Project Controls and the Evolution of Decisions

6 February 2024

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Project Controls and the Evolution of Decisions

The key differentiator between successful and unsuccessful projects often boils down to the effectiveness of project controls. They serve as the foundation for informed decision-making within projects. They establish critical processes for monitoring, analysing, and managing various project aspects, encompassing cost, schedule, scope, and quality. Through the establishment of transparent metrics, benchmarks, and performance indicators, project controls empower project managers to evaluate progress, detect issues, and make timely, well-informed decisions. This data-centric approach amplifies visibility into project dynamics, enabling teams to swiftly respond to deviations from the plan and make necessary adjustments.

Nevertheless, in an era where a project manager has to interpret and process increasingly more project data with reduced time, the challenge becomes how to select the right data for your project controls and implement effective decision-making processes.

At MIGSO-PCUBED, we aim to address these questions, taking you on a three-part journey, outlined in this article, from grasping the fundamentals of project controls to exploring the integration of AI within project controls to bolster decision-making. So, whether you represent a company setting up project controls, an aspiring professional seeking knowledge, or simply someone with a keen interest, be sure to explore our blog, discussions, case studies and events on the website.

From Instinct to Data-Driven Decision Making

Making critical project decisions has always been a formidable task, and as projects grow in complexity, these decisions become even more daunting. With the escalating volume of data, the time available for data analysis dwindles, forcing many project managers to rely on their instincts.

While intuition serves as a vital “sixth sense” for project managers and business leaders to identify opportunities, it should not substitute for reason. Over-reliance on intuition introduces risks that can jeopardise any project. Hence, we’re focusing here on the evolution of decision-making processes from instinct-driven decisions to the establishment of controls that facilitate data-driven decision-making.

By examining this progression, we emphasize the importance of project controls, of evaluating your current status through health assessments, and of establishing the groundwork for project controls within your project. This includes defining key roles and responsibilities and determining the most suitable project controls and data needed to help you make the right decisions.

From Reactive to Proactive

Unforeseen events often disrupt even the most meticulous plans; however, embracing a reactive approach to project management tends to compromise work quality and divert attention toward immediate issues instead of focusing on long-term planning.

Proactive project management empowers us to regain control of our time and allocate it to planning and anticipating problems. Robust project controls enable the establishment of repeatable processes that facilitate the anticipation of potential issues, allowing project managers the time to proactively implement measures to address these challenges.

MIGSO-PCUBED plays a pivotal role in supporting these aspects by providing comprehensive information on what these controls encompass and guiding companies on how to enhance their capabilities and maturity. Our expertise sheds light on the pivotal role of technology in establishing repeatable project control procedures, the effectiveness of dashboards in visualising data, and the importance of selecting the most relevant data for your dashboard. Furthermore, we offer valuable insights into how cutting-edge project management software, can streamline processes, ensuring that your company takes a proactive approach to tasks and deadlines.

What’s on the Horizon?

The Harvard Business Review anticipates sweeping changes in the field of Project Management by 2030. Techonological advancements such as AI and machine learing are expected to enhance prioritisation, reporting, control, and task management. They envision a CEO using an AI-powered app to make decisions regarding risks, changes, and project plan adjustments, allowing project managers to focus on team coaching and leadership. Gartner goes a step further, predicting that AI will manage 80% of project tasks by 2030.

MIGSO-PCUBED is constantly scanning the horizon and maintaining a future-focused perspective. In this context, our efforts involve providing case studies, demonstrations, and discussions that explore the future of decision-making in project management and project controls. Our commitment extends to highlighting the benefits of digitized controls, leveraging ecosystem data, and our ongoing exploration of the AI landscape to ensure we stay ahead of the curve. This includes our strategic collaboration with AI software innovators, Greyfly, as we push the boundaries of innovation together.

Ensuring long lasting project success

Project controls play a critical role in project decision-making, encompassing various processes and roles. In a world where data volume is constantly growing, and the time for interpretation is shrinking, relying on manual processes and intuition can jeopardise your projects.

At MIGSO-PCUBED, we empower you to achieve project success through data-driven decision-making, strategic data utilisation, and cutting-edge technology integration. Bid farewell to uncertainty and embrace efficiency as we lead you towards streamlined, automated processes that not only meet but surpass your project expectations. Join us today to elevate your project management to a whole new level!

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This article was written by Oliver Heald Consultant.