Monitoring the completion rates of work to ensure that projects are completing their tasks on time or determining the capacity of resources to meet quarterly and annual business goals The most effective project teams rely on precise real-time data analytics. Many organizations are still struggling to implement data-driven methods.
This is due to the fact that a variety of people are involved in generating project information such as engineers, vendors automation groups, contractors and engineers. These groups are working on projects around the globe and relying on spreadsheets, systems, and documentation methods to exchange and share information. It can be challenging to ensure that the information shared with the key decision makers is correct and dependable.
While 73% of project professionals claim that high-quality data is essential to achieving success however, only a quarter of those teams identify themselves as “data-driven.” Without an centralized source of pertinent, real-time insights, many important decisions are based on intuition and experience which can be a major problem when it involves projects.
Centralizing the creation and management of project information within the PMO is a great solution. This allows you to create a dashboard that is filterable and presents the most relevant information to everyone in your team. This will allow you to identify and address issues such as inadequate pipeline capacity or the absence of resources before they cause an impact on the timeline of the project. This will help you avoid any surprises that could result from incorrect assumptions or expectations not being met by your data.