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Strategic Management and Ecosystem Business |
ABS-76 |
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Analysis of Team Effectiveness Factors on EPC Power Plant Project in Indonesia
Muhamad Abdi (a), Arviansyah (b)
Master of Management, Faculty of Economics and Business, University of Indonesia
E-mail: muhamad.abdi01[at]ui.ac.id- arviansyah[at]ui.ac.id
Abstract
EPC (Engineering-Procurement-Construction) power plant projects have a high complexity to achieve project success (i.e., cost, quality, and time). This study aims to identify factors of team effectiveness that directly or indirectly significantly affect the success of the EPC power plant project. Factors of team effectiveness are identified using SLR (systematic literature review) based on project management journals. We then utilize the Delphi method to analyze the relevance and impact of the factors on project success. We reveal twenty-eight factors and their impacts. Subsequently, we assess an EPC power plant project based on the factor^s implementation, importance, and frequency of problems by conducting a focus group discussion. Fishbone diagrams are employed to investigate root causes and seek improvements or solutions. Four factors are deemed to need further improvement: respect, effective procurement/contract methods, communication, and decision-making. This study is unique and novel as it focuses on the EPC power plant project in Indonesia. It provides project managers and members with knowledge to create effective teams to succeed. Finally, the study provides reference indicators for forming an effective project team.
Keywords: Engineering-Procurement-Construction- Power Plant- Team Effectiveness- Project Success
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| 92 |
Strategic Management and Ecosystem Business |
ABS-90 |
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Engineering, Procurement and Construction (EPC) Delay Analysis for Construction of Pressurized LPG Terminals
Affan Himawan, Arviansyah
Faculty Economics and Business, Universitas Indonesia
email: affan.himawan[at]ui.ac.id - arviansyah[at]ui.ac.id
Abstract
The increasing demand for LPG for domestic use every year impacts changes in distribution operation patterns. It requires increasing the storage capacity of several existing LPG terminals or new developments to maintain and increase the coverage days of LPG terminal operations. The delay in completing EPC (engineering, procurement, and construction) work on constructing the pressurized LPG terminal will impact the planned LPG terminal infrastructure roadmap and delays in obtaining benefits from the investment. This study aims to analyze the dominant factors causing delays in completing work. Ninety five factors causing construction delays are identified in a systematic literature review from twelve publications in the last three years (2018-2020). These factors are divided into eight categories: clients, contractors, consultants, materials, workers and equipment, contracts, contractual relationships, and externals. We utilize a Delphi method involving ten experts to analyze the factors resulting from the systematic literature review. Twenty seven dominant factors causing delays with a consensus level of more than seventy percent are revealed in our context. The level of consensus for the final results is also sufficient. Interviews were conducted to investigate alternative solutions to the dominant factors causing delays.
Keywords: LPG, EPC, Project Delay, Delphi
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| 93 |
Strategic Management and Ecosystem Business |
ABS-96 |
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Strategic Management Analysis of Gas Supply During Turn Around: Lending and Borrowing Agreement at PT X
Maria Diansari (a*), Athor Subroto (a)
a*) Magister of Management, Faculty of Economic and Business, Universitas Indonesia
Jl. Salemba Raya No.4, RW.5, Kenari, Kec. Senen, Kota Jakarta Pusat, Daerah Khusus Ibukota Jakarta 10430
maria.diansari[at]ui.ac.id
Abstract
PT A, one of gas buyers of PT X, asked for gas supply during PT X turn around period which all production facilities of PT X had to be shut down. This study will analyze the strategic management undertaken by PT X in order to meet the demand for gas supply. It uses a qualitative approach by conducting interview with related experts, observing documents, and calculating costs and benefits. The results of the analysis show that from three options, namely building a new production facility, borrowing resources, and buying a company or acquisition, PT X chose to borrow resources. Based on the cost and benefit analysis of three scenarios, namely scenario 1 do nothing, scenario 2 do nothing but PT A was allowed to absorb gas above its daily contract quantity after turn around finished, and scenario 3 gas lending and borrow, the highest revenue would be earned from scenario 2 but there is a main consideration, PT A really needed gas supply because PT A was not allowed to shut down its production facilities. Based on analysis of the build-borrow-or-buy framework, PT X should choose borrow. The borrow framework is a gas lending and borrowing scenario between PT X and PT Y to fulfill the demand which was legitimated in Lending and Borrowing Agreement (LBA). PT X and PT Y are located in Central Sulawesi and sell the same products, gas and condensate. They also have agreed to implement a sharing facility. That made LBA very possible to conduct. PT Y supplied gas to PT A on behalf of PT X, so PT X still earned revenue. On the other hand, PT Y also earned revenue from condensate production. After successfully implement the LBA during the turn around, PT X and PT Y agreed to create a long-term LBA in order to accomodate unplanned maintenances. LBA between PT X and PT Y is a management strategy that implemented for the first time at the oil and gas industry in Indonesia.
Keywords: Strategic Management, Operation, Lending and Borrowing, Oil and Gas Industry
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| 94 |
Strategic Management and Ecosystem Business |
ABS-98 |
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Measurement of Operational Value at Risk Earthquake Risk Using Loss Distribution Approach-Aggregation Model Method
Valentin Panggabean
Risk Management, Faculty of Economics and Business , University Of Indonesia
Gedung Prof. Wahjudi Prakarsa
Jl. Salemba Raya No.4, RW.5, Kenari, Kec. Senen, Kota Jakarta Pusat, Daerah Khusus Ibukota Jakarta 10430
valentin.panggabean[at]ui.ac.id
Abstract
Earthquakes may cause a very large impact, both in terms of the amount of loss and the area. The financial impact of a major earthquake can have a long-lasting impact. Therefore, companies need to understand the basic characteristics that exist in earthquake events. This research measures the Operational Value at Risk (VaR) for claim catastrophe Insurance using data from statistical cession (MAIPARK) for the year 2014-2021. Calculation of operational risk with loss distribution approach aggregation model (Monte Carlo Simulation) aims to estimate capital reserve estimates based on the frequency distribution and severity distribution of historical data. The results showed that the frequency distribution of earthquake insurance claim losses followed a geometric distribution pattern, while the severity distribution showed an exponential distribution pattern. With 95% confidence level, the operational risk VaR value is IDR 2,792,721,528,565.80 and the validity test or back testing uses the Kupiec test with one error and the model is acceptable.
Keywords: value-at-risk- operational risk- convolution- insurance business risk- frequency and severity distribution- Loss distribution approach-aggregation model.
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| Corresponding Author (Valentin Panggabean)
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| 95 |
Strategic Management and Ecosystem Business |
ABS-102 |
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Airport Business Strategy In Facing Crisis - Case Study : Yogyakarta International Airport
Ristiyanto Eko Wibowo
Magister Management Universitas Indonesia
Abstract
Purpose - The objectives of this study are 1) to support strategic planning for YIA to recover and survive the impact of COVID-19, 2) developing non-airport traffic and business in line with the policies of stakeholders.
Design/methodology/approach - A strategic initiative with studies that can be measured on the basis of a survival-based theory approach, with a qualitative data collection methodology through In-depth Interview (IDI) with 7 informants who are experts in their fields and have roles as regulators, shareholders, government and stakeholders. The data obtained from the previous case studies are used to become a study to support the implementation of strategic initiatives.
Findings - The strategy details include financial, commercial, operations, HR and technology aspects that have a significant impact on the objectives of the case study research.
Practical implications - Strategic analysis that can be applied to Yogyakarta International Airport (YIA) with a projected impact of increasing on financial and operational performance.
Originality/value - The analysis is carried out empirically based on the insights of the informants which were analyzed using nvivo with coding according to the results of data collection that are relevant to the purpose of case study research.
Keywords: COVID-19, management strategy, aviation, airport, Yogyakarta International Airport, PT Angkasa Pura 1, crisis
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