Project Management Symposium 2021

Transitioning to Data-Informed Decision-Making in Projects

In the era of big data and the ever-increasing flow of information, the use of analytics is now widespread across industries, with data analytics mainly used to help enterprises make better decisions. With project managers required to make critical project decisions on a daily basis, while projects in most cases remain falling short to deliver on their promises, a data-informed approach to decision-making in projects and project management is needed more than ever – the previously untapped capabilities of Data Analytics and Artificial Intelligence need to be leveraged to ensure that relevant project information is captured, while project professionals and decision-makers need to become more data-aware and data literate, towards more rational and sound decision-making in projects, based on both quantitative and qualitative information.

However, many project professionals still underestimate the importance of data in project management and decision-making, or simply do not know where to start in terms of transitioning to such a revolutionary approach.

Key Take-aways:

• Today’s decision-making processes in projects have increasing gaps that must be addressed with a data-informed approach
• Projects need to adopt Data Analytics and AI to cope with the increasing amount of information, and to ensure sound and informed decision-making in projects
• A data-informed approach to decision-making in projects is disruptive and will require a significant change in the project and decision-making culture in organizations