A global technology alliance has been formed by three major project industry firms to implement world-leading Artificial Intelligence (AI) technology on large-scale projects to tackle time and cost overruns
Australian project technology firm Endeavour Programme, global engineering, management and development firm Mott MacDonald, and international cost consultants WT Partnership will introduce a data-driven approach to project management that will provide the opportunity to better manage projects of any kind globally.
The alliance is set to deploy Octant AI, designed by Australian technology start-up Endeavour Programme.
Octant AI gathers and analyses project performance data to produce improved insights, allowing earlier, more effective decision making.
“Large projects have become so complex with so many interdependencies and stakeholders, that managing them with traditional methods is no longer reliable,” says Endeavour Programme founder and director David Porter.
“The increasing complexity of projects, combined with human limitations, is at the root of the problem.
“We’re aiming to lead the way in adapting this new technology through our alliance, and we’re seeking to make a measurable change to the performance of mega-projects globally.
“It’s a big challenge but with up to two trillion dollars in project overruns annually, there is a lot of benefit.”
The new global technology alliance will use Endeavour Programme’s Octant AI technology, uniting it with the vast knowledge and industry experience of Mott MacDonald and WT Partnership in the delivery of large-scale projects around the world.
Dan Phillips, global practice lead for project, programme and commercial management at Mott MacDonald said despite the huge amount of time and money invested in the delivery of major projects, they continue to underperform.
“Major projects are delivering less than budgeted benefits and inevitably become the focus of political and media scrutiny,” Mr Phillips said.
“The construction industry lags behind other industries in the use of data and adoption of AI technology.
“This technology will play a big part in helping us achieve better outcomes for project teams, clients and ultimately the end users who feel the effect of project delays and cost overruns the most.”
Nick Deeks, managing director of international cost management consultancy WT Partnership, said the future of professional services for projects has to be integrated with emerging technologies such as Octant AI.
“Our clients want more certainty, better adaptability and the better value for money that technology can deliver,” Mr Deeks said.
“We want to be leading in this field, and this is the most advanced AI technology available in the market.”
Early applications of Octant AI have been used on civil projects and for large government portfolios. The alliance also plans to roll out new modules for other sectors.
“The results are remarkable, and we’re excited to see how we can widen its application to projects in a broad range of industries,” Mr Porter said.
“We are really pleased to be able to work with such respected and innovative firms. This gives our technology the channel to make a real difference at scale.
“We will be working closely with our alliance partners and clients to integrate this technology to deliver better outcomes for everyone.”
About Endeavour Programme
Endeavour Programme is an innovative project services firm that was formed through the collaboration of nearly 100 professionals based around the world, with a variety of academic backgrounds and industries including computer science, artificial intelligence, machine learning, project management, engineering and the construction and infrastructure sectors. They all share a common goal: to improve the efficiency of major projects and programmes of work across the globe.
Major projects are rarely delivered on time and within budget, but Endeavour Programme is refusing to accept this as the norm, implementing Artificial Intelligence, data analytics and related technologies to assist project managers in delivering projects effectively and efficiently.
About Mott McDonald
Opening opportunities with connected thinking. Mott MacDonald is a US$2bn engineering, management and development consultancy. We’re involved in:
• solving some of the world’s most urgent social, environmental and economic challenges
• helping governments and businesses plan, deliver and sustain their strategic goals
• responding to humanitarian and natural emergencies
• improving people’s lives
Our expertise by sector includes buildings, communications, defence, education, environment, health, industry, mining, oil and gas, power, transport, urban development, water, wastewater and more. Our skills encompass planning, studies and design, project finance, technical advisory services, project and programme management, management consultancy and beyond. For every project, we create the blend of talent needed to create the right result – appropriate; cost, carbon and resource-efficient; safe, easy and swift to deliver and operate; reliable and resilient; delivering great outcomes. Engineering. Management. Consultancy.
About WT Partnership
WT Partnership are award-winning international cost management consultants, quantity surveyors, sustainability consultants, asset and building consultants, PPP advisors and facilities managers. WT’s expertise covers the building, construction and infrastructure sectors, as well as the management of facilities and the provision of consultancy services. Not just in Australia and the United Kingdom. WT are in Europe, Asia, India, North America, Middle East and the Pacific, providing consultancy services for public and private sector clients. WT consists of 1,500 of the profession’s best people.