Much of current management literature focuses on a limited set of
'classical' value levers, such as cost reduction, sales optimization or
mergers & acquisitions, thus neglecting another core value lever:
capital investments. That capital investments receive such limited
attention is all the more surprising when one considers how vitally
important they are to the economy as a whole as well as individual businesses.
There is significant value-creation potential in optimizing capital
investments. Investments not only determine the asset structure of a
venture. They also enable the introduction of new products structural
cost reductions. The book focuses on core questions to be answered in
the critical design and realization phase of new investments:
The book features an introductory section that provides an overview
of investments across the globe, across industries and across time
provides practical advice on how to allocate capital to several
projects within a company's investment portfolio.
Optimising Fixed Asset Investment is illustrated with
real world examples from a range of industries. This book is essential
reading for managers faced with challenges of making individual or
portfolio capital investment decisions and who are responsible for
managing these capital assets over their entire asset lifecycle. The
ideas put forward within the book will help to sharpen the focus of
management on the impact capital investments have on the well-being
and growth of their companies.
Optimizing Fixed Asset Investments is a strategic manual
for everyone involved or interested in large fixed-capital
investments.
Hauke Hansen works as a production manager for
ASML in Veldhoven (NL). Prior to his current job he was an Associate
Principal in McKinsey's Düsseldorf office. He served high-tech,
telecom, logistics and telecom companies and supported several
multi-billion dollar investment projects. He holds a PhD in physics
from the University of Konstanz and was a Fulbright-scholar at the
California Institute of Technology.
Wolfgang Huhn is a Director in McKinsey's Frankfurt office. He
primarily serves clients in the high tech industry as well as in
energy. Wolfgang is a member of the Business Technology Office where
he leads the industrial sector in Europe. He also leads the European
Product Development Practice. Prior to joining McKinsey, Wolfgang
studied electrical engineering and physics in Aachen and UK and
obtained his PhD in Physics from the RWTH Aachen. From 1998 to 2000,
Wolfgang was the CEO of a VC-backed company.
Olivier Legrand is a Partner in McKinsey's Paris office. He
serves clients in the transportation, steel and aluminum industries as
well as in consumer goods and energy. Olivier co-leads McKinsey's
global capital productivity group. Prior to joining McKinsey, Olivier
spent four years with Air France in marketing research, marketing and
sales positions. Olivier holds an MBA from Stanford Business School.
Daniel Steiners is an Associate Principal in McKinsey's
Düsseldorf office. He serves clients in electric power and chemicals
across Europe and North America and is a co-leader of McKinsey's
European capital productivity group. Daniel received a diploma in
business administration from Muenster University and a PhD in
management accounting from the European Business School in Oestrich-Winkel.
Thomas Vahlenkamp is a Director in McKinsey's Düsseldorf
office. He serves clients in the coal, oil, gas, power, and chemicals
as well as transportation industries. Thomas is the sector leader of
the Energy and Materials Practice in Germany and a member of the
leadership group of the European Electric Power and Natural Gas
Practice. His educational background is in polymer chemistry. He holds
a degree from the Technical University of Aachen (RWTH) and a
doctorate from the Max Planck Institute for Polymer Research.
