Fimpec bolstered its expertise and resources for executing large investment projects at the beginning of March when Raimo Kaunismäki started as a project director at Fimpec. Kaunismäki has spent his entire career in various project management roles, especially in the process industry and infrastructure projects. He has extensive experience as a project manager, project director, and head of project departments, both in Finland and internationally. Kaunismäki graduated in 1992 with a Master of Science from Aalto University, specializing in process engineering and industrial management.

Kaunismäki joined Fimpec from Infinited Fiber Company, where he held a Project Director position. He mentions that the opportunity to implement interesting and challenging projects attracted him to the role.

“Fimpec is a reputable and growing company that offers many opportunities. I feel it also allows me to utilize my skills in a diverse way. I have been involved in projects as a client’s representative, an engineering/consulting firm’s representative, and an equipment supplier’s employee, so I have gained experience from different perspectives,” says Kaunismäki.

“We have been working in project management roles for significant industrial investments for a long time, and it’s great that the opportunities we offer attract leading professionals in our field. Raimo strengthens our organization’s capability, especially in extensive and demanding investment projects, and I welcome Raimo to successfully execute projects together with our clients at Fimpec,” states Mikko Turunen, Managing Director of Fimpec PMO Oy.

For more information:

Mikko Turunen
Managing Director, Fimpec PMO Oy
Phone: 040 844 7566
Email: mikko.turunen@fimpec.com

In the management of large and complex investment projects, obtaining up-to-date information for project management use remains a challenge. Despite the potential offered by the proliferation of information models and their usage, an effective method for this has not yet been developed. However, the situation is now changing.

At Fimpec, we have progressed to the point where we are implementing a solution in our projects that enables true data-driven management. It is model-based, simple for users, visualized, current, and allows for the exploration and optimization of alternatives.

How do we enable data-driven management, and why are we successful?

Our solution leverages information models, integrating them with other types of data typically produced in investment projects. It closely links to our existing automatic quantity surveying service, enabling precise, detailed tracking of quantities and their changes. Thus, we gather comprehensive data on project schedules, costs, environmental conditions, contractor performance, and other aspects. By collecting and analyzing this data using our custom formulas, we gain a holistic view of project dynamics, facilitating informed decision-making.

Data management is key. Information is continuously collected, analyzed, and used to produce reports that guide decision-making. Ultimately, this data is archived and utilized in planning future projects.

Our solution recognizes that despite the use of information modeling and the abundance of data in large investment projects, existing information has not been effectively refined and used in project management. To address this, we developed a system where schedules, costs, and other monitoring data are combined into a single database, easily reportable to project management and, for example, investors.

This has always been a goal of information modeling, but progress has been hampered by issues such as proprietary software interfaces, which have now been opened up. There has been a focus solely on information modelling, waiting for it to solve everything. We, on the other hand, have taken a broader view: if the information model lacks certain data, we can import it through another route and integrate it with the model. Combining models and data provides real-time quantity and cost information that is constantly updated, resulting in useful and meaningful data.

How is the information displayed and used?

In our data-driven management solution, reporting of the aggregated data is based on real-time, precise visualization, making it easily understandable and user-friendly. The integration of BIM models and external data sources enables this, allowing us to tailor information to the needs of different target groups.

We can provide investors with real-time information in an easy-to-understand format, for example, through weekly reports, using a few indicators that give an immediate overview of the current general situation of the project and its progress regarding costs and schedules.

If desired, it is possible to delve deeper into the data, which shows in more detail what has happened in the project and the reasons for the changes of interest. This project management-directed information enables comprehensive project monitoring, for example, through the use of S-curves that track production progress and costs relative to the schedule. It also enables life cycle assessment (LCA) calculations and detailed carbon footprint reports for managing low carbon footprint over the entire lifecycle of a building.

From a data-driven management perspective, it’s crucial that the data can be examined in such detail that things can be seen down to the precision of a structural component. Project management can view the current situation, for instance, how many piles and pillars are needed according to the plans relative to the budget, their cost, what has been installed, what hasn’t been installed, and how they are progressing in terms of schedule.

What are the benefits of data-driven management?

The enablement of data-driven management primarily means that correct decisions can be made at the right time in an investment project. By collecting and refining actual performance data, deviations are quickly identified, enabling proactive measures. We can see more quickly where the project currently stands and where it will go if no steering actions are taken. Ideally, project management can focus on resolving issues before they occur.

At the same time, bureaucracy decreases with fewer reports, less data collection, and fewer excel spreadsheets to combine. In theory, we could have one report that includes different views and updates as the background information changes. When reporting occurs on a single platform, there’s no need for excels, PDFs, or software requiring investment and training.

From a learning and future project perspective, a significant benefit is also that the project can always be rewound to any desired point and the entire project deconstructed in detail afterward. This is possible because data is continuously fed during the project and collected in one place. Hence, we know precisely who did what, when, and what was billed afterward. This reduces disputes but also offers entirely new opportunities for learning. By identifying aspects of the project that have gone better or worse than expected, we can get to the root causes by accessing and analyzing the data.

Having all project-related information systematically documented in this manner provides an incredibly strong foundation for planning future projects. Continuous data collection and management enable multi-project management, where historical data is used to improve efficiency in future projects.

What does the transition to data-driven management require from project participants?

Often, even fundamentally good reforms are challenging to implement because they require changes in working methods, training, or investments. One of the starting points for our solution was that it does not require software purchases, training needs, additional work, or changes in working methods from either our clients or contractors. The only requirements are the use of an information model in the project and the systematic maintenance of data.

In this data maintenance, we have kept to formats familiar to contractors. Behind them, our own formulas run, enabling the extraction of metrics from the data for decision support. The difference is that whereas data is currently filled in, for example, monthly and forwarded, with data-driven management, it can be filled in daily, providing continuous updates on project progress.

Where are we now?

As stated at the beginning of this article, the new solution is being gradually implemented. Currently, we are at a stage where each component has been put into production, and efforts are being made to integrate them into a single package.

The author, Senior Consultant Kim Hagelberg, has played a key role in the development of data-driven management at Fimpec.

For more information on how Fimpec leads with data, contact:

Johan Appelqvist
Operative Director, Cost management
Phone: +358 50 466 0907
Email: johan.appelqvist(at)fimpec.com

2023 was a year of robust growth for Fimpec Group. Revenue rose to 50.5 million euros (up from 41.1 million in 2022), and the workforce numbered 440 at the end of 2023 (up from 389 in 2022). By the end of the fiscal year, the market situation, particularly in project management, energy engineering, and industrial engineering units, propelled the company’s bid portfolio to an all-time high. However, EBITDA dropped to 1.7 million euros (down from 3.0 million in 2022). The decline to below the industry average in EBITDA was attributed to investments and recruitments associated with rapid growth, as well as internal restructuring.

“Behind this positive development are our successful strategic choices and customer satisfaction. Our skilled and experienced staff has repeatedly succeeded in winning orders and maintaining trust with clients in highly demanding projects,” states Jukka Nieminen, CEO of Fimpec.

Fimpec Continues Its International Expansion

In addition to its Finnish company, Fimpec has subsidiaries in Sweden, Estonia, and Germany, emphasizing its expansion and operational footprint within Europe. The company’s progress in these countries continued as planned.

In South America, Fimpec strengthened its presence and sought new client relationships in the energy, forestry, and mining sectors. The South American market, already familiar to Fimpec from long-term forestry projects in which it has been involved in both engineering and project management, presents significant opportunities. Subsidiaries in Uruguay and Chile serve this market.

Fimpec Focuses on Clean Transition and Energy-Intensive Sectors

In 2023, Fimpec decided to seek growth particularly from opportunities offered by the clean transition in the industrial sector and services for energy-intensive sectors, including the battery value chain and critical minerals. These expanding markets offer Fimpec the best opportunities for profitable business growth in the coming years.

“Our strategic choices are linked to the market situation. The potential of the clean transition market can be seen from the Confederation of Finnish Industries, EK’s, green investments data window, which indicated that the total sum of investment plans related to the energy transition had risen to nearly 240 billion euros by March 2024. The significant increase in interest rates and cost inflation during 2023 affects the realization and schedules of investments, but there is still plenty of work in their preparation, even if not all investments are implemented immediately,” explains Nieminen.

To implement its strategy, Fimpec expanded and sharpened its service offering in the energy sector during 2023. Additionally, the company ventured into management consulting, establishing Fimpec Consulting Oy to offer independent advice related to the energy transition and clean transition to businesses seeking new directions and business opportunities.

Growth Expected to Continue

This year, Fimpec expects its revenue growth to continue as previous investments and strategic choices begin to yield results. The main theme for 2024 is profitable growth and the implementation of Fimpec’s growth strategy, taking into account market and investment environment developments.

“My personal concern is directed towards external factors in the industry in Finland. To attract future investments, especially from foreign investors, Finland’s appeal as an investment environment must be further improved. It’s crucial to maintain our level of education, cost competitiveness, and labor peace, which will help us attract investments to Finland,” Nieminen comments.

For more information:

Jukka Nieminen, CEO, Fimpec Group Oy
Phone: +358 40 557 4547
jukka.nieminen(at)fimpec.com

Currently, Fimpec employs over 440 experts, recognized as top professionals in their fields. The company is perceived as an attractive workplace offering opportunities for engaging tasks and personal skill development. We are committed to maintaining this culture by investing in our staff’s professional growth and education, ensuring we serve our clients using the latest knowledge and methods.

We constantly think about how to encourage and enable our employees to develop their skills in a way that suits our workplace culture. This involves high professionals whose learning needs are highly individual. Our learning policy is based on a strong belief in the individual’s responsibility, motivation, and desire to learn.

This means every employee is primarily responsible for their own learning and skill development, considering their interests and career development goals. As a company, we want to encourage and support each individual’s active learning. We explore various training and learning courses to enable every employee to develop their skills and achieve their professional goals. To this end, we have established the Fimpec Academy, among other initiatives.

Another key aspect of our learning policy is fostering a learning organization culture. We aim to create and maintain a culture where learning and knowledge sharing are everyday activities. This involves encouraging open communication, information sharing, and collaboration across teams and departments. The idea is that every employee can mentor others. To achieve this goal, we continually develop coaching and mentoring. This is crucial as, according to the well-established 70:20:10 model by Robert Eichinger and Michael Lombardo, the majority of employee development and learning occurs through work, interaction, and collaboration with others. Peer support from colleagues is essential and a hallmark of how we operate at Fimpec.

Fimpec Academy Facilitates Learning Pathways

The aforementioned Fimpec Academy supports our learning policy. It plays a role in implementing our learning policy on a practical level, including continuous assessment of our staff’s learning needs and searching for and informing them about relevant training opportunities. When necessary, Fimpec Academy also organizes customized training for the whole of Fimpec and various organizational needs if there are widespread needs. For example, a project management training course was conducted in the fall of 2023.

The focus has been on independently completed courses, which are widely available, ranging from short targeted training to large learning packages. Our staff can undertake these to develop their professional competencies. Identifying good courses and their scheduling has been a challenge, which is one reason the Fimpec Academy was established. Feedback indicates that the threshold for participating in training has been lowered when we can provide this information. Our staff has taken advantage of training in clean transitions, leadership, and mentoring, but a wide range of courses is continuously available, including on topics related to occupational well-being.

In addition to the training selection and provision by Fimpec Academy, self-development and its goals are a central topic in performance discussions between supervisors and employees.

Collaboration with Universities Benefits All Parties

Part of our learning-related activities includes collaboration with universities. Fimpec traditionally offers internships and thesis positions to students from various disciplines to support their graduation. We also visit educational institutions to share insights into what working life is like in a specialist organization like ours. Additionally, some of our experts lecture on their specialties at various institutions.

From our staff’s perspective, participating in educational collaboration offers an opportunity to expand their expertise into a new area, which involves sharing knowledge and evaluating their own competencies and work-life perceptions. From my own experience, I can say it’s exciting and rewarding.

The author, Pekka Silvennoinen, is a seasoned Automation Engineer who became passionate about studying to become a professional teacher at the Jyväskylä University of Applied Sciences (Jamk) Professional Teacher Education while working at Fimpec. He now serves as the Competence Development Manager of Fimpec Academy and also teaches at Jamk.

For more information
Pekka Silvennoinen
Competence Development Manager, Fimpec Academy
Phone: +358 50 4639 640
Email: pekka.silvennoinen@fimpec.com

In January 2024, Hannu Johto, who joined the new Batteries & Critical Minerals business unit, brings versatile expertise and experience in battery value chain and mineral processes, along with related business operations, to Fimpec as the Leading Process Specialist. His specialized knowledge includes pyrometallurgy.

With over 10 years of experience in the mining industry, Johto has served as an expert in numerous extensive projects, overseeing diverse development tasks such as quality development, business development, leading process engineering, and sales. Previously, Johto has worked with companies such as Sweco and Metso.

In his role as the Lead Process Specialist, he will be responsible for growing and developing the business by acting as a Project Manager and as a Process Engineer in collaborative projects. In his work, he reports to Sami Ström, the Business Unit Director of Batteries and Critical Minerals.

“I am particularly excited about Fimpec’s international projects and the opportunity to utilize my core expertise in them. As far as I know, I am the first specialist in pyrometallurgy at Fimpec, and I believe that my expertise will bring significant added value to the business unit,” Johto says.

According to Sami Ström, the Business Unit Director of Batteries & Critical Minerals, Johto’s extensive experience significantly strengthens Fimpec’s expertise portfolio and supports a determined growth strategy.

“Johto’s specialized expertise complements our unit excellently. His extensive knowledge in the mining industry, and his specialized expertise are an essential support for achieving our growth strategy goals,” Ström mentions.

For more information:
Sami Ström
Business Unit Director, Batteries & Critical Minerals
+358 40 596 5029
sami.strom(at)fimpec.com

In large construction projects, it is common for budgets, schedules, or both to fail. For example, Bent Flybjerg’s research Introduction: The Iron Law of Megaproject Management study (The Oxford Handbook of Megaproject Management, Oxford University Press, 2017), notes that 91.5 percent of megaprojects exceed their budget or schedule. In large construction projects, the average budget overrun is 62 percent. The database used in the study included 16,000 construction projects from 136 countries.

A significant contributing factor to budget overruns is usually poor management of quantity data. Often, the connection between the budget and actual quantities and costs is lost during the construction project, and worst of all, too often this gap between the plan and project cost realization is only revealed in the final calculation, causing an unpleasant surprise. It is difficult to address these problems and prevent the accumulation of extra costs when there is no numeric data available during the project.

The reason for losing this connection is the manual calculation process used in quantity calculation, where quantities and their resulting costs are calculated from the plan. Manual quantity calculation is expensive, and that’s why it’s only done at certain stages of the project. In recent years, a solution to this problem has been sought through data models, but investments in them rarely pay off because the model is not effectively optimized and utilized.

Real-time information on project progress

However, this does not have to be the case. Technologies, modelling expertise, and the ability to process large amounts of data have developed rapidly in recent years, enabling among other things, the automation of quantity calculation and thus its transformation into a continuous process, even though the equation is still not easy.

At Fimpec, we have seized these opportunities and combined them with our extensive expertise and experience in large industrial construction projects as well as BIM-based cost, in which Fimpec pioneers in. Based on this, we have developed automatic quantity calculation based on IFC models used in 3D engineering. They provide the necessary data, for which we have developed an automatically functioning process for classifying, enriching, and refining it into user-friendly form, providing continuously updating quantity information for monitoring the construction project and decision-making.

We are pleased about the result and believe that it will elevate cost management in large industrial investment projects to a new level and meet the demands of today. Therefore, it is the market’s only automated quantity calculation service that provides real-time information on the progress of the project throughout the project from initial planning to final calculation. With this service, it is possible to monitor quantities and their changes accurately and by area. This enables decisions to be based on real situations and correct figures, not just a plan. This avoids unpleasant surprises during the project and at the end, avoids overestimation of quantities, reduces decision-related uncertainty, enables immediate intervention in schedule as well as cost deviations.

Potential savings of 2–5 percent in costs

From the client’s perspective, the essential benefit of automatic quantity calculation is that by using real-time information, unnecessary costs can be prevented, thereby achieving savings. When the project is managed with the support of automatic quantity calculation and cost management, the potential for cost prevention varies from 2 to 5 percent depending on the size of the project compared to the traditional project model. Savings occur in several areas of the project:

• Waste is minimal because the quantities needed are known precisely: planning is more accurate, only what is needed is purchased, contracting is guided by quantity calculation corresponding to actuality, unplanned work is further billed.
• Data-driven engineering is possible when quantity information corresponding to reality is available in the planning phase. This helps identify overly expensive planning solutions and reduces change work costs.
• Delays and other unexpected costs are reduced due to collaboration: better managed logistics, better managed scheduling, and reduced waiting bring efficiency to production and enable streamlining of operations.
• There are fewer disputes and their resolution costs when there are up-to-date facts about what should have been done and what has been done are available. Project management operates smoothly.

In addition, a good data model and correct planning save maintenance costs. Likewise, rapid completion of the project saves capital costs and enables rapid start-up of operations. Cost and time savings also result from the constantly updated quantity calculation, as the material required for the final calculation is essentially ready when the construction project is completed, and the final calculation is done with little effort.

One additional advantage is the traceability of quantity calculation data, as each of the sums produced by the service can be explored, broken down into parts, and traced back to what it consists of. Thus, it can be shown how the price of each area is formed from different components, their location, and which plan they originate from. From a future perspective, the benefit is that project data becomes available to the end client. It offers the opportunity for the client to learn from their own projects and utilize information in future projects in a completely new way.

All this is achieved with costs that are about 20 percent lower than in a project where equivalent quantity calculation is done manually. Therefore, we dare to promise that investing in automatic quantity calculation will pay off many times over in a construction project.

Easy to implement

One of the advantages of the service is that it does not require any special skills or expertise from the client. The only requirement is that the client commits to 3D engineering because the information obtained from it is the basis of the calculation. Nothing out of the ordinary is required, just systematicity.

From the perspective of a construction project, it is beneficial that Fimpec is involved in defining the modelling requirements from the very beginning. Acquiring the service is possible even in the later stages of the project, but then it likely requires additional work. In the early stages, the possibilities for influence are at their highest because the operating methods can be agreed upon with the engineers right from the beginning and get systematicity to work better. Likewise, making any changes in the early stages is easiest and the costs of changes are low.

In this article, I have intentionally focused solely on our automatic quantity calculation service. However, it can also be supplemented with other services, such as participatory cost management service, which in addition offers quantity calculation service throughout the project, expert support, guidance in engineering, verification of changes, and coordination of participatory cost management between parties throughout the project.

Writer Sebastian Nybäck works as BIM Manager at Fimpec and has played a key role in the development of automated quantity calculations.

If you are interested in learning more about automatic quantity calculations and related proactive and participatory decision-making, please contact

Johan Appelqvist
Operative Director, Cost Management
+358 50 466 0907
johan.appelqvist(at)fimpec.com

Starting on February 1, 2024, as the Operational Director for Project Management Services in Kokkola, Olli-Matti Airiola brings comprehensive and diverse expertise to Fimpec in the conceptual development of industrial areas and the execution and management of construction and infrastructure projects.

Airiola has previously served as the CEO of KIP Service Oy and Kokkolan Teollisuusvesi Oy. As the CEO of KIP Service, he was responsible for creating and developing various service, product, and pricing models on the Kokkola industrial estate, and leading their implementation.

In his role as Operational Director, he will be responsible for the project management and leadership tasks in the industrial and energy sectors, as well as sales and customer relationship management in his designated area. As the business area in Kokkola evolves, Airiola will also act as a supervisor and developer within the organization. He will report to Mikko Turunen, the Managing Director of Fimpec PMO.

“I have strong networks in many of Finland’s industrial areas, in addition to KIP. I believe that my extensive expertise in the development of industrial areas and project management of industrial investments can be utilized in the growing Fimpec. The numerous investment projects planned for the Kokkola area also bring positive prospects for Fimpec’s future,” anticipates Airiola.

According to Mikko Turunen, Airiola’s move to Fimpec significantly strengthens the company’s local expertise on the west coast and is part of the determined implementation of the growth strategy.

“Airiola’s expertise diversifies Fimpec’s service offerings in the development of industrial parks and project management services. With Airiola’s experience and extensive networks, we have the opportunity to expand our operations to Central Ostrobothnia in line with our growth strategy,” Turunen states.

More information:
Mikko Turunen
Managing Director, Fimpec PMO Oy
phone: +358 40 844 7566
email: mikko.turunen@fimpec.com

27-year-old Eelis Lähdemäki (M.Sc.) had clear career goals starting from a young age. Practical training at Porvoo oil refinery in secondary school gave him a real spark to study mathematics and chemistry, subjects in which he was already talented. After high school, Eelis continued his studies at Aalto University, earning a bachelor’s degree in chemical and process engineering. In the master’s phase, his studies shifted towards renewable energy technology.

“After my bachelor studies, I was looking for different challenges, and Aalto University had introduced a new major that focused specifically on the hydrogen economy and Power-to-X technologies. During my studies, the hydrogen boom started gaining momentum, and I saw this as an extremely interesting future opportunity, so I switched to studying energy technology in the master’s program,” he explains.

From Thesis Worker to Expert

Eelis found his way to Fimpec largely through his own initiative and skills. He wanted to work on a thesis that dealt with topics around carbon capture and Power-to-X technologies.

“A classmate told me about an interesting expert company called Fimpec. I approached the company with an open application, explaining my background and experience. I quickly received a response that there was an open position for a thesis worker in a top-notch international team,” Eelis says.

For his thesis at Fimpec, he chose the topic of process simulation and techno-economic assessment of carbon capture from biogenic sources. Eelis worked on his thesis in early 2023 and graduated later that year in July.

“I feel that my thesis is a very successful body of work. The framework was clear from the beginning, the schedule was well-maintained, and I learned a lot about the technology itself while working on it,” Eelis mentions.

He also appreciates that he was given a lot of responsibility from the beginning, and his self-management skills were trusted.

“The international work environment turned out to be really inspiring, and I feel that my working and team skills have developed tremendously,” he adds.

After graduating, Eelis has been working at Fimpec on customer projects related to hydrogen and renewable energy technologies, taking on various responsibilities as a project engineer. Expertise has been accumulated through practical experience.

“I have had the opportunity to engage in project management with the support of more experienced colleagues, which has been really motivating. I have always learned best by practice rather than just by reading theory,” Eelis praises.

Podcast Appearance with the Minister

The richness of Eelis’s role is evident in the fact that he was invited as an expert guest on Fimpec’s Kumppanit-podcast episode, where topics related to carbon capture were discussed, and visions of a carbon-neutral Finland were explored. In the same episode, the Minister of Climate and the Environment, Kai Mykkänen, also appeared as a guest. The episode featured an interesting and insightful discussion in Finnish on the potential of carbon capture as an industrial emission reduction measure.

“It was fantastic to discuss my area of expertise in such a prestigious company, even though it was a bit nerve-racking at first. A great experience, indeed, I can recommend it!” Eelis says with laughter.

“I guess that not every company offers such a big opportunity to a recent graduate, even if they have the knowledge and skills. I think it says a lot about the company’s trust and investment in its employees,” he continues.

Exploring New Frontiers Every Day

In addition to diversity, Eelis is motivated by innovation, supportive colleagues, and the opportunity to constantly learn new things in his work. The energy transition and green shift bring Eelis into the realm of significant issues every day, providing a whole new meaning to his work. According to him, the world increasingly needs green energy solutions to slow down climate change and reduce emissions.

“For me, it’s important that at Fimpec, I get to be involved in projects that contribute to the development of clean energy solutions. The industry is constantly evolving, and it’s great to be part of this right from the beginning and see what opportunities the future holds,” Eelis adds.

Balancing work, Eelis enjoys daily informal conversations with colleagues. While the work team has daily meetings, casual discussions continue in the group chat about leisure activities.

“I appreciate a great working environment, and I feel that we genuinely have that at Fimpec,” Eelis praises.

In his free time, Eelis engages in a variety of sports. Going to the gym, running, playing ball games, and skiing in the winter help refresh the expert’s mind in the best possible way.

“In every day, there has to be something just for yourself! Fortunately, in today’s working world, leisure activities, and relaxation are also considered important. The solutions and innovation that come from the brainstorming process must be given room to develop,” he concludes.