Thanks for the reply Jawahar. The descriptions on the Oracle website look impressive. Other than P6, I'm not really familiar with the other Oracle products but will follow up on their material and Suffolk's progress. Suffolk had two people on the attendee list - Blake Abbenante and Joshua Weyand. I think Josh spoke at a sesson. It appears Suffolk is ahead of the curve on data metrics (and AI).
Original Message:
Sent: 07-04-2023 10:41 PM
From: Jawahar Maran
Subject: AI in Analytics and Risk
Hi Paul,
Thanks for sharing the valuable information!
Indeed, companies are now piloting and implementing machine learning applications (part of AI) in project controls. At my company, we piloted an application a few years ago that utilizes machine learning algorithms to predict schedule risks. The predictions closely resembled the output of Monte Carlo simulations, including p-values and risk ratings. Although it was intuitive, it lacked the specific intent of project controls or construction operations, leaning more towards data science terminology. Consequently, we partnered with the company to enhance the product.
Recently, we started piloting Oracle CIC (Construction Intelligence Cloud), an add-on to Oracle EPPM offered at a discounted price. You can check out the tool's capabilities using the link below. While I haven't seen the final product yet, I assume it will closely resemble the output of Monte Carlo simulations.
Link to Oracle Construction Intelligence Cloud
Regarding your point, it's crucial for AACE, now more than ever, to take the lead in project controls and collaborate with established and startup AI companies that provide project control-based services in order to educate and foster growth
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Jawahar Maran CCP PSP
Planning/Scheduling Analytics Manager
Suffolk Construction
Boston MA
(973) 735-7336
JAMARAN@SUFFOLK.COM
Original Message:
Sent: 07-04-2023 02:42 PM
From: Paul Levin
Subject: AI in Analytics and Risk
I was surprised and excited to see AI/Chatbot recently discussed in the Data Science community and equally surprised to not see any discussion at the Decision & Risk committee. No offense to the Risk committee please, this seems to be a reflection of the industry as a whole at the moment.
I just returned from a Construction Analytics conference in Scottsdale where many presentations covered data metrics, often focusing on ROI, but also touching on elements of risk, and the impending influence of AI. Most of the audience were construction companies, many using established vendors for cost and schedule control. One of the themes of the event focused on analyzing other data to uncover trends and risks; this included documents, submittals, RFIs, safety observations and incidents, etc. Another theme involved using AI to improve estimating and to uncover other factors in job costs that the job cost systems aren't designed to look at. On the same subject, I would consider Monte Carlo simulations of CPM schedule a text book use of analytics, but no one mentioned this at the conference!
My point in bringing this up here is that AACEI, the authority on all things project controls, should step up its engagement of AI and how it can best be used to enhance what we do, as well as point out what it cannot do and any risks involved in its use thereof. Additionally, if anyone here is already engaged in deploying AI and/or ChatGPT in their work in these areas, I would love to hear from you, especially if you would like to write about your experiences. I am in the process of launching a newsletter on AI in the construction industry and am looking for knowledgeable content. Also a good chance to expand AACEI exposure.
Thanks.
Paul Levin, PSP Emeritus
Thank you.
(Posted to Data Science and Decision & RIsk Committees)
Paul Levin, PSP Emeritus
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Paul Levin, PSP Emeritus
Rockville MD
wplevin@gmail.com
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