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Project Controls Reimagined: Unlocking the Power of AI

  • 1.  Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-09-2025 05:49 PM

    The Data Science & Advanced Analytics subcommittee is holding an event on January 21 at 11:00 am ET: Project Controls Reimagined: Unlocking the Power of AI

    Welcome, everyone, to this exciting webinar on Project Controls and Advanced Data Analytics. Today, we stand at the threshold of a transformative era where the fusion of project controls and advanced data analytics is reshaping how we deliver and manage capital projects. This is more than just a shift in tools and technologies - it's a fundamental step-change of how we approach cost engineering and project controls.

    The future holds immense possibilities: predictive insights that can anticipate challenges before they arise, machine learning models that can enhance cost predictability and improve project outcomes, and real-time dashboards that provide unparalleled transparency. However, with these opportunities comes the challenge of readiness. Success in this evolving landscape requires a proactive mindset, an openness to learning, and a commitment to leveraging data-driven strategies.

    This journey is a game-changer, promising to elevate our ability to deliver projects on time, within budget, and with greater certainty. Please join Lance Stephenson as we learn from his data analytics journey and explore how we can harness these advancements to stay ahead in a rapidly changing industry. Together, we'll uncover the tools, techniques, and strategies that will define the future of project controls.

    As a member of the Data Science & Advanced Analytics subcommittee, I encourage you to attend. Register here.



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 2.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-21-2025 12:12 PM

    This was a fantastic webinar that also let me know this TC exists. Thanks again for your efforts here, Lance!



    ------------------------------
    J Welch
    LightsourceBP
    Redmond
    j.welch@lightsourcebp.com
    ------------------------------



  • 3.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-22-2025 07:57 PM

    You're quite welcome!



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 4.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-22-2025 02:48 PM
      |   view attached

    I've attached the slides from the AI webinar. Here is the link to the recording: https://www.pathlms.com/aace/courses/9229/video_presentations/337206



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------

    Attachment(s)

    pdf
    AACE AI Presentation.pdf   2.84 MB 1 version


  • 5.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-22-2025 07:31 PM

    Hi Lance,

    Thanks very much for your presentation yesterday, it was informative, engaging and to the point, I only wish it went for longer :)

    Best Regards,

    Lorne



    ------------------------------
    Lorne Bussell
    Functional Lead Planner
    Alcoa
    Booragoon
    lorne.bussell@alcoa.com
    ------------------------------



  • 6.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-22-2025 07:58 PM

    Thank you... I can talk for hours on this stuff... and I can talk for days on non-related matters as well!!! 



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 7.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-23-2025 03:04 PM

    For those of you that missed this (excellent) presentation, here is a link to the recording (free to AACE members and non-members both):
    Archived Webinar: Project Controls Reimagined: Unlocking the Power of AI [January 21, 2025]



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------



  • 8.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 09:57 AM

    Thanks for sharing. I am so happy to see TCM being taken to the next level (the renAIssance). Next year will be the 20th anniversary of the TCM Framework (and AACE membership maybe hitting 10K) so it is ripe for the analytics transition hitting us all. Thanks for your leadership on this Lance!



    ------------------------------
    John Hollmann
    Owner
    Validation Estimating LLC
    Ashburn
    jhollmann@validest.com
    ------------------------------



  • 9.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 03:58 PM

    Thanks, John. We still have some work to do! Analytics (algebra and stats) have always been there; we just were not using them. To be honest, my findings indicate we still struggle with this. Case in point: most people don't use the advanced analytical features in Excel, like what-if analysis, power pivot, the formula tab, which includes Python, and the 'analyze data' button. What I've also learned on my journey is that we need to do better at collecting data and to the right level, as we've been stating for over 25 years (you a lot longer). More to come on this...

    Regarding the TCM, when we meet to collaborate on the 3rd edition in Anaheim, data analytics and AI will be added as an enabling process. 

    Cheers,

    Lance



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 10.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-25-2025 09:06 AM

    Lance, I will confess that at this point in my career my momentum is fading in trying to keep on top of it all the nitty-gritty, including what you now suggesting are basics (e.g., Python in Excel). But I hope I will have something to offer to the conversation until I am old enough to be President ;)



    ------------------------------
    John Hollmann
    Owner
    Validation Estimating LLC
    Ashburn
    jhollmann@validest.com
    ------------------------------



  • 11.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-27-2025 01:44 PM

    Hi John,

    Regarding Excel, I am not suggesting that what I discussed earlier is the basics (e.g., Python in Excel). I am suggesting that people start using these features, add-ons, and tools (new to the Excel platform) to further develop their skill set. People are so gung-ho about wanting to learn AI when they can develop these capabilities using their existing software. If people can understand linear regression and multivariant regression using Excel, they will have a deeper understanding of how Python can be used. The power of Python is using neural networks (deep learning) and feature engineering (via ontologies, knowledge graphs, semantic layering, classification and labeling, etc.) to complete multivariant regression analysis. This allows us to find the hidden gems!

    Lastly, what you and other experienced people bring to the table is the validation of the findings of the testing and training data... You make sense of a nonsense-type world ;-)...

    Lance



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 12.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-28-2025 11:18 AM

    Not so sure about Python in Excel, but PowerQuery is a game changer for sure. And simple stuff in Power Query is, well, simple! Worth a YouTube video or two to get familiar.



    ------------------------------
    Eric Christoph
    Partner
    Leesburg
    eric@transformativems.com
    ------------------------------



  • 13.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-29-2025 11:37 AM

    Ive found power query to be more useful than macros in some situations and it's helped me with setting up preliminary costing distributions.



    ------------------------------
    Craig Stadnyk
    Scheduler
    ------------------------------



  • 14.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 09:58 AM

    Christian, will the public link work if posted in LinkedIn?



    ------------------------------
    John Hollmann
    Owner
    Validation Estimating LLC
    Ashburn
    jhollmann@validest.com
    ------------------------------



  • 15.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 12:33 PM

    Great webinar!

    As an expert in both Project Controls and Data Science/AI, I am happy to get involved at the TS and help moving the things forward.

    Anyone interested in running some POCs, please reach out. Happy to discuss the detailed solutions I am working at.



    ------------------------------
    Joao Dias, MSc, PGDip, PSP, PMI-SP

    ------------------------------



  • 16.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 03:05 PM

    Thanks Joao,

    Hopefully, we can start developing some use cases and start solving some problems out there. Some colleagues and I will be presenting a use case on profit loss at this year's annual meeting... Exciting times...

    Lance



    ------------------------------
    Lance Stephenson
    Director of Operations
    AECOM
    Edmonton
    h.lance.stephenson@gmail.com
    ------------------------------



  • 17.  RE: Project Controls Reimagined: Unlocking the Power of AI

    Posted 01-24-2025 02:50 PM

    John,

    Yes, the link will work from anywhere.



    ------------------------------
    Christian Heller
    Director of Technical Guidance
    AACE International
    cheller@aacei.org
    ------------------------------