Georgia Stillwell, Head of Professional Services EMEA at ALICE Technologies, joined Open Analyst Call hosted by BuiltWorlds on October 18th.
Most risk management solutions used in construction today simply calculate the probability that a construction project will miss its original schedule, and then push the schedule by the required amount to account for the problems causing delays. Rather than fixing the root problem immediately, their attitude is: "We'll cross that bridge when we come to it."
Companies using ALICE to manage risk do so in a very different way. They think about the various kinds of delays that might occur and then use ALICE to simulate the cost and time impact of such delays. They can then revise the original construction schedules to account for these insights. This is a data-driven and solutions-oriented approach — one that doesn't just kick the can down the road but instead finds solutions in advance. The attitude in play here is "hope for the best...but plan for the worst."
Georgia explored the concept of generative risk mitigation, highlighting real-life examples to contextualize the topic and guided the audience through a presentation before transitioning to open discussion / Q&A.