The paper presents a new methodology for measuring the value generated by technology innovation injection in projects; it combines at least three very hot topics: allowing for the holistic approach to sustainability (Economic, Environmental and Social), mapping the value brought by technological innovation, and measuring the contribution to decarbonisation generated by a Global Solution Provider, such as Saipem. A first of a kind methodology dubbed "TechInnoValue" was developed together with Politecnico di Milano, to map the elements of value-creation strictly depending on the technology innovation component in executed projects, and to assess their impact on the economic, environmental and social dimensions of sustainability. The brand-new methodology was then tested on a few recent Saipem's projects, characterized by different business models and/or execution stages. The paper describes the underlining criteria and assumptions, the main features of the assessment model and the complex work done to develop it, as a result of a joint effort of researchers and managers. Finally, the paper gets deeper into the application of the methodology on a couple of significant pilot cases and the outcomes delivered. The TechInnoValue methodology represents a step forward and a useful tool to support both stakeholder engagement in innovation topics and the effective allocation of resources to maximise the benefits of technology innovation, which is a pillar of a sustainable business strategy even in project-based businesses.
In the energy equipment and services sector, companies play a peculiar role within a new energy transition value chain and they are modifying their business model and the management paradigm, especially on the factors that are at the center of a renewed sustainability approach. Those once named "O&G contractors" are now recentering their mission as "global solutions providers" strongly committed to develop a sustainability approach to the market and to enable their clients to achieve de-carbonization targets and environmental and social footprint reduction, which are the new sustainable business goals. This approach is considered a pillar of a sustainable business strategy and is strongly based on companies' technology innovation and their ability and capacity to substantially transform the proposed innovation into economically viable applications.
