Several types of project management software are available, so it’s important to find the one that’s right for you and your team.
Project Management Software Features
One of the primary objectives of project management software is increasing productivity by automating repetitive and time-consuming tasks. Another aim is to use data analytics to deliver meaningful project reports. To support these goals, these are some of the principal components of the software:
- Project resources: helps manage resources including time, personnel, dollars, and everything needed to execute.
- Project scheduling: helps manage time to plan and manage projects; it can include features like task management, resource management, and timeline creation.
- Project scope: Ensures the project’s scope is properly defined.
- Project meetings: Manages project meetings, and personnel working on same.
- Project Goals, Deliverables, and Tasks: Identify the project’s goals, deliverables, and tasks.
- Project Collaboration Including Goals: Supports communication between team members with features like team chat, and document sharing, making it easier to share knowledge, progress, and challenges.
- Project tracking: Assignment of tasks, and monitors progress with features like milestones, deadlines, dashboards, and status reports. Allows everyone on the team to see task assignments and completed tasks. Helps find bottlenecks and areas in need of resources. Some software also includes cost management tools for project cost projection and tracking.
- Project measures: How each organization measures the success of the project.
- Project documentation and reporting collect information throughout the life of the project, including schedule updates and team changes. Using real-time project data for accurate project reporting is one of the most critical features of project management software.
Types of Project Management Software
Besides being categorized by function, the deployment of project management software is often used to describe it. On-site solutions are hosted on an organization’s internal network, with access limited to connected devices. Cloud-based solutions are hosted in the cloud and accessed via dedicated apps or web browsers. For small projects, single-user project management applications are available online that offer pared-down features and a simplified interface.
Project management software packages offer an open API, allowing users to tailor the system according to company policies and preferences. These applications provide the ultimate freedom to adjust the features to align with an organization’s business requirements.
Why is project management software useful?
During the COVID-19 pandemic, many in-person interactions at work moved online, accelerating the move to digital platforms to support business operations. Experts forecast the project management software market will grow to $9.81 billion between 2023 and 2028. This means there are a lot of options available.
“Technology and tools are useful and powerful when they are your servant and not your master,” according to business educator Stephen Covey. The best project management software is flexible enough to fit your business needs rather than dictating how you manage your projects. It can help project leaders and team members focus on KPIs in real time when used properly.
The collaborative tools project management software provides allow team members to work together in a virtual shared space where task assignments and progress are visible to all. This level of transparency fosters team engagement, a major factor in productivity.
The collaborative space also allows documents and other files to be shared between team members, even those working from different locations.
Project management software has become a strategic part of today’s dynamic business climate. Using digital tools to manage resources relieves managers and project leaders from what were previously tedious manual processes. Organizations can minimize project risk by tracking costs and progress toward completion using project management data.
The Key to a Productive Workforce
The COVID-19 epidemic disrupted in-person project management (in favor of remote, hybrid, and on-site), and accelerated the pace of digital automation. Being able to effectively manage projects in the new workplace ecosystem is vital to having a productive workforce. Instead of leaving project management to chance, invest in the right technology to get the job done.
coAmplifi’s software provides workforce and project management tools to help you create a work environment that is transparent, accountable, and compliant with applicable regulations.
Contact us today to learn how coAmplifi can boost team productivity and create a happy workforce.