Project management software constantly evolves with the emerging technologies and approaches to planning, budgeting, resourcing, data mining, time tracking and delivering projects. For example, look at how organizations have ceased choosing either agile or Waterfall project management methodologies and instead take the best of both worlds for a hybrid approach, a development that not many would have foreseen just a few years ago. Actual business needs demanded that project managers take a different route, and the results of extensive project management software research among developers yielded what we see now being implemented by project management practitioners.
These are just a few examples. Here we present the most pressing project management software trends to keep you abreast of industry best practices without having to expend your own precious time and resources. Take a look at how the industry and the practice have been shaping up these past few years and into the next few ones with this collation of project management software data and statistics.
Looking at the state of the project management software industry, what would strike most analysts is how it has taken off slowly relative to other business tools. This, despite the proven efficacy of these applications in solving project management problems when implemented the right way. While many project managers in the past were justified to see project management tools as way too complicated with steep learning curves, recent strides have largely addressed this, with most project management software dashboards now getting as intuitive and easier to use as other software categories. The figures below suggest how you could put project management software to good use in your own business.
Most projects live and die at the design and planning stage. Just the inability to make the most of project management big data could have you start with the wrong sourcing partners, undermining the success of your project early on. You could be using one methodology in one department, while the other departments use their own. These information silos will cost your business in the short and long run unless you begin to gather your teams and work your way to a standard methodology throughout the organization. A choice of dedicated software can also go a long way in this direction. There are project management solutions for developers and project management apps for small business, so get one that is designed for your case scenario.
Change in organization's priorities%
Change in project objectives%
Inaccurate requirements gathering%
Inadequate vision or goal for the project%
Poorly defined opportunities and risks%
Inaccurate cost estimates%
Inadequate sponsor support%
Inaccurate time estimate%
Source: PMIDesigned by
One of the most prominent project failures, that of KMart’s colossal USD 1.2 billion IT modernization project, is a stark reminder for every business to keep a tight watch and control of project budgets. Take heed of how the best project management performers do it, something that you could also do with the help of the leading budget management tools out there.
Key factors to the best performing projects include well-trained professionals, the widespread adoption of PMOs, and doing your homework over project risk management. If your business finds it hard to implement effective training courses for your project managers, consider getting the help of outside professionals. If doing it in-house appeals more to you, consider investing in the most capable learning management systems instead.
Projects that met original goals%
Project completed within budget%
Project completed on time%
Project experiencing scope creep%
Projects deemed failures%
Source: PMIDesigned by
If project reworks, out-of-sync project teams and executives, and haphazard business objectives are taking their toll on your business projects, it’s time to rethink and overhaul your overall implementation of project management across your organization. Perhaps your project managers and executives hold conflicting KPIs from the start, or not using the right time-tracking software to manage how workers handle their time and individual tasks.
The future belongs to AI, machine learning and the Internet of Things. If you are not watching the latest project management statistics and trends, then don’t be surprised to see a startup or an old competition jumps ahead of your business in the pecking order of customers. Artificial intelligence in encroaching on every facet of businesses, and there are no signs that it will stop soon. Businesses are accumulating big data left and right, and only the best artificial intelligence software could make any sense of them, for example.
Any available software tools
Enterprise Project Management software
Resource Management software
Source: Wellingtone.co.ukDesigned by
With your own business to mind and projects to attend to, use these pieces of critical project management software statistics to polish your project processes or, if you have been seeing drastic results from them, to commit sweeping changes completely. Project teams that use their own methodologies and go about with their own objectives hurt your ROI, and if your resources are limited, you might as well say goodbye to your business soon.
Knowing how to make project management software more efficient and getting it used by your key personnel should help you arrest some of the negative practices of your workers in the past. Many project management tools are specially designed to work with distributed groups, making it easy to share information and collaborate on tasks. You can even replace email communication with project management software to keep everyone in the loop. Moreover, many vendors allow you to test-drive their platform so you know whether it agrees with your own working patterns. Once you have decided on a specific solution, you can follow these 10 steps on how to successfully implement project management software.
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