How digital technologies will help sustain the health of construction projects
Rob Bryant, EVP of APJ at InEight Project health is constantly buffeted by risk events from all sides. And projects in Australia are being crippled by a trifecta of weather, supply chain disruption and increasing input costs. Working through another La Niña season, the wet weather will loom over the construction sector as projects will once again be delayed and subsequently run over budget because of persistent and unusual weather. Hence, it is no surprise the latest InEight Global Capital Projects Outlook reveals there is a 11% higher concern over climate change from 2021 to 2022. Managing risk, improving efficiency, and determining more predicable outcomes are all strategies to help reign in those factors and bring about a sense of wellbeing in a project landscape that is littered with chaos mines. Developments in digital technologies enable solutions such as artificial intelligence (AI) and enhancements to Critical Path Method (CPM) provide timely forecasts, reliable predictions, and effective risk management in the face of changing factors, whatever the weather. How can AI support risk management Although AI is not some magic tool whereby a contractor pushes a button and generates a schedule, it can be leveraged and manipulated to provide more realistic, dependable suggestions. In effect, it improves the planning process by enabling a computer to mimic the way a human makes decisions. An inference engine is a component of the AI system that applies logical rules to the knowledge base to deduce new information. When a project owner asks for a suggestion, the inference engine requests inputs in order to understand the context, such as the type of project, location, quantities and other variables. It then uses those variables to understand context, interrogate the knowledge library and provide suggestions. To fully capitalise from the benefits of AI, project leaders are provided […]