Highlights
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Cost Savings -
Efficiency Improvements -
Data-Driven Decision-Making
Maximizing Value with Think Power Solutions for CNP
The Challenge
CNP faced challenges in managing schedules effectively and harnessing actionable insights from project data. The need for streamlined processes, cost savings, and improved efficiency drove CNP to seek innovative solutions to enhance project management and decision-making.
The Solution
- Streamlined Schedule Updates & Business Intelligence:
- Leveraging Think Power's AI data analytics application, CNP streamlined schedule update processes, providing actionable business intelligence. This included real-time dashboards visualizing engineering performance metrics and trends.
- Comparative performance metrics enhanced engineer accountability, while descriptive statistics facilitated project planning and monitoring.
- Cost Savings & Efficiency Improvements:
- Analytics tools enabled CNP to achieve significant cost savings totaling $15M per year since 2016, optimizing construction bid pricing contracts
- Improved communication and collaboration, coupled with data-driven root cause analysis, reduced issues and changes, leading to a 30% reduction in work order delays since 2016.
- Streamlined project data communication fostered collaboration between historically antagonistic departments, resulting in cost savings of over $1.2M.
- Analytics, Collaboration, and Rate Case Support:
- Enhanced collaboration and communication through data-driven insights and root cause analysis improved interdepartmental relationships.
- Real-time analysis of project data allowed for cost variance forecasting and standardized project closeout procedures, ensuring readiness for rate cases.
- Interdepartmental project closeout standardization led to a quick turnaround from project completion to rate case submission, contributing to significant cost variance explanations.
- Risk Management & Forecasting:
- Think Power's AI tools enabled the identification and mitigation of potential risks, facilitating proactive risk management.
- Real-time material cost forecast reports provided timely insights, preventing unexpected issues and optimizing resource allocation.
- Engineering Programming – Data Analytics Service:
- Custom-built AI-driven forms streamlined data collection in both office and field environments, enhancing accuracy and accelerating decision-making.
- Integration with Oracle Primavera P6 and KYRO.AI platform ensured seamless project management and reporting, enhancing data visibility and collaboration.
- Redlining capabilities integrated into PDF documents improved collaboration and decision-making, while voice notes enhanced communication during document review processes.
- Robust data processing infrastructure, including CRON jobs and error handling, ensured data accuracy and reliability, enabling prompt corrective actions.
Key Benefits
- Cost Savings: Achieved significant cost savings totaling $15M per year since 2016, optimizing construction bid pricing contracts.
- Efficiency Improvements: Reduced work order delays by 30% since 2016 and eliminated the need for physical project update meetings, saving over $1.2M.
- Enhanced Collaboration: Improved communication and collaboration between departments, fostering a continuously improving working relationship.
- Risk Mitigation: Enabled proactive identification and mitigation of potential risks, preventing project delays and cost overruns.
- Data-Driven Decision-Making: Provided real-time insights and analytics, facilitating informed decision-making and strategic planning.
The Results
Think Power's solutions enabled CNP to streamline processes, achieve significant cost savings, enhance collaboration, and mitigate risk. By leveraging innovative technologies and data-driven insights, CNP improved project management efficiency, decision-making, and overall performance, leading to substantial benefits across various aspects of their operations.
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