There is no silver bullet that will allow us to remove all uncertainty, but we can apply some business intelligence practices to the concept of annual planning to at least increase our confidence levels and reduce the risks around the decisions that we make.
What does BI mean to a portfolio?
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Project portfolio management tools are becoming more widespread and more powerful, but are we fully leveraging them as well as we might? There could be some exciting things possible if we combine a PPM database with a BI tool.
Guiding a business or a project often comes down to making intelligent data-driven systematic decisions. Being able to answer four questions will help.
Successful BI initiatives take more than just people, technology and fancy tools. They require proper levels of engagement of BI teams with key stakeholders; coming to grips with legacy system shortcomings and realities; and a strategically aligned commitment.
Making good business decisions while managing a portfolio often comes down to gathering the proper data and creating useful business intelligence. Here's some advice on four critical stages of the process.
To be able to adequately determine the schedule and cost status on a project, a well-conceived Performance Measurement Baseline (PMB) must be developed. Organizing, scheduling, and applying the proper resources needed to accomplish the work are essential to building and subsequently maintaining a PMB.
While Project Portfolio Management (PPM) has been around for many years, the benefits of it are finally starting to show presence. This presentation will review how one healthcare organization implemented a PPM solution with a solid governance process to collect data and create valuable financial information for management decision making.
As project manager for a newly rebooted team, this author supported its natural drive for a culture emphasizing work order data integrity. A key ingredient for the project’s success was approaching the transformation project through the role of a “scribe.”
Every project has an ample amount of data. It’s at a PM’s discretion to use it effectively. Do statistics and data analytics scare you? In this article, the author shows how very simple statistical concepts can be applied in project situations—and how PMs can make effective decisions based on that.