ReInventing Infrastructure and Capital Projects

Data is everywhere – and the Construction and Infrastructure is no exception.

The amount of data being created by project teams and asset operators is staggering, and the pace can only accelerate. How to turn the data into information and that information into actionable knowledge? Enter Advanced Analytics.

Beyond simple analysis

With only 0.5% of projects being delivered on time, on budget and meeting expectations*, industry professionals must embrace advanced capabilities to leverage past experiences, understand in detail the factors impacting the trajectory of the project and anticipate events.

At the same time, operators in charge of hundreds, if not thousands of assets, need innovative ways to capture, evaluate, anticipate and act on the deterioration of these in order to manage their risk exposure.

This mindset requires organisations to move beyond their traditional skills that mainly concentrate on certain datasets to describe the past, and develop diagnostic, predictive and prescriptive skills.

Advancing at every level

The use of advanced analytics is not about acquiring new tools – it requires rethinking the operating model across the lifecycle of the asset (from inception to operations and maintenance): Organisation & culture, processes and governance layers as well.

Furthermore, organisations should be able to identify and properly communicate the benefits of the advanced analytics paradigm at the executive, management and operational levels, to gain buy-in.

This point of view provides a starting point for industry participants to reconsider how analytics should be integrated into the way they work if the industry is to face challenges that are becoming more – well – advanced.

*”How Frank Gehry Delivers on Time and on Budget: Lessons from the Master Architect in Managing Big Projects”, Flyvberg and Gardner, 2023.