Project Management Software:

Project management software is software used for project planning, scheduling, resource allocation and change management. It allows project managers (PMs), stakeholders and users to control costs and manage budgeting, quality management and documentation and also may be used as an administration system.

Successful project managers have loads of responsibilities – running meetings, planning and scheduling, managing resources and budgets, and analyzing reports to name a few. On a busy day, the workload becomes quite overwhelming. To automate time-consuming tasks and run a large team of professionals, managers need the best project management software solution.

Key Features of Project Management Software

• Project Planning. Be able to easily plan projects while taking previous track record into account. Tracking project evolution when it comes to completion, time and costs - Warn the right people when things are veering off track.
• Scheduling and Time Management. Be able to easily register time on work items and take people's work schedule into account.
• Resource allocation. Making sure that people are working on the right things at the right time. Project budgets, incl. costs of people - Keeping real-time check of not only time but also allotted budget.
• Communication and Collaboration. Easily post comments and concerns, communicate with external stakeholders, all while keeping a full historic record of all actions.
• Documentation & Files. Easily document requirements, specs, directly or via files. Easy to use - The software should be an enabler and not get in the way of actual work.
• No need for a specific method. Support the company's preferred method of breaking down any project, making schedules, allocating people and managing budgets.

Benefits of Project Management Software

• Collaborate on Projects. People are frequently designated individual tasks which are part of a bigger project the whole team is trying to complete. Project management software gives employees a method to collaborate on projects by discussing documents, timelines, outstanding work, etc.
• Internal & External Communication. Project Management software develops a funnel for communication concerning tasks & projects both internally, but also externally with clients and other stakeholders.
• Budget Management. Budgets are among one of the most important items in controlling your projects. The way forward for any business depends on how well you can deliver within the budgets provided. Project management software helps the Project Manager to determine the work budget (planned versus actual), so the work can be aligned accordingly.
• Monitoring. To attain long-term success for just about any business, monitoring the progress of the work is essential. Dedicated software plays an important role in monitoring the stages of projects, and can provide insights into whether things will complete on time or not.
• Document Sharing. Document sharing, whether inside the tool or in a integrated 3rd party system, enables people to find more comprehensive documents, specifications, etc., which enables transparency and communication.
• Communication with Clients and Suppliers. Companies should be able to talk about, and collaborate with clients and suppliers from the same place. Companies using project management software should offer their clients the ability to log in and view only their relevant project data. This way clients can provide direct feedback, make edits and review progress in the same place.
• Optimized Decision Making. Project management software solutions assist in making the right decisions as you have all the details in one designated place. Hence the decision process is enhanced and much more accurate.
• Enhanced Customer Satisfaction. When you get a project done promptly and under budget, the client walks away with a smile on their face - and a satisfied customer is one you will see again. Smart project management software offers the tools which allow this customer/supplier relationship to carry on. By applying fundamental project management software strategies, you'll narrow your focus, achieve your goals and improve your rate of success.

The ultimate outcome is that everybody comes out as a winner, which just might be the largest benefit of project management software.