Project Portfolio Management relies heavily on high-level reporting. The journey from a workgroup to the executive level might be a rocky one or wonderfully easy. What factors have an impact on the quality of high-level PPM reports? How can the data that powers portfolio-level reporting be guaranteed to be accurate?
What causes data to be skewed in the business world?
Human error (50%) and too many data sources, according to Experian’s Global data management report, are the most significant causes of a lack of data accuracy (39%).
Experian describes the issues that all data management techniques face: 89% of companies say they have trouble handling data. Delays in understanding (42%) and a lack of trust in underlying data are among the issues (40%).
Data reliability in PPM reporting
PPM is no different. Project Portfolio Management reporting depends heavily on data supplied by work teams. SoftwarePlant came up with a model chain of events that regularly distorts high-level data collection.
- Work teams prefer popular work management software, such as Jira or Trello, while the PMO and senior executives typically use specialised PPM tools.
- To keep the senior executives informed, project/product managers copy and paste data between different pieces of software.
- A human error, or equally often somebody’s hidden agenda (rounding data up or down to gloss over specific indicators), might affect the reliability and validity of data the PPM tool gets.
- PMO is updated on individual projects and products with a delay of one week or so.
- Senior managers get to know the progress of the whole portfolio a week late.
- One can question the reliability of the portfolio-level reports.
- Distrust occurs.
- The Single Source of Truth concept fails. The bird’s-eye view or big picture of an organisation is of poor quality and not live.
Is there a possible answer to the problem of PPM data reliability? We believe there is, and Execview provides the solution.
It would help if you kept work teams satisfied by allowing them to maintain their chosen tools for portfolio-level reporting to be functional. Execview integrates with all your major software, allowing users to import data from their preferred systems, ensuring that the data is high quality.
Execview takes on the heaviest load.
Our reports are automated, so you won’t have to waste time tracking and preparing reports because they’ll be done for you. 50% of project managers waste whole business days manually producing KPI reports if they don’t use a solution like Execview that automates reporting? The potential time corresponds to about 498 hours saved each year for the average employee.
Customers adore our scorecards. Scorecards are a feature of our platform that you won’t find in any other PPM software. They enable you to construct custom reports using data saved in Execview. Scorecards are adjustable and come with a variety of pre-built data views and presentations.
Execview also creates high-quality, automated progress reports in addition to scorecards. These include milestones, forecasts, graphs, and Gantt charts, and they serve as the foundation for your whole project page. Choose how often you want reports generated, whether daily, weekly, or monthly, to keep your entire organisation informed about project progress and needs. 78% of project managers who don’t utilise Execview believe their business is nearly always out of sync; you can fix this simply by using Execview to report.
Auditing and logging
All progress reports include a fully auditable log of all modifications made when and by whom, making it easier than ever to maintain security and keep track of changes. Once they have been created, you may secure reports, guaranteeing that any modifications made later create a new file, ensuring that vital information is never lost.
Because progress reporting is straightforward, it’s simple to distribute to project managers and personnel. Each stakeholder may have their perspective, ensuring that only those who need to know to see the information. Execview collects all the base data and data from other platforms, such as expenses, revenues, or volumetric data, maybe simply auto imported for reporting.
To find out more about Execview’s reporting capabilities, we have a webinar on Tuesday 16th December. Sign up on our homepage.