Have you heard about a single source of truth? Organizing data is a difficult task for many companies that run complex projects. They often struggle with data-related issues such as a lack of collaboration, data integrity, and data quality issues. We see this often amongst our clients before they onboard Proteus. Data is stored on spreadsheets, or various pieces of software. Some people in the project team have access, and some don’t. Issues are as simple as duplication, incorrect or varying data calculations and formulas, multiple versioning, and, therefore, inconsistencies. These problems can impact decision-making and ultimately affect project performance.
The first step to solving these problems is to identify the root cause of the problem. For example, if there are too many sources of data, it might be because there are too many people in the company who have access to different databases, stored on different tools, from spreadsheets to time-management platforms. It may be that there is no single data analysis technique used consistently across the company; data collection and data storage could be the issue; there may be a disconnect between the approved project plans and the actual data during project delivery.
To improve project performance, you must have a strong, data-based decision-making process in place. Without data, it is impossible to efficiently prioritize tasks, identify roadblocks, manage resources and meet key milestones. High-quality data can be used to calculate project progress using common metrics including earned value, or value of work done which allows project teams to measure performance.
To guarantee robust data management processes, companies need to invest in the right tools that will help them organize their data and make it easier for them to collaborate and improve data quality.
The solution is to implement a “single source of truth”, effectively creating a centralized database that everyone can access, with in-built controls.
Proteus operates as a single source of truth by first providing a single interface to gather and visualise data.
What do we mean by a single source of truth in project management?
We do love talking about how Proteus provides a single source of truth, but we didn’t invent the concept. A Single Source of Truth is an accepted way to integrate and combine data from different sources into one place. This avoids duplicating and storing data multiple times as well as, crucially, ensuring there are no data inconsistencies and errors. This source should be the place where all key project data is accessible by all key stakeholders and ensures that a company is always up-to-date with its data.
The need for a single source of truth arises when there are multiple databases in an organization with different sets of data. These databases are often created by different departments and these departments have their way of storing, managing and using the data. The problem with this situation is that there’s no way to get a complete picture of what’s happening across a project without going through each department’s database separately.
This leads to errors and inconsistencies because different people might be entering or updating data in their database but not updating other databases with this information. For example, if someone updates customer records on one department’s database but doesn’t update another, then customer records will be out-of-date on both databases and incorrect information will
Put simply, a single source of truth is a data management system that provides a unified view of the data in an organization.
It is used to provide a single point of reference for all the data that is needed to run complex projects. The main goal of this system is to provide transparency and control over project performance. It also helps with the decision-making process by providing accurate information about the project status and progress. It is also a key requirement for project management because it enables timely information to be collected and analyzed using consistent calculations.
Why organizations using Proteus are embracing SSOT?
A robust data and business intelligence infrastructure can:
- Prevent data duplications and inconsistencies by providing a single interface that pulls multiple data sources together.
- Eliminate redundant workflows and workflow steps that are not essential to operations.
- Provide decision-makers with the right data at the right time.
Using a single source of truth data structure is not just a trend. Many of the companies using Proteus’s project management software have a similar set of difficulties. We have a large variation in the type of companies using Proteus. As an example, we have a major EPC client with over 20,000 global employees using Proteus as well as a small consultancy with less than 50 employees. The types of projects these two companies run on Proteus are vastly different. However, in both these cases, the need to access accurate data intelligence throughout the full project lifecycle is at the forefront of their objectives. For both, the demand for data-driven insights is increasing as margins are squeezed, and the need for advanced project controls data is also on the rise. A generic project management tool or ERP that does basic task management simply does not do the job.
To remain competitive and generate maximum profit, both need to have a strong understanding of data integrity and quality issues. Proteus provides them with a single source of truth that is maintained and updated through a central system. It is used to provide a complete and accurate view of all the data in the company and allows them to make data-led decisions to improve project performance.
How a single source of truth works for a company running complex projects
Proteus operates as a single source of truth by first providing a single interface to gather and visualise data. This data is pulled from either our in-built databases listing team members, contractors, and other resources and assets such as software and equipment. In addition, Proteus not only integrates with all your existing 3rd party applications but also allows you to see all your data across all your tools in one place. Proteus brings structure, by breaking down your technology silos and getting your data working as hard as you are.
For a single source of truth to work for a business, there needs to be a central system into which multiple other data sources can feed.
For complex engineering projects, there can be as many as a hundred tools that need to be connected to establish a single source of truth. Our customer success team works with our clients to identify how and where data is currently gathered, held, and analyzed. Our bespoke development services can then be deployed to create a single source of truth that is unique and meets the exact requirements of your company. In this way, rather than replacing the expensive ERPs and software you have already invested in, you can use Proteus to pull everything together in one place.
A robust data integration infrastructure such as that provided by Proteus can help optimize the productivity of the organization. The data managed via Proteus’ SSOT is automatically cross-checked with other entries of the same data. For example, because Proteus provides an instant view of key project metrics, from burn rate to actuals vs budget and forecasting, you can manage issues early and keep your projects on track. Proteus integrates project finances into the project management interface, making it quick and easy to view and manage invoices and purchasing, ultimately ensuring project data is always up-to-date.
Data entry becomes easier since there will be less duplication during that process, which in turn will save time for decision-makers. It also improves the quality of data intelligence by providing decision-makers with relevant information at any time of their choosing.
A single source of truth is an essential aspect of data-driven decision-making.
In conclusion, a SSOT helps to provide decision-makers with the right information at the right time through a streamlined reporting process that reduces time spent on building reports. The SSOT is connected to all systems in a company and it ensures that there is no delay between systems or sources of information being updated, regardless of location or device type. Moreover, it can help improve the quality of data through cross-system checks before presenting it to the user for analysis. Proteus’ advanced resource planning functionality streamlines even the most complex, multi-layered project activities, simplifying the management of both profit margins and dependencies.
In this modern era of data analytics, organizations can’t afford to rely upon multiple sources of information to build their business strategies. By using a single source of truth, they ensure that there are no inconsistencies in the data, which greatly improves the quality. This provides a focus on accountability for accuracy by establishing responsibility for what happens during a specific work package within a given period.
A single source of truth can help project managers make better decisions because they have access to all the data. This can lead to a reduction in project costs, time, and risks.
About Xergy and Proteus
Xergy Group’s Proteus work management solution is designed to work with your existing systems and to scale and evolve as your business evolves. It was created by energy sector professionals, for the diversified energy sector, and delivers an end-to-end project management software platform compliant with ISO audit requirements and common project management frameworks.
How to get Proteus
Proteus’ project management software is a cloud-based system designed for businesses of all sizes to handle projects of unlimited complexity. Each Proteus feature is aimed at making bottom-line improvements by improving proposal win rates, resource utilization, streamlining workflows, providing quick and efficient access to resources, and reducing overheads.
One of the unique advantages of Proteus is that we offer a free onboarding consultation service to ensure the company account is set up according to your company’s needs. This makes getting your company up and running on Proteus quick and easy. Get your free Proteus demo here.
Proteus operates under a software as a service (SaaS) model costing $35 per user per month. See Proteus pricing for more info. Billing is monthly or annually with two months free if paid annually.
We designed Proteus to be simple, and that means you can get up and running on Proteus without an IT team or support from a programmer. You will want to spend a bit of time configuring the admin console so that you have everything set up to suit your company structure, but it’s very intuitive, and you don’t need a PhD in IT. However, we want you to get the best out of what is a brilliantly powerful tool, so don’t hesitate to ask for our support. We have a team of customer success experts who are ready to help you with the configuration process, so get in touch today by completing the form below.