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How Project Management Tool Helps Sticking To Basic Project Management Principles
Organizations can consider using project management tool to facilitate to follow
these project management principles in a structured manner.
Each project is unique in some or other way.: it has its own challenges,
objectives, methodology, team composition, stakeholder, etc.
However there are few underlying principles that defines and governs
project structure, work.
Depending on how these principles are followed, project success can be
traced and evaluated.
The most emphasized element of project management: project timeline:
how and when project is delivered. Project management system enables
project planners and managers to define work breakdown structure, create
& track project schedule, define task list, task dependency, milestones, check
resource workload, automated reminder to project team members for due
tasks, showing task progress in Gantt chart and dashboard.
Well before a project planning kicks off or even before it gets started, primary
stakeholders like sponsor, project manager, project planner, customers should
highlight project objectives and goals.
1 ] Project Objectives and Goals: Deliver Business value
It is important for stakeholders to understand what we want to achieve from
this project, the objective behind doing a project could be cost reduction,
improvement in customer satisfaction, better reporting, etc
2] Time Management: Ensure Product, Service, Market Relevance
3] Cost Efficiency: Drive Profitability and Sustainability
Project cost is vital from financial perspective since every project needs to be
funded by its own organization or client.
And whoever is sponsoring project, want to see the bang for bucks, see the return
for his investment.
The ability to have enough budget for project in order to execute it despite of
risks and shocks, estimating project cost reasonably before budget is allocated,
tracking project cost on an ongoing basis to keep it within budget and importantly
drive project towards profitability (accounting earned value, tangible/intangible
4] Risk Management: Minimize Vulnerability and Tap Opportunities
Risk management is often followed as a conventional and mostly a routine exercise
without realizing that it is an important element for managing project.
Merely having a spreadsheet to represent risk register and having stale entries
in this spreadsheet represent a sorry state of project management.
Each software boasts its own set of features, but they all share common benefits
businesses can appreciate.
Project management software provides small to large businesses, who
undoubtedly juggle a number of tasks, with a solution that helps keep them
There are a wide variety of project management software packages available,
including web-based applications accessible from any location.
1] Collaborate on Projects
Employees are often assigned individual tasks that are a part of a larger project
an entire team is working to complete.
Project management software gives employees a way to collaborate on projects
by sharing documents, timelines and status updates.
2] Delegate Tasks
As a business owner, you likely weigh the knowledge, skills and abilities of
employees before delegating tasks to them.
Use project management software to easily delegate tasks to the
3] Stay on Schedule
Project management software lets project managers add a start and expected
completion date to projects and tasks they include in the system.
This information alerts employees to upcoming deadlines, allowing them to
manage their time appropriately to complete tasks before or on the listed due
4 ]Track Projects
Keep track of the progress of projects with project management software. The
software will let you know what's been completed, as well as by whom, and what still
needs to be done.
Employees can provide updates as to what they're working on and share their
updates with the project manager and team members. The software eliminates the
need for status update meetings and emails.
5] Provide a Snapshot
When training new staff members and introducing them to projects
your company works on, project management software offers a
snapshot of the project you can share to get new staff up-to-speed.
The snapshot allows you to show employees the project from start to
finish, give them background information and let them know how the
project will move forward.
Project management software enables businesses to share and collaborate with
clients and vendors in addition to employees.
Companies using project management software can provide their clients with
usernames and passwords giving them access to project files.
Clients can give feedback, make edits and review progress. CNN Money asserts that,
because businesses need to be connected to vendors and clients, project management
technology is essential.
6] Communicate with Clients and Vendors
We, the co-founders of Zilicus, were working together in R&D unit of Parametric
Technology Corporation that offers CAD, CAM, CAE software along with Product
Lifecycle Management (PLM) solution.
In this company, we worked with customers from US (Aerospace, mobile,
Technology co.), Europe & Japan (Automotive, technology co).
We realized how these organizations greatly benefit from PLM kind of solution
which significantly reduced Time-To-Market (TTM) of new products (NPD).
It was pretty clear that the factors which contributed to success/failure of product
launch for these companies have been: collaboration, right resources were provided
with right access to correct knowledge i.e.
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