Business intelligence (BI) is used by big corporates for data analysis and strategic planning. The term is surely creating enough sensation in the world of business, more specifically in project management.
In this article at Projility, José Marroig explains that if a user aims for achieving success through BI, he must build faith in it. The organizations that are constantly in search of ways to pull data to analyze their progress, BI can show them their current and future state.
Need for Intelligence
Most of the PMOs focus on management over setting objectives or strategies. However, data analysis is more objective to collect and evaluate each project accomplished or in process. To succeed, PMO needs management along with intelligence which is possible only with the implementation of BI. It brings procedures and techniques to aggregate vital information, enabling the PMO to adjust operations to achieve desired outcomes.
Even though BI is attractive enough for the PMO, its implementation cannot be done overnight. The process is lengthy, and each employee needs to understand its value. For this, it is mandatory to understand these five core beliefs of data-driven PMO:
- Information is not limited to a senior manager or analyst. Therefore, the data should be available for each individual in the organization to add meaning to each role and department.
- Since each project tracks the same information and metrics, standardized data has more power and value.
- Data is helpful in performance improvement as it brings transparency to the PMO.
- Since collaboration is key to progress, it empowers the organization to be productive and innovative.
- Decisions related to project prioritization, resource allocation, and even budget circulation should be factual and not virtual. This means all business decisions should be data-driven.
The author believes that establishing PMO intelligence might take years, but with the availability of robust solutions, the progress might speed up. Click on the following link to read the original article: https://www.projility.com/integrating-business-intelligence-into-your-pmo-culture/