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(CSC-2168) From Data to Wisdom in Projects Monitoring and Control

Primary Author: Dr. Mohamed E. El-Mehalawi
Audience Focus: Intermediate
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada

Abstract: The paper starts with a brief introduction about the Data to Information to Knowledge to Wisdom (DIKW) model and then maps the model stages to levels of controlling projects. Data in the DIKW model is mapped to project data collection, information is mapped to progress measurements, knowledge corresponds to performance measurements, and wisdom corresponds to forecast and decision support. Projects require multiple levels of decisions. Data and information in the DIKW model support operational day to day decision making. Knowledge supports tactical decisions and wisdom supports the strategic decision making process. The second part of the paper will demonstrate the concepts explained earlier using eight examples of moving project data into static information of project progress. These will be taken one level up to show how to calculate performance measures. Then, further analysis on the knowledge to produce a forecast will be explained. Another outcome from this process would be supporting tactical and strategic decisions.