InEight Delivers the Transformational Power of Collaborative Scheduling
SCOTTSDALE, Ariz. – InEight, a global leader in construction capital project management software, is proud to unveil the relaunch of InEight Schedule. As the construction industry faces increasing uncertainty and project complexity, this release marks a significant leap forward in collaborative construction planning, empowering teams to tackle complex projects, seamlessly manage risk, and foster structured collaboration for precise, validated schedules.
Navigating The Stakes: A $6 Trillion Insight
As capital projects grapple with chronic overruns, global capital spending will hit $82 trillion from 2020 to 2025, according to a McKinsey[1] analysis. Applying a 10 percent discount rate and a 15 percent initial internal rate of return (IRR) presents a pivotal finding; a mere one-year delay in a portfolio’s revenue triggers a staggering $6 trillion loss, translating to a nearly 50 percent drop in net present value (NPV[2]) or economic worth of the projects. Urgent action is needed to address chronic schedule and budget overruns to preserve the financial health and viability of projects.
Collaboration Is Key: Insights From InEight Research
A recent report from InEight emphasizes the transformative power of collaborative methodologies, signaling a need for a parallel technological leap. Respondents highlight real-time project status (89%), instant stakeholder communication (88%), and improved risk identification (86%) as crucial factors in improving project outcomes.
Innovative Solutions For Today’s Challenges
In response to these market demands, InEight Schedule provides an innovative market-leading solution. The relaunch comes at a crucial time, as leading construction firms seek improved solutions to safeguard project value and navigate the increasing complexities of global capital project contracting. The product team has re-engineered capital construction project planning, fostering certainty and accountability. By providing tools to break free from traditional silos, InEight Schedule harnesses the expertise of seasoned teams to transform scheduling into a collaborative process.
InEight Schedule revolutionizes project management through its user-friendly interface, seamlessly integrating team input with AI-driven insights. This synergy creates practical, reliable schedules that serve as effective communication tools. Teams gain access to powerful features, including the collaborative mark-up tool for transparent input collection, modeling of alternative scenarios, integrated look-ahead schedules, breach identification alerts, smart planning rooted in historical performance, and digital whiteboards. All these capabilities are effortlessly accessible on a secure and user-friendly cloud platform, meticulously crafted to enhance communication and streamline operational processes.
In addition, unlike dated solutions that demand extensive training, InEight Schedule is easy to use while accommodating the complexities of capital projects. InEight Schedule allows any team member, such as a project manager or foreman, to confidently create accurate schedules with the help of templates, intuitive tools, and even embedded risk management capabilities. Moreover, its user-friendly interface will help attract diverse talent to leverage AI and technology, addressing the industry’s labor gap with efficiency and innovation.
Nate St. John, Vice President of Scheduling & Risk Management at InEight, urges:
“The time is now to address the widespread, chronic issues of poor planning and scheduling. Only a schedule that has been opened for collaboration – validated amongst stakeholders, experts, and organizational standards can become the project plan. It is precisely this knowledge-driven plan that will uncover the keys to success, leading to stronger alignment and ultimately better project outcomes.”
Learn more about InEight Schedule and its transformative capabilities. Schedule a demo today to experience the future of collaborative construction planning.
[1] Control capital project duration—and cost—with schedule optimization | McKinsey
[2] Net present value is a financial metric used to evaluate the profitability of an investment by calculating the present value of expected cash flows. A 50 percent reduction in NPV indicates a significant decline in the overall economic worth of the projects. This loss is a direct consequence of the delay, which hinders the generation of expected revenue and return on investment.