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:
- Particular business value in predicting final out-turn cost – During the first 70% of project duration
- Reliable prediction and early warning of final cost overruns – Approximately 20-30% of project duration earlier (with precision 70-80%)
- 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.
So, what can project delivery organisations do to harness the power of their stranded data assets through Octant AI and machine learning? The key to this is data.
Smart organisations develop strategies that capture data for AI. A Data Management Strategy can help to systematically collect project data into accessible data warehouses for future use.
Contact us now to understand which data enhances business outcomes and improves project returns.
