Project management software is a necessity for every organization in today’s cut-throat market competition. Nowadays, project managers are expected to handle multiple tasks with varying complexity and no longer use pen and paper to keep track of their day-to-day operations.
You can use project management software to juggle a variety of tasks, keep track of progress, and manage your team, all in one go. There are a plethora of options when it comes to project management software, with all of them varying in their features, cost, level of complexity, and effectiveness. After reading this post, you’ll learn everything you need to know about project management software and its uses.
What is Project Management Software?
Project management software is a necessity for every organization in today’s cut-throat market competition. Nowadays, project managers are expected to handle multiple tasks with varying complexity and no longer use pen and paper to keep track of their day-to-day operations.
You can use project management software to juggle a variety of tasks, keep track of progress, and manage your team, all in one go. There are a plethora of options when it comes to project management software, with all of them varying in their features, cost, level of complexity, and effectiveness. After reading this post, you’ll learn everything you need to know about project management software and its uses.
Why do you need Project Management Software?
Project management software allows project managers to handle a wide array of project-related tasks in a quick and effective manner. You can delegate responsibilities to team members, track progress, and manage deadlines without the hassle of making a hundred phone calls or cluttering your desk with loads of files.
This software solution can be applied successfully to almost all types of projects across various sectors, from engineering a new product to managing a specific department within an organization or a customer.
The Project Management Life Cycle
As a project manager, you are expected to handle every project from concept and development through completion. Each stage of the project cycle comes with its own set of variables and complexities, making the overall management process quite an overwhelming proposition.
However, it doesn’t always have to be that way. Once you streamline your approach and carefully evaluate and review each step in detail, the job should become much easier.
The project management life cycle involves 5 main processes. Initiating a project is the first step and sets the platform for all that has to come next. During this phase, you are required to set clearly-defined goals and milestones, obtain proper authorization, and identify reliable funding sources for your project.
The planning process starts once you’ve defined your objectives. The execution and controlling stages cover most of the other life cycle processes, ranging from quality and risk management to communications management and more. Deployment constitutes the final stage of the project management process.
Responsibilities of a Project Manager
As a project manager, you are expected to work with different people in the organization, including the client, project team, and other stakeholders, to organize and manage all aspects of the project.
You will be tasked with a wide array of responsibilities, from managing the project schedule and resources to analyzing the risks, and ensuring the quality of deliverables. In other words, you’ll be required to keep track of the individual performances of your team members so that the deadlines are met and the job is completed on time and within budget.
The entire process can be quite overwhelming. While most project managers have the technical knowledge and organizing skills, they don’t have the right project management software to ensure hassle-free handling of the various processes.
Benefits of Having a Project Management Software
Whether you are a beginner or a seasoned pro in the field of project management, having the right software solution can make your job a whole lot easier. Listed below are 7 benefits of using a project management software:
1. Collaboration Capacity
Project management software supports a collaborative work culture and facilitates quick and efficient communication. No matter where you are working from, you can reach out and issue instructions to your team members across the globe. This will help you create tasks, delegate responsibilities, review and approve crucial project-related documents without having to go through a thousand tedious and time-consuming manual processes. Keeping a close eye on everything will enhance the utilization and productivity of your team members, enabling you to keep your operations running smoothly.
2. Improved Communication
Being on the same page with your team members, clients, and stakeholders is essential for the smooth and timely completion of your project. Using a project management software helps you communicate better by sharing all the project information and updates in a quick and hassle-free manner. Here’s how your business can benefit from improved communication:
- Keep track of project operations, identify potential risks, and take the necessary steps to avoid costly mistakes
- Create specific milestones within the overall scope of your project work to meet client-given deadlines
- Expand your operations and collaborate with other companies across the globe
3. Automation and Efficiency
Automate tasks, allocate resources, create deadlines, and keep a close eye on the progress, all with a few simple clicks on your computer. Having the right software solution paves the way for effective coordination of the various aspects of your project. This, in turn, improves efficiency and eliminates workflow barriers, making it easier for you to utilize your resources and improve the final project outcome.
4. Ease of Use
Most project management software come with simple and easy-to-use features. You don’t need to be a technology expert to use these tools and reap the benefits. It works equally well for entry-level as well as senior-level users.
5. Brand Recognition
Improving your brand recognition allows your business to gain more visibility, widen your customer base, and enhance your overall reputation in the market. You’ll have to manage a huge number of projects as your business grows and expands its sales and operations. Having a project management software allows you to keep track of all your projects, assign deadlines, and manage activities. It also helps you create public calendars for your business, which, in turn, contributes positively to your brand awareness.
6. Reduced Costs
Using a project management software helps you control project-related expenses and save valuable funds that can be better utilized elsewhere. You don’t need to pay truckloads of money to purchase these software solutions. With so many options available, you can choose a project management software that is cost-effective and meets your business requirements at the same time.
7. Security and Compliance
Project management software comes with numerous security features and certifications that help you keep your projects and team members secure. It allows you to set permissions and create access controls to safeguard your information and customize access rights for specific users. You can also use this software to achieve compliance with data protection regulations, such as GDPR and the TCPA.
Types of Project Management Software
Each project management software comes with its unique features and price points. Here are some of the most commonly used project management software:
- SCRUM project management software – This type of project management software is ideal for development teams that use short sprints to get their work done. It provides you with the features to create a project schedule, assign tasks, and track the progress of the project.
- Agile project management software – This type of project management software is ideal for development teams that work with iterative development. This project management software will allow you to keep track of your progress and delegate responsibilities to team members.
- Traditional project management software – This project management software is tailor-made for project managers who work with multiple projects and manage multiple teams at the same time. It is a comprehensive software solution with features for handling every aspect of a project.
How to Choose the Right Project Management Software?
Now that you are aware of the different types of project management software, how do you decide which one would work best for your company? It is a good idea to understand the different features that each project management software offers and then align them with your needs.
Here are some key things to consider when choosing a project management software:
- The functionality of project management software – Make sure you perform a thorough assessment of the functionalities that the software has to offer. This is the most important factor to consider while choosing a project management software. The software should be capable of handling all the functionalities that your project requires, including managing and assigning tasks, tracking progress, and managing risks and challenges.
- Project management software cost – Once you are done identifying the project management software with the right functionalities, compare their costs and choose the one that best suits your budget.
- Project management software reviews – Go through the reviews to understand what others are saying about the project management software that you have shortlisted. These reviews will give you a deeper insight into the project management software functionalities, its key benefits, and drawbacks, thereby allowing you to make better and informed decisions.
- Project management software comparison – Finally, use a comparison tool to narrow down your project management software choices and select the one that offers the best bang for your buck.
Pros of Using a Project Management Software
Using project management software, you can stay organized, manage your work, and track the progress of your project. It can also help you gain insight into your business and understand your customers better.
Project management software is also suitable for teams that work with iterative development. It will help you track your work, assign tasks to team members, and manage risks and challenges.
Project management software is also a great option for managing multiple projects and teams. It will be cost-effective and have the functionality that you need.
Cons of Using a Project Management Software
Incorporating a project management software into the business process might seem like a daunting task. It is common for project managers to choose one project management software option to begin with, but then struggle to add other tools.
Not every project management software is easy to use. Owing to its complexity, you may need proper project management training and expertise to use a project management software effectively.
There are numerous project management software options available in the market. Choosing the one that best meets your requirements and is cost-effective at the same time can be a difficult task.
Final Thoughts!
Now that you are aware of what a project management software is and how it can improve your overall business process, it is time for you to incorporate it into your organization. It is advisable to first identify your company’s specific needs and then compare the different project management software options available to you. This will narrow down your options and help you choose the right option for your company.