Service Needs

Reference No.

N-0007

Title

Building an innovative data bank of construction project costs

Business Needs / Challenges

Cost information of construction projects are generally in various forms of different details generated at different stages of projects. There exists a need to consolidate those cost information (e.g. project cost analysis, BQ rates, interim payments, final account data, etc.) at one-stop shop that facilitates application in future estimates, analysis of cost trends, cash flow forecast, vetting of tender prices, valuation of variations, etc. by Big Data Analysis, Artificial Intelligence or other innovative algorithms.

Application Areas

Infrastructure
Construction industry

Expected Outcomes

Recommendation on building an innovative data bank that fits our needs, including the required methodology, roadmap for development, the associated budget, etc. for forward planning.

Technologies to be Used

Artificial Intelligence (AI)
Data Analytics
Predictive Analytics