Chrono™ Brings AI Driven Automation For EVMS

Key Benefits

• Early Detection of Variances: Automated EVM facilitates prompt identification of deviations from the project plan, enabling timely corrective actions.
• Objective Performance Measurement: It offers a quantitative method to evaluate project progress, enhancing the accuracy of performance assessments.
• Improved Forecasting: EVM supports precise predictions of project completion dates and final costs, aiding in better decision-making and resource allocation.
• Enhanced Communication: The standardized metrics and reports generated through EVM promote clearer communication among stakeholders, ensuring a shared understanding of project status.
• Embedded AI: Supporting automation and ease of use of EVMS.

By incorporating EVM into project management practices, organizations can achieve more effective project control, increased transparency, and a higher likelihood of delivering projects on time and within budget.

Additionally, utilizing Chrono offer a built-in risk management features—such as tornado charts for sensitivity analysis—allows project managers to proactively identify and mitigate potential risks sooner, further contributing to project success.

Embedded AI

Chrono offers a range of compelling and unique features, designed to be both useful and effective:

• AI-Driven Wizards: These include expert system capabilities that assist with scheduling, ensuring that all EVM schedules are valid. If any issues arise, users are alerted to the problems and provided with guidance on how to resolve them.
• Integrated Schedule and Cost Risk Analysis: Using Monte Carlo simulation technology and proactive risk analysis features, Chrono enables users to easily assess risks. This empowers productive and proactive risk management, driving project success—even for projects already in progress.
• AI-Based Data Analytics: These capabilities automate the creation of valuable data through best-in-class graphics, including charts and metrics, which significantly enhance contract performance. This is particularly useful for organizations involved in complex or strategically important projects.
• Actionable Assessments: Chrono facilitates analyses that lead to improved project outcomes and automatically generates critical data and graphics for management review, including:
  • Confidence levels for meeting cost and schedule commitments
  • Recommendations for changes that provide the most impact when issues arise
  • Dashboards, trend data, and EVM metrics that track project cost and schedule efficiency, with clear identification of activities requiring more attention.

In addition to providing this valuable data, Chrono improves team performance and reduces organizational costs by streamlining administrative tasks, such as data capture and charting, while also incorporating all historical data. With these benefits, RTConfidence’s offering is an obvious choice for any organization looking to enhance its project management capabilities.