PROJECT OPTIMIZATION DTAR DIGITAL SOLUTION Integrated real time planning and reporting across platforms. Infosys, Cicero Management and NJORD Law Firm have established a Joint Venture, offering an integrated Machine Learning (ML) based project execution solution. The main thrust of the solution is an IT-system which collates real time data from various stakeholders platforms, turns the data into useful insights providing easy data access for those, who need them for quick decision making. The solution incorporates an ML platform which can recognize planning patterns & variations, identify options and recommend improvements for each option. Alongside the development and implementation of the solution, Cicero Management provides Change Management consulting services, NJORD delivers advice on necessary contractual paradigm shifts and implementation down to the individual employment contract.

IT WORKS! The final IT-solution is at the prototype stage. However, the project execution and integration functionalities have been tested at a an off- shore-turnaround-project (maintenance project, when the production platform is taken off line) with a large international oil & gas company. Some coordination had to be done manually rather than digitally. Whilst this was not as efficient as a fully developed IT-system, significant results were achieved: The financial potential is obvious and compelling! A significant reduction of project duration, as the project was completed 10 % ahead of plan (in spite of time overruns being the norm), which led to an increase in cash flow of £ 9 million. Productivity increase of 25 % through reduced waiting and non value adding time.

CHANGE MANAGEMENT Several scientific studies from among others Harvard have continuously documented that up to 70 % of large business transformation initiatives fail to deliver planned objectives. Main reasons for this are insufficient buy in & engagement from the organization and external stakeholders. Thus a structured and engaging change management process is essential to ensure optimal success when engaging in Business Improvement initiatives. Some of the most efficient tools for achieving this : development and support of clear objectives, involving all relevant stakeholders in the project planning process, visible and active sponsorship combined with efficient and transparent communication. Cicero Management ensures that an efficient and dynamic change management effort leads, among others, to the following benefits: The level of success when implementing a new IT-solution, which leads to new ways of working is directly proportional to the level of acceptance by the organization. Structured collection of improvement suggestions leading to more effective work processes from all involved parties. Ensures that everybody understands and buys in to the project rationale, background and objectives, including which benefits individuals and teams can harvest through implementing new and improved ways of working. A high level of engagement and buy in ensures that the project remains in focus and that variances to plan are reported in real time enabling corrective actions to be taken quickly and efficiently thus avoiding adverse impact on project progress.

OPTIMIZED CONTRACT MANAGEMENT AND SERVITIZATION A new business model involving subcontrators and other stakeholders requires a new way of thinking concerning contract design. Traditional contracts are not suitable for handling realtime reporting, joint design and planning, where cooperation is of vital importance. Furthermore, most contracts are seen, not as a means of optimizing collaboration among partners, but rather as tools for allocating risks. Only around 5 – 10 % of contract administrators have a true understanding of their contracts. Thus there is considerable room for improvement, not least through application of IT solutions. In addition to this, traditional contract design tends to create an array of conflicts. However, this is solvable. Through the efficient use of incentives, we ensure that resources are allocated to creating customer value. This is a central element of the growing servitization trend. Further benefits can be gained from optimizing insurance conflict avoidance and risk management.

PARTNERS INFO Infosys is a global IT-company with annual revenue in excess of USD 10 billion. Infosys was founded in India and has offices around the globe. Infosys is recognized as a leading player within digital transformation. Cicero Management is a management consulting firm, within Change Management and Business Transformation, which only employs senior consultants. The firm has a strong focus on the Energy sector with long and deep experience with large and complex projects involving many stakeholders. NJORD Law Firm is an international law firm headquartered in Denmark. Hovedsæde NJORD Law Firm supports large foreign building contractors in connection with bids or doing work in Denmark in the public or private sector. NJORD Law Firm participates in several public and private projects around digitalization of contracts and development of contractual standards. THE IT SOLUTION IS FREE! Should your company be the first to enter an agreement around a pilot project to finalise the IT-solution, Infosys is committed to provide the needed IT-resources and a number of licenses free of charge for a period of time. More specific terms to be agreed via negotiations. This takes into account that internal costs will occur related to the system development process.