Project data refers to the numbers, estimations and statistics that are collected and analysed during construction projects. These data can be used to improve project outcomes and process efficiency. Properly managing these data can help reduce risk and increase profit.
The first step to analyzing data for a project is to identify the objectives and the people who will be using it. The next step is to determine the sources of data. Then, it’s important to verify and validate the accuracy of the data and to identify mistakes or gaps. The results of the analysis should be shared with all stakeholders.
What is the best way to organize project data?
The best way to organize project data is by creating clear and accessible reports. This will make it much easier to analyze data and determine areas of improvement or opportunities.
There are many ways to make a document for instance, using an Excel spreadsheet or graphical dashboard. However, the most important thing to do is ensure that the report contains the information needed by the project manager and other stakeholders.
If the project has a budget to be monitored it’s beneficial to prepare an account of the projected amount vs. the actual expenses to allow for adjustments. A report that provides the number of hours that resources work is useful in monitoring the availability of staff and ensuring that the project is meeting its scheduled commitments.