Does Your Small Business Need to Use Project Management Software?

 

In any project whether big or small, there are four main parts that should be executed properly so that the work will be a success: Scope, Resources, Time and Money. The coordination of all these four resources is called project management.

 

Project Management Defined

 

PMI or the Project Management Institute’s definition of project management is:

“The art of directing and coordinating human and material resources throughout the life of a project by using modern management techniques to achieve predetermined objectives of scope, cost, time, quality, and participating objectives.”

 

The person who is in charge of project management is called a project manager.

 

It seems easy enough on paper, but juggling these four elements is not an easy task, and can be quite stressful especially if it’s a big project. The good news is that there is no longer a need to do all these things manually, now, with the help of technology, these tasks can be automated thru the use of a project management software.

 

Project Management Software

 

A project management platform is a software that’s utilized to systematize the project management tasks such as project scheduling, planning, resource planning, collaboration, and project change management. The software does all of these things while taking into consideration the resources available, project components and shareholders.

 

There is many project management platforms software available in the market, some are industry specific. But, almost all of the available project management software in the market is operating on the SaaS ( Software as Subscription) model.

 

Cost for this type of software also varies, SaaS PM software can cost between $2.50 per user per month to thousands of dollars. There is also PM software that operates in one-time fees which starts from $100.

 

Signs That Your Business Needs Project Management Software

 

At this point, you might be thinking that for big firms, PM software is a necessity, but it might not be applicable if you have a small business. Below are some tell-tale signs that might be useful for you to determine if your small firm is ready to try a PM software:

 

 

  • Your Company Has A Hard Time Tracking Deadlines, Status, and Budget

 

 

According to a survey, one of the first sign that makes a company invest in a PM software is their need to manage deadlines as well as the necessity for project updates so that they can determine at which stage their project is at a given point.

 

Another sign is the need to track the budget so that they can make sure everything is still operating within the agreed budget.

 

A good project management software allows project managers to have real-time views of the project, as well as being able to see if they are still on track in terms of the schedule and budget. Being able to pull up real-time reports allow project managers to make sound decisions based on real data.

 

 

  • Your Team Is Disconnected

 

 

Specialization in the corporate world is good, but in some ways, it can lead team members to believe that since they have been delegated a single task that they are not contributing to the overall success of the project. But, success can only be achieved if all team members work together.

 

The right project management software will make sure that everyone who is involved in the project has a platform where they can communicate with each other in real time. A PM software also provides a venue where team members can share documents and see the changes in projects. In this way, everyone who is involved can see the big picture.

 

 

  • You’re Just Relying on Intelligent Guesses for Decisions

 

 

If you’re constantly just relying on your gut feel when making decisions for your team, then maybe it’s time to think about investing in a project management software.

 

A good PM software allows you to pull up reports in every aspect of the project so that you know exactly what is going on at any given point. And with these real-time data, you are able to make sound decisions on any problems that need to be addressed or be able to stay on top of the game and use the information available to prevent problems before they happen.

 

Things to Consider in Investing in PM Software

 

So at this point, your interest might have been already piqued about investing in a PM for your small company. But before you go and read the web based construction project management software review for the PM of your choice, here are some of the reality that you might encounter when starting a new system in your small firm:

 

  • It takes time to find the best system that will fit your company. The whole process of doing research, picking the best software, doing budget negotiations and the implementation of a PM system might take a few months to a year for small firms.  So, be prepared to invest time and effort into this.

 

  • It will change your company’s process. A PM’s main job is to automate tasks in your company’s process, and this automation will bring about a change in your team’s dynamics. And while this type of transformation is mostly good, expect that there will be some people who will be resistant to this. So it might be a good idea to have a system in place to help your employees feel at ease with the new system.

 

  • There is a learning curve. If this is the first time that you are implementing a PM software, expect that it might take some time for your team members to learn the system. It would be a good idea to make sure that your chosen PM software provides the necessary support and training.

 

Does Your Small Firm Need a PM Software?

 

The quick answer to this question is Yes, definitely. In today’s cutthroat business climate, a good PM software will help your firm no matter how small or big thrive and stay competitive. And while it is true that migrating to new software will be chaotic at first, the benefits that it will bring your company outweighs the initial challenges in implementing it. The hardest decision is not the execution of the PM software, but it’s the decision to do so. As the famous goes, the hardest part of any journey is taking the first step.

 

Lisa
Lisa Besserman, Founder and CEO of Startup Buenos Aires, has been named as Business Insider’s “Top 100 Most Influential Women in Tech”, and the 2014 “Business Innovator of Latin America” by the Council of the Americas.
Lisa moved to Buenos Aires from New York City to create Startup Buenos Aires, the organization that represents the startup, tech and entrepreneurial community of Buenos Aires, Argentina.
Startup Buenos Aires has been one of the main catalysts for strengthening the tech ecosystem in Latin America, by bringing global startup initiatives, development projects and investment opportunities to the region.
Under Lisa’s leadership Startup Buenos Aires has been credited as “Top 3 Growing Startup Cities” by CNBC and “5 Emerging Global Tech Hubs” by Entrepreneur Magazine.

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