In construction, cost and schedule risks are inseparable. Our construction risk management and analysis software captures a more complete picture of your risks and incorporates detailed feedback from your team — providing you with a solid data set that predicts your risks with startling accuracy.
With InEight® Risk analysis software, you can run risk assessments using the same data that you use for planning, scheduling and cost analysis. Evaluate the probability of risk events such as third-party delays or unexpected labor shortages, and then analyze the potential impact to the schedule and budget.
Data Driven Risk Management
We use augmented intelligence and machine learning capabilities side-by-side with human intelligence. Populate the knowledge library with any file type of your choice, including Excel®, Microsoft® Project, Primavera P6® and more. Our software will sift through the data and surface recommendations. You can accept or reject these recommendations, and the software will surface more accurate suggestions with each new project. Add risks manually or use benchmarking to see what’s happened on past projects.
Increase your confidence to move forward on a project with data-driven risk analysis software.
Work More Confidently with Construction Risk Management Software
See how certain risks impact your schedule and budget and get ahead of costly issues before they happen. Our unified approach to construction risk management, cost and schedule allows you to work more efficiently on every construction project.
See the impact of risk over time with a library of risk history. Run analyses to see most likely scenarios and avoid costly overruns by building in contingency.
Use a single risk register for cost and scheduling. Invite experts to give their feedback directly, and work from living documents that improve with each new project.
Incorporate risks into your budget with user-friendly software. Communicate efficiently with external departments. Risk adjust your cost estimates for improved cash flow.
Gain increased visibility into project risks based on concrete data and individual feedback. Know what to expect and have more confidence in project timelines.
6 Steps for Successful
Construction risk management
With InEight construction risk management software, you get the power of sophisticated algorithms without having to spend more time to get there. Simply input data for each project and gather feedback from relevant personnel.
Create a schedule and cost breakdown structure for an active or potential project. Start your risk assessment by capturing feedback from all the relevant third parties.
Invite relevant personnel to review their section of the schedule, budget, materials or equipment. Send out a digital invite to each individual from InEight Document.
Each individual will provide feedback on the uncertainty and discrete risks of the project. Gather as much feedback as possible to gain a better idea of the strength of consensus.
Review the schedule to identify areas of low consensus. Gather more feedback or edit as necessary. The software will generate a 3-point estimate, weighting the distribution evenly.
Set your preferred project certainty target, somewhere between 1 and 100. The software will generate your risk exposure and the required contingency needed to meet your target.
Review your reports and analyze the impact that risk events may have on individual line items. Make necessary adjustments to mitigate high-risk events.