A commitment to continuous improvement lies at the heart of Dolphin Energy's business and the company places much responsibility on its employees to maintain this commitment at all times.
The launch of the company's cost optimization program, The CORE Project (TCP), in February 2016 was undertaken in response to the challenging conditions in the oil and gas industry and provided new opportunities to improve the company's financial performance. This paper will explain how TCP supports the company's commitment to continuous improvement by creating a ‘bottom up’ approach to drive collaboration through education, the development and use of cost saving processes and procedures and by rewarding employees and celebrating their success. The result of which has led to significant cost savings for the company.
The objective of TCP was to deliver cost savings to the company and enhance a culture of cost consciousness. To achieve this the onus of responsibility has been placed on the company's employees, tasking them to collaborate to deliver sustainable results and drive efficiency improvements through a long-term commitment.
This ‘bottom up’ collaborative approach to improve financial performance has been supported through the development of the following aspects, which helped create the right conditions for success:
Education/Governance Structure – creating an efficient and effective framework, holding workshops and briefings on how to brainstorm ideas, capture them and present them for consideration
Processes/Procedures – learning how to transform ideas into initiatives, run by employees as Initiative Owners, by setting milestones, timelines, and estimated savings. Learning how to use specific tools for submitting ideas for consideration
Celebrating Success – highlighting the best employee ideas and initiatives through a formal recognition and reward program
In the past 18 months, employees have generated more than 1,300 ideas, of which more than 260 ideas have been converted into cost saving initiatives without jeopardizing the safety of staff or the integrity of the facilities. This collaborative approach has not only demonstrated the value placed on a commitment to continuous improvement but created renewed commitment from employees to continue supporting the program in 2017, as evidenced by the results of a perception survey conducted earlier in the year.
This paper will help highlight tangible benefits that can be produced by creating conditions that encourage employees to drive a culture of continuous improvement.