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 on time, or planning resource capacity to meet quarterly or annual business goals The most successful project teams rely on precise real-time data analytics. But, many companies find themselves struggling to be fully data-driven.

This is due to the fact that a variety of individuals are involved in the production of project information such as engineers, vendors, automation groups and contractors. Since these groups are involved in projects all over the world and rely on various documents, spreadsheets, and systems to exchange and share the information, it can be challenging to make sure that the information provided to the decision makers is accessible, consistent and accurate.

73% of project professionals believe that data of high quality will be crucial to their success. However only 25% of these teams are “data-driven”. Without an essential source of real-time data, important decisions are often made using intuition and experience and can cause issues when it comes to managing projects.

An effective solution is to centralize the creation and management of project information within a PMO team. In this way you can create a dashboard that is filterable and displays the most relevant information to 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 project’s schedule. This will help you prevent any surprises based on bad assumptions or expectations that are not realized by the data you have.

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