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By Amy DeWolf
Are you doing any of these in your organization? How
are you leveraging historical data to forecast projects?
There’s
a lot going on in government today. The economic pressures agencies feel from
the uncertainty of budget cuts and sequestration effect every part of an
organization, including the Project Management Office (PMO). The PMO is
responsible for monitoring and administering government IT projects. As time
goes on, priorities shift, technology advances, and new regulations are
imposed, all of which make planning and executing projects more
difficult. For example, think about your own projects. How many
boxes do you need to check and hoops do you need to jump through to ensure you
comply with new regulations? While new regulations and technology advancements
can be a good thing, they add an additional layer of complexity to already
complex projects.
To
overcome some of these pressures, particularly new regulations, many in the PMO
world are adopting a new approach- Project Intelligence (PI). According to a
new Oracle Primavera white paper, The Rise of Project
Intelligence: When Project Management is Just Not Enough, “PI uses Business
Intelligence methods to leverage historical project data to make more informed
decisions and greatly enhance project execution.”
Currently,
project managers plan and forecast the possible phases in an execution
cycle. However, most project managers don’t have the proper tools to do
this as effectively as they would like. As the white paper noted, “The
underlying deficiencies in most forecasting approaches are that 1) the PM
fails in most instances to leverage historical data and 2) the PM doesn’t
employ current Business Intelligence tools.” PI seeks to overturn this by combining
modeling tools used in Business Intelligence for projects with the
understanding of Emotional Intelligence for managing people.
Simply
put, Project Intelligence is built off four main pillars:
Actively
use historical data to forecast project cycles
Understand
the intricacies of complex projects
Enhance
social and emotional intelligence in projects
Actively
use Business intelligence tools
Read our
complimentary whitepaper and discover the importance of emotional
intelligence and best practices for improving projects, specifically in terms
of communication.
