May 11, 2021
What a time to be alive! Those of us who have been in the industry for a while can all honestly say that our science has never produced so many amazing therapies and innovations in such a watershed moment. COVID vaccines brought to market in less than a year, novel gene therapies for rare and chronic disease, the list seems endless right now.
Those of us designing and building the latest biotech projects often get hung up talking about dry-in dates, lead-times, and equipment deliveries. What we should be talking about is “confidence”, “certainty”, and “performance”. And ultimately “time to market”.
So, let me ask you this, how confident are you? Are you going to hit your committed date? How certain are you of your budget? Are you sure it is going to work?
A recent study by Turner & Townsend found that 70% of biotech projects commonly exceed planned budgets by 15% and overrun schedules for construction and commissioning by four months.
So, we can bring a COVID vaccine from idea to injection in ten months, but we cannot build a state-of-the-art biotech project on time, to budget, and have it perform. Sadly, this is a far too common problem we are seeing (i.e., 70% of the time).
So how do we, AdvanceTEC, achieve “time to market”? How do we achieve “total performance”? It used to be called tribal knowledge, then know-how, later revamped to segment expertise.
Now it is “IP” (intellectual property).
We use digital tools, scanning to BIM technologies, embedded algorithms, and analytics. It is not just about speed, it is about confidence, certainty, and delivering total performance.
As managing partner, Phelan is responsible for ensuring client satisfaction, shaping the company’s strategic direction, and managing all compliance aspects of the organization.