Back in the day, managing projects was not only challenging but also a very time-consuming task. However, with the advent of technology, almost every business process has been remarkably revolutionized, especially managing projects. All hail to the project management software!
Companies buy project management software to increase the productivity of their business and workspace. This software helps firms efficient budgeting, task allocation, and planning of various projects.
A project management software is not industry-specific. Instead, it can be used in diverse sectors for seamless processing and to keep everything organized. But is that all that this software has to offer? Of course not!
Its advantages are not limited to the ones mentioned above only. Rather, it has a lot to offer. So, if you want to gain insight into the pros of project management software, then stick with us till the end and find out.
In this blog, we will cover the following topics:
- What are the pros of this project management software?
- What are the top examples of this software?
Now, without further ado, let us get started. Dive in and read on!
What are the Pros of Project Management Software?
PM software is beneficial in many ways: managing the workflow or keeping an eye on the employees. If you run a business, this software is what you need. But before that, you need to gain insight into the pros of this software. So in this blog, we have listed the top 8 advantages of PM software.
Improves communication
When it comes to managing projects, communication is the key without a shadow of a doubt. In business, communication is of two types, internal and external. Internal communication involves communicating with employees or stakeholders within your company.
While on the contrary, external communication includes contacting the people outside of your organization, like customers, suppliers, investors, etc.
A survey conducted in the UK with the IT services departments, finance departments, telecoms sectors, and business services depicted that 57% of the professionals blame lack of communication as the most crucial factor of project failure.
But do you know what the good news is? Project management software is here to help you with the communication problem!
This software can do wonders when it comes to improving the communication of your business. With the help of this software, your employees will be able to:
- Gather all the requirements of a particular project easily
- Report manager on the progress of the project promptly
- Update clients with the current status of the project
- Provide you feedback from the client on time
- Keep producer(suppliers) informed
Communication plays a vital role in the success of your business. If there is a lack of communication in your firm, the chances are high that your company will not survive in the modern marketplace. But having PM software by your side can help you a lot to improve communication.
Aids in setting up clear goals
Setting up goals and establishing a clear-cut vision is necessary to achieve success. And with the help of project management software, it becomes easier for you to set up goals and build a vision.
By using this software, not only can better growth be promoted. But it also aids in bringing transparency to the projects. Further, with the help of this software, you can assign tasks to your team members and set priorities based on those tasks.
Moreover, having this software installed will help you to get the project done in a timely manner. And that too by staying under the budget. Great, right?
Makes collaboration easier
Working together in collaboration enables team members to be aware, in sync, and informed of what is going on. Like:
- How much work is left to be done?
- Who has to do what?
- What is the overall progress status of the project?
- Which tasks are to be completed next?
Project management software makes it convenient for team members to collaborate on large and complex projects. It helps teams to get the work done promptly within the specified deadlines. By using this software, you can quickly view the status of the project, essential documents, and timelines of your employees.
Not only this, but you can also resolve project issues and queries on time. In short, it saves a lot of time through various collaborative features.
Helps in optimizing the schedule
For the success of your brand, timely completion of projects is necessary. Staying behind schedule and delivering late will hinder your business growth.
Without a proper system in place, it becomes challenging to keep up with the schedule while working on a project. But with project management software, there is nothing to worry about as it helps you schedule the tasks in the best way possible.
It captures what tasks should be completed at a given time for a particular project and then optimizes them accordingly. In this way, employees feel more productive. This results in making them adhere to deadlines. And they tend to contribute more towards making the project a success.
Tracks the progress of your project from the start till the end
Tracking each step of your project becomes seamless and easier than ever by using project management software. It does not only help in tracking the progress, however. But it also makes sure to monitor the time and efforts all the team members put into completing projects.
By providing insight into the team’s performance and the burden each member carries, this software enables you to make changes to the tasks, schedules, and resources accordingly.
Moreover, with the help of a built-in time and performance tracker, you can track your employees’ actual working hours. This information makes you understand which employee contributes more to the project and which is being unproductive. This insight helps you in more precise planning and handling.
All in all, by integrating this software into your business, you will be able to find the areas in which you are performing well and the areas needing improvement.
Helps in budget management
PMI conducted research on how the success of a project is measured and found out three things that play a major role in making the project successful. Here are those three things:
- Satisfaction of involved stakeholders(constitutes for 20%)
- Timely delivery(constitutes for 19%)
- Delivery of project while staying under the budget(contributes for 18%)
The above statistics clearly show how vital it is to manage your project’s budget to make the project successful. And for doing it effectively, project management software is there for you.
Effective budget management not only aids in making your project successful. But it also contributes to putting you on the road to profitability.
Satisfies clients
As we have observed from the PMI study, the most important factor that makes a project successful is the satisfaction of involved stakeholders. And do you know who the most important stakeholder is? Of course, the client who is paying you for the project!
With the help of this software, you can not only get the best out of project management tools. But you can also enhance your business processes and keep clients up to date with the progress of the project.
The result of your company’s efforts is not the only thing that satisfies the client. But there are some other things like effective communication and adaptability according to client needs that play a critical role in client’s satisfaction. And with the help of PM software, you are meant to achieve it.
Helps in identifying potential risks
No project can be completely risk-free. Your company might also encounter some or many risks while working on a project. However, it is always crucial to identify risks beforehand for the smooth processing of the project. And guess what? Project management software helps you with that also!
Early identification of risks saves you from future hassle. Not to mention it becomes much easier to deal with these risks at an earlier stage. Further, early identification of risks enables you to solve the problem quickly and prevents other issues from popping up later, thus, aiding in the smooth execution of the project.
These were the top 8 benefits that you get by using project management software. Here and now, you might be curious to know about the top PM software in the market. Let us find out!
Top Examples of Project Management Software
Monday.com
Monday.com is simply the best software out there for managing projects. And that is why it has topped our list.
Apart from being intuitive, it is fairly convenient to use, allowing project managers or business owners to manage all the tasks with ease. It comes with color-coded panels that aids in providing a visual representation of the timelines.
With the help of this project management solution, you can keep your team members productive and monitor their individual and collective progress.
Wrike.com
Wrike is built to enhance the productivity and efficiency of the teams. It has also won an award for the remarkable project management features it provides.
This software enables all the team members to work together and complete the tasks in the most efficient and timely manner possible.
Further, the user-friendly interface of Wrike allows teams to schedule, keep track, discuss, and prioritize the tasks easily. It stores company or project-related information in its large database, enabling employees to access it anytime.
Zoho Projects
When we talk about productivity and getting projects done on time, Zoho Projects can be considered the best in the market. It comes with top-notch features, enabling companies to monitor tasks, improve productivity and collaborate in real-time.
It does not only make it easier to handle projects. But this software is also beneficial for planning the project tasks. With this impeccable software, it becomes easy to divide complex and large projects into multiple milestones. And complete 1 milestone at a time.
Clarizen
Clarizen is a great project management solution that is relatively easy to operate. It brings all the employees together on a single platform and enables them to produce their best by providing a comprehensive work structure.
This software takes care of valuable data and prioritizes budgets, resources, portfolios, tasks, and projects.
Asana
Many companies have adopted this project management software because of the fantastic task management benefits it provides.
An interesting thing about this software application is that it provides ease of access for managers or business owners. You can keep track of the performance of your team members through different devices or browsers.
On top of that, it comes with some useful features like sharing of documents among team members, allocation and deallocation of tasks, group chats, and many more. Further, like other top software, it makes sure that the users are delivering assigned tasks or projects on time.
Trello
Trello has gained tremendous popularity over the years because of its unique collaborative features. It makes discussion or communication possible in real-time. Also, it opens the door for remote working.
Moreover, you can create boards in Trello and assign tasks to your employees by writing them down on cards. On those Trello cards, you can set the starting dates and deadlines of the tasks to keep a performance track.
Due to the unique management ways it provides, Trello is one of the widely-used project management software in the world today.
Jira
Jira is project management software that is built by keeping the agile methodology in mind. This software helps the whole team of employees to work through the entire developmental cycle of a project effectively.
From creating user stories to the deployment of a project, Jira helps in every stage.
With the help of Jira, planning, managing, tracking, identifying problems, generating reports, deployment, everything falls in place.
Final Thoughts
Integration of a project management system into your business is an important decision that holds a significant impact on your business processes.
Before buying one for your company, you should know the advantages and understand the nature of your business first. Only then can you select the best project management software for your enterprise.
So along with the advantages, we have also penned down the top 7 project management software to use, hoping it would help you choose the right one as per your business needs. So if you do not have one installed, what are you waiting for? Consider installing now.
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