The trade-off between the 'Traditional' and the ‘Modularization & Standardization’ business model in the incumbent plant engineering industry: Developing a framework that can help plant engineers in the assessment between staying 'traditional' or going M&S

The incumbent (chemical) plant engineering industry is under pressure for two reasons. At first, the rising internationalization of the economy results in low-cost competitors putting pressure on prices and lead times of projects. Secondly, the decreasing oil prices result in major investment cuts in the oil & gas and chemical industry. As a...