Whether it is monitoring the completion rates of work to ensure that projects are meeting their deadlines or determining the capacity of resources to meet quarterly or annual business goals, the most successful project teams rely on accurate, real-time data analytics. Many organizations are struggling to fully adopt data-driven practices.
This is because various individuals are involved in the production of project information which includes engineers, vendors Automation groups, contractors and even engineers. These groups are working on projects across the globe, and relying on spreadsheets as well as systems and documentation methods to share and exchange information. It can be challenging to ensure that the information reaches key decision makers is accurate as well as consistent and easily accessible.
73% of project managers believe that high-quality data will be crucial to their success. However, only 25% of these teams are “data-driven”. Without a central source of relevant real-time insights, key decisions are often from experience and intuition, which can lead to issues when it comes to to manage projects.
Centralizing the creation and management project information within the PMO is a good solution. This will allow you to create an interactive dashboard that can be filtered and presents the most relevant information to everyone in your team. This will enable you to recognize and resolve issues such as poor pipeline capacity or a lack of resources before they have an impact on the project schedule. This will also help you avoid surprises based on incorrect assumptions or expectations that are not met by the data you have.