Advanced data analytics provides us with an opportunity to reimagine project assurance. Augmenting human decision making and interventions with the support of an unblinking eye.
Consider a world where we can measure project success rates with the same level of precision as modern cars equipped with lane departure warning systems and fatigue detection systems. Imagine applying advanced project data analytics and AI to create a "no-surprises-ometer" that identifies issues as soon as they emerge, and a "deception-ometer" that detects any manipulation of project data.
What if we could certify projects that consistently deliver more value per unit of resource than non-governed projects through the application of these tools? This futuristic vision is now becoming a reality through the power of advanced project data analytics and AI.
Using this approach, we can overcome strategic misrepresentation, providing assurance that projects are on track to deliver their intended benefits. Advanced project data analytics and AI also enables us to turn over every stone and identify every issue, preventing project failure and maximising project success rates.
The automotive industry has already successfully applied this approach, using advanced data analytics systems that provide an unblinking eye to enable corrective action before a crash occurs. Similarly, advanced project data analytics and AI can help reduce the cognitive load of managing a project and allow project managers to focus on higher-value tasks, like a passenger or co-pilot helping to reduce the cognitive load of driving a car.
In conclusion, advanced project data analytics and AI offer a powerful tool for reimagining project assurance. By creating a class of certified "gov-ometered" projects that consistently deliver more value per unit of resource than non-governed projects, we can provide credible and independent insights grounded in data and hard evidence. This approach ensures that every stone is turned over and every issue is identified, overcoming the critical challenge of project assurance, which is that it is done on a sampling basis. And like self-driving cars, advanced project data analytics and AI can free project managers to focus on higher-value tasks while ensuring that their projects are on track to deliver maximum value.
Martin Paver & Jake Williams are leading the work on the Visions for 2025. Martin is the Founder and CEO of Projecting Success and former Chair of the Project Data Analytics Task Force. Jake is a Product Manager at Projecting Success. Please check out the LinkedIn post on this topic.