Procore Technologies, Inc. launched new portfolio management and capital planning capabilities for capital project owners. The software suite embeds Procore AI to extend agentic AI capabilities to project teams. The system connects the full capital project lifecycle from early concepts to active operations.
Construction programs face high complexity and expensive capital. Nearly 92% of large capital projects fail to finish on time and on budget. These failing projects run an average of 20 months late. They also exceed original cost estimates by 80%. Many teams still execute projects against budgets approved 12 to 24 months earlier. Procore Technologies built these new capabilities directly into its platform to eliminate disconnected spreadsheets.
Geoff Lewis, SVP of Product at Procore, said: “Owners aren’t waking up worried about just one project. They’re thinking about hundreds of millions, sometimes billions, in capital spread across an entire portfolio. We’re building capital portfolio management capabilities directly into Procore to give owners that visibility in one place. Combined with embedded Procore AI, these capabilities help owners quickly assess project and portfolio health, surface emerging risks, and get answers grounded in construction data across all of their projects so they can make decisions with confidence instead of piecing together information across spreadsheets and disconnected systems.”
Procore AI Targets Manual Portfolio Monitoring Risks
The new suite includes Concept Projects, Portfolio Monitoring, Owners Hub, Capital Planning, Funding Source Management, and Asset Management. Concept Projects lets owners evaluate early-stage initiatives before committing capital. Portfolio Monitoring provides real-time visibility into budgets and schedules. Owners Hub provides personalized dashboards to track financial trends. Procore AI uses Deep Search to answer questions using specifications, submittals, and field documentation. The tool identifies financial, schedule, and operational risks across entire portfolios.
Marc DiGuiseppe, Vice President of Project Delivery at Catalyze, said: “Using Procore has really helped us make strategic planning decisions about where we want to spend capital in order to grow the business and focus on putting good dollars to work.”
Owners Hub, Portfolio Monitoring, Concept Projects, and Asset Management are currently in beta. Procore Technologies plans general availability for these tools in summer 2026. Capital Planning and Funding Source Management enter beta in June 2026. Procore Technologies schedules general availability for those specific financial tools in late 2026.
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News Source: Businesswire.com
