Currently 90% of capital projects go over budget resulting in $1.6 trillion waste each year. The fundamental cause of this waste is the inability to identify and resolve issues before they impact the project. From project kickoff to closeout, over 30% of construction data is lost. The project manager of the future will be augmented by an AI-powered capital project advisor that continuously compares projects plans to reality, digitally verifying construction quality and progress. This real-time feedback loop between on-site construction and project management will enable a shift in decision making cycles from monthly to daily. Advancements in drones, laser scanners, sensors, site connectivity and cloud computing have enabled an increase in the frequency, accuracy and completeness of data which can help bring truth to a project. This methodology will result in creating an accurate complete digital record of the project which can be used to unlock project financing, insurance claims, while supporting project audits and continuous improvement initiatives.
David Lod has spent the past 16 years in senior leadership roles. David was responsible for building and managing critical data centres facilities for Shaw Communications Inc as VP and GM. He was responsible for overseeing the P&L, operations, key client relationships and product development. Previously, he was Vice President of Enterprise Sales for Rogers Communications Inc. and Executive Vice President & Co-owner for Pivot Data Centres (a high growth firm that was acquired by Rogers Communications Inc. in 2013). David now leads VEERUM as CEO, a Calgary headquartered SaaS company focused on Asset Information Visualization across the entire lifecycle.
Currently 90% of capital projects go over budget resulting in $1.6 trillion waste each year. The fundamental cause of this waste is the inability to identify and resolve issues before they impact the project. From project kickoff to closeout, over 30% of construction data is lost. The project manager of the future will be augmented by an AI-powered capital project advisor that continuously compares projects plans to reality, digitally verifying construction quality and progress. This real-time feedback loop between on-site construction and project management will enable a shift in decision making cycles from monthly to daily. Advancements in drones, laser scanners, sensors, site connectivity and cloud computing have enabled an increase in the frequency, accuracy and completeness of data which can help bring truth to a project. This methodology will result in creating an accurate complete digital record of the project which can be used to unlock project financing, insurance claims, while supporting project audits and continuous improvement initiatives.
