Capital & Contract Management

Manage contract workflows from start to finish, from contractor/supplier selection through contract closeout including the related buyouts, pay requests and change orders. With our capital and contract management solutions, you can facilitate contracts and changes throughout the project, resulting in a 20% reduction in turnaround time.

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Connected Analytics

Make real-time decisions as you gain visibility into metrics, KPIs and trends, driving continuity in operations.

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Document Management

Our document management solution helps you streamline the capture, review, management and distribution of project documents. Because all your project documentation is stored in a centralized repository, you can reduce processing time by 30%.

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Estimating & Project Cost Management

Our project cost management solutions help you create more accurate and timely project estimates, increase your forecasting accuracy, and improve the anticipated project ROI.

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Field Execution Management

Manage work packages and daily crew plans to deliver and capture predictable results in the field, reducing project costs 10%.

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Integrated Project Controls Platform

Only InEight provides a complete portfolio of capital project management software that supports enterprise-wide digital transformation.

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Planning, Scheduling & Risk

Collaboratively create and risk-adjust plans to achieve more than 75% confidence in project execution.

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Safety, Quality & Commissioning

Capture and analyze safety, compliance and quality data directly from the field, reducing rework by 10%.

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Virtual Design & Construction

Use an aggregated 3D model as a common data environment, increasing clash resolution efficiency by more than 200%

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Field Execution With an Eye
Toward Risk

Project history is emerging as a powerful force to help mitigate risk and present organisations with a clearer picture of what went right, and wrong, on any given project. This data-rich history helps make sure you can repeat good experiences and avoid the poor ones.

In this webinar, InEight’s Matthew Comins and Matt Macaras dive deep into how alignment between our schedules and the execution plans we use to actually perform work increase the chance of achieving on-time delivery. They also illustrate that by combining integrated risk identification, impact assessment and mitigation with this process, you can deliver better planning, productivity and constraint-free execution in the field.

 

Originally aired on 02/09/2020

37 Min

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Transcript

Matt Comins:
Good morning, afternoon or evening, wherever you may be, and welcome everybody to this InEight session on Field Execution Management With an Eye Toward Risk. My name is Matt Comins, I’ll be your moderator for this session. I’ve been in the project management software industry for the last 20 years and for the last year I’ve been here with the team at InEight. This is the next in a series of overviews that will give you a glimpse into the innovations that InEight is developing to help provide companies with a greater level of project certainty. I’m joined by my colleague from the west and the biggest Seattle Seahawks fan I know, one of my favorite solution architects, Mr. Matt Macaras. Why don’t you tell everyone a little bit about yourself and what we’re going to be talking about today?

Matt Macaras:
Great, thanks Matt. So as Matt said, my name is Matt Macaras and my background is actually not in software at all. So I spent more than 11 years working for one of North America’s largest construction and engineering firms, where I built everything from power plants, coal and gas fire to iron ore mines to LNG facilities, a couple of roads on the side as well. I’ve been with InEight for a little over a year, and the solutions that InEight provides are things that I’ve actually used in the field. Today we’ll be talking about how we actually align the schedule and the planning process with the execution process to achieve project certainty.

Matt Comins:
All right. So Matt and I thought we should set the scene for everyone and give you some background on the InEight project controls platform. The InEight platform is modular and made up of multiple capabilities that span the entire project life cycle from early pre planning and estimating all the way through to handover and commissioning. Our philosophy is that each of these capabilities needs to be able to stand on their own, meaning they need to provide project value to the teams, and there must be a tangible benefit to adopting them. Apart from these broad range of capabilities. I think what our clients are really excited about is that each of these modules can leverage our platform’s connected data schema. This means organizations are able to build out all or even just certain capabilities that they need, whether it’s document control or contract management or change management, for example, to address the bottlenecks that they have in their projects.

Matt Comins:
This connected data schema means you don’t have to integrate or use Excel or manually manipulate data between multiple vendors systems with different coding structures and permissions and licensings and that whole quagmire. What the InEight platform does is it gives you better information and visibility across multiple dimensions of your project in real time, and also in context, which can be really valuable in understanding what the information is really telling you. Because it’s all connected, there’s an audit trail. So you improve governance, you reduce risk, and it can also help you when you’re defending yourself against claims. So Matt, why don’t you take us through, just at a high level, each of these modules?

Matt Macaras:
Great, thanks Matt. So as Matt said, the InEight platform has been designed to manage projects for the whole project life cycle, starting in the estimated pre-concept and estimating phase where we’re able to build up our estimates from top down, bottom up, assign resources, equipment, get subcontract quotes, subcontract cost, bring that into the estimate. Then at the push of a button, roll that into the control budget functionality, where we can build our forecasts, manage the cost on our project and connect into the other portions of the InEight platform. We also have visualization through InEight model where we provide a collaboration environment, where we can aggregate all models for the project in one environment, visually report on all the information provided by the platform and as needed for the project and also run collaboration, coordination and constructability reviews right through the solution itself.

Matt Macaras:
Our scheduling capability uses artificial intelligence, risk intelligence, and human intelligence to really provide you with project certainty around the schedule, by leveraging your best practice schedules and your knowledge library to build your schedules. We also allow for managing contracts both up and down. So managing your contractors, your subcontractors, and their whole process of bringing them on board, executing those contracts in terms of variations, payments, supporting documentation, and even into contract close out. As we approve payments, as we approve variations, all that information automatically passes over into our control budget to update our control budget in terms of percent complete and actual costs.

Matt Macaras:
We also manage the overall project issues registers and change registers, where we can take variations from our contracts, variations or issues that have been generated from the field, manage those all in one spot and push those around from just an overall issue with which may not have merit to a potential change, and then an approved change, which can automatically affect our control budget as required.

Matt Macaras:
Our document management capabilities are very comprehensive document management and document control, as well as correspondence management. It provides a single source of truth for all the information for your projects and provides documentation to the rest of the platform, such as contracts, such as our work packages, our work plans. Allows documents to be referenced and included within our modeling capabilities so that when we click on a portion of a model, we can see the control documents associated with it. We also manage the field execution side of things through building out detailed work packages, work plans, so that we know what we’re going to build when we’re going to build it and then taking daily plans and leveraging those work packages to actually execute in the field. As we claim time and quantities and progress, we automatically update our control budget with our percent completes, as well as the actual costs that’s been realized for that day.

Matt Macaras:
The whole platform was able to be reported upon using our standard built-in tabular reports, but also we have full featured Microsoft Power BI built right into the platform so that all the information in the InEight platform is available in our live dashboard. So as we see updates happen or affect change within other portions of the platform, it automatically shows in our dashboards so you’re not waiting a week or a month for reports to be generated to tell you what those changes are.

Matt Macaras:
We also manage the health, safety and environment and quality side of things as well. We’re able to take and do the whole QA, QC and completions process through very granular detailed workflows, manage that entire process, connect it back into our modeling environment to create that digital twin, and then be able to manage our HSE incidents, audits, compliance audits, and have all of that information available and reportable and store right from within our document management solution. So today what we’re actually going to be focusing on is really how we align and we connect our planning capabilities, our scheduling capabilities with our execution capabilities so that what we’re able to do is really achieve on time delivery, on budget delivery and make sure that you’re going to be certain that that is going to be what you’re going to get.

Matt Macaras:
We do that by bringing in risks, leveraging best practice knowledge libraries to generate schedules based on what has been achieved in the past, being able to execute and mark up those schedules in a group instead of having to do it individually. Integrating and connecting those plans and schedules to our three week schedules to our work packages, our work plans and our daily plans to ensure that what we’re actually building in the field is what’s actually needed and required as per the schedule. Then executing those daily plans and capturing all of the information on a daily basis that can then be fed back into the schedule and to that knowledge library,

Matt Macaras:
Matt, back to you.

Matt Comins:
All right, before we get started, I just wanted to say that we will be taking questions throughout the entire session. So if you’ve got a question, there’s a panel on the right hand side of your screen. Yeah. Put the questions in there and we’ll get to them at the end. All right, let’s get started.

Matt Macaras:
Okay. Thanks Matt. So let’s start at the beginning of a project or let’s start at the beginning of an activity. So we’re going to begin building our schedule with our past risks in mind. So typically the way schedules have been built in the past is you start with a blank sheet, you open up a new project, it’s a blank piece of paper, there’s nothing there. Then what you do is you go in and you build it out. You add in high level tasks, you add in activities, you build in the logic between those tests and activities to build out your complete CPM. We can see a CPM here that’s been filtered just for the critical path, but you define that sequence of activities all from scratch. You add in any applicable milestones that may be from your contract, or maybe you add in milestones you need to hit in order to achieve your critical path.

Matt Macaras:
Then you add in your working calendar, whether you’re working five day weeks, 13 day fortnights, different shifts, holidays, and then you build your resources out, tying in equipment, tying in labor so that you’ve got a fully resourced and cost loaded schedule. This is a very time consuming process. But what if you didn’t actually have to start from scratch every time? What if we were actually able to leverage artificial intelligence to suggest activities and suggest sequencing based on your best practice schedules, based on your experience to leverage a knowledge library that, based on what you’ve done in the past, is able to automatically generate new schedules for new projects based on a set of criteria that you determine, and then have that be able to generate even more detail?

Matt Macaras:
So here we’ve generated a brand new schedule through InEight schedule based on our knowledge library. As you can see, this is very, very high level, but what the system is doing is it’s continually suggesting improvements to the schedule based on what our best practice schedules and our knowledge library have in them, and it ranks those schedules as to, “Hey, this is the sub-net or this is the additional stuff that we want to add to the schedule based on what you’ve done in the past.” So then what we’re able to do is add in those subnets or add in those individual activities that the knowledge library is suggesting, and be able to take that not only from this high level schedule, but be able to import that sub-net and bring in a fully resource loaded, a fully logic tied schedule with all of the subsequent activities that you’ve done before and are applicable to this project.

Matt Macaras:
From there, what we’re also able to do is if we can bring in our activities, if we can bring in our resources, why can’t we then bring in smart suggestions for opportunities and risks? So within the InEight platform, we’re able to digest and store risk activities and the opportunities and events against individual items of our schedule and all of those risk items, all of those events are stored in that knowledge library against the applicable types of schedule activities. Or if we look at this one, we can see our structure activity or our structure heading has multiple events tied to it. There’s an opportunity about bringing in additional engineering support. There’s risks about site access delays, risks about new types of engineering. We’re able to bring in all of those risk events from our press schedules that have either happened or were risks that were mitigated on those schedules and automatically import those and have those exist in our schedule to give us a starting point.

Matt Macaras:
What we’re then able to do with those risks tied to our schedule, whether it’s the schedule as a whole or individual activities in our schedule, is we’re able to data mine. We’re able to start risk adjusting our schedule to find out where we’re going to end up. Based on the risks in our schedule, are we going to end up on November 1st, 2021? Or if we want 100% certainty, we can say, “Look, we’re going to be done on the 11th of February, 2022.” We’re able to really determine where it is we’re likely to end up, what is the percentage of likelihood that we’re going to end up on a certain date.

Matt Macaras:
Then we’re able to take that and turn it on its side and find out what actual risks, what actual events, what uncertainty from our markups, which we’ll talk about in a second, are impacting our schedule the most so that we can start to mitigate those risks, those events, the uncertainty that’s providing the biggest impact on our schedule so that we can start managing and mitigating risks by exception. So obviously focus on the ones that are impacting the schedule the most and slowly work our way down so we’re getting to the ones that are impacting our schedule the least, so that we’re ensuring that we’re able to continue executing work the way we want to and getting rid of those risks.

Matt Macaras:
So building a schedule is great and building it with being able to automatically bring in resources, bring in risk events and be able to risk analyze that schedule is fantastic, but there’s always a review process in scheduling. Schedules are live documents throughout the course of a project. How do we actually review those schedules? Well, as Henry Ford once said, “Coming together is the beginning, staying together is progress, and working together is success.” So while I was in the field and I was running work, when I needed to update the CPM schedule, what I would do is I would either get an email from my planner who had sent me a PDF copy of the schedule, or I’d get a printed out copy of the schedule dropped on my desk. I will then mark it up and either go sit down with that planner or scheduler and watch them and help them make the changes in the overall project schedule, or I drop it on their desk and go about my daily business.

Matt Macaras:
What this does is it now means that your schedule review process is siloed. There’s no collaboration behind it. If you do have scheduled meetings and collaboration meetings, at least my experience was, is they were more about reviewing the schedule and coming up with, “Okay, what does everyone think about it?” Not actually coming to a consensus. So with InEight schedule, what we’re able to do is take our artificial intelligence generated schedule, push it into a review cycle. We’re able to then send that review cycle out to attain whether it’s the project team for a specific contractor or the project team for the client, or maybe if it’s an all-encompassing schedule review that involves the client, the contractor and the subcontractor so that everyone is collaborating in that one spot so that everyone is making sure that the final schedule is going to be the schedule that works for the project.

Matt Macaras:
It’s moving away from silo-based planning towards consensus based planning. So, as I mentioned, we can send it out to the review team, but that review team doesn’t necessarily need to be within your organization or within that project. If you’ve got a subject matter expert that sits in the head office, let’s say a mining project, and he’s the expert or she’s the expert on crushers or wet scrubbers, you can actually include them in the review process so that you’re able to get their expert opinion, their expert advice on what needs to happen in your schedule. It may be, yep, your schedule looks fantastic. Or it may be how you can reduce durations here or some things need to be increased, or maybe you’re missing activities. It’s really moving towards that consensus based planning so that you’re getting all the input from the entire team to ensure that the schedule is going to be the best that it can be. Then your planning sessions now become less about actually getting everyone’s feedback, but analyzing that feedback and deciding what is the best path forward.

Matt Macaras:
So this is what this looks like within InEight schedule. We’re able to generate our plans, send it out for review and markup, and then it’s literally coming along and clicking, “Yeah, we think the durations need to be longer. They’re okay. They need to be shorter,” or coming in and typing out what we think the remaining duration needs to be. It’s that simple. Then once everyone’s done and they click, “We’ve completed our review,” it goes into a team member markup section where we can see who’s marked up in the review process, the types of markups they’ve made, whether or not Allen here has said, “Well, look, we actually need to add quite a bit of time to the schedule in certain sections.” 26% of his responses are saying, “Oh, these are too long, we need to shorten them up,” but it’s starting to gather that consensus.

Matt Macaras:
Then what we’re able to do is bring in all of that information. So our schedule was generated using artificial intelligence and the knowledge library of your best practice schedules. What we’re then able to do is take that, review it and add in our line by line analysis of that schedule. So adding in the human intelligence, the human factor to it, because there are things that may be happening in the field, or there may be circumstances on this project that didn’t exist in the previous ones. That’s where adding in that human intelligence lets you add in that extra dimension. Then we’re able to compare that, again, continuously with the artificial intelligence. To be able to say it’s going to continue suggesting, “Okay, well, you’ve added in this, or you’ve tweaked this. Maybe these are some tweaks that need to be made in other spots.”

Matt Macaras:
Then we’re able to bring in that risk intelligence, that risk adjustment to give you a true picture as to what’s going on in your schedule, what’s going on in your project, where are you at, where are you likely to end up and how you can prevent the schedule from blowing out?

Matt Macaras:
Now that’s fantastic as well, but how does this now move into the execution side of things? So traditionally the way projects have been working is you build your CPM schedule, whether it’s one of the main scheduling solutions, you build it in Excel, you build a CPM schedule. You then move into short interval planning, which can come in the form of whiteboards with sticky notes that say, “Okay, these are the resources. We can move these activities around.” Or what I used to do is I used to grab a schedule pad and I would work out my three week schedule or I’d open up Excel and build my three week schedule while looking at my CPM. But it wasn’t necessarily in line with that. I could very easily move outside of that to do whatever I need to do, and I may not even have referenced my CPM schedule.

Matt Macaras:
Then from there we move into daily planning or we then build out and figure out, “Okay, what are we actually going to do tomorrow? Who’s going to do it. What are they going to do? When are they going to do it?” The problem with this approach is that none of these have been connected. As I mentioned, it was building a CPM schedule maybe in Primavera or Microsoft project, or even Excel on a extremely small project. Building out your three week schedule completely separate and then building out your daily plan completely separate with maybe some references in between.

Matt Macaras:
So when we’re importing and creating our schedule within InEight schedule and pulling from that knowledge library and that knowledge base, we’re actually able to build in resources and productivity. Now that’s nothing new. Everyone’s been able to do that for a long time, but where we take it as we allow integration into the work packaging process. So now our scheduling process is now in conjunction and aligned with our work packaging process. So we’re adding in those tasks, we’re adding in the resources, we’re adding in the actual performance. We’re really driving towards the integrated project controls where we can see time, costs, quantities, quality, safety, everything within the one spot where we affect change in one and we see how that change affects other portions of the project.

Matt Macaras:
Really, it’s enhancing that look ahead planning process because we’re taking our CPM, we’re further refining it in our three week, and because they’re connected, we now know that our three week 100% aligns with our CPM. Then pushing that down into our daily plan, we know that what we’re working on is in line with our CPM because we know our three week’s in line with our CPM. So everything’s connected and we know that we’re working on what we need to be to ensure that on time delivery.

Matt Macaras:
Because we’ve already risk adjusted our schedule, we’ve already had that consensus, that markup process, when we connect our schedule to our work packages, our work plans, our daily plans, those plans themselves are inheriting all of the risk analysis, all of the uncertainty analysis, all of the risk mitigation that we did in the scheduling process, our plans inherit all of that. So we get the start and finish dates as per the schedule with all of those factors turned on and analyzed, all of the activities within those work plans are then aligned to the overall project as well.

Matt Macaras:
So what we’ve done so far is we’ve built our plan and our schedule based on artificial intelligence. We’ve added in our human intelligence. Any additional factors that maybe didn’t exist on our previous projects, tweaked it as we needed to for the unique conditions of that project. We’ve built in that risk or that risk intelligence. So we’ve risk analyzed that schedule, and now we’re adding in that execution intelligence by connecting it to our work plans, connecting it to our work packages so that what we’re able to end up with is constraint free execution. We know that when we go execute the work, that we’re executing it when we need to. It’s been thought out very well. We’ve added in all the extra factors for that specific project. We know that all the risk items associated with that package of work have been addressed and identified so that when we actually go execute the work, we don’t have to keep thinking about those. And now we’ve added an execution, those detailed steps and the detailed planning.

Matt Macaras:
So we’ve aligned our schedule and our work package and our work plan. How do we actually execute? So as we saw before, up until now, it’s been a disconnected process. Your CPM didn’t talk to you three weeks schedules, your 90 day schedules, which didn’t necessarily have to talk to your daily plans. Well, with the InEight platform, what we’re able to do is take that CPM schedule and build it off of that knowledge library. We’re then able to build our three week and 90 day schedules in conjunction right within the same solution as our CPM schedule. So no longer are they disconnected. They’re actually built in conjunction with each other, and you know that what you’re actually planning to do is happening when it needs to be done as per the main schedule. Then from there, what we’re able to do is take that detailed three week schedule with those detailed steps and build out our daily plans, actually build out what it is we’re going to go do tomorrow.

Matt Macaras:
Then, because those are now connected, where, again, everything rolls up and down. So as we claim time and quantities, it all rolls back into our three week and then it all rolls back into our CPM for progress as well. Because we’re building our plans and it’s tied to execution, our schedule now has … we’re able to link that schedule to those work packages and work plans, actually plan what man hours we’re going to use, what our productivity rates are going to be, what quantities that we’re going to be claiming and know before we actually get to work. So we’re in the planning phase and we plan time and quantities, we know exactly what our productivity is going to be for the next day. We’ve planned our productivity. We know if we’re going to make money or lose money. We know if we’re going to be ahead of schedule or behind schedule before we even get to tomorrow to perform the work. So this is going to allow us to adjust our plan ahead of time to ensure that we’re actually doing what we need to, to achieve our schedule, to make our budget.

Matt Macaras:
Then when we actually go execute the work, we take and we capture that time. So we’ve planned our time. Now we just need to validate it or change it as necessary. We claim those actual quantities, and as soon as we’ve claimed our time and quantities, we immediately know if we have made money or lost money. Have we made schedule or not made schedule? Are we ahead or behind? So that what we can do is be proactive. We no longer now need to wait a week or two weeks or a month for reports to come out in order to find out how our productivity is, are we actually making budget, are we meeting our schedule? We know that that day so that we can be proactive and fix it for the next day if we’re behind. Or be proactive and say, “Hey, we did great today. We met or beat our budget. What can we do tomorrow to improve and get even better?”

Matt Macaras:
So we’re able to take all of that information, all of that productivity information, bring that back into the schedule, bring it back into our knowledge library, aggregate all of that data in one spot and see it immediately without having, again, to wait for those reports at the end of the week, wait for those reports at the end of the month to see where we’re at and how we’re performing. Then because it’s all in that same platform, that everything that we’re capturing in the field is coming back as actuals into our schedule, into our control budget, it all rolls up back into our knowledge library for use going forward.

Matt Macaras:
So let’s recap what we’ve talked about today. So today was all about talking about aligning our schedule, our CPM schedules with our three week schedules and into execution so that what we’re really doing is increasing our chances of achieving that on time delivery, making sure that we’re going to meet our budget or beat our budget, making sure that we’re going to come in on schedule or ahead of schedule. We do that as we saw through leveraging that knowledge library beginning with the past in mind, pulling in that knowledge library, leveraging the artificial intelligence of our past projects to build out a new project that we know is achievable. To bring in all of those risks scenarios and bring in all of those risks to make sure that we’re planning for those risks to ensure that we’re not inadvertently pushing out the schedule because we haven’t thought of something.

Matt Macaras:
Then we’re able to solicit feedback from the team, not just the project team or the one small team for the company that you may be working for, but the whole project from client to contractor to subcontractor, gather all of that feedback in one spot so that you’re building that consensus based plan. And even extending that out into the subject matter experts in your organization that may not be on that project so that you know you are getting the best advice and the best feedback possible to make sure, again, that you’re going to achieve that on time delivery and hopefully even come in ahead of schedule. Then tying that back and tying it into our three weeks schedules, our work plans and work packages to allow us to execute constraint free work. Because we’ve taken all of our risk activities on our schedule, we’ve applied all that mitigation, all of the risk has been accounted for, we’ve run our risks scenarios, our plans inherent that risk so that when we get to the work, we can just get to the work and build stuff.

Matt Macaras:
Then taking that and pushing it into those daily plans to manage the work at that granular level in the field, capturing the time, capturing those quantities so that what happens is when we climb that time, we can immediately see, “Did we make budget today? Did we not make budget today? Do we meet our schedule? Do we not meet our schedule? How do we get better for tomorrow? How do we improve for tomorrow?” Then because the whole system is connected, as we’re claiming our time or progressing our schedule, we’re also feeding that information into our knowledge library so that what we end up with is a continuous improvement cycle, where we start out building our schedules, reviewing our schedules, connecting that and building the work, capturing that actual work, which then, again, feeds our knowledge library and refines our knowledge library so that when we actually get into the planning phase for another project or the planning phase for later on in the same project, we’re capturing those actual work results, that refined knowledge library, and can reuse the process again so that we’re continually improving to ensure that we’re getting better.

Matt Macaras:
That’s what I had for today. Did we have any questions from the chat, Matt?
Matt Comins:
Hello. Yeah, let me just go and have a look. We have a couple. So Matt, the risk capability we’re seeing, does this talk to the forecasting capability in your platform?

Matt Macaras:
It is coming very soon. We are busily building that out so that the forecasting capability does take into account those risks. So as we’re building those risks now, we do take into account the schedule impact as well as the cost impact. The next step of that is we’re taking that cost impact and pushing that and providing that into the control budget so that we can have those risk adjusted forecasts in terms of dollars.

Matt Comins:
Okay, excellent. Another one. Who is usually responsible in splitting the schedule activities into the daily work plans?

Matt Macaras:
Normally that is the person who’s building the work packages and work plan. So in my experience, when I was a field engineer, that’s what I was doing, is taking that CPM schedule, aligning it to my work packages, my work plans and daily plans. It is just a couple of clicks of a button, but that’s normally the level that I’ve seen it and experienced it at, is that that field engineer level, with input not only from the superintendent but also from the supervisors so that everyone’s on the same page as to what’s being included in those work packages, work plans and how it’s all rolling back up into the schedule.

Matt Comins:
Okay. Next question. When does a potential risk become additional work? For example, if you have a risk that occurs on a regular basis or multiple of your projects.

Matt Macaras:
That’s a great question. So because we’re continually adding into our knowledge library and increasing our knowledge library, this system will start to recognize what risks are reoccurring time and time again, and how that’s affecting the activities in the schedule. So what will happen is, depending on how many times that risk happens on certain types of projects, it’ll start adding that in as activities of the schedule so that you don’t have to continually add it in and think about it. It’ll still flag it as a risk, but it’ll flag it as an activity that’s been added into the schedule with all the appropriate logic things.

Matt Comins:
Okay, let me have a look. Next one, there are many unknown risks in a project. How much additional work time is typically involved in this sort of front loading activity to ensure your plan is realistic?

Matt Macaras:
It’s actually not that much time. If you think about how you currently manage, or at least my experience, how we managed risk, we were constantly doing risk analysis, whether it was a swims, updating the hazard for the overall project or the hazard for the activities that we’re working on, we’re already doing that information. But what we’re able to now do is take those risks items and build that into the centralized risk register of the schedule instead of having it on a disjointed Excel spreadsheet. So it’s not really any additional time because in most cases it’s already happening. It’s just happening in a disconnected fashion. What we’re able to do now is take that information and make that available within our scheduling solution so that it becomes part of that scheduling and execution side of things instead of just a reference piece of material.

Matt Comins:
Okay, we’ve got one last question. You said you would know if you’re going to make or lose money on any day, but what happens if things don’t go according to the schedule?

Matt Macaras:
Really good question. So the InEight platform’s dynamic, so we plan for what our work’s going to be tomorrow. We all know that plans are not … they’re moving there, they’re live documents, and the solution is dynamic. We can add in additional activities, we can add in or remove additional resources. We can remove activities. The system is dynamic and because those links automatically adjust, we can now see what our plan was, what our actual goals were, but because everything is linked, we still know based on the adjusted plan, whether or not we’ve made money or lost money, made schedule or lost schedule. Because as we’re adding in those additional activities, those are still linked back to the schedule. They’re still linked back to our budget and everything’s connected.

Matt Comins:
Okay. I can’t see any more questions in the chat. So if you do have a question, try and put it in now. So we’ll just wait a couple of seconds just to see if anyone else has anything to ask, but I think that might be it. Can this information be viewed at a high level for an exec?

Matt Macaras:
Definitely. Definitely. So within the solution itself, there are risk registers, so project risk registers. There are organizational risk registers. All of that information is able to be reported upon so that you can provide those reports to the executives so that they can now start to see what’s happening on the project and start addressing those risks or making sure that those risks have been addressed.

Matt Comins:
Okay. All right. I think that’s it for now. I can’t see any other questions. So I want to thank everyone for tuning in today. I want to thank Matt for walking us through field execution with an eye towards risk. We don’t have any more questions, but yeah. So if you want to learn anything more about InEight, any of these capabilities or the InEight project management platform, just visit ineight.com and you can send a request for a demonstration straight from there. Or you can actually go to ineight.com/webinars, and we’ve got a schedule of these webinars that are up and coming. I want to thank Matt again. That was a great session and this concludes our presentation. So thanks a lot, everyone.

Matt Macaras:
Thanks, everyone.

Matt Comins:
See you.