Are you sure the decisions you are making are based on reality? #
Why make decisions on poor information – garbage in, garbage out?
Updated information is crucial in project management decision-making for several reasons.
Outdated information will be dangerously misleading; Exepron’s intelligence and your successful delivery of valuable projects require quality information.
Tasks that have not been updated within 2 days can mislead your decision-making. Start with the Red tasks on a project. Then, the Tasks that are due for the current week. For most projects, there will not be many Tasks requiring updating.
The High-Frequency Updating of Tasks on all Started Projects is critical for:
Accuracy: Updated information ensures that decisions are based on the most current and accurate data available.
Risk Management: Exepron’s intelligence enables project managers to promptly identify and address emerging risks, reducing the potential negative impact on the project.
Relevance: It helps project managers focus on the critical emerging issues and priorities, avoiding wasted effort on outdated or irrelevant information.
Competitive Advantage: In some cases, having access to updated information can provide a competitive advantage by allowing for faster and more informed decision-making than competitors.
Client Satisfaction: Keeping clients or stakeholders informed with up-to-date information can enhance their satisfaction and trust in the project management process.
Continuous Improvement: Updated information allows project managers to learn from past decisions and apply lessons learned to future projects, promoting continuous improvement in decision-making processes.
Timeliness: Decision-making often involves time-sensitive issues. Updated information allows project managers to make timely decisions to keep the project on track.
Resource Allocation: Updated information aids ineffective resource allocating, ensuring that the right resources are assigned to the right tasks at the right time.
Progress Tracking: Monitoring project progress against established milestones and goals, helping project managers adjust priorities as needed.
Communication: Updated information facilitates transparent communication with stakeholders, providing them with accurate and current project status updates.
Budget Management: It supports effective budgeting and financial decision-making by providing up-to-date cost and expenditure data.
Scope Management: Ensures that project scope remains aligned with the project objectives and can be adjusted as necessary based on changing circumstances.
Quality Control: Updated information helps maintain and improve project quality by identifying deviations from quality standards and taking corrective actions.
Decision Confidence: Decision-makers have greater confidence in their choices when armed with current data, reducing uncertainty and improving the likelihood of successful outcomes.
Regulatory Compliance: It ensures that the project adheres to relevant regulations and compliance requirements by keeping track of any changes in legal or regulatory frameworks.
In summary, updated information is essential for informed, efficient, and effective project management decision-making, as it directly impacts the success and outcome of a project.
