Project Management

4 Reasons You MUST Have a Project Management Tool

When  a company has a project it is important for management to have some tools in place to make sure the project will stay on task and be completed on time. There are some tried and true project management tools that will keep the project moving forward by helping tract activities and team members. Project management is about moving an idea into a planned project.

A project management tool can help with not only getting the project started but keep it moving to completion. There are four main components of a project that need to be tracked and managed throughout the project life. A project management tool can be an invaluable asset when trying to maintain control over these items.

1. The first component of a project is the scope. This is what the project is and what it going to accomplish along with the budget to get this done. Often when the scope changes it might seem small. However, if you have several changes to track it becomes a little bit more difficult to keep straight. The other side is if there are changes to the scope of the project there should be changes to the budget of the project. If you are building a warehouse and there are significant changes to the plans there must be a significant change to the budget as well.  A project management tool will keep track of changes in scope and make sure that the budget is checked each time a change is made.

2. The resources of a project can be difficult to manage without the proper tools. The proper resources to get the project completed will include people, equipment and materials. All three must be managed and tracked to be sure that the project stays on budget and on schedule. Managing people could include employees and subcontractors. All of these people need to know what there are suppose to do and when it needs to be done.  Not all projects require equipment management however if your project does scheduling becomes important. If you are using company equipment for your project you may need to schedule it so it is free from other company work at that time. If you are renting equipment it will be necessary to make sure that the equipment arrives on time, at the location you need with a proper operator. Purchasing material for your project can take time and effort to align the factors of price, quality and delivery for your project. For even small projects a management tool can be a huge asset in dealing with the resources necessary to complete the project. A project management tool will let you track personnel time as well as expenses against budgeted costs.

3. Time is the next critical thing to the project. Time must be managed for every aspect of the project so that every part can intersect at the correct time and the entire project can finish on time.  Each part of the project must have tasks assigned with a time that it needs to be completed so that the project can continue moving forward. Scheduling all the tasks that need to be done is essential to getting a feel for the time frame necessary for the project. A project management tool will assist you in making sure that all the tasks are scheduled and in the correct order. When a task is not completed on time it will throw the other scheduled tasks off. When you are using a management tool it will compensate and help you adjust the other tasks along with giving a more accurate finish date.

4. Managing the budget is often what the manager of a project may be measured on. Completing the project within the budget is the goal of every project manager. This is certainly doable if you have managed the resources and the time on the project. This takes a lot of attention and time to be sure that you have everything under control to avoid cost overruns on the budget. An effective project management tool is made to help you do that. By tracking the expenses by each category you will be able to see if the project is heading over budget and address the issue before the budget is completed.

Project managing can be a rewarding experience if you have the proper tools to get the job done. A project management tool can be used to help track and control all other above items as well as let you know where you are on the project at all times. Keeping everyone in the loop gets easier and knowing where problems may crop up is a heads up to take care of small problems before they become big problems.