Project managers must be fond of numbers. Most of their goals are related to crunching numbers and analyzing the results. A perfect and accurate performance analysis or project dashboard is a suitable solution to help.
It is where project maintenance and analytics trends come together in agile project management
: conditions and tasks dictate the form of execution. But it's not all as easy as it might seem.
In fact, a recent report shows
that 97% of executives said their organizations aspire to a data-driven culture, while only 26.5% said they were successful. Organizations have invested trillions of dollars in modernizing their businesses, but 70% of these initiatives
failed. It happens because companies prioritize technology investments without creating a data culture to support them.
A toolset capable of collecting all the company's information, both internally and externally, helps to avoid falling into bad practices that promote exploitation and mismanagement of data. In this way, we can state: anything that is not measured cannot be improved. Project management is no different. Just as you can track and analyze any other business field, you should apply the same analytics approaches to project management in real time.
Advanced analysis entails effective management of project uncertainties and risks. It requires modern project managers to use analytical techniques to monitor and control risks and estimate project schedules and costs more accurately with analytics-based forecasting.
Using a BI connector
or data integration solutions enabling streamlined data management to decipher specific patterns and trends could come in handy. Project managers can use such tools to determine how projects are performing, establish a need for resources, and make strategic project decisions based on the insights.