Feasibility studies present the greatest opportunity to add value and to minimise risk to any investor's equity.

In many organisations, Enthalpy has found studies can be treated in two ways.

First, studies can be used as an excuse to ignore procedures and standards, with an attitude of ‘let's focus on the best choices and not optimising to meet standards'.

Or, studies can gain the benefits of following basic but sophisticated processes to achieve the desired standards for investments.

To embody the procedures and standards needed to meet the return to equity criteria now demanded, Enthalpy has established a world's best practice capital investment system.

A simplified version of the Enthalpy process shows the policy is supported by manuals for peer review and mergers and acquisitions.

Then, set work plans and minimum standards guide the outworking of the policy.

Enthalpy has successfully adopted and adapted this procedure - and its associated standards - to the needs of major clients such as Billiton PLC, BHP Ltd, Codelco, Falconbridge Ltd and Stanwell Corporation Ltd.

On a number of occasions, Enthalpy's clients have acquired procedures and systems and rebadged these for their own internal use.

When this has occurred, Enthalpy has provided extensive training for the clients.

Enthalpy's procedures and standards cover issues including:

• Distribution and revisions
• Project execution plans
• Organisation
• Safety
• Personnel
• Communications
• Quality assurance
• Scheduling
• Cost control
• Reporting
• Engineering
• Procurement and contracts
• Construction
• Commissioning
• Operations
• Financial administration
• Insurances
• Environmental
• Risk management
• Closure

Extensive in both their reach and their detail, Enthalpy's project procedures have been designed in proforma modules that can be used by any owner or client in the way they choose - including adopting, merging or selectively using parts or all of the procedures.