How to Measure the ROI of Project Management Software
By Jesse Jacobsen
Keeping projects under budget is no easy feat. In fact, around 85 percent of projects go over budget. The idea of unnecessarily investing funds in project management software that results in no significant – or worst, negative – return on investment (ROI) is just too risky for many managers. Before purchasing any sort of PM solution, it’s important for you to be confidence that your investment will have a significant return.
Unfortunately, determining the ROI of implementing PM software isn’t as simple as plugging numbers into an equation. The tools and benefits that PM systems provide are often difficult to quantify on an individual basis.
Some project management vendors include ROI calculators on their website that help determine your return based on information about your company and typical projects.
While these can be a good reference, there are many inherent flaws with relying too heavily on their calculations. Read the Complete Article