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A systems engineering perspective of timing information for optimized decision making

In this paper the authors explore an alternative cause, and proposed solution, as to why over 30% of projects are deemed failures and almost half experience scope creep and schedule slippages; and more than 40% incurring cost overruns. Today many projects work in a reactionary mode when decisions are needed, stakeholders use historic data (lagging indicators) and personal experience to choose among a set of options. In this research, the authors propose to proactively engineer the information environment to inform and shape evidence-based decisions as well as better communicate intent across stakeholders, thereby creating better alignment between project teams, sponsors, and project objectives. The authors assert that the pacing of information for informed decision making is key to reducing project risks. To accomplish this, the authors developed a project information profiler and accompanying information risk coefficient, MZ coefficient, that can be employed to find and address the hidden risks created by inferior quality, erroneous, and untimely information. The authors propose that this holistic systems engineering approach will significantly improve the likelihood of achieving project objectives given constraints of the information ecosystem.