Optimize your projects with Altirya to minimize budget overruns and delays

Optimize your projects with Altirya to minimize budget overruns and delays

Tue Oct 29 2024 12:36:20 GMT+0000 (Coordinated Universal Time)

Optimize your projects with Altirya to minimize budget overruns and delays

In project management, one third of projects go over budget and half are delivered late. These failures often lead to high costs and productivity losses for businesses. Altirya is an artificial intelligence-powered project management solution designed to address these challenges. By generating optimized Gantt charts, identifying potential risks related to the project, and providing an accurate cost estimate, Altirya helps projects stay on schedule and within budget.

Problem 1: Overly optimistic Gantt charts and a lack of data for realistic schedules

In many projects, initial estimates are often too optimistic, underestimating task durations and overlooking unexpected issues. This problem stems from two major sources: a lack of relevant historical data and a natural tendency to downplay potential risks. In addition, for innovative projects, the absence of reference models worsens this challenge, making any estimate even more uncertain.

This lack of visibility into resources and timelines leads project managers to create Gantt charts that are too optimistic. These plans, essential for project planning, rely on predictions and assumptions that do not always account for the complexities inherent to the project, such as unforeseen delays and task interdependencies. As a result, teams often find themselves overwhelmed, unable to meet planned deadlines, which can harm the final quality of the project and stakeholder satisfaction.

Solution: Optimized and accurate Gantt charts powered by AI

Altirya uses artificial intelligence to automatically generate accurate Gantt charts that adapt to the specific constraints of each project. Our AI analyzes the project scope, deadlines, available resources, and constraints to create a realistic and optimized Gantt chart that helps track and manage every stage of the project.

Our AI solution is also suited to innovative projects. It does not rely solely on historical data but also leverages adaptive models that analyze similar projects across various industries. These models make it possible to break down tasks into smaller components and deliver more accurate estimates, even when the project has specific characteristics or unique objectives.

Thanks to this advanced approach, Altirya helps project managers improve planning accuracy, reducing preparation time and margins of error. AI-optimized Gantt charts make it easier to build realistic schedules and support on-time, on-budget delivery, even for complex or unprecedented projects.

Problem 2: Insufficient anticipation of project risks

In project management, proactively identifying risks is crucial to avoiding delays and unexpected costs. However, many project managers lack the time or resources to anticipate these risks and often end up responding reactively to obstacles. Project risks can relate to human resources, budget constraints, or technological uncertainties, making anticipation essential to a project’s success.

Traditional risk management approaches often rely on static checklists that do not adapt to project progress or real-time team discussions. As a result, these approaches lack flexibility and may miss emerging risks. Altirya relies on advanced AI that integrates risk management best practices, including the PMI (Project Management Institute) methodology, for continuous and evolving risk tracking.

Solution: Proactive and evolving risk management with Altirya

Altirya offers an evolving approach to risk management by leveraging AI that tracks project discussions and updates in real time. By analyzing exchanges, new constraints, and unforeseen events as they arise, the AI can provide risk management recommendations that reflect changes in the project context.

With a risk database and industry trend analysis, our AI anticipates specific obstacles and suggests appropriate mitigation measures, even when the project takes an unexpected turn. Whether facing human resource challenges, technical constraints, or financial uncertainty, project managers benefit from an always up-to-date view of potential risks, enabling strategic adjustments at each key stage of the project. By anticipating risks dynamically, teams can reduce disruptions and maintain optimal performance.

Problem 3: Frequent underestimation of project costs

Another major challenge in project management is cost estimation, a process that remains one of the most complex and risky. When a budget is poorly assessed, it can lead to cost overruns, financial constraints, and in the most severe cases, jeopardize the success of the project. Project managers need to anticipate realistic costs from the planning phase to ensure the project does not exceed available resources.

Unfortunately, traditional cost estimation methods often fail to account for all variables, and projections can be distorted by approximations. This situation creates financial issues during the project, increasing the risk of budget slippage.

Solution: Optimize your budget with our AI cost estimation assistant

To address this issue, Altirya offers an advanced cost estimation solution powered by GPT-4o. This AI assistant provides accurate budget estimates based on analysis of resources, timelines, and project scope. Thanks to GPT-4o’s processing capabilities, our assistant takes into account cost history, current market trends, and other economic factors to deliver real-time estimates.

By using this AI assistant, project managers receive suggestions on resource allocation and the potential cost of each task, enabling them to optimize how funds are distributed. Budget forecasts are dynamically adjusted based on new data and unforeseen events, providing a realistic and reliable view of project-related costs. This transparency strengthens stakeholder confidence, improves financial decision-making, and ensures the project remains within the defined budget framework.

With Altirya, project management becomes smoother, improving schedule accuracy, risk anticipation, and cost control. Our AI-powered solutions allow your team to focus on the project’s strategic objectives, while Altirya handles optimization and continuous tracking. Businesses can therefore gain efficiency, reduce delivery timelines, and maximize their chances of success.