AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects

Bent Flyvbjerg; Alexander Budzier; Ricky LAU Chun-kit; Karlene Agard; Andreas Leed

AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects

Bent Flyvbjerg, Alexander Budzier, Ricky LAU Chun-kit, Karlene Agard, Andreas Leed

Research output: Contribution to conference - NOT published in proceeding or journal › Paper › Research › peer-review

Abstract

Hong Kong has a large volume of construction works currently taking place; this will increase further and faster in the coming years. Hong Kong’s projects typically come in 15% under budget. However, ten per cent of local projects over-run their budgets, with a total overspend of eight percent. Some flagship projects have over-run their budgets and completion dates, causing public embarrassment. It is considered crucial to get these cost and schedule estimates under control. We investigated whether Artificial Intelligence (AI) can play a part in accurately predicting these outcomes and in identifying ahead of time when a project is going off track, allowing early intervention.

Original language	English
Publication date	26 Aug 2022
Publication status	Published - 26 Aug 2022

Keywords

AI
Artificial Intelligence
Project Management
Project Leadership
Cost overrun
Cost Control
Prediction

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https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4192906

Cite this

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title = "AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects",

abstract = "Hong Kong has a large volume of construction works currently taking place; this will increase further and faster in the coming years. Hong Kong{\textquoteright}s projects typically come in 15% under budget. However, ten per cent of local projects over-run their budgets, with a total overspend of eight percent. Some flagship projects have over-run their budgets and completion dates, causing public embarrassment. It is considered crucial to get these cost and schedule estimates under control. We investigated whether Artificial Intelligence (AI) can play a part in accurately predicting these outcomes and in identifying ahead of time when a project is going off track, allowing early intervention.",

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author = "Bent Flyvbjerg and Alexander Budzier and Chun-kit, {Ricky LAU} and Karlene Agard and Andreas Leed",

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T1 - AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects

AU - Flyvbjerg, Bent

AU - Budzier, Alexander

AU - Chun-kit, Ricky LAU

AU - Agard, Karlene

AU - Leed, Andreas

PY - 2022/8/26

Y1 - 2022/8/26

N2 - Hong Kong has a large volume of construction works currently taking place; this will increase further and faster in the coming years. Hong Kong’s projects typically come in 15% under budget. However, ten per cent of local projects over-run their budgets, with a total overspend of eight percent. Some flagship projects have over-run their budgets and completion dates, causing public embarrassment. It is considered crucial to get these cost and schedule estimates under control. We investigated whether Artificial Intelligence (AI) can play a part in accurately predicting these outcomes and in identifying ahead of time when a project is going off track, allowing early intervention.

AB - Hong Kong has a large volume of construction works currently taking place; this will increase further and faster in the coming years. Hong Kong’s projects typically come in 15% under budget. However, ten per cent of local projects over-run their budgets, with a total overspend of eight percent. Some flagship projects have over-run their budgets and completion dates, causing public embarrassment. It is considered crucial to get these cost and schedule estimates under control. We investigated whether Artificial Intelligence (AI) can play a part in accurately predicting these outcomes and in identifying ahead of time when a project is going off track, allowing early intervention.

KW - AI

KW - Artificial Intelligence

KW - Project Management

KW - Project Leadership

KW - Cost overrun

KW - Cost Control

KW - Prediction

KW - AI

KW - Artificial Intelligence

KW - Project Management

KW - Project Leadership

KW - Cost overrun

KW - Cost Control

KW - Prediction

UR - https://dx.doi.org/10.2139/ssrn.4192906

M3 - Paper

ER -

AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects

Abstract

Keywords

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