In these turbulent times, there is hardly any industry that isn’t struggling while trying to adjust to the social distancing norms enforced to prevent the spread of COVID19. Enterprises around the globe are also facing a unique set of challenges. The biggest one amongst these challenges is to ensure that every employee has access to the right set of tools while working remotely so that the business operation remains unaffected.
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It is worth mentioning here that there are multiple projects under an enterprise at a given time, which all serve different clients and are handled by different departments. These projects have a project manager taking control of the successful delivery of the project. Click here to read more about the tools.
Enterprise Project Management is the management of all these projects and ensuring they are meeting the business goals.
At the core level, Enterprise Project Management (EPM) is the practice of ensuring all projects get executed in a timely manner and stay on budget. This involves strategizing and streamlining projects at a large scale in order to enhance project results rather than focusing on any short term results.
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An enterprise project manager is responsible for the scheduling, management and reporting of all the projects of an enterprise in order to effectively oversee their schedules. This means ensuring high quality of work while handling multiple projects at the same time.
With the help of EPM, an enterprise receives support in the following areas:
- Project resource allocation
EPM ensures the right people are assigned for the managerial positions of a project along with the project team members who are capable of supporting the project. These resources are allocated based on their skill set and work location so they can be the best addition to a project as well as ensure productive results. - Project consultation and training
Apart from managing the projects, EPM involves providing training and mentoring the project manager of every project while also providing them support at all possible levels. It also involves assessing the project managers from time to time regarding the quality of work and overseeing their performances. - Project coordination and administration:
EPM takes care of coordinating between various projects and departments to prevent any chaos. It also involves administration of the various projects regarding their delivery schedules and distribution in order to identify and resolve any possible discrepancies.
EPM is made easier with the help of an Enterprise Project Management software which helps in boosting the overall effectiveness of every single project by providing structure at an enterprise level. It provides a broader view so enterprise managers can work on defining and prioritizing business goals and ensuring all the projects are meeting those goals.
Following are the benefits of an Enterprise Project Management software:
- Improves Productivity
One can simply not emphasize enough that it is important to stay productive. In fact, productivity is perhaps the key to success in modern times.
When your employees are productive, they tend to stay motivated to achieve their personal targets which usually align with the organization’s targets as well. The day your employees are not productive, the progress of your organization towards success will get disrupted.
By investing in a project management software, especially the one that has been designed for enterprises, you help make team coordination better. The better the coordination is among your employees, the more productive they will be as they won’t be confused about who they are to report to or ask their doubts from in case of any queries. And, more easier it will be for them to achieve success.
2. Better Output
As we have already discussed in the above point that a project management software helps you stay productive. Now, when your workforce is productive and putting their best foot forward every single day, it means that they are achieving their targets and helping the organization climb up the ladder of success.
With the help of such tools, you can easily allocate your resources better and that too for every project that you pick. From money to your human resources, you can delegate the work as per the strength of employees and easily allocate the money as per the budget that you have been given by the organization.
Hence, you can get better output from your team.
3. Higher Quality of work
Poor quality of work is the last thing you expect from your employees. When clients hire other companies, say agencies, they have certain expectations and hopes from them. Most of these expectations are in the form of higher quality work and timely delivery of projects.
When you invest in an enterprise project management software, you make sure that your employees are delegated the work as per their strengths and forte. The tool also allows you to ensure that you are not overburdening any employee with additional tasks.
It is crucial to do this as when a person has plenty of projects on his/her mind, they are bound to lose focus and not give their hundred percent at work.
4. Reduced Risks
One of the major benefits of adopting a project management software is the reduced amount of risks.
It is true that risks are inevitable. No matter the industry, no matter the size, you will always have to bear some risk or the other. So, why not make sure that your risks are calculated and also, less whenever possible?
A project management software allows you to have all the projects in front of you, available to you at a glance. This helps you figure out your steps and make decision keeping in mind the impact that it might have on other projects in your hand.
5. Effortless Project Planning
This is perhaps one of the most common and obvious benefits of investing in a project management tool. Every company might not have plenty of projects to juggle but each company does have plenty of operations to take care of.
Running an organization effectively and successfully is a project in itself. By purchasing the project management tool that fits well with your organization, you make sure that all your projects are aligned well with your goals.
This tool helps you plan, prioritize, and organize your tasks in a manner that ensures completion of projects.
6. Strong Technical Support for Inter-related Projects
If you observe carefully, all the projects that you pick as an enterprise are somehow related to each other in one regard or the other. Maybe the niche is somewhat similar, maybe the tasks need to be carried out in the same manner, or maybe you need the help of various teams for one project.
A project management tool offers that technical support that you require to detangle the projects that are interrelated. It means that you can easily assign the tasks and pair up employees to work with each other as per the project requirement.
You can then give access to this information to your team members so that they can easily streamline the projects and function effectively.
7. Enhanced Collaboration
After productivity, collaboration is the most important aspect that helps your organization reach new heights of success. When you have employees who work as a team and in a collaborative environment it becomes easier for you to retain them. And it’s important to retain the right talent if you do not wish to spend more money on finding individuals to replace them.
A project management tool helps you enhance collaboration. Since everyone can see the amount of work that is assigned to each and everyone, employees tend to help each other out and work together.
For instance, if they see that their teammate has been asked to do extra work but he or she doesn’t have the bandwidth to complete the same, employees will come together to find the effective solution for the same and help their teammate out.
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8. Accurate Financial Management
If you have a lot of projects on your hands, you are bound to make sure that each of them have proper allocation of monetary resources. You don’t want any of the projects to face any delay or hindrances because it did not have enough money allocated to it.
With a project management tool, since you have every detail of the project accessible at one spot, you can easily identify and analyze the financial needs of each project. This process and analysis will make sure that you are managing your finance accurately.
9. Better Decision Making
As we have discussed before, no one can run away from risks completely. Everyone has to face it every now and then. But how exactly do you do that is in your hands.
Since you will have every small piece of information available to you, ranging from the tasks that are supposed to be carried out to the time that a project will take to get completed, you have ample data on your hands to make the right decision.
You can figure out the sequence to get done with the tasks on hand while keeping the risk of work spiraling out of control very low.
10. Effective Time Management
When there are a lot of tasks that need to be completed, time management becomes necessary. With effective time management, you make sure that you are meeting your deadlines.
Now, a project management software is often a combination of other digital tools for teams to simplify activities such as collaboration, communication, and time tracking.
With the help of these software, you can figure out how long a project or a certain task will take to complete, and become a pro at time management. In short, you can easily prioritize your work and keep meeting the deadlines without any struggle.
Conclusion
As a company grows and starts diversifying its operations, it can get difficult to keep an eye on every project and make sure there are no missed opportunities or duplication. The focus of Enterprise Project Management is removing any such inconsistencies in a project execution and to ensure it provides value to the enterprise. By highlighting the enterprise’s strategic mission and objectives, an Enterprise Project Management software helps in providing valuable insights to make the decision making process easier. If you are struggling with project management in your enterprise, it is time you invest in a top enterprise project management software and reap its benefits.
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- The Untapped Powers of a Motivated Team (and how to unleash them)
The Ultimate Guide To Enterprise Project Management was originally published in ProofHub Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
