Enterprise project management tools help big companies streamline disparate processes and reduce friction in information gathering.
But, with so many project management tools out there, it can be challenging to find the right software for your organization. Businesses need to consider multiple factors when choosing a project management tool, including cost, scalability, integration, and security, to name a few.
In this article, you’ll learn about different project management tools that big companies might use and how to implement them so that you can optimize your company’s use of project management software.
10 Project Management Tools Used By Big Companies
Here are some examples of enterprise project management software tools that big companies use.
Why Do Big Companies Use Project Management Tools?
There are three main reasons why big companies need project management tools to effectively track their project portfolios.
First, large companies can have hundreds of different departments and locations across the globe. With this level of reach and scope, using project management tools can help avoid miscommunication and missed deadlines. Project management software helps teams stay on task.
Second, project management software may help organizations stay on budget. When a project is delayed, large companies end up spending more money than originally planned. This then creates a domino effect since funds for other projects may be depleted.
Using project management tools not only strengthens team members’ accountability for individual assignments but also gives insight into cross-functional dependencies. The better that teams work together, the higher the chances of on-time project completion and the lower the risk of profit losses.
Finally, large companies often rely on building trust with external stakeholders, such as shareholders or advisory boards. To gain and maintain that trust, companies must show updated data and reporting on past and current projects. Project management tools offer real-time reporting that makes it easy for big companies to share project progress.
What Features Do Big Companies Look For In Project Management Tools?
Consider the following features when evaluating project management tools for your organization:
- Project planning: Big companies oversee and complete multiple projects at the same time. Project planning is an integral step to ensure team members stay on spec and on budget. Implementing a company-wide project management tool can help large companies kick off new efforts and continuously monitor project progress. Look for Gantt chart capabilities, work breakdown structures, and risk management features.
- Resource management: Using project management software can help companies divert funds to different projects. Enterprise project management software will often display real-time use of allocated budgets. This is another way large companies can avoid cost overruns.
- Communication: Big companies have several internal departments, so communicating between teams is important when completing large-scale projects. With project management software, departments can quickly and effectively assign tasks, share files, and report data. They can also collaborate with external stakeholders, as needed.
- Project tracking: Project management systems are great task management tools. Real-time project data and metrics outline what work has been completed and what still needs to be done. Team members can also view each other’s tasks and provide asynchronous status updates, reducing the need for boring status meetings and improving productivity.
- Project reporting: Big companies often rotate team members across projects in response to fluctuating demand. Project management tools offer useful project summaries so team members can quickly understand project scope and goals and get up to speed on their new assignments.
Also keep in mind that enterprise project management tools typically offer broad customization capabilities so that large companies and individual team members can curate the project management app to fit both project portfolio objectives and personal working styles. Many providers offer both a free plan and a paid plan version of the software, which offer different features or tiers of access. Make sure that the plan you choose has all the features you need.
Choosing An Enterprise Project Management Software Solution
Enterprise organizations typically handle large-scale, complex projects that require multiple team members, complex workflows, and extensive collaboration. It’s important to find a project management solution that can handle the scope of a large-scale project yet also aligns with your company’s priorities and goals.
Before you get to the point of choosing a specific tool, first identify what your company wants to achieve by implementing enterprise management software. Here are some questions to consider:
- What types of projects does your company manage? Are these the types of projects you expect to manage in the future?
- What are your most important operational functions?
- What operational problem(s) do you want to solve?
- Do you have leadership and team buy-in to use and maintain the PM tool?
Next, consider your company’s day-to-day tasks in the context of your company goals and portfolio composition. For example, if you’re a content marketing firm, you’ll probably prefer a visual project management display to communicate design concepts to external stakeholders. If you’re a financial firm, you may prefer a spreadsheet view to facilitate analysis.
The types of projects and tasks your company completes on a daily basis, in combination with your existing enterprise project management framework, will help you prioritize different software capabilities.
Once you’ve assessed your company’s needs, research and review different software programs to determine which project management tools would work best for you. As part of your research, also consider which PM software options work well for your competitors.
Project Management Tools At Small Businesses And Medium Sized Businesses (SMBs)
SMBs by definition have fewer departments, project managers, and team members, and tend to work on fewer projects than large businesses. Additionally, because large organizations have several departments, they can oversee multiple large-scale projects at once. SMBs often don’t have the need or the resources to run multiple projects simultaneously.
As a result, SMBs don’t require as many software capabilities as large businesses. While project management tools for large companies focus on portfolio management and reporting capabilities, many project management tools for SMBs emphasize team productivity and organization.
Need expert help selecting the right Project Management Software?
If you’re struggling to choose the right software, let us help you. Just share your needs in the form below and you’ll get free access to our dedicated software advisors who match and connect you with the best vendors for your needs.
Implementing project management software is a great way to optimize your company’s productivity. Project management tools are designed to help large companies plan projects, allocate resources, report data, and collaborate.
After identifying your company’s goals, you as the project manager can choose a project management tool that is customized to the needs of your project team. Even after narrowing down your search, it can still be challenging to select a system for your company.
Subscribe to The Digital Project Manager newsletter for how-to guides, tips, and software reviews for small and large companies.
Make sure to download our PDF guide to enterprise project management for all you need to know on the subject.
Not looking for enterprise software? Here's some related lists of project management software:
- Best Project Management Software Comparison, if you're looking for the best overall PM software.
- Best Project Management Tools, if you're looking for broader PM tools with a wide range of features.
- Free Project Management Software, if you're on a tight budget and need a free or freemium software.
- Team Collaboration Tools, if you're looking for software to bolster team communication & collaboration.
- Best Resource Allocation Software, if you need specialized software for planning and allocating resources.