How Data Analytics Can Transform Your Project Management Organization

Monitoring work completion rates to ensure that projects are meeting their deadlines or planning capacity to achieve quarterly and yearly business goals, the most successful project teams rely on project data accurate real-time data analytics. However, many companies struggle to be fully data-driven.

This is because various individuals are involved in the production of project information which includes engineers, vendors as well as automation groups and contractors. These groups are working on projects across the globe, and relying on spreadsheets as well as systems and documentation methods to exchange and share information. It can be difficult to ensure that the information that reaches the key decision makers is correct and dependable.

While 73% of project managers claim that high-quality data is essential to their success but only a quarter those same teams describe themselves as “data-driven.” Without an centralized source of pertinent data, real-time information, many crucial decisions are based on intuition and experience which can be a major problem when it comes to projects.

Centralizing the creation and management project information within the PMO is a good option. In this way you can build an easily-filterable dashboard that displays the most relevant data to everyone in your team. This will enable you to spot and fix issues like inadequate pipeline capacity or the absence of resources before they cause an impact on the project schedule. This will help you avoid any surprises that may arise from bad assumptions or expectations not being fulfilled by your data.