Costs

Why Artificial Intelligence (AI) can Become Meaningless if Risks and Change Management Are Not Closely Integrated on Capital Construction Projects

The main objective of using Machine Learning (ML) and Artificial Intelligence (AI) on capital construction projects is to enable stakeholders to have a better prediction of future results based on current performance and actions. The many assumptions that need to be done about the project to address the many unknowns Read more…

By Tony, ago

What Historical Data is Needed to Train Your Machine to Better Predict Cost Overruns and Schedule Delays on Capital Construction Projects?

The demand of predicting future results based on current performance and actions has been always a requirement when it comes to delivering capital construction projects. Entities are always keen to know whether their projects’ cost at completion will exceed what they have budgeted for as well as whether their projects’ Read more…

By Tony, ago

How to Have a Single Version of the Truth Cost Performance Status Report When Managing the Contractor’s Contract Price on Capital Construction Projects

The fourth and last article that relates to “How to Enforce the Culture of “100% Committed to Achieve” in Managing the Contractor’s Contract Price on Capital Construction Projects?”, will address how to how a single version of the truth cost performance status report of the contract agreement between the Project Read more…

By Tony, ago