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President Systems and Solutions
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8000 W. Florissant Ave
St. Louis, Missouri,63136
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial and consumer markets around the world. The company is comprised ... more.
President, Performance Solutions Division
Main Automation Contractor
Integrated Systems Analysts , Inc.
Bachelor of Science degree
Kansas State University
Construction Industry Institute
James A. Nyquist, Emerson Process Management
Jim Nyquist, president of Emerson Systems and Solutions business, added, "Projects are in crisis.
Nyquist declared that design, engineering, and project management need a reset. Budgets need a resent and predictability and reliability must be improved. Top quartile projects are completed at half the cost and half the schedule of 4th quartile companies. "Industry is at inflection point," he predicted. "Project Certainty also tackles complexity by decoupling the dependencies suppliers have on each other, eliminating bottlenecks and allowing concurrent work streams," said Nyquist. "Likewise, we are addressing the complexity of data and documentation with innovative technologies that provide features like a single source of project data as well as automated documentation." Addressing one of the greatest project vulnerabilities, Project Certainty significantly improves project schedule performance. Technologies like Electronic Marshalling with CHARMs, and pervasive wireless field instrumentation are helping project teams accommodate inevitable last-minute design changes without impacting schedule. "The path to Top Quartile project performance is right in front of us," said Nyquist. "For a project of this scale, managing budget and schedule risk is paramount," said Jim Nyquist, group vice president of Emerson.
The big challenge facing technology is the global economy, said Jim Nyquist, the president of Emerson Process Management, a company developing proprietary software products and services helping
Jim Nyquist of Emerson Process Management Jim Nyquist of Emerson Process Management businesses automate production. The low price of oil has "squashed" capital spending, the strengthening dollars has put us at a disadvantage with European competitors, and the economic slowdown in China has hurt. "It's tough to have a global economy and it's made extra challenges as we try to invest," Nyquist said. Technology is driving the lower price of oil, with the convergence of 3D seismic analysis, horizontal drilling and fracking, creating a global oversupply of oil and gas. The good news is that's sending investment into downstream businesses along the Gulf Coast, Nyquist said. Power plants are converting to gas from coal, liquefaction plants will liquefy gas for export, and we're seeing a huge boom in downstream ethane crackers and ethylene crackers and developing petrochemicals out of cheap gas. A similar inflection point affecting technology is the Internet of Things - the connection of smart devices. Nyquist said the next big wave of the Internet will be to connect things to things, things to machines, and machines to people. "Any product manufacturer today that makes a dumb product is going to have to figure out how to play in this new world, or they won't be around very long," Nyquist said. But he sees two speed bumps on the horizon. The first is hacking. "We can't have people hacking into critical infrastructure - it would create havoc," he said. "That's an issue we must solve." The second is a shortage of skilled software developers. "There is not enough educated talent as demand continues to grow," Nyquist said. "We're doing our best to find talent because human capital will continue to drive our country and technology and we need more and more talent," Nyquist concluded. Q&A led by Dr. Laura Starks (far right), with L to r) Bech Bruun, Mine Yucel, Jim Nyquist and Mellie Price. Q&A led by Dr. Laura Starks (far right), with (l to r) Bech Bruun, Mine Yucel, Jim Nyquist and Mellie Price. 2016 Economic Forecast, Bech Bruun, CEO, Dr. Laura Starks, Emerson Process Management, entrepreneurship, forecast, headwinds, Jim Nyquist, McCombs School of Business, Mellie Price, Softmatch, technology, Texas, Texas Water Development Board, UT, water
"The industry has reached a tipping point in which projects are not sustainable with current budget and schedule excesses," said Jim Nyquist, president of Emerson Process Management's Systems and Solution business.
"For a project of this scale, managing budget and schedule risk is paramount," said Jim Nyquist, group vice president of Emerson.