Best Project Management Software & Tools

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Who Uses Project Management Software Solutions?

Best project management tools can be used in a number of industries like:

• Engineering

• Construction

• Consultants

• Automobile

• Service providers

• Marketing

• Information technology

• Education

• Finance

• Event planning

• Telecom

A simple project management software provides features like file sharing, user dashboard, task management system, and scheduling, project plan templates, Gantt charts, time tracking, expense tracking, resource allocation, resource management system, resource scheduling, and resource sharing. The best online project management tools also include calendar sharing, file sharing, mobile app, trend analysis, and forecasting. The best project management software for small businesses should be such that it can be implemented by its users in all the four phases of project management.

The 4 Project Management Lifecycle Phases

1. The Conceptualizing phase

This is the initial phase of project management. This phase includes creating a statement of work, presenting the business case, and creating a business contract. Cloud-based project management tools should help the management conceptualize and initiate the project efficiently and correctly with no flaws.

2. The Planning phase

This is the phase immediately after conceptualization. It in this phase that the management decides on the budget checks resource availability and allocates a task to resources. The top project management software and tools must allow the precise planning of the project.

3. The Execution phase

This the phase in which the actual project work is performed. It involves a lot of strategic and implementation planning. The best project management platforms allow you to continuously monitor the performance and implementation of the project.

4. The Termination phase

This is the last and final phase of the project. This phase is usually inclusive of the disbandment of project team members, releasing of resources, checking if the objectives have been met, and the final transfer of the project to the intended users.

Disadvantages of Project Management Software

Like every good thing, project management scheduling software has its own disadvantages. Selecting and picking out one software can be expensive and also time-consuming. One has to be very careful in selecting the software as it should fit their business model and workflow.

A lot of time and money must be spent to train the employees to use the software. Employees must know how to use a simple project management software solutions to ensure that your organization gets maximum return on the investment made. It is also essential that the employees know the ins and outs of the software on which they are going to work. The project software should be able to speed up the process and not be a hindrance.

Types of Project Management Software

As project management is the core of any business organization, the best project tracking software should be implemented. There are different types of top project management software programs and one can select according to respective business needs and budget.

There are three broad areas on the basis of which PM software can be classified:

• Deployment

• Characteristics

• Specialization

A) Based on deployment

1. Desktop or On-premise Software

In this type, the software is installed on your personal desktop or laptop by paying regularly. Its license can be renewed periodically. The advantages of this kind of project planning software are that the file stays with you, you have more control over the software and usually, the payment for the software is one time and there are no recurring fees. However, the shortcomings of this type of software are, an IT specialist should be assigned to manage or troubleshoot the software including security and technical bugs. High capital is required for servers or computers, upgrades, and to hire an IT specialist. Since the software can be accessed only on your system, its mobility is compromised.

2. Cloud-Based Project Management Software

The online project management tools are hosted on a cloud or the vendor’s server. It has a monthly subscription fee and its usage can be discontinued when the project is completed. The monthly subscription for this kind of best project management tracking software is less and there is no need to employ an IT specialist at an additional cost. The files are on the cloud and with the vendor. You have no control over the software

B) Based on Characteristics

1. Personal or Single User

This kind of project planning software is used for home projects or personal projects. Only one person can work on the software at a time. It is used for small projects with a top-down approach. Small home projects or personal projects can use this software.

2. Collaborative

This kind of project management tracking software has been designed for multiple users where one can read, edit, or add to the project plan simultaneously. The additions and changes made by various users are integrated with the overall system so the project plan is also updated simultaneously. It can be used for focused or complex projects with teams or individuals working on different sub-projects of the main project. This collaborative project tracking software helps the manager, project leader and stakeholders to monitor activities happening at various stages in the project. This type of cloud based project management software solution works best on web-based infrastructure, where users in multiple locations can access the project plan from different locations and enter data in real-time.

3. Integrated

This type of best project planning software integrates other aspects of business operations such as collaboration tools and CRM. This can be used in projects that overlap with other business activity such as the customer relationship process.

C) Based on Specialization

These are often extra modules that can be added to the existing project tracking software that lacks those particular features.

1. Scheduling

This adds a scheduling feature which is similar to a Gantt chart that tracks and maintains the time of various deliverables. This kind of web based project management software for small teams is best suited for public events or projects with time constraints product launchings, concerts or any such event. The schedule is fixed and all the pre-work should be done in advance to keep up with the schedule.

2. Issue Tracking

This type of project tracking software is used in projects which continuously needs to be monitored for gaps and glitches during the progress of the project and ensure it is addressed properly. It is useful in projects that have a lot of technical specifications that any small error can lead to iterative glitches. Software development needs online PM tools to track bugs constantly and fix them while ensuring the entire system works as planned.

3. Project Portfolio

It allows the organization to handle and keep track of multiple projects simultaneously. It has a dashboard with a drop-down option that lists out all the projects and its progress. It has a robust editing and tracking feature that requires advanced infrastructure.

Cost of Project Management Software

The cost of project management software can vary depending on the features and functionality you need. However, there are some general costs you can expect to incur when purchasing this type of software. 

Generally, project management software will cost between $100 and $500 per month. This price range will give you access to basic features and functionality, such as task tracking, project tracking, and resource management.

When considering the cost of project management software, it's essential to consider the value it will bring to your organization.

You can expect to pay more if you need more advanced features, such as collaboration tools, reporting capabilities, and integration with other software applications. Prices for these advanced features can range from $500 to $1,000 per month.

This software can help you save time and money by streamlining your project management processes. It can also improve communication and collaboration among your team members.

Project Management Methodologies

In today’s scenario, we are overwhelmed by the number of project management methodologies. It is the duty of the management to identify which process suits the project’s needs best and adapt it accordingly. The number of project management methodologies at play are:

1. Waterfall Model

It is one of the oldest developed project building models in use. Many businesses adopt the Waterfall Method as it is efficient and very simple. Tasks in this model are linear and follow a top-down approach, just like a waterfall. In this system, one must complete one step completely before moving on to the next. Managers find this system very straightforward and easy-to-implement. The waterfall processes are easily understandable, therefore saving project managers valuable communication time. This model is the most prevalent methodology in today’s project management software system. The general components of the waterfall model are:

• Requirements analysis

• Concept, Design, and Planning

• Creation of a Physical Product

• Integration into Current Systems

• Validation

• Product Installation

• Ongoing Maintenance

The waterfall model is best suited for industries like manufacturing and construction. Since this follows a strictly top-down approach, no changes can be made once a step is completed.

2. Critical Path Method (CPM)

Management experts invented the CPM project management methodology to highlight tasks that teams can’t begin until other tasks are over. CPM managers make a sequence of tasks that each depend on the other. These sequences of tasks make up the project's critical path. In construction for example, once the foundation is laid and the building is raised, one can perform a series of independent tasks such as electric and plumbing. But the cleaners should wait until everyone else has finished their tasks and leave the house clean and dust-free. By determining a critical path and focusing on these crucial tasks compared to others, managers can avoid frustrating confusion and bottlenecks. They can use the best project planning software to allocate more resources to any task on a critical path that is lagging behind with possible delays. Because the resources can complete non-essential tasks at any time, the company can continue working at a normal pace, despite changes in worker allocation.

3. Critical Chain Project Management

Managers use the Critical chain project management methodology which is an extension of the critical path method to prioritize critical and important resources. Usually, in projects related to construction work, there is always a risk of dependencies among various teams but the organization has to manage the project in such a way so as to deliver the critical supplies on time.

Demand and supplies of resources will be mismanaged because of the inaccurate project management system. If a project manager wants to ensure that the critical tasks are delivered on time, the resources must be allocated in a way that situations of dependencies of task completion don’t arise and critical tasks are scheduled keeping in mind a buffer time.

4. Agile Project Management

Developed by a group of software development experts, the agile system of project management is relatively new compared to others. A new way to deliver value was created for the purpose of consumers’ interaction that featured four key aspects:

• Individual interactions must be highly valued by project managers over systems and project management software

• Project Software should work well and there should be no requirement of extensive documentation

• Teams and customers should collaborate, and not fight and dispute over contracts

• Companies must prioritize responsiveness over rigid adherence to plans

These concepts have expanded into many implementation frameworks, including:

• Scrum Project Management

• Kanban Project Management

• Extreme Programming

• Adaptive Project Framework (APF)

Though the linear Waterfall Project management strategy fits many organizations, there are certain limitations posed by it which proves to be a hindrance to the managers. By planning just at the beginning of a project, they lose out on all the knowledge and experience they gain while completing it. Instead of creating detailed specifications for end products at the beginning of the project development stage, managers who adopt the agile methodology only identify priorities. If an organization is choosing the agile approach for project management, the managers can ensure flexibility of resources allocated for each task and can maintain communication with stakeholders so as to know the changes in project requirements and that can be worked upon easily without the resources having to do the task all over again.

Software development companies prefer this light-touch management style of building a project tracking software than rapid production cycles. With the agile system, team leaders and managers can create responsive and transparent and flexible workplace cultures. They can divide the project work among team members and keep an eye on the current trends in the market apart from changing requirements to fit those trends.

Team leaders quantify each of these milestones as small, deliverable units. By working on a series of small, fast projects and tracking their progress the teams stay motivated. The best online project management software for small businesses must aid in the seamless application of agile project management.

5. Agile Project Management Scrum

A scrum in rugby terms is a group of heavy people, entangled with each other to acquire a small, whitish ball which in our case is the project. As business managers do not find this behavior desirable in software production teams, the Scrum method of project management is employed. The Scrum teams meet periodically for monthly Scrum sessions in which the project is broken down into small deliverables into 15 or 30-day chunks which are called “sprints.” By working in these small increments towards goals, teams avoid the overwhelming work which can be seen in other methodologies. By re-prioritizing their efforts periodically to meet consumer demands, they can stay flexible and motivated which increases productivity and consumer satisfaction. There is no Project manager in the system. There is only the scrum master, product owner, and team member.

6. Agile and Kanban

This methodology was originally developed by Toyota. Kanban is a Japanese term for a signal card. Many project managers use Kanban concepts along with Agile methods. Kanban method does not involve producing large products and then keeping them in the inventory in anticipation of demand. Their tasks and projects are grouped in broad categories like In Queue, In Progress and Recently completed. The Kanban idea is useful for those who work independently or in small groups.

How Could AI Revolutionize Project Management?

AI or artificial intelligence is one of the most revolutionary technological advancements in recent memory.

The scope of AI is widespread and ubiquitous. Whether it is Rethink Robotics’ Baxter robot that can perform numerous assembly-based tasks without any error and without any human interference or the delivery drone that delivers hot pizza at your doorsteps. These smart machines have the potential to command a deep-rooted impact on your lives in the near future.

Seeing the numerous benefits of AI, project management is also seeking to incorporate the power of AI to improve the quality of the work.

Although AI in project management may seem thoroughly new-fangled to naysayers, responses from early adopters have been encouraging. Using AI in project management, companies have been able to eliminate unnecessary hassles from various tasks and leverage output and efficiency for multiple tasks. It has cut down the execution time and increased their productivity manifold. AI in project management is on the rise and making its way towards many companies’ systems. The automation of business project management software and tools is one type of AI in project management that has become an integral part of any organization which seeks to operate with efficiency and profitability.

Your online project management software is one of the most crucial tools that you require to ensure the smooth functioning of all the project management related tasks. When it gets powered by AI, it becomes more relevant and useful to this technologically driven epoch. People, these days, want all-inclusive assistance at work to increase their efficiency and productivity and this is what AI does in project management. Whether it is an automatic notification system or automatic documentation, AI has a significant role to play in AI.

Here are some ways via which AI in project management is helping organizations to touch new heights in project management.

1. Regular In-service and After Service Support

The automation system of your team project management software programs keeps you updated about every single task and action that happens at the workplace. This unwavering and constant support is one of the biggest advantages offered by AI in project management that has changed the process from many aspects. The automatic push notification and SMS alerts sent by your project management scheduling software, each time there is any progress, keeps you aware of your surroundings and work atmosphere. This way, you can assure the timely completion of the project. Alongside, the future implication of AI in project management might provide you with the tracking of every compel workflow involved in every project management. Your cloud-based project management tools help you to make intelligent decisions about the project related strategies by providing you with an insight into the real-time situation.

2. Advanced Accuracy

No matter what kind of project you are handling, accuracy in the operations is what you require the most. Maintaining the data records about everything is essential to ensure that all the resources have been utilizing in the right manner. Alongside this, it is essential for future reference as well. But the task itself is daunting in nature and comes with the possibility of some errors when done manually. This could be perilous for any organization.

The AI in project management plays an important role in this area. It is because of the help of artificial intelligence in your online project management tools that all your operations, workflow strategies, and reporting can be executed without any errors. The automatic documentation feature of your simple project management software for small teams helps you to do the record-keeping easily eliminating the chances of any delay and errors. You can easily do the job scheduling and report generation without leaving any scope of errors. The accurate reporting is helpful to streamline the project process and to avoid any financial and manual setback.

3. Simplified Operations

Project management often keeps your manpower involved in various repetitive tasks. This repetitiveness not only increases the chances of error but also make the operations complex in nature. By handing over the complex tasks like tax calculation and other grunt tasks, AI in project management tools shifts your focus to a more crucial task which can be performed by human intelligence only. Instead of focusing on menial tasks, you start focusing on things like developing workflow strategies and doing right work allotment.

The toughest part of any project manager is to collect the data from the various inter-linked fields. It is said that a project manager struggles hard to do timely and right data collection and sorting. It can be simplified beyond elucidation by implementing AI in project management. Automated simple project management software solutions will allow you to gather the information anytime with its cloud-based integration. To take this advantage at another level, some project management tools come with mobile app support as well. The use of AI in project management in this role has been appreciated by all.

4. Prompt Risk Identification with the Help of AI-Driven Project Planning Software

Risks are always involved and call for intelligent and prompt identification followed by handling. It is very essential for any organization to identify the potential intermediate and far-flung risks involved in project management. Though it is very tough in a normal situation, it can pull off effortlessly using the various features of your best project management software for small teams. Some of the best online project management software come with features like field assessments, weather forecasts, shipment tracking, dispatch details, job scheduling, and so on. All these are some of the ways via which companies put AI in project management into practice. By using these features, you can actually perceive the impending risks involved in your operations and take the remedial actions beforehand.

For instance, the assignment tracking feature of your best project management software for multiple projects, keeps you updated about the shipment. Now, if your clients want details about when the shipment will reach, you can easily provide them with the right statistics about its arrival or delay. In a similar fashion, the automated updating of your inventory list allows you to know which material is in stock and which is not. With such timely information, you can easily procure the required article on time and prevent any unnecessary buying. This use of AI in project management helps you to identify various see and foresee risks involved in operations and design a remedial action plan on time.

5. Intelligent Resource Management Using Best Project Management Tools

Intelligent resource management is the key to success for every organization. However, doing this is very tedious in itself. The process of intelligent resource management can be done by using the AI-driven features of the best project management software for small businesses. The online pm tools come with integrated modules like inventory management, job scheduling, and shipment tracking which helps you to track the activities at any point in time. The right job scheduling ensures the right professional has been hired for a particular project. There are some business project management software systems that come with predictive maintenance features as well. They are useful to identify the area of service improvement.

Tracking progress of the project has simplified the process of project management. With going business, you can't rely solely on the completion of the project. You should also comprehend the need and wants of the customer and project. It can only be achieved using AI-powered project management tools. When you have all the information about your manpower, the requirements of the projects and tools, and machinery, you can easily plan a viable workflow strategy for your organization and ensure success.

Project Management Trends That are Currently Making the Headlines

Just like any other industry, project management also keeps on evolving with each passing day. There are some trends that stay in vogue as per the need of the industry while some lose significance as time passes. No matter which trend bids adieu and which ones make an entry, these trends are necessary to keep up with the pace with the industry.

Whether you are a frontline worker like the project manager of your project management team or a back-end worker like an accountant, you should be aware of the latest, ongoing project management trends. In the dearth of this updated knowledge, you might fall behind in this competitive world. We have come up with a comprehensive list of project management trends that are ruling the industry in the year 2018. Brush up your knowledge about them and make the most out of your cloud based project management tools to stay ahead of the competition.

1. The Abundant Use of Artificial Intelligence

Well, artificial intelligence is a term that is in vogue in almost every sector. No aspect of our life and work industry is untouched by its multitude of benefits. As far as project management is concerned, the industry is using it generously to improve the user interface, customer satisfaction, and systematic operations.

Do you remember the Hollywood classic 2001: A Space Odyssey? In the movie, the director projected a world where all the mundane and repetitive tasks were performed by robots and machines. This is the role of AI in project management. All the digital tools and features of your best project management tools are inspired by this philosophy only. It is useful for ensuring effective use of available resources, manage the workflow intelligently, and make predictions and project-based strategies.

Using AI and digital tools of your best project management software for small teams, you can actually improve the productivity and efficiency of your organization. Imagine a scenario where you have to prepare a sales report with lengthy data analytics for an unplanned meeting. The automatic reporting tools of your project software will help you to achieve this accurately and efficiently. Surviving in the industry would be tough without AI and digital tools and the trend is going to be in vogue for quite long unless something better and advanced surpasses it.

2. Integrating Emotional Intelligence with AI

Though AI will rule the industry, integrating emotional intelligence is as essential as integrating AI. Emotional intelligence is the ability to be aware of your surroundings, realizing the need of the hour and planning a workable strategy. The AI will perform as per your commands and to give the right commands to your team project management software and tools, you should be emotionally intelligent. You should analyze what is required and which resource should be used where. Alongside that, it is essential to comprehend the aspects of how the object should be achieved. This is only possible with great emotional intelligence.

When you are working in a team, it is very essential to realize the potential of everyone and assign the tasks as per the team members’ capability. While the AI will help you to do streamline distribution, the right recognition of their skills and expertise can be done by emotional intelligence only.

3. Wearable Tech

Wearing technology is easy, fun, and it improves your productivity as well. The trend has already marked its presence in the various consumer-based industries. A smartwatch that tracks your footsteps and calorie intake is one example of wearable technology. With the advancement of technology, it is all set to leave your desktop and smartphones. The trend is going to create a far-flung impact on the project management industry. You can easily connect a smartwatch with your web-based project management software going so far as to get the details of the well-being of your workers. It will help you to find out which worker is hale and hearty and which one requires a break from work.

Alongside this, you can get real-time tracking of the tasks by integrating wearable technology with your project management platform. The virtual timesheet generated by this wearable technology is of great help when it comes to streamlining your everyday operations.

4. The Integration of Project Management Office

Project Management Office is the ultimate integrated suite that any project management company could ever require. The PMI report, Pulse of the Profession 2017, revealed that PMO helped more than 37 project meets their projected goals as per the set deadlines and within their means only. Seeing the past success, the trend is making waves in the year 2018 as well. Organizations are looking for project management platforms that offer integrated PMO tools.

In simple words, a PMO tool of your simple project management software helps you to bridge the gap between the theoretical strategies and practical work situations. By doing this, it actually helps you to achieve your objective clearly and effortlessly.

5. Kanban Boards

This Japanese technology, which was originated to translate billboards in English, is making its way into the project management industry as well. This lean scheduling technique has become an important part of agile projects. It basically works to manage the workflow by integrating visual boards and Kanban cards. This new technology has been appreciated because of its ability to reduce multitasking and fostering a collaborative problem-solving atmosphere. The integration of this technology with the best cloud based project management software solutions helps you to control poor projects with a strong mechanism.

Use this technology where you struggle with lean, scrum, and agile project management and integrate success.

6. The Framework for Cybersecurity

A good number of online project management tools come with web-based integration and allows you to work in a cloud space. You can use the data and information from anywhere and anytime. However, the process comes with some potential cyber attacks as well. In this situation, it is very essential to safeguard your project software using a cybersecurity system. It is essential for building a holistic data governance atmosphere where all the information would be stored securely and safely.

Some Essential Project Management Stats That You Should Know

Stats are important for every field. They provide you with an insight into the relative industry and play a major role in deciding the failure and success of your workflow strategy. If you are aware of the latest trends in the industry, you would be able to mold, amend, and rectify your organizational systems accordingly. They have a significant role to play in project management as well. Having knowledge about the ongoing trend helps you to stay in competition with your competitors.

36% of US companies deploy Project Management Software due to the functionality it offers

Right from planning the project pathway to allocating resources for different tasks, project management software leads companies to effective project completion. Moreover, it makes it easier for teams to collaborate and work together. An efficient project management platform also helps you track the progress of each task; thus, making sure that you deliver projects successfully and within the said deadlines.

To help you better understand easy to use project management software and their implementation, here are some industry-specific trends that are making the waves in 2018:

1. Only 21% of organizations are using a standardized project management tool

By automating tasks like report generation, job scheduling, and resource management, organizations can actually improve their productivity. However, the best online project management system software is yet to see widespread adoption.

Source: PMI’s Pulse of the Profession 2017

2. 56.6% of manufacturers confirm that using a combination of project management methodologies is more viable than using a single one

Project management is a vast field that needs a lot of resources to achieve its objective within a set time frame. The majority of the manufactures i.e. 56.6% think that using a single project management methodology is not going to help to handle various aspects of any project management system.

Source: LiquidPlanner 2017 State of Project Management in Manufacturing Report

3. Because of the lack of clarity over the objective, 37% of organizations fail to achieve their set goals

No matter what industry you belong to you should have a clear vision of your objectives. Using the best project planning software can actually help resolve this issue.

Source- PMI’s Pulse of the Profession 2017

4. Over 34% of projects schedules are not baselined

Baselining is one of the crucial aspects of any project management system. Any non-adherence to this might lead to the failure of various workflow strategies.

Source: Wellingtone’s The State of Project Management Annual Survey 2016

5. 73% of U.S. workers think that human intelligence is unsurpassable

Meaning that AI can never be better than the human mind. Although automated could based project management software for small business will help you to create spreadsheets and reports, the commanding authority would be retained with humans.

Source: PWC’s Workforce of the future, The competing forces shaping 2030 Report

6. On average, a project manager earns a salary of $80, 854 in the US

Opting for a career in the project management field gives you an opportunity to earn a handsome salary. However, you need to possess good analytical and decision-making skills to excel in the career field. It is certainly no easy task and a good project manager deserves such a hefty salary for her crucial work.

Source: Glassdoor

7. 88% of the organization completed its project on time

Timely completion of the project is very essential to establish the integrity of your organization. You can increase your project completion ratio by implementing the mighty help of the best project management tools.

Source: PMI’s Pulse of the Profession 2017

8. A total of 85% of the organizations rely upon PMO at work

Using PMO is the easiest way to ensure timely submission of the project and intelligent resource planning. With the help of any automated business project management software, you can easily augment your efficiency and reliability. Plus, it cuts down the operating costs as well.

Source: PM Solutions Research’s The State of the Project Management Office (PMO) 2016

9. On average, 90% of the organizations completed their projects within the set budget

Budget estimation is a task that demands expertise. You have to allocate a budget to various tasks as per their complexity. Any wrong calculation might lead to a huge loss. The budget estimation feature of any web-based project management software program is a great help in this direction.

Source: PMI’s Pulse of the Profession 2017

10. A lean project management method called Kaizen has been used to improve employee well-being

Employee well-being and social satisfaction are important as they are the backbone of any project management company. If a company has manpower that is dealing with any breakdowns in this area, they won’t be able to complete projects on time.

Source: Sage Journals

11. 71% of organizations are using the agile approach toward project management

Using the Agile approach has helped various high-performing project management organizations to achieve their goals and objectives. They are much more likely to meet their mission in comparison to non-Agile users.

Source: PMI’s Pulse of the Profession 2017

12. 77% of professionals believe that customer relationship would be a high priority in the upcoming 4-5 years

Customer relations are key factors when it comes to determining the viability of any project management system or organization. Companies which allocate resources as per the need of customers are likely to build a fair image in their customer community. You can easily achieve it with the help of an agile project management tool. It will help you to recognize the needs and wants of your customers in an advanced manner and grants you the ability to provide a tailor-made solution. Henceforth, you will have good terms with your customers.

Source: PMI’s Pulse of the Profession 2017

13. 9.9% of every dollar is wasted because of the poor project performance

Project management is usually conducted over a large scale with the involvement of various resources. This situation increases the importance of effective use of resources to increase project performance. Poor project performance not only affects your budget but also hampers your market reputation. Improve your project management skills using automatic team project management software solutions.

Source: PMI’s Pulse of the Profession 2017

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