To successfully compete in the ever-changing global market, it's essential that you understand the factors driving your industry and your competition. However, it's also crucial that you understand the condition of your own current operations and what you need to do to achieve better performance.
Since 1980, Solomon has used its proprietary benchmarking methodology—Comparative Performance Analysis™ (CPA™)—to show clients where their operations stand against the full array of their competition. It is only through this comparison process that you can truly identify the areas where your facilities could improve. We have continually refined and honed this process to make it the standard for gauging performance around the world.
Our comprehensive services will fully evaluate every aspect of client performance. Solomon’s Performance Excellence Process™ (PEP™) methodology relies on your CPA study results to pinpoint areas for improvement through an effective mix of no- or low-cost projects. Solomon’s Start Reliability™ and Lost Revenue Opportunity™ services use proprietary metrics to analyze the performance of power generation facilities. Our Maintenance Index™ benchmarking services also examine petrochemical and refinery performance.
Our Start Equivalency Ratio™ and Hour Equivalency Ratio™ services benchmark power production facilities using proprietary metrics. We also provide EGC™ consulting services to help improve process performance of power production facilities by comparing them to Solomon's carefully curated database of industry leaders. Each project’s scope is tailored to meet your unique needs—whether you require a comprehensive program that examines all aspects of your business or a solution that targets a specific need.
What We Do
Solomon’s CPA methodology normalizes data across all plant sizes, types, and geographies, empowering clients to see where they truly stand against their competition and identifying specific areas where they can enhance performance.
Top operators worldwide consider Solomon’s CPA studies a prerequisite to staying competitive in today’s challenging environment.
Key study results are provided in a professional industry analysis, electronic data tables, and a company-specific presentation:
- Professional Industry Analysis: Highlights industry trends and insights, all of which are substantiated through a rigorous input data review process.
- Data Table Workbook: Includes calculation worksheets for each metric, a performance ranking, aggregated peer group results, detailed gap analyses, and historical trend results.
- Results Presentation: Participation includes one presentation given at a site of each participant’s choosing.
Using Your Study Results
Your study results help you find answers to the critical questions facing your business. Here are some of the ways you can use your study results to improve your performance:
- Competitive Position: Determine competitive positions using standard industry peer groups.
- Customized Peer Groups: Develop customized peer groups to assess specific performance shortfalls.
- Optimization Plans: Formulate expense/margin optimization plans to maximize financial performance.
- Performance Targets: Establish performance targets and measure progress using Solomon metrics.
- Future Impact: Assess future performance impact of planned capital improvements and modifications.
- Demonstration of Performance: Demonstrate performance/capability to joint-venture partners, financial institutions, and security analysts.