for risk analysis. They also help in enhancing engineering management whereby owners can see design changes in real time and understand their impact on the project schedule and cost so as to decide whether to retain the design or look for alternatives.The cost of key renewable construction materials rose sharply between 2019 and 2020. This highlights the critical nature of close monitoring and management of cost and schedule during the design and construction phase.
The project controls system can also help address the challenge with disconnected point solutions. While point solutions may be highly efficient in niche functions, regular introduction of new point solutions can result in a medley of technologies and data silos from different vendors, resulting in compatibility and integration issues. Besides, projects can run into data sharing challenges due to lack of data standardization and the absence of a consistent framework.
Solutions such as project controls systems, when adopted as an integrated platform, help owners and contractors alike meet their strategic objectives and manage risks effectively. The power of this connected data made available through platforms, which integrate the various workflows and processes of a project, allows owners to gain superior visibility across the entire life cycle of their asset, ensuring more successful project outcomes now and in the future.
Source: News Formal (newsformal.com)
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