If you're a project manager, you have a lot on your plate.
It's your responsibility to make sure your project – or in many cases, projects – come in on time and on budget. A single lapse in the management cycle can send your project careening out of control and have significant consequences for your company's bottom line.
In theory, all you need to effectively manage projects are a sharp mind and an eye for organization. However, in today's business environment, effective project management requires the application of technological resources, including a first-rate project management software solution.
Project management software has a lot of benefits for small and medium-sized businesses. But to make the most of your software, you need to be informed about the advantages of using project management software in a complex business environment.
- Management oversight. Most importantly, project management software offers complete visibility over your projects. A good solution gives users granular insights regarding timelines, budgets and project assets. At the same time, project managers receive dashboard tools that let them see the big picture at a glance.
- Cost control. Solutions that have been designed to handle complex projects usually include ample features for budget and expense monitoring. The big win for small businesses is that owners and senior leaders gain real time control over project expenditures without having to hire additional project staff or accounting personnel.
- Team tracking. Many project management solutions also include modules for tracking time logs and team member schedules. When you're dealing with a project that involves a large number of human assets, the ability to manage and track your personnel can be an important factor in the overall success of the project.
- Accountability mechanisms. Timelines, Gantt charts and other features can be used to maintain accountability mechanisms for individual project participants and departments. Since dependent events are commonplace in project management, this limits the possibility of a single individual or department holding up the entire project.
- Collaboration & communication. Hardy project management software applications go the extra mile to facilitate collaboration and communication among project participants and team members. Although this could be accomplished through other mechanisms, centralized collaboration tools streamline the process.