The Higher Education Commission (HEC) is one of the prestigious institutions of Government of Pakistan its main objective is to upgrade Higher Learning Institutions (HLI) in Pakistan to be centers of education, research and development. The objective of this paper is to study the applications of Artificial Neural Network (ANN) technology particularly in capital project risk analysis. The use of this technology will help the decision makers to improve the effectiveness of the decision making process at the front-end stage of projects in the HLI of Pakistan. The advantages of ANN are highlighted over the traditional system to be used as decision making system. Artificial neural network model is superior in the prediction of project cost and time variations. © 2012 IEEE.