How Data Analytics Can Transform Your Project Management Organization

It’s whether it’s monitoring the rate of completion of work to ensure that projects are meeting their deadlines, or planning resource capacity in order to achieve quarterly and annual business goals The most successful project teams rely on precise real-time data analytics. Many organizations are struggling to fully adopt data-driven practices.

One of the primary reasons is that multiple people are responsible for creating project information such as vendors, engineers Automation groups contractors and operations. As these groups work on projects across the globe and depend on a variety of methods of documentation, spreadsheets, and systems for sharing and exchanging the information, it can be challenging to ensure that the information sent to key decision-makers is consistently accessible, consistent and accurate.

73% of project managers believe that data of high quality will be crucial to their success. However only 25% of these teams believe that they are “data-driven”. Without a central source of real-time data, important decisions are often made by relying on intuition and experience, which can lead to problems when it comes time to manage projects.

Centralizing the creation and management project information within a PMO is a viable solution. This allows you to create a dashboard that is filterable and displays the most relevant information to everyone on your team. This will help you recognize and resolve issues such as inadequate pipeline capacity or the absence of resources prior to them having an impact on the schedule of the project. This will allow you to avoid any surprises that could result from poor assumptions or expectations not being fulfilled by your data.

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