Summary
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CVX led effort not BCG led, will follow 12-18 months long CPDEP, currently in early Ph 2, project team and governance announced
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will focus on organizational and workflow efficiency opportunities and will result in people reduction
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objective to be competitive in new price environment
My take on it:
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could have matured to PH 3 prior to announcing it will be a major distraction
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SJV just went through ESP in 2016 resulting 15% reductions across the board seems like the didn't do a good job
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suggest to do a better job this time and don't leave any sacred cows yes there are tons of opportunities.