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EcoSys™ Predictability

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The Cost of Low Predictability Project predictability can be simply defined as how early in a project the outcome is known. For years, the construction and engineering industry has struggled with low predictability. Construction Industry Institute (CII) research found that on average, forecast variance reporting starts at 65 percent of project duration. When forecasts increase very late in the project, management is left with little or no time to implement corrective actions. Yet, the industry is still focused primarily on final outcome variance, with little regard for how early in the project the outcome becomes known. This contributes directly to the industry's endemic cost and schedule overruns. Poor predictability can be caused by any number of factors – insufficient effort or attention, low maturity of processes, optimism bias, or lack of transparency or accountability – and organizations have lacked the tools to measure and improve predictability … until now. ECOSYS™ DRIVING PROJECT PREDICTABILITY ACROSS YOUR ENTERPRISE Improving Predictability with EcoSys The EcoSys Enterprise Project Performance platform is the only solution in the industry that incorporates predictability metrics from CII's research to help drive predictability throughout portfolios, projects, and contracts. EcoSys enables you to measure projects based on Normalized Cost Timeliness (NCT), a metric measuring how timely cost variances are predicted, and Cost Predictability (CP), a metric that combines NCT with overall cost variance. These metrics ensure that both accurate AND early forecasts are emphasized in one universal metric that can be applied across the enterprise. With EcoSys, you can apply these predictability metrics to historical projects for benchmarking and analysis. Leverage dashboards and predictability graphs to figure out where you stand and drill down into root causes of low predictability. With the technology to measure and deliver accurate forecasts, EcoSys arms you with the tools to incentivize project teams based on predictability, decrease optimism bias, and create a culture of transparency and accountability. EcoSys is the only software platform that enables you to measure and improve project predictability, leading to overall project cost and schedule reduction across your enterprise. SOLUTION SHEET

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