Project management software company InEight Inc. announced recent enhancements to its planning, scheduling and risk offering to deliver what it called a “more intelligent and multidimensional planning solution” for capital projects. A new analytics toolbox will help remove risk from the bottom line for project managers, schedulers, planners and estimators.
InEight Planning, Scheduling and Risk uses AI and data from previous projects to identify threats in current projects and recommend risk mitigation strategies. The solution’s intuitive interface enables a seamless user experience that delivers clear and actionable insights on risk management, according to the company.
“We’re democratizing access to world-class risk assessment by building the most complete risk analysis and mitigation capabilities on the market and making them easy enough for anyone to use,” said Nathan St. John, head of product, scheduling and risk for InEight. “Risks are not static. They move with the ebbs and flows of the project, so getting an accurate picture of total risk exposure across an entire capital project in real time has been something reserved for organizations with big budgets and a dedicated risk expert on staff.
“InEight offers a cloud-based solution that continuously monitors total project risk, finds threats and then takes the extra step of surfacing and prioritizing mitigation options.”
The company said as risk analysis matures in the capital projects space, contractors who can use data to prove a higher chance of meeting their proposed budget and schedule — even if at a slightly higher price tag — will see more winning bids and improved performance.
