AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects

28 Pages Posted: 26 Aug 2022

See all articles by Bent Flyvbjerg

Bent Flyvbjerg

University of Oxford - Said Business School; IT University of Copenhagen; St Anne's College, University of Oxford

Alexander Budzier

University of Oxford - Saïd Business School

Ricky LAU Chun-kit

affiliation not provided to SSRN

Karlene Agard

Oxford Global Projects; University of Oxford - Said Business School

Andreas Leed

Oxford Global Projects; University of Oxford - Saïd Business School

Date Written: August 17, 2022

Abstract

Hong Kong has a large volume of construction works currently taking place; this will increase further and faster in the coming years. Hong Kong’s projects typically come in 15% under budget. However, ten per cent of local projects over-run their budgets, with a total overspend of eight percent. Some flagship projects have over-run their budgets and completion dates, causing public embarrassment. It is considered crucial to get these cost and schedule estimates under control. We investigated whether Artificial Intelligence (AI) can play a part in accurately predicting these outcomes and in identifying ahead of time when a project is going off track, allowing early intervention.

Keywords: AI, artificial intelligence, project management, project leadership, cost overrun, cost control, prediction

Suggested Citation

Flyvbjerg, Bent and Budzier, Alexander and Chun-kit, Ricky LAU and Agard, Karlene and Agard, Karlene and Leed, Andreas, AI in Action: How the Hong Kong Development Bureau Built the PSS, an Early-Warning-Sign System for Public Works Projects (August 17, 2022). Available at SSRN: https://ssrn.com/abstract=4192906 or http://dx.doi.org/10.2139/ssrn.4192906

Bent Flyvbjerg (Contact Author)

University of Oxford - Said Business School ( email )

Oxford
Great Britain

IT University of Copenhagen ( email )

Copenhagen
Denmark

St Anne's College, University of Oxford ( email )

Oxford
United Kingdom

Alexander Budzier

University of Oxford - Saïd Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

Ricky LAU Chun-kit

affiliation not provided to SSRN

Karlene Agard

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

Oxford Global Projects ( email )

Andreas Leed

Oxford Global Projects ( email )

University of Oxford - Saïd Business School ( email )

Oxford, OX1 5NY
United Kingdom

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