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Benchmarking plays a fundamentally important role in capital projects in the life sciences sector. In Linesight’s webinar yesterday, Jeff Peragallo (Head of Life Sciences – US) and Nigel Barnes (Head of Life Sciences – EMEA) were joined by Steve White, Leader of Global Estimating and Control at Merck, to discuss how benchmarking provides insights into peer and market alignment, can identify gaps and opportunities for improvement in project scope, cost, schedule and quality, and provide a clear baseline from which to improve project performance.
The session kicked off with Nigel giving some background and context to benchmarking and data visualization, and how that translates to cost intelligence that can inform effective and timely decision-making. Steve then brought the client-side perspective, talking about how Merck utilizes benchmarking and gave an example of a comparison for a new build, before Jeff talked through Linesight’s current initiative, whereby we are inviting organizations to submit their data (which will be stored and maintained with the utmost confidentiality, and fully anonymized) to be used in a comprehensive benchmarking assignment. Participants will receive a consolidated market report from this exercise, which will include extensive metrics beyond high-level costs, as well as invited to a roundtable workshop, confined exclusively to participants..