Let’s face it, all project managers (PMs) have forgone the use of project management software from time to time when managing a project. Whether on a small-scale project at a large corporation, a large project for a small startup, or anything in between, most of us PMs have reverted to Excel, Google Docs, or even old-fashioned paper and pencil at one time or another. The problem is not that using these basic tools makes it impossible to manage a project, it is instead that they often result in the PM spending a disproportionate amount of time on administrative activities that do not help the team focus on the project. With all sorts of different project management software products on the market, PMs no longer need to resort to these more manual, less efficient tools.
What are the benefits of project management software?
Project management software is a tool specifically designed to assist teams in planning and organizing project schedules, allocating resources, and reporting out project information. Below are a few key benefits of utilizing PM software in lieu of less sophisticated management tools.
Centralized management. PM software can create centralized artifact storage and serve as a single hub for project communication. Along with schedule management, many PM software tools allow users to link or consolidate project documents within the software itself. With the growth of remote work, a centralized station for information is more important than ever allowing for clear accountability, standardized messaging, and more efficient collaboration.
Version control. PM software improves a PM’s ability to manage version control and reduce the risk of errors. Many of the newer, cloud-based PM software products can be shared with as many internal and external stakeholders as necessary, with the PM controlling the degree of information shared to each user. More controlled editing environments help to mitigate the possibility of project details being accidentally overwritten or incorrectly adjusted.
Enhanced planning and scheduling. PM software allows users to automate schedule adjustments through use of task dependencies. This automation takes the guesswork out of changing multiple timelines, quickly highlighting the impact to key deliverables when one activity is delayed or completed earlier than expected.
Reporting functionality. PM software makes report creation more efficient, allowing for more effective reports. At the click of a button, a PM can create customized reports for each project stakeholder, highlighting only the tasks for which they are accountable. PMs can create dashboards complete with to do lists and Gantt PMs can easily put together dashboards complete with project details, key performance indicator (KPI) reporting, and Gantt charts to track progress that are automatically updated.
Other top tools and capabilities PM software can provide includes the quick calculation of the critical paths through activities and availability of digital Kanban boards. Critical path calculation enables more effective prioritization and risk identification by the team, while Kanban boards allow teams to visualize activities and easily reprioritize when inevitable changes need to occur.
How to choose the right software:
Every project, team culture, and company budget are different. It is important to understand your organization’s strengths and priorities. And of course, regardless of the selected software, a PM will need to leverage their Emotional Intelligence skills to help their organization shift from historical tools and systems used, to this new management model.
Here are a few questions to have your team reflect on as you consider the best PM software to meet your needs:
What is your budget? Your organization’s size and budget will inform which PM software meets your cost requirements. While this is an important consideration, it should not be the only one – there are sophisticated project management tools available for all budgets. At the same time, just because your organization can afford more expensive software does not mean it needs all the bells and whistles of the more costly tool.
What tools do you plan to use within the software? Software packages range across the spectrum from ones that provide simple scheduling capabilities to ones that can help you run Monte Carlo simulations and velocity charts. Think both about the current state of your project management tools and processes, as well as more advanced features your organization might benefit from in the future.
Which team members and how many users will need access to edit documents, create reporting dashboards? How easy or intuitive does the software need to be? Remember, it will be a cultural shift to move towards adoption of this software across the organization, so you’ll want to ensure your teams are not overwhelmed by a less intuitive product. At the same time, avoid software that is so simple as to cause the team to question its value.
What methodology do you plan to use – Waterfall, Agile, or a hybrid method? Teams using the Waterfall method will be satisfied by a product that allows for a mostly stabilized schedule and workflow. On the other hand, teams using Agile or even a hybrid approach will want to find tools that allow for more flexibility and easy workflow adjustments.
With so many options out there, choosing the best PM software for your team can be a daunting task. However, it’s worth taking the time to assess your needs and select the right tool to meet your needs. An investment in the proper tools will pay for itself in no time, as your team increases its efficiency and expedites your return on investment (ROI).
