How Project Management Software can Benefit your Small Business

FILED UNDER: SMALL BUSINESS, BUSINESS ADVICE, ACCOUNTANT WAGGA, PROJECT MANAGEMENT


Managing projects requires good decision-making, time management, organisation and excellent communication skills -- skills that an ideal project manager should possess. But even with the best project managers on your team, projects can still fail. If you want to improve your chances of success, you may want to consider using project management software.


Here are a few benefits of using project management software:


Faster planning


A project's scope statement defines what its goals and deliverables are, what is needed to achieve them, the amount of time it would take to complete the project, and how much it will cost overall. One of the benefits of using project management software is its ability to make the development of a project’s scope statement easier; planners would only need to input the specifics of the project, and the software will draft a statement for them.


Effective execution


No matter how detailed a scope statement is, the absence of proper execution will mean that all the work that has gone into planning the project will go to waste. This can also lead to dependency and resource allocation issues, delayed deliverables and miscommunication among those involved. Project management software can help managers execute projects efficiently by ensuring that all resources are being utilised at maximum capacity and according to plan.


Monitoring and tracking


Project management software uses worksheets, calendars, charts, checklists and other tools to help managers keep tabs on all aspects of a project, from completed and pending tasks to approvals and escalations, providing a bird’s eye-view of all things that are happening. This allows them to react quickly when a problem arises.


Easy documentation


One of the tasks of a project manager is to ensure that everything that happens in a project is properly documented. Record-keeping is important in projects because aside from ensuring that tasks are executed the right way, it also keeps liabilities clear. In addition, it also helps identify best practices and ensures that mistakes are avoided in the future.


Many project management software products have documentation features that allow managers to automatically keep records of all activities in a project. With this, everything is recorded and can be accessed for reference later on.


Smoother processes


On many platforms, it’s possible to map out all of the processes in a project and identify how much has already been completed as the project goes on. Because all deliverables are plotted, it’s easier for team members to know what to do or what to prioritise, which in turn enables faster completion times.


Enhanced customer satisfaction


Because processes are smoother, completion times are faster, resources are used efficiently and issues are addressed as soon as possible, clients are happier and escalations are avoided. This not only brings in more income for your business, but also presents more opportunities.


If you’re in need of help in improving the bottom line of your business, get in touch with the experts at Easdowns today! Our business and financial advisory services can help you take advantage of the full potential of your business so you can achieve your goals and secure your financial future. You can get in touch with us through our Contact Us page.