The world is embracing the fourth industrial revolution, which is associated with the automation of systems and processes. The revolution has been hastened by the current Corona pandemic, and it is expected to alter the way we live, work, and relate. Small-, medium-, and large-scale companies and businesses are expected to integrate technology systems to cope with the demands of the current and future situation. Most of these companies will probably consider implementing project management software because of the anticipated changes in this field. In this regard, it is crucial to determine the best features to scrutinize when selecting an online project planner for businesses. This blog outlines the functions and limitations of the conventional project management framework, an overview of project management software, and features for the best program.
Common Conventional Project Management Framework for Businesses
Companies and businesses play a crucial role in any economy by providing employment, innovation, and growth. PMI explains that Organizations undertake projects to deliver products and services to clients. Customers expect high-quality products and services and should be delivered within a short duration. Businesses strive to reduce costs, maintain quality, and decrease delivery time. The targets by the clients and organizations can only be attained through the implementation of an effective project management system that ensures product/services quality, reduced production costs, and decreased throughput time. As a result, most small, medium, and large-scale businesses have some sort of project management framework.
The activities of an organization are divided into operations and projects. Operations are repetitive and ongoing activities, whereas projects are unique undertakings performed within a specific time frame. Both operations and projects should be effectively executed through management frameworks to ensure success. Project management has been practiced since time immemorial, but the modern systems appeared during the second world war. The systems were employed to regulate big military operations and projects. The practice of project management has since grown and spread across the globe. Conventional project management systems include a set of theories, methodologies, principles, and practices. The functions of the conventional systems in project management include:
-Schedule and budget monitoring and control – projects should be completed within a set timeframe to avoid additional costs. They should also be kept within the set budget to avoid incurring losses. Project management systems are employed to predict factors that might change a project’s schedule and budget. The stakeholders then use this information to mitigate the situation and ensure that a project remains within the set schedule and budget.
-Project quality and risk monitoring and control – a project management tool should ensure the quality of a project by providing inspections and audits.
Disadvantages of the Conventional Project Management Systems
The systems normally consider a specialist to examine a set of data to monitor a project’s quality, risks, schedule, and budget aspects. Such systems are limited when analyzing complex projects that involve numerous datasets. With the increased use of the Internet and the generation of huge information (Big Data), it has become difficult to rely on traditional project management. Hence, there is a paradigm shift to modern project management systems, in the form of software.
Overview about Modern Project Management Software
As mentioned, project management has undergone tremendous improvements and changes since the second world war. Currently, a plethora of project management software exists. The software serves the same purpose and the conventional framework, but they use digital devices and firmware. The systems crunch the numbers without the need for an expert to provide crucial information that can be employed to make pertinent decisions about a particular project. Hence, modern project management software applies to complex projects and they are accurate because smart decisions are made from the analysis of Big Data.
Features of the Best Project Management Tools
A myriad of project management tools available for one to choose from. However, most individuals have a dilemma when selecting the most suitable project management software. One must consider the following features that make the best project management software:
Technical skills required – a suitable project management software should be able easy to use, such that team members can work virtually on their own.
Promote Communication– an appropriate project management software should promote communication between stakeholders. Projects are normally implemented by a group, where individual(s) have specific functions to undertake. Members should work together to ensure the success of a project, which can only be achieved through effective communication. As a result, a suitable project management system should promote communication through various means, such as texts, pictures, audio.
Address the company’s needs– most businesses face the problem of improper project management packages. Organizations fail to identify the most suitable software for their organizations. Hence, before purchasing a project management software, the administration should consider opinions from all the stakeholders to determine the exact problem which should be solved. Then, after critically appraising the specific features of the many available project management software, it is advisable to buy software on a trial basis. The company will determine whether a particular software can address the problems they are facing. The trial period also allows businesses to identify features that can be integrated into a system. Hence, suitable systems should be scalable and customizable.
Functionality– a suitable project management software should address the problems faced by a company. It should also contain all the features required for project management, such as planning and scheduling, documentation, reporting, resource management, and budgeting.
Cost- a suitable choice of PMS Tools should be affordable. Numerous project management software exists and they address the same issue. Therefore, it is advisable to conduct an extensive background check to determine the most affordable project management software.
-Scalable and Customizable- a company’s needs are dynamic and depend on both internal and external factors. Therefore, suitable project management software should be scalable to accommodate the growth of an organization. It should also be customizable to address all the specifications required by a client.
Security– most companies are shifting most of their operations online. However, hacking activities have increased in numbers and sophistication. Therefore, before purchasing any project management software, one must ensure that it is secure to prevent cases of cyber-attacks that result in devasting impacts, such as financial/property damages or loss of confidential information.