Did you know that in 2016, for every $1 billion invested in the United States, $122 million was wasted due to lacking project performance?
We hope that the number has declined since then, but it's still pretty astounding that projects go off the rails so often, especially when there are tools that are specially designed to help project managers streamline their processes and simplify communication and collaboration.
A robust process enabled by robust software
A robust project management process with the right stops and checks, as well as reusable templates will give projects the best chance of success. The right project management software solution will support this by ensuring that your organization and its clients have real-time visibility into the progress of each project.
Here are 6 things your project management software should offer:
1. The essentials
Make sure any project management software you're investigating offers the following essential functionality:
- Task list view
- Gantt-chart view
- Critical path
- Resource planning
- Contingency planning
- Risk mitigation
- Business process modelling
- What-if scenario analysis
- Task dependencies
2. Customizable templates
Time-saving project templates increase productivity and consistency across your entire organization. Ideally, users should be able to quickly select a template when launching a new project, or customize one for unique projects.
3. Easy project schedulingYour technology should help your team execute projects quickly and effectively. Find out whether the solution offers:
- Portfolio management
- Interactive dashboards
- Sensitivity analyses
- Baseline variance management
- Cost tracking
- Control access
4. Real-time cloud collaboration
It goes without saying in today's environment, that your project management technology should be cloud-based. This will make it much easier for global teams, remote workers, and organizations that collaborate with external vendors and partners to run successful projects.
Make sure the solution allows users to:
- Share files
- Participate in discussions
- Assign tasks
- View real-time updates
5. Powerful reporting & analytics
It's important that your team is able to gather insights into the progress and success of various projects at any time. You should be able to view real-time reports regarding project and task status.
6. Resource capacity planning
Some tools, like Viewpath, make it easy for project and resource managers to communicate requirements and decisions throughout a project’s lifecycle by offering greater visibility into resource demand and capacity planning. This allows managers to see where resources are being used across all programs and projects, as well as their forecast future use.
- Predictive resource allocation
- Visually-interactive resource charts
- Individual and team views
- Cross-project allocation
- Weighted planning
Project management software should make life easier for your team, freeing them up to add greater value to the projects they manage, and giving senior executives access to the data they need in order to make effective decisions.
To learn more about Viewpath and our recently upgraded project management platform, take a look at our website, or contact us to book a quick demo.