Major projects are awash with data, providing us with opportunities and challenges in equal measure: the opportunity to increase value at every stage in a major project’s life cycle and the challenge of understanding volumes of data, which may be inconsistent or siloed within just one part of the organisation.
Whilst the technology and tools, e.g. internet of things, blockchain, digital twins and big data, are changing at a bewildering rate, what will not change is the ‘information value chain’ (information → insight → decision → outcomes) which, if properly managed, is the source of great value, potentially enabling projects to reduce costs.
This seminar sought to describe the strategy for information design and governance; and to explore how clients and contractors can re-engineer their approach in order to exploit the new data tools and the benefits they offer.
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