Digital engineering and the associated data are transforming the construction industry by enabling organizations to deliver on safety, quality, efficiency, productivity and ultimately projects that are on schedule and budget. Data provides the ability to apply a holistic, consolidated single source of truth that simplifies complex processes and supports best practices, e.g., advanced work packaging (AWP) and BIM. In turn, this enables all levels of the organization and ecosystem partners to achieve complete visibility of all aspects and details affecting the execution of projects. This helps improve decision-making, collaboration and the establishment of a foundation for successful asset and facilities management during the operations and maintenance (O&M) phase of the facility.
In the face of recent inflationary pressures eroding project margins, profitability and supply chain disruptions, we have experienced domestic market consolidation. Talent shortages, the entrance of overseas players and the need to compete to win projects add to this pressure. The construction industry is under ever-increasing pressure to drive competitive advantage. Instead of driving prices down, the savvier in the industry are choosing to win and profit in other ways. For example, delivering safety, quality, efficiency and productivity through projects that are on schedule and on budget or that are profitable by improving the complex operating environment.
Many industry leaders within construction look for new ways to claim a competitive advantage with digital transformation. With the construction phase of projects equating to approximately 80% of an asset's total installation costs, this phase is our biggest opportunity to affect the schedule and budget positively.
The ability to apply a holistic, consolidated single source of truth that simplifies complex processes and supports best practices (e.g., advanced work packaging and BIM) enables all levels of the organization and ecosystem partners to achieve complete visibility of all aspects and details affecting the execution of projects, improving decision-making and collaboration.
Octave's smart digital reality for industrial assets meets industry challenges head-on. The solution uses intelligence to automate processes and analytics. Coupled with reality capture and automated work processes, Octave's portfolio project planning, design, construction, operations and maintenance software solutions can remove human errors and the need for intervention. This helps businesses use an autonomous future.
Great examples of data and digitizing are:
Technip Energies uses Sequence Enterprise (formerly EcoSys) to enable the progressive digital transformation of project control processes
Insights from Ausenco on achieving sustainability and efficiency with digital transformation
This oil refinery that was able to track 2,000,000 materials with Octave's Loop Material Readiness (formerly Jovix) solution for timely materials management
Octave helps remove the complexity from complex projects. Digitization and data visualization provide decision-makers with a new level of transparency to make informed decisions with velocity, enabling engineering, procurement and construction companies (EPCs) and general contractors to achieve their preferred status and remain competitive.
Octave is the enterprise software leader that transforms data and intelligence into decisions and action, at scale. Octave offers a suite of solutions that span the entire lifecycle of a project - from planning, design and execution to operation, maintenance and the security of assets.