Ask anyone if their life hasn’t changed since the coronavirus outbreak and I can almost guarantee there isn’t a single person. Regardless of where you are in the world, life as we know it has forever changed in ways we may or may not have seen coming. And whatever fact or fiction is said by government officials, healthcare workers or the media, the truth is we are all in this together.
For Project Businesses, whether it’s adjusting to working from home, operating with a smaller workforce or managing a major dip in productivity, it can be difficult to see any semblance of positivity amidst all the negativity happening around us. But let’s take a step back and try to find the silver lining. Let’s look at this difficult time as an opportunity to reassess and re-evaluate our business processes and how we can not only hit the ground running when things get back to normal, but how we can diversify and grow in the long term.
Analyzing Data is Key to Preparing for the Future
Project Businesses need real-time insight to transform their companies into high-performing enterprises in their industry. Real-time day-to-day project insight across the entire organization can enable efficient and effective collaboration between controllers, planners and resource managers to all project team members. With all that in mind, it should come as no surprise that analyzing real-time data is key to making important business decisions. But let’s face it, COVID-19 has had a tremendous impact on the productivity of Project Businesses.
However, now might be the perfect time to take a step back and analyze past data, alongside real-time data to find ways to be more efficient and productive when the time comes to move full steam ahead. Unfortunately, if all your data is spread all over the place, it can be a challenge to integrate the data into something comprehensive and actionable. That said, Project Businesses need to take advantage of the cloud and create a strategy that allows your organization to consolidate all your project data into one solution.
Download the Project Business Automation Blueprint to learn more about PBA and how it works.
Finding a Way Forward
As mentioned in previous blogs, Project Businesses face a lack of standardization and integration. Business processes aren’t uniform and are left to individuals who take extreme liberties with them. Project Businesses often function in a non-integrated, disjointed fashion, resulting in poor visibility into the current status of projects and lack of control over the operations of the company.
With the onset of COVID-19, Project Businesses need to use this time to restructure their Project Business processes and find a solution where all project functionality (finance and accounting, management and operations, and analytics) sits in one system. Take advantage of this opportune time to see how you can make changes to be more productive, deliver more projects on time and within budget. You might not have otherwise had the time or taken the time to do so.