Advances in artificial intelligence and machine learning occur daily, and the accuracy and sophistication of prediction algorithms have grown exponentially over the past 10 years. These tools are being used across industries to better understand everything from large bodies of text to human emotions and behaviors. Capital projects represent a ripe landscape for these sciences, but these tools require a unique set of skills that is not present on the typical project team.

IPA’s Digitalization team knows both data science and projects, and we have a long history of using machine learning algorithms to accurately predict project outcomes. Using your project data and IPA’s experience, our team of researchers and data scientists can develop a host of predictive models to better forecast your project risks.

Many companies are expanding their project organizations to include data scientists, and integrating these data scientists into capital projects presents a challenge. These industries rely on deep technical knowledge that is not easily conveyed outside of their trade. IPA knows both industries, and we have a long history of translating the fundamentals of capital projects through a data lens. For companies looking to expand into data science, IPA’s Digitalization team can facilitate the organizational changes and provide guidance and training to bridge the informational gap between data science and capital project fundamentals.