Member Article

7 Reasons Why a Project Management Tool is the need of Businesses

I believe every big and small industry is undergoing a huge struggle every now and then. There are several things to manage when starting with a new business. And as it grows the responsibilities grow. There are a few core things that entrepreneurs and managers revolve around: initiation, planning, reporting, decision making, motivation and communicating on the progress of the project. These things are the foundation of success for entrepreneurs of today and tomorrow.

To maximize the efforts of every business to reach project goals within budget and maintain the business value of the project, valuable assets like project management tool is becoming a part of every business.

Adopting it is a big need for small and large businesses. There are many companies that do not follow a particular trend for project management and are not able to manage projects themselves. Therefore, they need to identify the right project management method and apply it to accomplish their project goals, promote effective interaction and collaboration between team members.

Here are some top reasons why a business owner needs to pick a project management tool:

1. Real time update of project progress An effective collaborative project management tool will help in tracking the progress of the project accurately. It will ensure successful delivery of the project. Any new changes made in tasks, deliverable, milestones and reports will get updated in real time promoting better collaboration between team members. Also, it ensures efficient collaboration between teams and clients making the end result as valuable as possible.

2. Cloud Services A project management tool will let you have a control over everything. Cloud services of project management allow you to update and monitor your data anywhere and anytime without downloading the software. You can sign up directly and get started right away. For remote working and freelancers, cloud based software is allowing virtual teams to access a central system of working from anywhere on any device, making the work a lot more simple.

3. Time-Tracking - Do more in less Keeping a track of time will surely improve one’s project managerial skills. Every organization needs to know how the precious time of every employee affects the business. Time is money and keeping a track of where it goes is a must every business owner to improve efficiency. Time logging in a project management tool is a need of every business and managers can estimate the number of billable hours, and determine whether a project will be profitable. You can have a track of where your projects are pacing and whether they are going according to your time estimates.

4. Planning There are plenty of things lined up as you start with a project, which requires planning as the first step. An outline of how things will be set and moved forward will save much of your efforts and avoid re-working. But it is also of no use if a maximum of your time is used in setting the plan. Therefore, ProofHub discussions, notes, and many other tools is a good way to undergo the planning process. You can make task lists and share the project related things and can save important points there itself. You can also indicate which tasks are dependent on one another making it easier for the team to do their work. There are plenty of things lined up as you start with a project, which requires planning as the first step. An outline of how things will be set and moved forward will save much of your efforts and avoid re-working. But it is also of no use if a maximum of your time is used in setting the plan. Therefore, ProofHub discussions, notes, and many other tools is a good way to undergo the planning process. You can make task lists and share the project related things and can save important points there itself. You can also indicate which tasks are dependent on one another making it easier for the team to do their work.

5. Efficient Task Management There are numerous tasks related to a project and every business requires an efficient task management system. Maintaining notepads for what tasks are being done, which are completed and which are ongoing is difficult. Thus, on a project management tool, you can assign all of the important tasks to employees and monitor how they are performing. You can have a visual view of your tasks and milestones on Gantt charts. The team can work in unity and will know which tasks are dependent on what tasks.

6. Seamless Team Workflow At times it can be really tough to get teams to work as one. But when using a project management software a lot of things get under control and managing teams and projects becomes easy. A manager can have a seamless team workflow using the software and always a hand on the tasks being done by team members. Also, collectively different team members can work on bigger tasks. It is quite important for the business to attain a seamless team workflow for company’s sustainable future.

7. Track down things After seamless tracking of tasks, planning the things, a manager needs to see whether things are going the way they are supposed to be or not. Keeping a track of things will deliver it on time. When there is more than one project running simultaneously, a project management software will help in checking the progress of each project in a single go. You can get the latest updates on all projects and track the progress of each project as a whole.

Thus, a project management software is becoming the need of today’s business.

This was posted in Bdaily's Members' News section by Vartika .