When it comes to running a team, one of the trickiest things to get right is project management. Many companies struggle with their projects, either going over their budget or running past a deadline.
The list of obstacles that come with managing projects goes on and on: resource planning, task management, scope creep, personnel issues, going over budget, slow communication…it can seem like it never ends.
Project management software can help with these problems and make team collaboration smoother. From project planning to the end product, the right software can turn your team into a success.
Whether you run a small team or a group of a thousand, you’ll want the best project management software available. Learn how management software can save your business time and money before deciding what technology would work best for you.
In this article
- What Is Project Management Software?
- Project Management Software Saves Time
- Project Management Software Saves Money
- Find The Right Software For You
What is project management software?
Project management software is a program that assists every member in a team with project completion. As a management tool, project management software works for both small and large teams. It can even facilitate multiple teams cooperating on the same project.
Think of project management software as a digital assistant ready to take care of smaller tasks so you can focus on the bigger picture. Project management software has as much functionality as you require—it can handle a small task or multiple projects.
Here is a sample of the features project management software can take care of for you:
- Task management
- Project planning
- Project templates
- Project portfolios
- Project views
- Real time reporting
- Time & budget tracking
- Document and calendar sharing
- Gantt charts
- Team collaboration & communication
- Resource management
- File sharing & documents
- 3rd party integrations
Project management software saves time
More than anything else, time is the most valuable resource anyone has. It’s the most important aspect of resource management when it comes to personnel.
Project management can save time for every level of your project team:
- Users can organize their workload and pace themselves appropriately.
- Managers can see exactly where their efforts are needed and incorporate successful tactics in their next project.
- Leaders can monitor project progress whenever they like.
In each of these scenarios, valuable time can be saved when everything is at the project team’s fingertips. Let’s explore different ways project management software can save time.
When you implement management software, you’ll immediately have access to a better scheduling tool. Team members can be assigned tasks as they arise, and they can be notified right away as well.
You’ll never have to waste time trying to get a hold of anyone by making phone calls, waiting for a reply, or even walking down the hall to their desk. When you’re ready to assign tasks, using management software is like having the entire team sitting in front of you.
And the same goes for them: team members won’t have to waste their own time trying to figure out what they’re meant to do. Everything they need to know will be accessible to them in the spot where they need to look.
When you use the correct project management tool for your needs, you increase your interteam communication dramatically. Everything related to the project is contained within the same program, and that includes team communication.
You won’t have to pause your work to check emails anymore or switch between different communication apps. You won’t have to worry if someone has their phone off or they’re too busy to talk. Team members won’t be so focused on their work that they forget to check their messages. Those messages will be right there waiting for them.
Communication is critical when a project team has members from different departments. Trying to schedule meetings around everyone’s availability leads to delays in the project. However, with the right software, this problem will be history.
A management tool can keep everything organized for your project team. Every note, deadline, conversation, and task can be easily accessed at a moment’s notice. This beats the old way of shuffling through physical notes, hunting people down for information, and trying to piece everything together by hand.
Prevent scope creep
Scope creep is the tendency for projects to get off track. There are many reasons this can occur: weak leadership, undefined goals, vague ideas, the natural evolution of the project, unforeseen obstacles, and poor team involvement.
Scope creep eats up money, but it can be devastating for the time it takes to complete a project.
As a project management solution, the right software can reduce the risk of scope creep. The software gives project managers a better grip on their team, keeps everyone focused, promotes better collaboration, helps communication when problems arise, and ensures the entire team is up-to-date at all times.
Project management software saves money
A project management software could offer all the time-saving benefits and fancy capabilities, but there’s one thing it has to do to be worth the investment: save money.
A good project management tool does exactly that. Here are the ways project management software can save you money.
As you’ve already read, the appropriate software can save you a lot of time. And you know that old saying: time is money.
When your project team doesn’t have to search for everything, more of their time goes to the actual project. This can drastically reduce wages paid for searching for items that should be available at all times.
Some quick math can illustrate this point. An employee has 40 hours logged on their timesheet for a week. They spent 10 minutes a day looking around for information they need. That totals up to 50 minutes a week, or over 43 hours in a year, trying to find what they need.
Implementing a project management system can eliminate that waste. As a bonus, it reduces team frustration because everyone has everything they need when they need it.
With project management software, a project manager can spot redundancies before they turn into resource sinks. The manager can then assign tasks to more beneficial areas or eliminate them altogether.
Management software can also help a manager identify recurring tasks and take care of them in the most effective way possible.
Finally, one way to help reduce redundancies is for a manager to have access to data that shows what worked and what didn’t on previous projects. A project management system can provide that data to managers and anyone else who needs it.
When this information is utilized successfully, redundancies and errors in future projects can be easily avoided.
As nice as it would be to have the same team for the length of a project, that’s not always possible. Whether you need a bigger team or to replace someone, training the new person is a significant resource commitment.
However, new team members can be integrated quickly with management software. This is because the software puts the entire project in front of them. They can see who does what, communicate efficiently, see all their assigned tasks, look at what’s already been done, and ultimately get to work faster.
This also frees a team member from playing the role of trainer and giving up some of their precious time. This means fewer wages paid for training and more paid for work on the project.
Cost management is one of the trickiest aspects of project management. Without the right system, keeping the costs of a project within budget can feel like a puzzle—while people are adding and taking pieces away as you work.
Management software puts all the pieces of your project’s cost right in front of you. It’s easy to monitor your overall budget and keep track of where your money is going: which areas are starting to spend too much and who needs a little more.
In 2020, US workers found out how many jobs could be completed from home. Since then, remote work has exploded in popularity. While it doesn’t work for everyone, remote work is a growing trend that probably won’t disappear anytime soon.
Having a remote team can challenge anyone managing projects, but a management tool can make it more manageable. In fact, without a project management system, having stay-at-home team members would be almost impossible.
The importance of managing your team can’t be stressed enough when the work is remote. While it’ll still save you time and money, the best remote project management tool will be what makes your projects possible.
Find the right software for you
The right project management solution can change poorly performing project efforts into successes. Everything from a small team to multiple projects occurring simultaneously can benefit from a strong management tool.
Not only will your projects run smoother but you’ll also save money and time. You’ll also have better resource management and happier employees, from team members up to your managers. Everyone benefits when management software is introduced to a project.
Get started on finding the best software for your needs with these options: