiences and successes and from how they have found out what to do, and maybe what not to do as well.”
Any participation in this pool of experience is done on a confidential basis and is fully compliant with competition and anti-trust law regulations. Sites are invited to submit data monthly, quarterly or annually, which enables key performance indicators to be calculated and then used to compare one operation with another.