Whether it is monitoring the work completion rate to ensure that projects are on time or planning the capacity of resources to meet quarterly or annual business goals The most effective project teams rely on precise, real-time data analytics. Many organizations are still struggling to fully implement data-driven methods.
One of the primary reasons for this is the fact that a variety of individuals create project data, such as the engineering, vendors Automation groups contractors, operations and even contractors. These groups are working on projects across the world and relying on spreadsheets or systems as well as documentation methods to share and exchange information. It can be challenging to ensure that the information that is shared with the decision makers is accurate, consistent, and accessible.
While 73% of project managers believe that data of high-quality is critical to success but only a quarter the same teams are described 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 extremely problematic when it concerns projects.
A good solution is to centralize the creation and management of project information within a PMO team. In this way you can build a filterable dashboard that surfaces the most relevant information to everyone in your team. This will let you quickly identify and address issues such as inadequate pipeline capacity or a lack of available resources prior to affecting the schedule of your project. This will allow you to avoid any surprises that could result from incorrect assumptions or expectations not being met by your data.
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