Technology can enable predictable and repeatable project delivery. We have found that both the implementation process and the actual adoption of software enables companies to make significant strides towards improving project predictability. With a common data environment and thus access to historical data, companies can also see improvements to project repeatability.
Here are some ways technology can be used to achieve this goal:
- Standardizing the work product: Many companies have developed their work process iteratively over many years to varying degrees of internal standardization. By rolling out a structured platform, each team member now follows a uniform process. This reduces variability and gaps due to individual practices. Moreover, the structure allows a company to set and maintain templates more easily.
- Enabling efficiency and accuracy: Giving your team access to a single platform in which to perform their work reduces the amount of data reentry and rework they have to do. This both optimizes their efforts and also reduces any inadvertent errors in copying data.Contributors now have more time to proactively identify and clarify early-stage assumptions.
- Tracking key project details in real-time:The same software can be used to plan, schedule, and track project budgets, resources, and timelines. This can help ensure that projects are completed on time and within budget by flagging immediately when actuals are diverging from plans.
- Collecting historical data: Historical data can be used to establish benchmarks for performance and to measure progress over a project’s lifecycle. Additionally, historical data can be analyzed to identify patterns, trends, and insights that can be used to improve future planning and decision making.
By implementing a project controls software, teams can gain a better understanding of project risks and performance to decrease the likelihood of delays and cost overruns.