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You’re Losing Money by Not Using Project Management Software

Is your project losing money? Are you always in the fear of losing too much? Do you have the right set of tool for managing the team and project?

In the life of a project manager, these are some common fears. They are always susceptible to finding the potential bottlenecks in a project.

As projects are added, it becomes important for a project manager to look at how their teams work as a whole. For example, do they have enough resources to complete the project, and the right tools to move in the right direction and what are the skills required to complete the project. If you have lost all control on your projects, wasted up a large percentage of spendings then you need to take an action for your better future.

Save money on your next project. Use ProofHub for your project management needs.

If you’re a project manager you might have contributed to this problem. Why? Because you’re not using the right tools for your business. It is pretty sure that you are doing too much work than required.

When you use the right tools, you don’t need to juggle all of those little tasks. There are many different types of software you can use from just about anywhere.

What are the challenges of managing projects?

At one time you may reach a breaking point because of the many challenges you have to face while managing projects without a tool. Let’s first see what are the various challenges.

  1. Ton of Tools

A tool for time tracking. A separate tool for reporting, billing, to-do list and chat. Are you still using Google calendar? Is that your business? You are definitely overloaded with tools.

When you are not using a project Management software, this is a common scenario. Of course, for you will need to invest in different tools for different activities, that makes it all in all a messed up thing.

2. Unclear Expectations

Unclear expectations are dangerous. From the outset of the project to the project execution if there is not a defined system for the project, it will never be started off on the right foot. Project managers fail to reach the expectations of all stakeholders, leading to confusions and reduced productivity.

3. Poor Communication

Communicating from start to end is must. Miscommunication is another common project management challenge for teams and project manager to deliver the right information at the right time. If the team members are not in the loop of recent project developments, the project would be a fail.

4. Issues in the Team

When working on a project, there are multiple members of different personality working together. It can be daunting at times to cater the needs of all the members. There will be constant disagreements within the team leaving a negative impact on the progress of the project.

5. Late Project Delivery

The project may start on a good note but as the project progresses a lot of changes may cause the project to delay. This happens when the work is not streamlined and the targets are unrealistic. It leads to late project delivery eliminating long-term opportunities.

6. Who is Doing What

It becomes quite difficult to manage the work and estimate the progress when you have no idea of who is doing what. Someone might be overloaded while some might be just playing around to pass the time. This happens when there is no system of assigning tasks to make sure the work is being distributed as equally as possible.

What Project Management Tool Offers You?

A survey found, that when organizations become better at project management, the KPIs increase significantly, scheduling adherence rises 50%, and productivity can improve by over 60%. When it comes to planning, maintaining documentation, and allocating resources and many other things, project management tool is the savior for project managers. There are plenty of tools as a weapon in your project arsenal. However, on large and small projects, it brings several advantages. Let’s see.

  1. Collaborate on Projects

Every project is different, but collaboration has always been an important part of every business. With the commence of a project, it involves the collaboration of people of different skills. Every individual is designated tasks according to their role and skills, and the whole team try to complete the project before deadlines. A project manager should make sure to give its team the necessary tools to collaborate. Project Management Software gives teams and managers a method to collaborate on projects, work together on the challenges, discuss documents, timelines etc.

2. Internal & External Communication

Strong internal and external communication is the cornerstone of project success. Project Management Software develops a funnel for communication, both internally and externally with clients and other stakeholders. When individuals work together remotely they can easily exchange information with the teams within seconds.

3. Budget Management

In a PMI study on how a project’s success is measured, the top three include satisfied stakeholders (20%), delivered on time (19%), and delivered within budget (18%). This shows the importance of completing the project on budget for the success of a project. Budgets play a big role in controlling your projects and aligning work accordingly. The software helps in task automation, resource allocation and work collaboration making it easy for project managers to determine the working budget.

4. Better Employee Engagement

Better employee engagement is equal to better employee morale. When your teams are happy and engaged the efforts they put on their work will automatically be more visible. When there is a strong project management that increases employee engagement, the teams will feel valued and have a clear sense of purpose of their work.

5. Optimized Scheduling

Often the project managers find it too hard to stay on schedule with a no systematic way to manage the tasks. They have no idea when a task should be completed and who is doing what. Project management software is extremely useful in this as it provides better scheduling and making everyone aware of the deadlines associated with the project. With the features like Gantt charts, custom calendars, real-time activity stream, the project managers, and the teams can have a glance on what needs to be done at a given time, thus better managing their time to complete the project.

6. Better Project Tracking

Project management and project tracking go hand in hand. When it comes to the success of a project, time tracking, timelines and timesheets, and progress reports are a necessary part of project work. You can have a clear track of the progress of each stage of the task and also monitor the time each team member puts in the project. In case of any mess up, you can consider again to shuffle the tasks. Thus, having a precise handling of the project and a clear picture of the project.

How ProofHub fits in all this?

ProofHub — cloud-based software that is dedicated to helping teams get more done. You can create a dedicated project manager for each project to effortlessly manage work and have control on the things.

Final thoughts

The best way to plan the success of your project is to make use of a project management tool. If you take into account investing in a right manner on the right tool you can lessen the damage to your projects and find yourself in a win-win situation always when working on the project.

Liked this post? If yes, then you are going to love this one as well —

  1. How to Improve Your Project Management With ProofHub
  2. 5 Tips and Tools to Boost Productivity for Employees on the Go
  3. Top 19 Project Management Blogs to Watch Out for in 2018

You’re Losing Money by Not Using Project Management Software was originally published in ProofHub Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

This post first appeared on ProofHub: Event Management System, please read the originial post: here

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You’re Losing Money by Not Using Project Management Software


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