Using a good Project Management tool is critical when it comes to managing work online. Many businesses have gone online and people no longer need to meet in-person to get things done, so using a good tool becomes essential to keeping an eye on the progress of work. It is important to know in which direction the business is moving – what new things need to be added, what old things need to be removed, etc. Project Management software assists in planning and giving direction to the work that needs to be done.
So, the burning question is – if businesses were working traditionally, what value add does project management software bring? Let us go through some of the salient features a project management software adds to the business:
Scheduling and planning:
A business is always looking for expansion in different verticals. However, there are often blockades to this. It is essential to know what the limitations are and what are the benefits are of progressing in multiple directions. That visibility is produced by a tool which gives information to you.
Scheduling functionality helps to assess what needs to be done over a period of time and how many resources need to be allocated. It helps with a systematic approach to work and gives better insight as to what the business will need to successfully complete planned projects in a new vertical.
The Rights and the Wrongs:
Doing a Lessons Learned post mortem after a project completes is essential for good growth. This can be more painful for new organizations and start-ups where growth and progress are paramount. It becomes important to know where and why projects failed, whether they didn’t meet the specified goal, ran over budget, or didn’t complete on time, giving you the ability to plan better for future projects.
Project Management for Start-ups & Entrepreneurs plays a pivotal role. These businesses are looking to enter the market and grow. New businesses need to assess their work at every stage and keep an eye on the progress to help ensure they can meet their project goals. A good project management tool helps give visibility to your team, especially when small businesses are often a group of individuals working independently on their particular projects to meet the overall company goal.
This may sound crazy to most businesses but a tool that helps to keep a track of progress is what businesses need. By creating a project plan, you can estimate and plan work instead of randomly riding in different directions. When you have a task list to follow, it becomes easy to visualize and see what can be done and what can be dropped. Businesses can prioritize based on the work at hand.
Your customers will also appreciate a project management focus. By putting customers on the forefront and keeping them involved in the project process, there can be value additions and customer feedback. Issues with scope creep can be easily displayed and demonstrated to the customer so they can make intelligent decisions. When you meet the needs of your customers, you are using project management software to generate more revenue.
Consistency becomes the key:
When you are working in multiple directions, you need an overall holistic view. It becomes difficult to maintain regularity in your work without this view, and you may find yourself scrambling to catch things, or finding things that fell through the cracks. A project management tool helps keep focus as well as letting you flag issues. Shifting resources, adding or removing tasks, and understanding the current project trajectory to make decisions are all made easier when using a project management tool.
Analytics and Reports make it easier:
One of the best things about project management tools is the interactive and real-time picture it can give you about the work. Often, we need to see reports and data in a statistical number, but it becomes difficult to collate the data across excel sheets and other documentation versions. Project management software has made that part of the business totally effective.
With more reports and interactive dashboards, and real-time numbers milling in, it has become simpler to view what is going on in the organization. Dashboards give a clear picture of status of projects in the organization. Organizations can use the reports created by the project management software for their internal catchups and meetings and for presentation in front of clients.
Companies of all sizes can benefit from using a project management tool to help grow and sustain their business. Finding the right tool to fit your business needs can give your business clarity and show the trajectory you can accomplish, or what resources you need to bring on to meet those goals.
Sharad Bhardwaj is a content analyst at SoftwareSuggest. He has experience in content marketing and has expertise in Project and Document management system & services. In leisure time he likes to rejuvenate through playing cricket and listening to music.