STEVE WILLIAMS (Marathon Petroleum Corporation) 

• As equipment ages and reaches end of useful life, the opportunity arises with necessary replacement to include enhancements or upgrades at little additional cost. 
• Since the only cost associated with an upgrade, in these cases, would be any incremental cost of the upgraded components, the associated capital cost is significantly reduced and makes for a prime opportunity to obtain performance enhancement. 

• However, the key to successfully identifying and capitalizing on these opportunities is an integrated, multi-functional team-based approach to work scope identification and planning to ensure that upcoming opportunities are realized far enough in advance to allow for the engineering and procurement associated with the upgrade scope. 
• Failures to capitalize on equipment replacement activities as opportunities to affect performance enhancements, resulting in simple replacement in kind, are typically the result of late realization of the planned work. 
• Typical project economics and justification, such as increased throughput or product recovery, are suitable, and can typically be applied to the incremental capital costs of the upgraded components only. 
• Presentation will include specific examples where this approach has been successful.