bp – Qi Zhao – 2022
Goals
bp, as a global leading energy company, is planning to develop a carbon management software. Although the project has made substantial progress, some key elements of this project, like significance, target customer, cost and benefit, were still not clearly investigated. In this context, Qi Zhao joined bp to establish a business case for this project so that those questions could be answered.
Solutions
Qi Zhao has contributed to the business case in 3 ways:
- Analyzed customer pain points alongside their decarbonization journey. After reviewing existing research and products, Qi Zhao has summarized the pain points for each decarbonization stage
- Evaluated the sectoral demand for carbon management software using a 2-dimensional framework. Qi Zhao created a multi-criteria analysis (MCA) evaluation framework composed of 6 indicators in 2 dimensions, and identified the priority for customer sectors of bp’s product.
- Established the financial model for the project. Qi Zhao used several accessible data, including customer growth, marginal profit and estimated market capture rate, to build the financial model for the project, with its revenue, cost and profit calculated.
Potential Impact
Qi Zhao’s work significantly facilitated the progress of the carbon management software project. With several key questions answered, his work could be helpful both for the internal project stage-gating and external communication.
Moreover, Qi Zhao has also provided analytical support for the decarbonization cooperation between bp and its partners, which is beneficial for bp to propose new projects to its partners.
