Project Management Software

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Manage teams, scope, time, resources, and more with ease using the best Project Management software on the market - compare and buy here!

Last updated May 2024
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Choosing a Project Management Software Service

Project management software plays a critical role in empowering project managers and organizational teams to meet organizational goals as they manage resources and cost of an organization. Project management software (PMS) have become increasingly popular over the past decade due to the grown complexity of managing projects. Today, companies rely on PMS systems to oversee multiple tasks, including storage and analysis of data, compiling reports, making project presentations, and mitigating project-related risks. With more project management service providers venturing into this market, it can be quite overwhelming to identify the best PMS for your business. This guide outlines fundamental issues that are pertinent to choosing a project management software service.

The Key Features of a Project Management Software

Project management software comes with multiple platforms, each of which is distinguished in functionality and operationality. It is vital that you identify and choose a PMS with a mix of functionality that suits your business operations. Here are the key features that describe most PMS systems.

  • Collaboration

It can be quite a challenge to keep the moving parts of a project connected, especially when the project is already running. The collaboration feature of a PMS system enables project managers to bring the involved departments on the same page. This way, different departments can have a comprehensive solution to documents and message sharing. Although messaging and document sharing solutions can be procured as stand-alone tools, a PMS system provides these solutions under one platform.

  • Tracking

PMS systems are also focal when it comes to tracking resources. Time tracking, for instance, enables a project manager to manage part-time and remote employees. This feature can also be used to establish how much time a project contributor takes to complete an assigned task. Expense tracking, on the other hand, highlights the total cost of running a specific project. An expense tracker goes a long way in assisting project managers in forecasting future project expenses.

  • Task Management

Task management is probably the most essential feature of every project management software. It involves assigning tasks to the various members of a project team. Some projects, however, can be quite complex, requiring multiple departments to handle specified tasks. It is vital to get a PMS system that allows a project manager to assign tasks across all departments, as well as monitor the progress of each assigned task.

  • Planning

Projects cannot be run without proper planning, and this is where a PMS system comes in handy. The planning feature allows project managers to hire people with the right skills and forecast the resources needed to complete a project. The system goes ahead in scheduling tasks to project teams, predict completion time, and allocate resources efficiently.

Differences between Different Project Management Software Services

Project management software services differ in various aspects. Knowing how these systems differ will help you in identifying and procuring the best tool for your business or company. Here are some factors that distinguish PMS system services.

  • Service Integration

PMS systems vary in how each software allows for integration with other tools, such as reporting, accounting, and communication systems. You want a tool that will be compatible with all your business systems.

  • Security Functions

Most PMS systems will come with great functionalities. However, if the security of a project management software is not secure, then the integrity of your project might be at risk of jeopardy and corruption. This is where various PMS systems stand out from the others. It is, therefore, essential to consider the security features of a service provider before procuring the software. Look out for a dedicated hosting platform and the right encryption when the software is being hosted online.

  • Real-time Reporting

Gone are the days when reports about the status of a project were compiled after a day or a week into the project. With real-time reporting, you can monitor and make a report on a project as it runs. This feature is essential in ensuring you monitor the progress of the project. Should you need any improvement or changes implemented to the project then you can do so early enough before the project advances. However, not all PMS service providers have an effective real-time reporting solution. That is why it is important to choose a PMS system with real time reporting for effective management of your project.

In Summary

In the past few years, businesses have used project management software systems to gain a competitive edge as far as successful completion of projects is concerned. Essentially, project management systems are procured for project tracking, collaboration, planning, and task management. With these features, PMS systems come with a bunch of benefits for a business. The pros of project management software include saving time, enhanced company organization, optimized decision making, and enhanced customer satisfaction. The software also helps in document sharing, budget management, and communication.