The most successful teams for projects rely heavily upon accurate real-time data analytics. Many organizations are still struggling to fully adopt data-driven practices.
This is due to the fact that a variety of people are involved in creating project information, including engineers, vendors Automation groups, contractors and even engineers. These groups are working on projects throughout the globe and relying on spreadsheets systems, systems, and documentation methods to share and exchange information. It can be difficult to ensure that the information that reaches the key decision makers is correct as well as consistent and easily accessible.
73% of project managers believe that high-quality data will be critical to their success. However, only 25% of these same teams consider themselves “data-driven”. Without an essential source of real-time data, important decisions are often based on instinct and experience, which can lead to issues when it comes to managing projects.
Centralizing the creation and management project information within the PMO is a good option. By doing this, you can create a dashboard with filters that display the most relevant information to everyone on your team. This will enable you to spot and fix problems like poor pipeline capacity or a lack of resources prior to them having an impact on the project schedule. This will also help keep any surprises from incorrect assumptions or expectations that are not met by the data you have.