To overcome the “legacy of inefficient policies and procedures” our submission will "Reset" the expensive and burdensome manual processing of data throughout the ecosystem for the Construction of Energy and Transportation infrastructure projects, where true data analytics is not possible because the data elements are not consistent and siloed.
The “Reset” is the ecosystem implementing machine readable data interoperability to streamline administration, reduce costs and improve risk management through data analytics made possible by consistent data elements that are not in silos, but easily and securely exchanged across industry segments.
The Reset Tool and innovation enabler is the XBRL Taxonomy and the Orange Button Taxonomy Viewer to provide all stakeholders the ability to freely exchange data reliably, securely and confidentially, without third parties being required, or imposing proprietary systems.
Measure of Sucess
- Implementation of data standards in the entire ecosystem for the Construction of Energy and Transportation infrastructure Projects to reduce soft costs and enable improved risk management that will make clean energy projects more financially viable, bankable and bondable.
- Electronic transactions, smart contracts, electronic surety bonds and digital communications replace manually prepared inefficient paper documents
- National standards established for common data sets like construction permits and similar regulatory documents to replace thousands of individual and inefficient data requirements.
- Better source data for Environmental, Social, and Governance (ESG) reporting.
