Leading Project Advisory Firm Joins Forces with Brisbane AI Start-up
Leading project advisory firm Core Project Advisory has teamed up with Brisbane based artificial intelligence and machine learning start-up, Endeavour Programme. Under the memorandum of understanding the parties will further investigate the opportunities for professional collaboration to include the use of Octant AI to predict cost and time overruns in major projects. Endeavour Programme has demonstrated improved performance over traditional approaches.
Octant AI provides an early warning based on data driven predictions which enables project managers to take preventive action early to minimise cost and time blowouts. Globally the over run on projects is a $1tn problem that plagues the project management industry. Through combining project data with the latest machine learning and artificial intelligence technologies, Octant AI allows users to manage and control cost and time overruns.
In recent trails with a major Queensland Contractor, Octant AI was able to predict losses and gains on projects, on average up to 50% earlier and 200% more accurately.
Dave Mason, Managing Director of Core Project Advisory, welcomed the partnership. “We are very excited about the potential that Octant AI has to support Core Project Advisory as we help out clients to effectively manage their projects across the utilities, construction, information technology, infrastructure and resources sectors.”
“Managing major projects is complex and for our industry, adopting new technologies like machine learning and artificial intelligence to create data driven decision making has the potential to transform outcomes for clients and communities.”
David Porter, Managing Director Endeavour Programme, looked forward to the partnership driving change “At Endeavour Programme we know we are creating something truly disruptive and transformative with Octant AI. For a firm as respected as Core Project Advisory to enter a teaming agreement with us shows not only their vision, but a firm belief that we have created a highly beneficial service for the project managers and their clients.”
Core Project Advisory and Endeavour Programme will collaborate to provide Octant AI as a ‘Software as a Service’ hosted in the cloud, readily accessible by potential clients.