In our previous article, we discussed the impact of PM software on communication, collaboration, and scheduling. However, the software also has several other benefits, which will be discussed below.
4. It allows you to track the progress of your project
It is possible to track a project’s progress and the time and effort that team members individually put into a task. The PM software gives a complete picture of the team’s performance and workload, so we know at any moment if we need to reorganize resources or tasks. You can track a team member’s time taken and success rate to complete a given task and adjust project milestones accordingly. Monitoring the project process in such detail and granularity makes it easy to identify areas for improvement and optimization.
How does the PM software allow me to track the project’s progress?
Time tracking. Employees’ time can be tracked not only when they are in the office but also when they are in the field. Thanks to the mobile app, team members can log in to the platform from anywhere, anytime, so you’ll know exactly how much time they’ve spent working on the project.
Workload monitoring. Personalized calendars make it easy to see employees’ tasks and when they are due.
Timelines. They can be reported in graphs and charts. They make it easy to see who is doing what, where and when, who has what responsibility, and which tasks are related to which.
Reports. The system generates them based on team members’ performance time, time invested, and the project’s progress. These reports can be accessed at any time via the dashboard.
5. Make cost management more efficient
Project success is most often measured by stakeholder satisfaction (20%), meeting deadlines (19%) and staying within budget (18%). Budget is a critical component of project delivery, and statistics show that a successful project was delivered on time and on budget. Whether a project is successful depends mainly on how well we can keep costs within the planned budget. The PM software will help you set the budget and outline what was planned and achieved, so you will be notified as soon as you have exceeded the allowed limit.
How does PM software make cost management more efficient?
Automate tasks. Automation can save time, energy, and resources, resulting in lower costs and greater savings.
Collaboration. Collaboration reduces the time needed to complete tasks and minimizes the frequency of conflicts and misunderstandings. Collaboration saves both time and money.
Allocation of resources. Resources can be reallocated as needed. This avoids overloads and under-utilization of capacity, which would lead to additional costs.
360-degree visibility. You’ll have insight into everything from employee work, performance, and potential problems, so you’ll know precisely which phases and steps to focus on.
6. Increase customer satisfaction
As mentioned above, stakeholder satisfaction is the most important measure of project success. Who are the most critical stakeholders in a project? Of course, the client who has entrusted us with the project. With PM software, the most effective tools and best practices can be applied to deliver the best results on time and within budget, while keeping the client informed at every step and milestone. A successful project enhances the company’s reputation and credibility and attracts more customers.
How does PM software increase customer satisfaction?
Customer access allows the client to view relevant data, reports, and other information about the project and provide feedback.
Visibility. “Snapshots” of the project status and phases can be shared with stakeholders—the client, management, team members, or suppliers. This way, everyone will be informed about the project’s progress.
These would be the most significant benefits of PM software. No two companies are the same, so the benefits can manifest in many ways. But one thing is for sure: if used correctly, PM software can significantly improve the way a project is run and, therefore, contribute to its success.