Project management without the right software is like trying to catch a fish with your bare hands instead of using a rod and reel. You might catch it eventually, but it will take a lot longer and be a lot harder. With project management, marketing or any business endeavor, using the best possible tools can make a huge difference in improving operations. Using the right software can make managing a project much easier and help a project run more smoothly in many ways.
1. Get off to the right start with project planning
Solid preparation is the key to getting a project started on the right track. Getting project management certification can help lay the foundation of a successful project and having the right project management software provide the tools needed to get the job done. Project management software helps create a clear and consistent project planning process, which can help you more effectively plan and prioritize all required tasks, resources, constraints, and deliverables as well as set deadlines, approval points, and dependencies. Proper planning can help make sure that projects meet stakeholder expectations and are completed on-time and within budget.
2. Prioritize projects correctly
Project management software can help you and your organization make the best use of resources and help ensure that the projects offering the greatest return on investment or have the least risk are at the top of the list.
3. Increase organization
With all documents, materials, and project details logically organized and located in the same place, project management software makes it easy for all team members to stay updated and be able to access the information they need to successfully carry out their project responsibilities. It can also facilitate collaboration, prevent billing errors, and help the team meet deadlines and track deliverables.
4. Leave no detail overlooked
Project management software can function as an invaluable assistant, one that doesn't forget even the smallest detail, and will even bring to your attention details you hadn't considered. It can be a highly effective way to not only make sure that nothing and no one is left out, but also to organize project-related data along with your own thoughts.
5. Generate and monitor budgets and expenses
Once you've laid the groundwork by completing a project plan, project management software can take it from there, using that data to generate a detailed project budget. From that point on, it will accurately monitor the project's financial performance and track actual costs while comparing them to budget. Project budget data can also be used to forecast financials for future projects as well.
6. Get up to speed on new projects quickly
Taking on a new project or stepping in on an existing one often requires significant effort to catch up on what has already occurred and exactly where you are in the project timeline. By using project management software, managers have a consistent framework that concisely and thoroughly spells out the project status, what tasks have already been completed and what is yet to be done. You can also review similar completed projects for additional points of comparison.
7. Monitor team productivity and project progress
The right project management software can make it relatively painless to collect, track, and approve employee timesheets and monitor progress against scheduled project tasks. Software can also help properly allocate time and other expenses to the correct project, task, and cost center. Software can also help automate project time billing which can result in more streamlined cash flows.
8. Gain a real time picture of progress
One of the biggest benefits of project management software is the ability for all team members and stakeholders to have a consistent real-time view of progress and project status. Software can take the burden off of the project manager in gathering and inputting project updates and creating reports. It can generate fully auditable reports and eliminate the delays in reporting project status.
9. Improve reporting and analytics
One of the most important functions that project management software can perform is serving as a reporting tool. By providing thorough and accurate information on things such as costs, progress, project performance, and resource productivity, software can provide a clear picture of overall project performance and can generate impressive management reports on just about any key performance indicator.
10. Complete projects faster
Possibly the most compelling reason to use project management software is that it simply helps complete projects faster. By streamlining everything from prioritization, estimation, tracking, billing and reporting, project management software can help project managers and their teams execute tasks more quickly and efficiently. Timelines and deadlines are clear, helping everyone stay on track and complete projects on time and on, or even under, budget.
Project management software can provide a host of advantages to businesses of all types and sizes. With proper training, project managers can keep projects, teams, costs, and ideas organized in a structured way, resulting in more effective projects and increased intellectual capital for the organization.
If you are shopping for project management software, one thing to keep in mind is that each program has different strengths and weaknesses. It's important to know what you need upfront, and then choose the software program that matches the needs and goals of you and your project stakeholders.