Advanced data analytics and AI is having a significant impact in multiple sectors, but project delivery is a late adopter. Examples are beginning to emerge which will disrupt the wide range of professions that encompass project delivery.
Organisations and individuals have a choice; to shape implementation, disruption and be a positive force for change or to become disrupted and react to emerging events. Whatever your role or level in your organisation - C-Suite, sponsor or director, project delivery, change or business analysis specialist, academic or consultant, and whether you’re starting out in your career or a seasoned professional, you have a choice to make about how you respond to this challenge.
The Project Data Analytics Task Force exists to facilitate a Project Delivery Transformation. However, the vision will only become a reality if we work collegiately. It is an opportunity for everyone, at every level to play their part.
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Project management creates between £150-170bn of economic value annually in the UK. Yet, the effectiveness and efficiency of productivity remain stubbornly low. PMI’s Pulse of the Profession studies frequently demonstrates the high cost of low performance, as projects fail to meet original goals or business intent, finish late and over budget, experience scope creep or are deemed to be outright failures.
The analysis by the University of Oxford’s Prof. Bent Flyvbjerg and Dr Alex Budzier on ~12,000 global major projects concluded that the probability of a project being delivered on budget, on time and delivering the benefits defined in the business case is only 0.5%
According to recent RICS reports, 95% of project data is used once only and never used again. And yet, by leveraging the rich seam of project delivery data that exists across the profession, we have an opportunity to make a step-change in project management - delivering more projects for less, with a significantly increased return on investment and a high degree of confidence.
About Project Data Analytics Task Force
A collaborative venture to deliver a step-change in project delivery performance
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