Why You Need a Project Management Tool to Grow Your Business

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What Is a Project Management Tool?

In today’s highly competitive global business ecosystem, the ability to execute projects on time, on budget, and in alignment with corporate goals is critical. Project managers play a crucial role in that. They have a difficult job that requires analytical thinking and excellent organizational and interpersonal skills. Sometimes they look for a tool that can help them in their tasks, and project management tools step in precisely these moments.

 

What Is a Project Management Tool?

Individuals and teams may use project management software to organize better and manage their projects and responsibilities. Typically, the term applies to project management software that you may buy online or use for free.  

Project management tools aren’t exclusively for project managers, despite their name. Project management software may be tailored to meet the demands of teams of various sizes and objectives. The following features may be found in project management software.

  • Planning: With tasks, subtasks, folders, templates, workflows, and calendars, project management systems allow you to plan and assign work in one location.
  • Collaboration: Email should not be your sole means of contact; project management systems allow you to assign tasks, make comments, create dashboards, and verify or approve changes with your team. 
  • Documentation: With file management capabilities that allow editing, versioning, and saving files, you can avoid lost or obsolete files.
  • Evaluation: Resource management and reporting are used to track and measure productivity and growth.

How to Choose a Project Management Tool

There are so many project management tools on the market, so finding the right solution for your team might be difficult. Too frequently, team leaders purchase a project management tool only to discover that they are the only ones utilizing it after a few months. When evaluating tools, keep in mind that a good project management tool should meet two foundational criteria: First and foremost, it should include all of the capabilities that a project manager needs. Second, the tool should be one that your entire team is enthusiastic about using.

It’s easier said than done to meet both of those goals, so here are nine critical steps to ensure your team picks the ideal project management platform for your unique needs.

  1. Define the tools you’ll want in project management
  2. Look into the finest project management software
  3. Test out the tool
  4. Get feedback from your co-workers
  5. Evaluate the cost
  6. Acquire executive support
  7. Get the project management software
  8. Install the project management software
  9. Perform a retrospective analysis

Although this list is relatively straightforward and basic compared to many other detailed versions, it helps you identify the most fundamental requirements and best tricks for using any type of project management tool.

Benefits of Project Management Tools

Project management software has numerous advantages. A pencil, a sheet of paper, and a technique were once the three icons representing project management software. Time, on the other hand, passes and technology advances. Project management software is now used for project planning, time management, resource allocation, and change management, among other things. 

Project management software is one of the most critical elements of growing businesses in understanding how to become more competitive and set your respective project apart from the competition. Without getting lost in the details, here is a basic overview of the possible benefits that the excellent features of project management tools provide.

Better Planning

It should be simple to plan tasks while taking prior experience into consideration. 

Monitoring the Progress of a Project in terms of Completion, Timeliness, and Budget

When things start to go wrong, notify the relevant people. 

Time Management and Scheduling

It should be simple to track time on work items and consider people’s work schedules. 

Allocation of Resources

Assuring that individuals are working on the appropriate tasks at the correct times. 

Budget Making, Including Personnel Expenses

Keeping track of the time and the budget provided in real-time.  

Collaboration and Communication

Post comments and complaints quickly, engage with external parties and retain a complete history of all activities.  

Files & Documents

Easily document requirements and specifications, either directly or through files. 

Simplicity

The software should be a facilitator rather than a hindrance to actual labor. Moreover, supporting the company’s chosen approach for breaking down projects, creating timetables, assigning employees, and managing budgets.

Most Common Project Management Tools

The finest project management software allows teams to coordinate projects and tasks straightforwardly and easier. With a substantial number of employees already working from home due to the pandemic, project management software is more vital than ever, letting remote teams easily plan projects and tasks. Here is a list of the most commonly used project management tools, consisting of six of them that you can also utilize within your projects and plans to boost the overall efficiency of your staff and team.

Asana

Even if you’ve never used Asana, you’ve probably heard of it. While it has a lot of valuable tools to help you be more productive, it focuses more on tracking. For example, if you’re worried about who’s working on which projects, you may access a list of teams and individuals, as well as a search option to quickly locate completed jobs.

Trello

Trello has become one of the most popular project management software in recent years. You may use a computer, tablet, or smartphone to manage all of your business and personal tasks. Trello gives flexibility and freedom to decide which device to use. Moreover, it has a great number of clients. Fender, Google, and Kickstarter are among the companies that utilize Trello.

LiquidPlanner

LiquidPlanner has a robust feature set for enterprise-grade project management. It is preferred by Fortune 500 companies like Bayer, Cisco, and Daimler. For example, the Smart Schedule feature may help prioritize work, assign personnel management, and anticipate the hours needed for completion, enabling the project to be monitored based on the hours committed to it by the designated personnel.

Basecamp

Basecamp has been operational for more than a decade, is among the earliest project management solutions and acquiring a reputation as a reliable tool for businesses operating on significant projects. The app’s most recent version has a range of advantages, including the option to send instant messages for brief discussions, set up a program so that you will only receive alerts within work time, and show your appreciation to peers by hitting an applause icon.

Zoho Projects

Another project management tool, Zoho Projects, lets customers book, coordinate, and work together on projects while leveraging Gantt charts to visualize activity and deadlines in detail. There is even more functionality for documentation, multitasking, and mistake tracking and rectification. In addition, Zoho Projects has numerous integrations available, including Slack, Google, and Dropbox, so that you can scale your projects and business at ease.

Podio

Using the Podio app, you may create tasks and modify these depending on your workflow, keeping in mind schedules and obligations. You can also leverage the built-in instant chat function to exchange ideas and monitor how others work with contracted assignments. With Podio, you can quickly get rapid feedback without having an obligation to send numerous emails.

Closing Remarks

It is almost inevitable that you need to utilize a project management tool to boost your performance and effectiveness as a company. There are several reasons behind it, and regardless of your motivation, be sure that you will find what you really need within all of these tools. No matter what, adapting to the new requirements of the modern working environment, a project management tool will help you keep the energy you need to get better in business.


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