Where facts are few, experts are many.
—Donald R. Gannon
The point of any management information system is to put usable information into the hands of the decision makers. In order to be usable, the information should have the following characteristics:
- Accuracy: Inaccurate information is worse than useless, it's actually misleading.
- Timeliness: Problems have the nasty habit of growing unless they are addressed. Late performance information invites such growth.
- Completeness: Part of the difficulty in being a manager is having to make decisions based on incomplete information, so deliberately leaving off some parts of the portfolio from participation in an information system is just plain goofy.
Earned value management ...