Accuracy is a common yet interesting concept used in project management. It is defined as how the values that are measured are close to the intended target (value) or simply, an assessment of correctness. Thus, if the measurements are accurate, then the values are close to the target. Accuracy is often mistaken for precision. It is important to take note that while accuracy is being close to the target value, precision is defined as the values of a particular repeated measurement that is clustered but not necessarily close to the target value. If there is less scatter with the value, then it is considered precise even if the values are far from the desired target. While accurate data can be precise, it does not mean the same thing or the other way around.
So which is important? In project management accuracy is very important and desirable especially in handling unbiased data and information. In quality control inspection, for instance, accuracy is very important because it indicates that the deliverables have the right quality because they are close to the desired target value, therefore, they come with good quality.