Data analytics
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Financial and Project Management roles. Ability to analyze large data sets (10k's+) and provide insight. Demonstrated track record of driving process improvement. Experience in the IT space strongly preferred.
(A) Developing an accurate project cost forecasting method for the information technology department's $300M+ of annual project spend. We anticipate this will be a 6 month assignment.
(B) Experience managing/monitoring multi-million dollar (over $300 million dollars) IT projects simultaneously; what data you extracted to determine that the project were off schedule and could possibly be in crisis (or running out of time and financing); or what problems you may found and what recommendations you made to prevent going over budget and speeding up the implementation to maintain rollout deadlines.
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Solution Summary
Data analytics in forecasting are examined for project management roles.
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(A) Developing an accurate project cost forecasting method for the information technology department's $300M+ of annual project spend. We anticipate this will be a 6 month assignment.
Usually projects fail because costs are underestimated and benefits are underestimated. These mistakes happen because of decisions based on inaccurate data. Forecasts for cost were made for future periods in time based on random variables which have associated probability distribution.
Forecasts for six months were viewed as six bell-curves that are progressively flatter or wider. The mean of each forecast was referred to as prediction. The variance of each forecast was the prediction error variance and square root of variance is the prediction standard error. Forecasting was performed on bi-weekly basis which resulted ...
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