Problem:
A research study by Harvard shows that complexity is the number one contributor to decision-making error, more so than time pressure or lack of skill. The projects carried out to design, build and integrate engineering products, such as vehicles and aircrafts, are far more complex than the products themselves. This project complexity often overwhelms managers and leads to expensive errors in planning and execution. As a result, for every £1 billion a company spends on product development, at least £120 million is lost due to inefficiencies.
Current tools do not assist managers in handling high levels of complexity, and managers are required to manually plan and execute their projects. With the lack of innovation in management technology, poor project performance remains an unsolved perennial problem facing all product development companies.
Solutions:
AEMS is a Cambridge University spinout developing an AI-assisted management software for complex engineering projects. The software is equipped with novel capabilities that help managers handle planning and execution complexity. Product trials have demonstrated strong customer benefits. Our optimisation tools and predictive capabilities allow customers to save up to 30% of their total project resources.
“The Enterprise Fellowship programme has been enormously supportive through providing funding and, more importantly, a comprehensive training programme delivered by world-class experts covering the various aspects of entrepreneurship.”
