A global technology alliance has been formed by three major project industry firms to implement world-leading AI technology on large-scale projects.
SYDNEY, AUS — Australian project technology firm Endeavour Programme, global engineering, management and development firm Mott MacDonald, and leading consultants WT Partnership (“WT”) 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. Endeavour Programme founder and director David Porter said large projects have become so complex with so many interdependencies and stakeholders, that managing them with traditional methods is no longer reliable.
“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.” David Porter, Endeavour Programme.
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. 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.” Dan Phillips, Mott Macdonald.
Nick Deeks, managing director of international 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. We want to be leading in this field, and this is the most advanced AI technology available in the market.” Nick Deeks, WT Partnership
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.”
Release originally issued: July 18, 2019 – Link Here
About WT Globally:
At WT, partnership isn’t just core to our name, it is the key to our effectiveness, and underpins the relationships with our clients – it defines the way we work with each other. This has been the case right through our history as award-winning international property, project and cost management consultants. Our expertise covers the building, construction and infrastructure sectors, as well as the management of facilities and the provision of advisory services. At WT, our clients’ goals are our goals. We understand that there is no such thing as a standard project. We tailor solutions to meet each client’s needs and objectives.
In North America:
WT Partnership is one of the fastest growing advisory firms in North America. Founded in Australia back in 1949, WT is known as the oldest start-up in the industry and has been a force in North America since 2010. A trusted advisor to Owners, Developers, Government and Private sector clients, WT currently manages $6.5 billion dollars of active mega projects across North America.
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