InEight Inc.'s latest installment of software technology innovations focus on automated earned value management (EVM) metrics to accurately track project progress, improve oversight across project lifecycles and boost accurate predictive scheduling.
In the wake of COVID-19 related supply chain disruption and skills shortages, the latest technology innovations harness automation and smart data to help capital project owners and contractors anticipate and avert delays or budget overruns. Automated, auditable EVM metrics will accurately track real-time progress across cost and schedule, to support transparent, agile construction.
Augmented intelligence tools and a knowledge library will drive highly accurate project schedules, while additional enhancements will make it even easier for customers to bring all of their program and project data together, enabling unparalleled controls and operational confidence to project stakeholders.
“COVID-19 affected delivery times and costs for raw materials. Combined with skills shortages, this has fast-forwarded the digitalisation of construction as the industry seeks greater transparency and control over costs and schedules,” said Brad Barth, Chief Product Officer at InEight.
“These technologies will reduce delays and budget overruns by allowing projects to accurately benchmark progress against plans, expedite deliveries from material vendors, analyse project performance in real-time and adjust schedules based on robust forecasting.
"Smart data and automation will enable project owners to adjust to rapid fluctuations in costs and risks caused by supply chain disruption and skills shortages. Crucially, we are opening up the murky ‘black box’ metrics behind EVM through auditable and traceable metrics that accurately map project progress against plans.”
InEight has also formed a strategic agreement with Felix Group Holdings, a global company operating a cloud-based enterprise SaaS procurement management platform and vendor marketplace, further enhancing InEight’s project management capabilities for project owners and contractors across planning, construction, and turnover phases.
Felix’s platform adds comprehensive procurement and vendor management capabilities to InEight’s project controls platform which enable stakeholders a deeper supply chain understanding by leveraging up to date vendor insights during the estimating process. The integration will provide a single source of truth for vendor libraries, reducing administration costs and time on manual updates.
Co-Founder and CEO of Felix, Mike Davis, said: "Our technologies are highly complementary and this new significant agreement with InEight is a great endorsement of our best of breed vendor management and procurement technology platform which will allow InEight customers to reduce their risk when it comes to supply chain management. We both share a deep value for productivity and making life easier for project teams – essentially helping them build a better way.”
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