Project data is the collection and analysis of numbers, estimations and statistics in construction projects. The proper use of these data can improve processes and assures the success of projects. A proper management of these information can help reduce risk and boost profits.
The first step to analyze project data is to understand what the purpose of the analysis and the person who will utilize it. The next step is determining the sources of data. Then, it is important to validate and verify the accuracy of the data as well as to identify mistakes or gaps. The conclusions of the analysis need to be made available to all stakeholders.
What is the best method to organize the project’s data?
Reports that are simple to comprehend and use are the best method of organizing data. This will enable you to more easily look over the data and determine areas for improvement or potential.
There are a variety of methods to create an report, such as using graphic dashboards or an Excel spreadsheet. However, the most important aspect is to ensure that the report is able to provide the information that is needed by the project manager as well as the stakeholders.
If the project is governed by a budget, it’s helpful to generate an outline of the projected expenditure vs. the actual expenses to allow for adjustments. A report that reveals how many hours the resources have worked is also helpful for monitoring staff availability and ensuring that the project will meet its schedule commitments.