What is Project Management Software and what benefits does it bring to companies

What is Project Management Software and what benefits does it bring to companies

Project Management software a series of theoretical and practical perspectives that are applied to administer, design, and guide efforts within a corporate, civil, technological, and any other project from beginning to end.

These methods are suitable for any project, whether small or very complex. On the other hand, they can be implemented in the processes of any department, from Marketing to Sales.

On this occasion, we will teach you not only what Project Management software really is, but its stages, methodologies, advantages of applying it, and the most popular tools that exist to execute it.

Do not turn away!

What is project management?

This methodical approach is based on the estimation, administration, and fulfillment of the specific, measurable, attainable, and realistic objectives for performing tasks within an organization.

Its objectives are clear:

  • manage the startup and evolution of projects;
  • manage and solve problems that may arise during the process;
  • and facilitate project completion and approval tasks.

What are the stages of project management?

According to the PMI (Project Management softwareInstitute), which is an organization on project management, and its Guide of the Project Management software body of Knowledge ( PMBOk ), there are 5 phases in project management:

1. Feasibility study

It is the first stage that is executed in the realization of projects and aims to determine if the company would obtain economic and strategic benefits with the realization of it.

Through a management software, a project record is created, an analysis of the scope, methodologies, and departments involved is carried out, to determine the potential risks and apply the feasibility study on the desired times to know the total cost and quality.

If the numbers are positive, then it goes to the second stage.

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2. Work planning

In this phase, all the planned tasks and the resources necessary for the completion of the project are detailed.

Great care! If this stage is not clearly detailed, negative results can be produced for the organization.

To avoid problems, it is necessary:

  • review the analysis of the scope of the project;
  • make estimates of effort, cost, and resources;
  • define a project plan;
  • and finally, write a document about the terms of the agreement.

3. Execution

It is perhaps the most important phase. Since it materializes all the ideas, planning, and designs, using the techniques, resources, and processes provided above.

It manages work environments, tasks, resource delivery, and change requests.

4. Follow up

During this phase, the analyst must verify that all parties involved are complying with:

  • the work;
  • the planning;
  • and to manage and guarantee the quality of the project.

When verifying, follow-ups are carried out in the areas involved with quality control and incident recording. Reports are generated with the default indicators to be shown to the superiors.

5. Close

At the end of the project, it must be evaluated and verified that the expectations have been met and that everything is as established during the planning.

However, it is necessary to apply a failure analysis of the project to document the drawbacks and help that more accurate decisions can be made in the future.

During this stage, a checklist is made, and the formal closure is executed in all areas, the data is backed up. And an analysis of the results is performed to contrast them with the initial estimates.

What methodologies exist in project management?

Depending on the type of project or its needs, different methodologies can be used to achieve the optimization of time, resources, among others. The most used are:

Traditional sequential

They are the projects that are executed stage by stage. That is, one phase must be completed, begin with, the next.

The advantage is evident. It allows managing in a simple way the progress in each stage and of each person in charge. However, it causes projects to be restarted by having to return to the beginning in case of any failure.

Agile

It has the particularity of “splitting” the tasks into pieces and establishing a specific time to complete it. The objective is that projects that meet very high-quality standards can be carried out, and planning priorities are respected.

It also contributes to the acceleration of activities, increased productivity, and a greater commitment of the parties.

Change management

This methodology allows focusing on the management of change within the project. With a special focus on risk planning and taking advantage of change when it occurs.

In them, it is possible to determine the possible risks outside the scope of the project and offer massive change management techniques to move towards the completion of the project.

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