Summary:
The UK company is developing Intelligent Project Prediction (IPP) tool using predictive analytics to identify projects at risk of failure and forecast likely project outcomes. They are already working with known companies who apply IPP to their project portfolio and others who position IPP as a value added client offer. They seek new commercial partners (agents).
Description:
The UK company is an independent consultancy specialising in project management supported by Artificial Intelligence.
In particular, they are developing IPP tools that are used to increase the efficiency of project management.
Their tool drives intelligent interventions, improves project performance and saves in overspend and rectifications.
Research by McKinsey & Co and Oxford University shows on average, large projects run 45% over budget, 7% over time and deliver 56% less value than predicted. Similarly, the Association for Project Management (APM) state that up to 80% of projects fail to wholly meet their outcomes. UK businesses have invested more than £11 billion in consulting but only 46% of projects complete on time while nearly 40% experienced scope creep according to PMI (2020).
A data-driven approach has the potential to significantly change the way projects are managed. By ingesting historical project data from disparate systems into the cloud platform, the UK company's IPP platform can perform advanced analytics and apply machine learning to determine how current projects perform based on prior performance.
The client journey is a 3 step process:
Proof of concept, delivery and support.
Depending on existing systems, data and processes, the IPP topl can be configured to an individual client so there is significant consulting as well as product configuration and possibly development.
The company seeks to partner with commercial agents with access to corporate executives responsible for projects in any sector. This may mean a company who has a complimentary product and/or service offer. For example companies who provide PPM (Project and Portfolio Management) and/or related tools such as scheduling, finance and resource management. Alternatively medium sized company in the project delivery or change space may see this as an interesting way of providing customers with added value and a USP, and could be potential partners.
Type (e.g. company, R&D institution…), field of industry and Role of Partner Sought:
The UK company seeks agents with access to corporate executives responsible for projects in any sector. This may mean a company who has a complimentary product and/or service offer.
For example companies who provide Portfolio Project Management (PPM) and/or related tools such as scheduling, finance and resource management.
Alternatively medium sized company in the project delivery or change space may see this as an interesting way of providing customers with added value and a USP.
The targeted sectors are:
1. Construction
2. Engineering / electronics and manufacturing
3. IT
4. Telecomms & media
5. Utilities & energy
6. Central government
7. Rail & air
8. Logistics & supply
9. Outsourcing & offshoring
In terms of the fee the company is happy to discuss that as either a percentage or a fixed fee but would relate only to secured business not lead generation. Once leads are qualified, the company is happy to either support or lead on sales closure i.e. prospect presentation, provision of sales materials etc.
The UK company is happy to discuss joint marketing campaigns and/or white labelling.
IPR Status:
Secret Know-how
External code:
BOUK20210615001
