Construction optioneering for capital projects

• Construction projects are costly. Simulating different scenarios allows you to build a project virtually, thousands of times - without spending a dime.
• Up to 25% of construction cost is allocated to waste. Simulation conserves budget, by eliminating rework.
• Simulation reveals the impact of different construction plans on project time and cost. GCs can identify the most efficient way to build, in alignment with project goals and priorities.
• Construction simulation is enabled by the parametrization of different construction rules. ALICE is the first system to digitize in this way - unlocking new efficiencies and opportunities for construction optioneering.

• Optimization is the action of making the best or most effective use of a situation or resource.
• Optimization in construction allows contractors to make the best use of their precious labor, material resources, time, and equipment. 
• Optimization is supported by side-by-side assessment and visualization of resources and available options. For example, what is the ideal crew mix on this project? How many concrete crews is too many? Which trade or piece of equipment is the bottleneck on a project? 
• Of all industries worldwide, the process of optimization offers the greatest potential impact to construction and build-focused fields.

• The main parameters considered for optimization in a construction project are: labor, materials, equipment, and time. This includes the quantity of crews/laborers needed (by trade); type, placement, quantity of required equipment; quantities, cost, and properties of material (should I use quick cure concrete or regular concrete?) - and ultimately, how each of these factors will affect completion time and budget. 
• Other parameters considered are space (how to maximize the use of available space), environmental conditions (Will inclement weather or ground saturation affect project estimates or timeline?), management of traffic parameters (Can road closures required for construction be minimized in length?), and so forth. 
• Additionally, contractors can look at parameters around sustainability: which scenario generates the least carbon emissions?

• Simply put, construction optioneering examines all available alternatives and options to find the ideal approach and plan for building a construction project. 
• Construction optioneering considers a broad range of potential solutions, alternatives, and options to ensure that a given solution aligns with project objectives, and makes the best use of resources.
• “Optioneering” is an established concept outside of the realm of construction, but ALICE’s recent technological advances have streamlined the process for construction optioneering in complex projects.

A capital project is a long-term, capital-intensive investment to build upon, add to, or improve a capital asset. Capital projects are defined by their large scale and large cost relative to other investments that involve less planning and resources. (definition source: Investopedia)

Every year, construction grows more complex due to macro-level trends such as global labor shortages, unpredictable resource supply chains, and increasingly stringent construction requirements (e.g. safety, durability, sustainability), as well as increasing expectations from various stakeholders.

A capital project is an often-pricey, long-term project to expand, maintain, or improve upon a significant piece of property.

Examples of capital projects include:

• Heavy civil construction projects (especially those with large or linear footprints, such as a subway that spans many miles), 
• Industrial projects with complex engineering and procurement challenges
• Projects with hyper-custom MEP (mechanical, electrical, and plumbing) systems (such as a power plant facility)
• Renovation projects can also be incredibly large commercial, residential, or mixed-used projects in high-density environments, where access to sites is constrained by traffic, space, or other factors.
• Geographic locations with challenging weather or environmental conditions can also add complexity in construction projects (e.g. building in Antarctica, underwater, or underground).