Insights

Why you should have a Data Strategy

Endeavour Programme’s unique AI solution “Octant AI” uses a process called Reference Class Forecasting to learn from existing historical project data. It uses this knowledge to predict future performances. Our tailored algorithms have undergone comprehensive testing and can provide the following business benefits:

  1. Particular business value in predicting final out-turn cost – During the first 70% of project duration
  2. Reliable prediction and early warning of final cost overruns – Approximately 20-30% of project duration earlier (with precision 70-80%)
  3. Improved portfolio forecasting accuracy – Circa 15-20% more accurate in predicting actual final cost outcomes

Together with advanced analysis of business data, analytics dashboards, and embedment of AI enhancements the value to the business is assessed as at least equivalent to margin increase of 1% of turnover. Read more +

Insights

How Octant AI can provide financial insights into COVID19 Disruption

COVID-19 has an ongoing impact on the day to day operations of construction companies. Construction companies need to re-think the “how” to do business and require a complete focus on core activities.

New norms of conducting business in an environment where social distancing is necessary are leading to less efficient methods of working. This is causing a level of disruption and associated loss in productivity and efficiency at every level. It ranges from how many men can work in a trench, to the logistics of having three men in a 12-man hoist for vertical construction.

This complexity makes it very difficult to foresee the future, when the cumulative knowledge is based on traditional ways of working. Unfortunately, these ways do not reflect the current environment. Read more +

Insights

Transforming productivity in a lagging industry

Big idea pioneer David Porter envisions a world where our $10 trillion project construction industry is no longer burdened by cost and time overruns. David said it’s the typical story we see in the media; massive infrastructure projects running millions or billions of dollars over budget and years late.

“These projects inevitably become the focus of political and media scrutiny, and so they should. If airlines had the track record of major projects, there wouldn’t be an airline industry,” David said. Read more +

Insights

Lessons learnt from AI in practice on major projects

Endeavour Programme and BMD Urban: Lessons learnt from AI in practice on major projects

By Dr George Quezada, CSIRO Data61 on secondment to Arup Australasia

The world is amidst an artificial intelligence (AI) arms race with tech giants and national governments vying to create the best tech and skills ecosystem. According to CSIRO’s Data61 recent report, Australia’s AI Roadmap[1], AI could be worth over $22 trillion to the global economy by 2030. That’s new value created by humans working collaboratively with a new breed of software tools. Software that can harness and use enormous amounts of data to realise untapped value and achieve benefits and important goals, such as early detection of cancer, agricultural robots, vehicle crash avoidance, targeted infrastructure maintenance and more.

But what does it take to implement AI technology and create a successful business use case? I’ve explored this question with Australian-based AI start-up Endeavour Programme which is working with Brisbane-based civil construction company BMD Urban. BMD Urban is presently implementing Octant AI, an AI-enabled project management tool to help the business and project managers detect problematic projects, 30-60 percent ahead of time compared to current processes. The collaboration between Endeavour Programme and BMD Urban provides a useful case study to illustrate how adopting advanced AI technology enhances capabilities to tackle practical business problems and can provide valuable business insights and identify commercial opportunities and benefits. Read more +

Insights

Reflections on the Fourth Industrial Revolution: Insights for major capital projects

With the World Economic Forum currently underway in Switzerland, I reflect on 6 June 2018. On this day, I was honoured to attend a select round-table discussion hosted jointly by the World Economic Forum Infrastructure and Urban Development Industries community, Stanford’s Global Projects Center and the Major Programme Management group at Oxford’s Saïd Business School.

This round table brought together a distinguished group of 30 industry professionals, senior executives, academics and other thought-leaders to discuss the challenges affecting the global construction industry. These discussions were part of a series of strategic dialogues designed to promote a cross-disciplinary agenda of industry reform, bringing together professionals of all disciplines who are committed to transforming the way major capital projects are planned and delivered for the future. Read more +

Insights

BMD and Endeavour Programme Collaboration progresses to Implementation Phase

Over the last 12 months Endeavour Programme has been working closely with BMD Group Business Systems Manager Patrick Pearl to pilot the use of Octant. Data from almost 460 projects collected over seven years was used to demonstrate the business advantages of machine learning and artificial intelligence in predicting outcomes sooner than business norms and with greater accuracy.

Having completed several rounds of testing, our collaboration now moves into the implementation phase. We are working with a number of BMD senior managers and we expect to augment current business procedures with additional insights. Artificial intelligence predictions will alert these managers to projects with emerging cost over-runs and under-runs. Read more +

News

Bent Flyvbjerg receives the 2019 PMI Research Achievement Award

Today, the Project Management Institute (PMI) will recognise the important work and contribution to the project management profession of one of our teaming partners, Professor Bent Flyvbjerg, by presenting him with the 2019 PMI Research Achievement Award. The PMI Research Achievement Award recognises and honours an individual whose work has significantly advanced the concepts, knowledge, and practices of project management through a published body of academic research.

Read the full article here.

News

The end of cost and time overruns in major programme management?

Time and cost overruns are a well-known feature of major infrastructure and IT projects around the world.

Hitting the headlines regularly are reports of budgets spiralling out of control, and projects completing months or years past their proposed launch dates, negatively impacting companies, cities or even whole economies.

Two alumni of the MSc Major Programme Management (MMPM) at Saïd Business School, University of Oxford are changing that by bringing AI to the sector. David Porter, a successful businessman with no previous exposure to AI, and Cuong Quang, a project manager with industrial AI experience, met in 2015 on the MMPM and set up Endeavour Programme. Cuong has commercialised his AI innovations through Endeavour Programme to tackle the issues that surround the effective delivery of mega-projects and break the cycle of failure. Read more +

News

Octant AI Product Update

Octant Predict

Endeavour Programme’s Octant AI Predict Module forecasts final cost and project profitability, using powerful algorithms and extensive industry data from many sectors (water, road and civil projects). The artificial intelligence platform can be used to provide data driven predictions for any similar projects for any sector specific client. The most advanced sector in the stable focusses on roads and civil projects with a building project platform in the wings. Octant AI reduces costs and time overruns by providing project decision makers with more accurate, faster and earlier project outcome forecasts, which allows more informed decisions with less uncertainty. It is the vanguard of a new approach to project decision making which underpins measurable improvement to the current non-AI methods used globally.

Octant AI is cloud based and runs on Amazon Web Services (AWS) which is secure, easy to use, integrates with most corporate data warehousing systems and operates across any device. It is accessed online in a SaaS format. Risks of data security have been addressed, with an easily adapted method available to integrate with client data security and privacy policies. Read more +