Data Analytics for Programme Delivery
Successful Programme Delivery requires investment in a strong Digital PMO, to provide the necessary assurance and control, and deliver the agreed objectives across the ecosystem, including realisation and measurement of business value, effective and efficient resource management, and on-time delivery to time, cost and quality.
NWT understand the PMO and its history of evolution. Senior decision makers have developed long term and better-informed technology perspectives and understand how technology can support their business. Whilst inheriting the role of the traditional PMO, the Digital PMO needs to provide a service to ensure that business cases are scrutinised and delivered, and solutions are being delivered that show demonstratable evidence of results with reduced risk and the highest gain.
The key to the Digital PMO is data and the presentation of the key information to each relevant stakeholder, at any time, on any device. It is real-time data processing and analytical interpretation, made available in a timely fashion to inform business decision-making and allows business owners to retrieve relevant digital transformation data at anytime from anywhere. Therefore, the Digital PMO is about data processing and analysis coupled with automation. A classic PMO spends nearly 50% of its time collecting, checking, and compiling data. A digital PMO shifts that effort to defining data mining strategies and allows the business to spend more time on analysis and decision-making.
Data analytics and business intelligence capabilities have moved from nice to have to essential in recent years, with business leaders identifying the importance of having access to accurate and timely reports, dashboards and visualisations to help them make better and faster decisions, across all core areas of the business including:
Here at NWT, we also believe data analytics plays an important role in project and programme management, where making better and faster decisions can have a significant impact on delivering successfully. Here are the key areas:
The benefits of using data analytics to support programmes and projects are not limited to those that are already underway, as it can also help inform the business and project teams which projects to prioritise over others.
For example, data analytics can help provide visibility of customer feedback provided via customer service channels, reviews, social media and surveys to help decide which project to prioritise to deliver a better customer experience.
Alternatively, data analytics can help identify which project should be prioritised to make an impact on costs by reporting on areas where teams are spending too much time on certain tasks due to a system problem or spotting areas to streamline procurement by adding new functionality.
Planning and tracking
Establishing data analytics at the start of a programme or project and continuing to harness them throughout the project lifecycle enables project managers to keep track of key deliverables and how they are impacting the critical path and project milestones, without having to dedicate valuable time to pull all the information together manually.
Having access to these key project KPIs enables them to make better and faster strategic decisions on areas such as resource allocation, team communication, budgets and stakeholder updates.
Modern data analytics linked to machine learning can help take this a step further by enhancing trend analysis and delivering powerful predictive analytics to help identify potential risks to the project or programme.
Data analytics can help project teams identify key areas for focus, whether they are positive or negative to a successful project outcome. This supports relevant stakeholder communications where findings can be played back to the business.
Business intelligence reports and dashboards linked to the data analytics help project and programme managers highlight the project success factors visually to stakeholders quickly and efficiently based on evidence.
In March 2019, Gartner Inc suggested that `by 2030, 80 percent of the work of today’s project management (PM) discipline will be eliminated as artificial intelligence (AI) takes on traditional PM functions such as data collection, tracking and reporting. By adopting a Digital PMO approach today and embracing the NWT service to introduce Data analytics into your Programme Delivery environment, organisations can start today by automating a number of their tasks and processes related to data collection, monitoring, tracking, and reporting. Providing analysis and insight which is where the real value add is for the business stakeholders.