How Data Analytics Can Transform Your Project Management Organization

Whether it is monitoring the rate of completion of work to ensure that projects are meeting their deadlines, or planning resource capacity to meet quarterly and annual business goals, the most successful team members rely on accurate real-time data analytics. Many organizations are still struggling to fully adopt data-driven practices.

This is because a variety of individuals are involved in the production of project information, including engineers, vendors click here for info as well as automation groups and contractors. These groups are working on projects across the globe and relying upon spreadsheets, systems, and documentation methods to share and exchange information. It can be difficult to ensure that the information shared with key decision makers is accurate as well as consistent and easily accessible.

While 73% of project professionals say that high-quality data is essential to their success but only a quarter the same teams are described as “data-driven.” Without an uncentralized source of relevant data, real-time information, many key decisions are made based on intuition and experience which can be a major problem when it concerns projects.

An effective solution is to centralize the creation and management of project information within the PMO team. This allows you to build an interactive dashboard that can be filtered and surfaces the most relevant information for everyone on your team. This will allow you to recognize and resolve issues such as poor pipeline capacity or lack of resources before they cause an impact on the schedule of the project. This will help you avoid any unexpected surprises that might arise from bad assumptions or expectations not being fulfilled by your data.