How Data Analytics Can Transform Your Project Management Organization

If it’s monitoring the work completion rate to ensure that projects are on time or planning capacity to achieve quarterly and yearly business goals, the most successful team members rely on accurate real-time data analytics. However, 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, including engineers, vendors, automation groups and contractors. These http://www.websecuredata24.com/secure-virtual-data-room-portal-for-file-sharing-and-its-pricing-plans/ groups are working on projects around the globe and relying upon spreadsheets, systems, and documentation methods to share and exchange information. It can be challenging to ensure that the information that is shared with the key decision makers is correct and consistent. It is also difficult to access.

73% of project professionals believe that high-quality data will be critical to their success. However, only 25% of these teams are “data-driven”. Without an underlying source of real-time data, important decisions are usually from experience and intuition which can cause problems when it comes time to manage projects.

Centralizing the creation and management of project information within a PMO is a viable solution. In this way, you can create a dashboard that is filterable and displays the most relevant information to everyone on your team. This will help you identify and address issues such as poor pipeline capacity or a shortage of resources prior to them having an impact on the timeline of the project. This will help you avoid any surprises that result from incorrect assumptions or expectations not being met by your data.