At Celoxis we believe that project management is a combination of people, tools and culture. In our previous blogs, we have covered the people (Read: Human Side of Project Management) and cultural aspects of project management. In this blog, we will discuss the importance & benefits of tools in project management.
With enterprises training their focus on efficiency, project management tools have gained a lot of significance. The market today offers comprehensive project management tools that cover all aspects of project management, from project planning, resource management, budget management to collaboration. Let’s look at some of the key benefits of project management tools.
Transparency in data, reporting, decision making
Today’s business environment demands objectivity when it comes to setting tracking and measuring goals and performance. Project management tools provide the ability to track and measure projects down to the last level of detail, across the lifecycle. Organizations can do away with cumbersome manual reporting methods and leverage one-click reporting and intelligent dashboards for tracking, measuring and reporting project performance. This helps keep teams, managers, stakeholders, and customers on the same page at all points in time, enabling transparency and data-driven decision making
Organization of Processes
Adoption of project management tools present organizations with an opportunity to streamline their processes and bring in a higher level of efficiency as a result. Teams and managers are required to input information in a standard format, thereby reducing data inaccuracy. These tools also bring in the standardization of reports, inter-functional information exchange, and collaboration process. Process excellence is one of the key priorities in organizations and the right project management tool is crucial for achieving desired results.
Optimization of Quality & Quantity
Project management tools provide managers with better visibility into factors that impact quality. By taking the right measures at the right time, organizations can optimize and get better control of quality. Project management tools also enable better control on employee productivity with resource management capabilities. Organizations can, therefore, get a better handle on output quantity.
Learning curve reduction
Centralized document management helps organizations create an extensive repository of project documentation and knowledge. All project related knowledge is maintained in the tool itself, there is no need to worry about endless email chains or multiple spreadsheets and documents. With easy access to project documentation, new employee training and orientation time reduces significantly, thereby enabling quicker deployment of much-needed resources to projects.
With project management tools, managers and stakeholders get a realistic picture of the project’s progress. They can be proactive and take the preventive course of action rather being reactive and on the defensive. Tools also help keep teams, managers, and customers informed about deadlines, current status, and key milestones through intelligent alerts.
Project management tools are not just good-to-have but a must-have for organizations to stay competitive in the present business environment. Choosing the right project management tool and driving adoption are crucial for leveraging all of the above-mentioned benefits.