Project Management Competing Demands
How can you better communicate Big Data Project Management tradeoff’s with Leadership? You need a simple approach for positioning information. I remember when I was working at Tandem Computers in the Manufacturing New Product Introduction (NPI) Program Office. I added to the standard project management template the prioritization of the Iron Triangle factors, e.g., cost, time, schedule and quality. It was exciting to move from mastering the craft of the complex project charter components and global team contributions to now having a leadership discussion on what is important to the organization.
Chris Nott does the same thing for Analytics project team decision. In an IBM blog post he builds on the foundation of big data’s varying number of Vs: volume, variety, velocity and veracity to key analytics project factors to consider. These guiding principles can be used to inform the leadership team and stakeholders on features, training and timing. I have added the project management implications for his approach.
Confidence: What is the data architecture and data science behind the features? Do we need to educate business stakeholders on the tradeoffs made and possible suggest a staged approach to data-driven projects?
Context: Per Chris – Understanding context requires understanding who is asking the question and why. I consistently see that outsourced or offshore teams can make assumptions about the requirements. Projects need to have facilitated sessions and liteweight documentation about what this question is being asked, what is the value of answering it and not to over-constrain the solution.
Choice: Opting for a particular technology platform and analytics tools represents the third C of big data—choice. Infrastructure architecture and buildout needs to be completed quickly at the beginning of a project to reduce the time to outcome perception by the business user. Yet, continuous review of architecture needs to be completed by a cross-functional team during all iterations as technology is changing fast and proof of concepts are hardening into production ready systems.
Great insight on how to use Confidence, Contest and Choice to easily introduce tough and complex analytics project tradeoffs during big data project execution.
The big problem of #BigData: incomplete, fragmented data sets and knowledge at NGO’s yet start right by asking the right questions on how to improve organizational performance. https://t.co/ctyP0XzufO
Sourced through Scoop.it from: www.devex.com
Inspiring NGO Big Data Examples: The big problem of Big Data is incomplete, fragmented data sets & knowledge. Yet start an analytics project right by asking the right questions on how to improve organizational performance.
Example: Drill down from high-level “what do you need on a Monday morning” to “How am I performing?” which would then be refined to, “In which areas of health am I failing the most, as of one month ago, and which specific clinics are contributing the most to my nonperformance?”
Here’s how Amazon Prime, Heineken, and BuzzFeed do Analytics.
Sourced through Scoop.it from: hbr.org
Do you ever see an article you wish you wrote? Well HBR article is it for me as I believe in chasing the business problem vs only looking at only the data & anticipating that it may provide insight. HBR agrees & counters the common wisdom of looking at data first to “find” insights and instead states that “Companies that have been successful in harnessing the power of data start with a specific business problem and then seek data to help in their decision making.” It then provides 3 examples; Amazon Prime, Heineken and Buzz Feed. A short yet powerful read! https://hbr.org/2016/08/extracting-insights-from-vast-stores-of-data?
Rich Wagner, president and CEO of Prevedere, shares six guidelines he’s developed based on his own experiences seeing good data left to waste at major enterprises, including the Fortune 500 chemical company where he once worked.
Sourced through Scoop.it from: www.informationweek.com
Leaders are launching Analytics and Big Data projects to help organizational performance. Why? The Economist Intelligence Unit found data-driven companies rate themselves substantially higher in terms of financial success than others do
Rich Wagner, President and CEO of Prevedere provides insight how do to take early moves:
Look forward, not backward: Go solve a business problem as “Executives needed to know what was going to happen, not what had already occurred.”
Determine the question: Be clear on what questions are needed to understand or solve the Business Problem “Before searching for answers, it’s critical to know what key questions your data should answer.”
Rethink your data sources: Many familiar initiatives are internal data yet “I have found nearly 85% of a company’s performance is dependent upon external factors” so how do you acquire this info?
Don’t go it alone: Partner with vendors who have solutions.
Automate: If the experiment was a success, optimize to make it available as a real-time system.
Mind your presentation: Make answers “part of an existing process” rather than a new awkward bolt-on.
Project Teams can work to manage business disruption by following these guidelines and help their organizations transition into data-driven enterprises.