How Big Data Is Boosting Project Management For All Industries

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Big data is an integrated part of the routine of project management since these are the information that allows knowing better the market, the objective of the proposal, its conduction, the best practices for its development and much more.

Determinants for a positive outcome at the end of the project, this data cannot be waived in any way, but rather can be better worked to maximize efforts and make project management much more comfortable, faster and more efficient.

Although this optimization is not yet a reality for most companies, this transformation has gradually been designed and brought with it unique opportunities for improvement that could not otherwise be realized – after all, processing and analyzing in depth terabytes and petabytes of information is, unfortunately, humanly impossible. And that’s where Big Data comes in with JD Edwards!

This practically magical solution has arisen to gather as much data as possible on the management of various projects and to analyze diverse points of view simultaneously, detecting tendencies and identifying patterns that can contribute to the development of projects agile and with a quality each time best. But what will Big Data do specifically for project management? Well, that’s what you’ll see right now, checking out our post:

Optimization of the critical path of activities

One of the most significant difficulties in project management is determining the critical path, ie, the sequence of activities to be developed in such a way that they are chained in the best possible way, to optimize team time and resources.

As time is one of the three pillars of project management, with the help of Big Data, it is possible to determine the most flexible points, where one can allow certain delays, and the locations where one just cannot go wrong.

It is undoubtedly a thorough study and depends a lot on the experience of the project manager, but Big Data technology is there to calculate that path as accurately as possible, based on data collected from previous proposals, competition projects and reports lessons learned, for example.

Efficient Vulnerability Analysis

Analyzing project vulnerabilities also requires a good foundation of experience, which may not always – or should – be solely based on the memory of the project manager or a team member.

In this scenario, Big Data can provide relevant information about vulnerability points in the project only by confronting structured and unstructured data from diverse sources, thus creating patterns and detecting tendencies, connections that the human mind can hardly do with the same accuracy or the proper agility.

Overall improvement of project quality

Knowing exactly where a problem occurred, when it was detected, when it was solved, and how much of the project budget the solution consumed is a set of critical information to maintain project quality.

As project management must always be based on efficiency, that is, on the best use of resources throughout the development of activities, it is still necessary to seek the optimization of the process. With Big Data, detecting any shortcomings in the project in advance and determining best practices for developing new proposals becomes much simpler. All this without mentioning the team productivity guarantee!

How will Big Data affect Project Management?

The project management tools, which are already widely used in the project offices, and in which all of them load the data, reports, analyzes, predictions, etc., generate a large amount of information. We have an EXCESS of INFORMATION, and the client only cares about the right data, the data that makes your business grow.

This is both an opportunity and a challenge at the same time.

  • Opportunity: Real-time analytics of the amount of data that comes from projects can add enormous value to the rationalization of project management processes and the identification of early warning signals for them.
  • Challenge: How do we make all these data legible for those interested?

As the use of Big Data is put to the test in project management, many other benefits will come to the forefront and can even compose a customized big data solution. Just rely on the tool’s potential and work it to your advantage.