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This summary describes the steps needed to start development of a BayMiner EWS risk management system for repetitive small- and mid size projects. It suits exceptionally well construction and engineering companies that deliver and install complex equipment or manage comprehensive service contracts. It is especially useful for organisations with a distributed tendering process. Unlike conventional risk assessment methods based on scoring points and an expert team evaluation BayMiner EWS utilizes the whole organisations’ competence. The knowledge model is easy and fast to update, increasing productivity significantly. This ensures that up to 100 % of catastrophe projects are avoided saving much cost with very small investments.
We recommend that you proceed in four stages, two first stages are for feasibility study, each of which takes 1-3 calendar months and BayesIT’s share of work is 1-3 work days/ phase. The realization of the project takes place during the two later phases.
We recommend that in the feasibility study participants from your side are at least:
The problem owner (the result responsible manager of the piloting area.
A person that knows your databases.
About the realization
- BayesIT takes care of the server solutions as well as the EWS www page.
- The outlook of the EWS page will follow your company’s identity guide, which means the user cannot recognize that the service does not reside on your servers.
- Typically your work content is some days per phase as well.
Your obligations are:
- Delivery of data to BayesIT experts and participate in data selection
- Testing.
1st phase
BayesIT finds out does your company have enough useful data
Contains:
- Review of data collected by the presently operating system.
- Pre-selection of the relevant variables.
- Creation of the first model and test analysis of it.
- The package includes
- Consulting 1-2 half-days.
- Training basics for 1-2 key persons.
- User licenses for 1-2 test users during the period.
Results of 1st phase:
- A simplified off-line risk model.
- Basic understanding of knowledge modelling methods for your staff.
- Basic skills to analyse off-line using the BayMiner method.
2nd phase
BayesIT verifies together with you that the data contains enough information
Contains:
- The search for the relevant variables (approx.15) and testing of them continues.
- If necessary, we agree on collecting additional data and the testing of it.
- The package includes
- Consulting 3-4 half-days
- Training for 1-2 key persons.
- User licenses for 1-2 test users during the period.
- Co-operation concerning variable selection and data collection continues until the knowledge model is good enough.
Results of 2nd phase:
- A simplified off-line risk model that works already
- Solutions to fetch data from company databases.
- Determining of the variables.
- Understanding of knowledge modelling by your staff
- Testing.
3rd phase
We verify together that everything works as it should. You prepare for the utilization.
For more information, see BayMiner EWS project description.
Both the work and the invoicing of the fourth phase are subject to the data being good enough to control the traffic lights correctly. If it does not materialize then the project is cancelled and the final part of the bill is not charged.
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