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Project Business Survival Depends on Real-Time Data

As we continue to ride out the COVID-19 pandemic, businesses are learning to navigate and adjust to the new normal. They are looking for ways to maintain productivity, safeguard their employees and customers, and plan for their long-term future.

Unfortunately, for many project-based companies (i.e. construction, engineering, professional services, etc.), it’s not so easy. With their unique products and non-standard business practices, attempting to prioritize the safety of their employees while implementing new solutions to enable better collaboration and project oversight can be quite the challenge.

However, now many project-based companies are searching for business solutions not only to continue operations during a pandemic, but also to increase productivity and collaboration to ultimately grow, scale, and diversify.

If there’s one thing the pandemic has taught us, it’s the importance of having the ability to make timely decisions, especially under pressure and when uncertainty is involved. In order to make importance decisions, however, you need real-time, reliable and accurate data and project KPIs.

The truth is many executives and managers of project-based companies don’t know if their projects are truly successful and profitable until after the project is done. It’s no wonder projects are often delivered late and over budget. Executives and managers simply don’t have that information available in a timely manner. If they want that information, they have to ask people to find, consolidate, and present it.

This process means executives end up making business decisions based either no data or unreliable data. And in some cases, they don’t make any decisions at all.

Bad Data= Bad Decisions

Without real-time project insight, there’s no way to detect any project issues early. If you’re able to identify a problem when it’s small, you can take swift actions to mitigate and possibly prevent it from becoming worse. However, the problem goes back to the traditional way project businesses have operated for decades, within project silos that do not integrate with one another.

Businesses must make data infrastructure changes to make better data-driven decisions. A recent survey found that 51 percent of technical decision-makers believe their data infrastructure will need improvements to help them recover from economic challenges; however, some of the roadblocks include data quality, deployment, and overcoming data siloes.

If you think about it, in the world of projects, it’s not what you know but when you know it that really matters. So, what you need is a solution that not only provides real-time data of your projects but gives you visibility into your project outcomes.

Real-Time Project Performance Data

Project Business Automation offers a different approach to managing project operations by providing a complete and real-time integration between your back-end ERP functions and your operational project management activities. Since your project plan should be the central entity against which all other operational activities are planned and managed, having all aspects of a project integrated on one system sets your projects up for success.

Download the Project Business Automation Blueprint to learn how PBA creates a streamlined, comprehensive system for project-based companies.

PBA brings executives and managers the real-time insight they need to transform their companies into high-performing enterprises. It gets the right information to the right people instantly. When all the project functionality lives in one system, you’re not only able to access project intelligence faster, but executives will be able to make decisions with the most accurate and updated information available. This is only possible with a completely integrated system.

Integrate all aspects of your Project Business in real time. We’ll show you how. Request a demo.

About the author

Matt Mong

Matt is a Vice President for Adeaca and is on a mission to create the Project Business Automation category in the market. He is leads Adeaca's thought leadership in project business. He has significant experience in high-growth ventures, helping companies gain awareness and position themselves as leaders in their industry.