How can analytical project management help you solve complex problems?

1 What is analytical project management?

Analytical project management is a methodology that uses analytical tools and techniques to define, measure, analyze, improve, and control project processes and performance. It is based on the principles of data-driven decision making, continuous improvement, and risk management. This approach is especially valuable for projects that involve high levels of complexity, uncertainty, and ambiguity; multiple interrelated variables, dependencies, and constraints; diverse and conflicting stakeholder expectations and requirements; or a great impact on organizational goals and strategies.

2 How to apply analytical project management?

To apply analytical project management to your projects, you need to follow a structured and iterative process that consists of four main phases: define, measure, analyze, and improve. Each phase has its own objectives, tools, and techniques to help you reach your project goals. For example, in the ‘define’ phase, you can use problem statements, SMART goals, stakeholder analysis, and project management plan templates to identify and clarify the issue or opportunity your project addresses. The ‘measure’ phase involves collecting and organizing data about the project's current state, performance indicators, baselines, and targets. You can use data collection plans, surveys, interviews, observations, and metrics dashboards to help you in this phase. During the ‘analyze’ phase you analyze the data collected in the previous phase to identify root causes and effects of the problem or opportunity. You can use fishbone diagrams, Pareto charts, SWOT analysis, brainstorming and cost-benefit analysis to assist you in this phase. Finally, in the ‘improve’ phase you implement and monitor the solution selected in the previous phase. You can use action plans, pilot tests, control charts, risk registers and project reports to support you in this phase.

3 What are the benefits of analytical project management?

Analytical project management can provide you with several benefits to help you solve complex problems and deliver successful projects. It can enhance your critical thinking, data analysis, and problem-solving skills, as well as improve your project planning, execution, and evaluation processes. This can reduce project uncertainty, variability, and risk, while increasing stakeholder satisfaction, engagement, and trust. Additionally, analytical project management can support organizational learning, innovation, and growth to help you achieve strategic goals and objectives.

4 How to develop your analytical project management skills?

If you want to develop your analytical project management skills, you must practice and apply them in projects, as well as ask for feedback and improvement opportunities. To do this, you should learn from the best practices and examples of analytical project management in your industry or domain. Additionally, utilize online courses, books, blogs, podcasts, or other resources to understand analytical project management tools and techniques. You can also join online or offline communities of analytical project managers to exchange ideas and experiences. Moreover, get feedback and guidance from your project sponsors, stakeholders, team members, mentors, or coaches to improve your analytical project management skills. Lastly, review and reflect on your project outcomes and processes to identify what worked well and what can be improved in your approach.