Live Chat ×
Skip to main content

(OWN-2565) Data-Driven Management for Digital Capital Projects

Presentation Icon
Level: Basic
Author(s): Margaret Lucey; Jesse Lund, CCP PSP; Avi Schwartz; Samarth Shah
Venue: 2017 AACE International Annual Meeting, Orlando, FL

Abstract: Construction projects and budgets are under scrutiny – requiring an increase in transparency, accountability, and accessibility to information. Combined with an influx of data from emerging technologies, the challenge for executives is to transform this information into insight, promoting data-driven decisions as they balance increased demands with limited resources. The typical implementation of project management solutions within capital programs often leads to redundant tracking from multiple systems and decreased data quality from disconnected systems. The various data sources hinder managers from prioritizing, understanding, and reporting project performance. Analytical and data visualization solutions tailored to the construction industry can help summarize performance, provide deeper insights, and highlight previously unknown risks – critical in managing complex construction portfolios. Maintaining access to construction analytics based on readily available data sets provides owners with rapid and reliable snapshots of project performance along with predictive indicators. This allows business owners to more effectively monitor their projects and more easily identify risks.