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.
|Publication date||26 Aug 2022|
|Publication status||Published - 26 Aug 2022|
- Artificial Intelligence
- Project Management
- Project Leadership
- Cost overrun
- Cost Control