As we all know, project management is more than tracking deadlines and setting up budgets. Project management is about taking control of a project, ensuring goals are strategically aligned, maintaining stakeholder support, and taking care of numerous projects and employees simultaneously.
In order to ensure efficiency while planning and running projects, investing in a time-saving project management software must be considered. According to PWC, digital PM software increases performance and 77% of high performing projects use project management software.
While the benefits of a project management software are limitless, the importance of choosing the right program that meets all of your needs cannot be overstated.
The right project management software must be adaptable to your way of doing business, offer an excellent planning system, and track individual progress. This program should also allow collaboration, offer key performance indicators, and let you automate recurring tasks. Last but not least, the perfect project management software must allow project budgeting, client billing and online payments. In short, an effective project management solution should be comprehensive and includes features to manage all stages of project planning… From the initial estimate to final billing.
Improved Planning and Scheduling
Managing a project includes identifying the requirements, planning and measuring progress and performance, as well as managing a team of workers.
A project management software will help maintain visibility on the projects and avoid unpleasant surprises. Thanks to this kind of program, users are able to oversee the quality and completion of the projects.
Project management programs also offer unique features such as Gantt Charts that will help its users plan, manage, and visualize projects – all while staying on schedule. These charts offer the agility to adjust the project tasks in real-time.
Collaborative work is crucial to project management. A project team is a group of people working towards a common goal by bringing valuable and unique skills to the table. Identifying a project’s team members and standardizing operating practices are all critical to a successful project.
Remember that, when team members use tools and work processes that make collaboration more efficient, they meet goals faster and produce better quality work. With the right project management software, teammates save time by avoiding unnecessary email exchanges and team meetings. Every team member has access to a tasks list to be accomplished, which allows for superior communication with clients and facilitates the integration of new members.
Furthermore, most project management software permits to invite clients as guests on a project to show them how the project progresses.
Easier File Access and Remote Working
Remote project management tools are becoming more and more essential. They are now designed to help virtual teams with everything from communication to team management.
Working from home can be a challenge including having regular check-ins with remote workers and clients. Project management software users have direct access to the information they need, regardless of where they are in the world. Everything is centralized. It also allows users to share their to-do list so everyone can see which tasks are yet to be completed and anticipate delays.
Effective Risk Mitigation
As mentioned above, implementing improvements like automated tasks is a productive step in curbing the risk of mistakes caused by humans.
If your team members are performing repetitive administrative tasks such as billing customers and updating task priorities, consider automation as another advantage offered by project management software. This kind of feature helps reduce the risk of errors, ensures consistency and more accurate information.
Budget and Cash Flow Management
Project management software should include financial tools to help you proactively track and manage your costs and stay on budget. By setting budget tracking by either hours, amounts or costs, and by defining budget alerts, a project manager has all the tools required to avoid budget overrun.
Moreover, a good project management solution should also give you the ability to manage efficiently the last phase of a project: invoicing the client. Scheduling recurring invoices, setting up reminders, accepting and tracking online payments are all essential features that will contribute to the success of a project.
In conclusion, project management programs are crucial because without them, teams and clients are exposed to chaotic management, unclear planning, a lack of resources, high risk of error, budget overrun and late delivery.
Rely on an efficient project management software such as Nutcache and use it as a control station to monitor and review all the projects that you are leading. Invest in your company today!
Marc Guévin has been part of the Nutcache team since day one. As the marketing specialist and blog writer, Marc does his best to develop the Nutcache brand and make it shine by sharing the Nutcache love to all business owners out there.