The Fundamentals of Project Management Softwar

What would happen to projects (regardless of their size, scope and cost) without – Project management?  Well, perhaps they would, fail! It’s because project management refers to the utilization of skills, technological tools, data and scheduling methods to project activities or tasks in order to properly plan, initiate, execute, monitor and complete a project. But, the main difference between regular management is that project management has stuff like deliverables, which depend on time, budget and work scope. So, to effectively complete projects, you need to use project management tools like the primavera software and others. Here’s a peek at the fundamentals of project management software.

What is a Project Management Software?

In your project management team, do you use tools and technologies like the primavera software? Well, if you are, then congratulate yourself and your team, because you made the right choice!

Why? Because project management software is an absolute necessity in today’s highly-competitive, and totally unpredictable world, even before the onset of the COVID-19 pandemic. 

What are the major components of a project management software? Well, for starters it allows you to centralize the scheduling, project planning, cost control, budgeting, real-time communication and collaboration of a certain project, just like what you’ll find when using the primavera software.

Depending on the finesse, or the advanced nature of the project management software, the tool could even enhance the project manager’s decision-making abilities, which allows for crystal-clear viewing of the whole picture, and thus helps to identify the elements of the workflow that are not up to functionality.

With technology coming a long, long way in speeding up our daily lives, it is only natural that new software and disciplines, like the ones for project management, become more service-based, and provide an environment for more enhanced collaboration.

It has been a long time since the invention of the Gantt Chart in the 1920s, although the basis for this tool is still very much relevant today.  Well, even the most advanced project management software, like that of the primavera software, still features a Gantt chart, although they have a more user-friendly interface.

The Main Functions of Project Management Software

Today’s project management software is used in several different industries, market segments and sectors, and there are a wide array of options to choose from too. Although there are certain differences and formats to choose from, the main purpose of software like this is constant, which is to smoothly enable the planning and tracking of tasks and main objectives within a project while keeping in sight its stakeholders and resources).

Today’s project management software has also evolved in various ways, so much that it not only helps with planning and executing project related tasks and activities in order to meet deadlines, but they also help in making more accurate estimates,  and by monitoring project costs.

According to experts, the main functions that any project management software should have include the following: Task management, time tracking, resource allocation, metrics and more.

In terms of task management, the project management software must offer the capability to set schedules, assign projects tasks and describe how each member of the project team interacts with each other.

These tasks are appointed deadlines and status reports. In order to simplify collaboration between teams, the project management software must also include a central file depository where each and every stakeholder will have easy access to it, and thus enhance team collaboration.  Other software features that could help with team collaboration include messaging, file sharing and an open dashboard where everyone could view the essential metrics.

For time tracking, the project management software should have a system that’s user-friendly and accurate.  Remember that time management and control are a necessity, and is a key aspect in a project plan.

Besides, everyone involved with the project must not lose sight of all critical aspects, from working hours to delivery times and payment schedules. In addition, a truly useful project management software should allow for the allocation of resources based on the productive capability of each and every member of the team. One of my friends who is into project management says he sees this function in the primavera software that they use.

Metrics also greatly helps with decision making in handling projects. For example, the information about project cost is one of the most crucial insights in managing and completing projects.

Why? Because it helps to understand if projects will be profitable, cost-effective, without considering deadlines and the client’s own level of satisfaction. This type of information will also help enable changes in the costs of services, and it will also allow for the reevaluation of services which might not be worth offering (or not worth spending for).

And, depending on the objective, project management software could be organized according to functionality, type of industry or project management tool used as their base. Project management software could be divided based on user utility and their bond to each other, and the categories include – Individual, Collaborative and Integrated.

Individual project management software are used by a single project manager, and could take the form of a spreadsheet, or a simple application which has all the tools required by the manager. It could be installed across the organization, although some users may have no connection to each other in this user interface.

Collaboration project management software works by bringing entire teams together, but it can be accessed, viewed and worked on by other team members (and it can be customized too). 

AN integrated project management software is hailed as the best software for project teams especially if it has several projects executed at the same time. The data from current and previous projects is connected in a single mainframe that’s accessed by multiple teams working on different areas. 

Again, one of my friends in the project management field says that the primavera software offers this capability, which has helped his team plan, implement and complete projects on time (and within their desired  budget range)