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FInalPresentation.pptx
Big Data Analytics & IT Project Success
Zalak Shukla
Overview of Research
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In 2014, The Standish Group held a survey that covered 175,000 IT projects (totaling up to $250 billion in cost).
The most interesting statistics were: 31.1% of these projects were cancelled before completion and 52.7% of them were up to 189% of their original cost.
During this research I found out that big data analytics could be used to identify factors that lead to such levels of failure even before they happen.
Research Problem
Now that failure has become part and parcel of the experience of managing IT projects, how can we leverage big data analytics to ensure that this becomes a thing of the past?
Benefits, Drivers & Scope
The benefits of this research would be coming up with a working solution that would help project managers avoid the failure of IT project.
The main drivers behind this research are:
Wastage of money in IT projects that fail
Waste of other resources: time, labor, and procurement
Reputations are at stake for those firms that can’t deliver on IT projects.
The scope of the project covers how big data analytics can help in eradicating factors causing project failure.
Recommended Solution
Big data analytics will collect and analyze project data during its life cycle.
The analytics process will then identify patterns that could lead to the failure of the project.
The project manager and team would then use the recommendations to improve their decision-making.
Benefits for Project Management Plan
In PGMT 699 I shall take this idea and implement it and perhaps get an entire PMO to adopt it.
Thus, my PGMT 699 project management plan will track the entire process of setting up big data analytics in a project management environment.
The goal will not be to set this up within an individual project but within an organization.
This is because the data that is collected in one project could prove quite useful to other projects.
Conclusion
Big data analytics can be the end of failure within IT projects.
A system that takes in project data and analyzes it can be implemented by the project management organization.
This system can then be used by managers to keep track of their project performance metrics.
Better decisions from the metrics will lead to projects that are less erratic and thus less prone to failure.
Summary
Understanding how to make IT projects a success has been the topic of research for over two decades.
The close to 50% failure in all IT projects is a huge concern and will continue to be a huge concern for the next few decades.
During this research a new idea is introduced: given that big data analytics is used to solve problems in many other problem domains, it can surely be used to ensure the success of IT projects.
From the research it becomes clear that this is actually quite possible but still underdeveloped.
There is a lot that is to be done before big data analytics becomes a major tool in tackling project management failures.
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