Project management software

Project management software is a software used for planning, resource allocation, execution and delivery of the project. It helps the team to collaborate and keep a track of ongoing projects while keeping in mind the deadlines and cost. Project management software is an art and discipline to help plan, organise and manage different projects.

The 04 main components of Project management system are :-

• Product
• Process
• People
• Project

Great project management unites clients and teams to create a vision for a successful project and gets everyone on the same page of what’s needed to stay on track for success. When projects are managed properly, there is always a positive impact.

• Strategic Alignment- Project management is important because it ensures what is being delivered is right and will deliver the real value against the business opportunity.
• Leadership- Project management is important because it brings leadership and direction to projects.
• Clear Focus & Objectives- Project management is important because it ensures there’s a proper plan for executing on strategic goals. 
• Realistic Project planning- Project management is important because it ensures proper expectations are set around what can be delivered, by when and for how much.

Few important factors to consider when using a project management software are :-

• Tasks- You can assign tasks to different team members and separate them further into phases or subtasks. Project management software displays these tasks in different ways such as cards, posts or a timeline.
• Schedules- Schedules are essential to make sure your project meets its deadlines. You can schedule each task so that progress on your project is steady throughout its duration. You can also share schedules with your team members, so that everyone is aware of its deadlines and project contributions.
• File sharing- File sharing can help you organise your projects. Sharing files can allow you to send instructions,images and communication between client and team.

Flowace is a one stop shop for all your workforce analytics. Flowace helps you to organise your projects and save time from repetitive tasks. It creates templates for a particular type of task, set project budgets, analyse profit/loss over a project and eventually generate bills. Flowace also helps you to ;-

• Import & auto create project file smoothly.
• Assign projects, tasks and subtasks easily.
• Collaborate with the team across projects.
• PLan and track project budget and revenue assessment.

Time spent on a project can be an important factor, if employees are on an hourly compensation model (contractors, billable hours etc) or if efficiency and time management is a concern. Time tracking capacities are fairly common across the larger project management software offerings, but it’s not a universal feature.

There are different types of project management software. Some are ;-

• Open AI- This type of project management software provides their end users with the capacity to add to the already existing application. It can give you greater freedom in setting up your projects, since you can adjust components to suit your business needs.
• Cloud-based- They are project management apps that are hosted on cloud servers which means that your users and your clients can access their project wherever they may be usually through a web browser.
• Individual- They are web-based and lightweight, which means they won’t be as featured as others but will be simple and straightforward enough for any individual to understand.
• On-premise- They are solutions installed locally into your company’s servers, which means barring special circumstances access to the system is restricted to devices connected to your local servers. 

The price of project management software varies differently, there are multiple pricing structures ranging from free, entry level to premium options.

The following factors may affect the price of project management software. They are ;-

• User strenghth- Some charge on a monthly per-user basis, while others charge on subscription tier depending on number of users.
• Features- Some software offers more functionality for a lower price.
• Billing frequency- Project management providers may offer discounts and incentives for paying for a year of service rather than monthly. 

Organised project management software for your business can help you increase productivity and profitability. It also increases efficiency which means improving profitability and outcomes. The project management system helps to boost productivity by helping teams to create effective workflows and regularly notify others. A reliable and right project management software empowers their team to deliver the best –

• Plan with quality
• Document every details
• Focus on high priority tasks
• Find and eliminate distractions

Without project management software, your business could be hampered by miscommunication, redundancy and inefficiency-costing you time and money. The features provided by the project management system are designed to take a company’s workflow to the next level.