How to Analyze and Use Project Data

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Project data is the collection and analysis of numbers, estimates and figures during construction projects. Properly using these data helps to improve process efficiency and guarantees project success. Properly managing these data can help to decrease risk and increase profit.

The first step to analyze project data is to comprehend what the purpose of the analysis and who will be using it. The next step is to identify the sources of the data. It is important to confirm and verify the accuracy of the data, and to identify any gaps or errors. The results of the analysis should be shared with the stakeholders.

What is the best method to organize project data?

The best way to organize project data is by creating easy-to-read reports. This will help you examine the data and pinpoint areas for improvement or potential.

There are a myriad of ways to design an report, such as using the visual dashboard or an Excel spreadsheet. The most important thing to remember is that the report should contain the information required by the project manager or stakeholders.

If the project has a budget to monitor it’s beneficial to create an account of the projected expenditure vs. the actual expenses to allow for adjustments. A report that reveals how many hours the resources have worked is also useful to track the availability of staff and making sure that the project meets its time-bound commitments.