10 Benefits of a Project Management Software System

10 Benefits of a Project Management Software System
By Cora Systems

Gone are the days of post-it notes and white boards as a way of managing the components of a project, today a business has the opportunity to invest in a system that will provide them with the necessary control and visibility of their system of work.

Whether your business is small, medium or large, a project management software solution can provide your business with the structure and organization needed to manage numerous tasks, projects, programs, time and resources. A project management system allows project managers to have strict guidelines in place to enable them to get from their current position to their ideal one. A project management system can be the lifeline for an organization as budget, time and resources are put to their best use.

So what benefits can a business gain from implementing a project management software solution?

1. Tracking: Tracking the progress of your projects and programs is important for the long term success of your business. A project management software system will give you the visibility to see if a project is running to its predetermined time frame, what has been done and what still needs to be complete. The software reduces the need for paper or electronic updates from the project team members to their project manager.

2. Resourcing: The project management system ensures that the optimal resources are working on the right projects by examining the level of skills and abilities needed to successfully complete the project. Assigning resources to tasks or projects through the project management system will ensure that each resource knows all the information needed for them to complete the project.

3. Communication: A project management system makes communication channels regarding tasks, projects and programs easier through the uploading and sharing of files, collaborating on an online space and emailing updates through the system. Communication channels with your customers/ clients can be made simpler also as business documents e.g. invoices can be sent directly from the project management system to its required destination and information on those customers/ clients can be kept on a virtual database to help with the follow up process that takes place.

4. Financial Control: A critical item in the management of projects is the budget and the way in which the budget is managed could ultimately decide the future of the business. The project management software gives the project manager a visual on the project costs, project budget (actual Vs planned), project cost data etc to ensure that projects and programs run to their assigned budgets, money is ultimately saved and not lost and generating a clear Return on Investment (ROI) on all projects.

5. Where are we now?: A PM software solution can easily tell an organization if they are in line with their initial requirements by taking a snapshot of the project at that point in time and examining some of the following:

   • Who is working on each task or project
   • Is there any time delays
   • Is the project keeping to its budget etc

6. Decision Making: When making a decision in project management all aspects of the project need to be taken into consideration. By using a project management system the decision making process is improved, as the information is all in clearly presented in one place.

7. The Edge: By having a project management system in place it could ultimately give you a competitive edge over your competitors. If you can complete a project more efficiently than the rest you it can give you that extra push ahead of your competitors.

8. Risk management: Out of nowhere a risk can throw a spanner in the works and cause severe problems resulting in the project failing. Project management software system can give you a platform by which risks can be flagged, tracked and correctly resolved to ensure that the risk has the lowest possible negative effect on the project.

9. Quality of information: The quality of the information is increased as only the information that’s needed is gathered and shown.

10. Keeping the boss happy: Ok this won’t provide the company with benefits however it will give you some peace and reassurance at your next meeting with the boss. The project management system provides you with all the tools to help your project come in on time and too budget keeping all involved happy.

Established in 1999, with over 12 years of experience in Project Management Software, Cora Systems have developed a highly functional, web-based system. Our skills and knowledge have enabled us to become a world leader in Project, Portfolio and Performance Management Software. We value our extensive client base and provide a comprehensive range of services to ensure our customers gains the full value and benefits from using ProjectVision. www.corasystems.com