What to Look For in a Project Management Tool

Every project has its uniqueness, and the project manager is trained and given a role of managing something they may not even have the grip on, but what comes to their rescue is the project management tool that’s in place. Advancement in technology has made it easy for project managers to do their work and achieve significant milestones. They can know how their teams are doing and even see the level of accomplishment for each segment.

But not every management software is excellent for your project.

This article helps you to understand the things you need to look for in a software for Project Management for Accountants or any other business.

Make sure it’s available online

Every software continues to be upgraded and when you are getting one, make sure it’s available online. That means you can access it just by paying for it, and then it’s unlocked. That way, you won’t need the technician to come to your location and do the installation. You also need to look for one that is designed as software as a service (SaaS). This will spare you from installation issues, those hefty licensing fees, and the pain of the upgrades that disrupt work. Again, you’ll be able to work from any computer at any time.

The software flexibility

Before you pay for the product, make sure it can bend to a waterfall or agile methodology. Though most managers perceive waterfall as an old-fashioned way of doing things, you’d better not allow yourself to be locked to any workflow. Make sure it is flexible to accommodate any project manipulations.

Time Tracking feature

A project management tool with a time tracking feature can help seamlessly document the number of hours your employees spend on tasks. It allows you to ensure giving the proper compensation to your employees and billable hours to your clients to gain their trust and confidence in your business. 

Aside from knowing how long team members take to finish tasks, a project management tool with a time tracking feature is crucial in employee overhead cost calculation. Calculating overhead costs is critical in project management and resource planning. For instance, employee overhead cost calculation involves identifying all ongoing employee expenses, such as salary, health insurance, taxes, etc. Therefore, this feature enables project managers to count how much their projects cost and what margin they should implement to maintain their profitability.

Scalability

Your agency may be a small one with some three or four clients. But after a rise in popularity, are you sure the software can still handle things? You better have a highly scalable product than one that can’t grow with you.

How much output do you expect?

When looking for project software, you need one that has several reporting options. Once you put in information, you expect the software to tabulate and give you results in different forms. That helps you to plan and improve on your existing systems. How else would you know that you need to add more employees or even know the team’s hours in a project?

Have control of the system

There are systems you get in place, and you need the developer always to bail you out-that are a bad one. Every project manager desires to have control. Get a product that allows you or the project manager to have control. The employees should also control the internal and external communication files, records, and work schedules. The more the control, the less they need to panic or fear the unknown.

Project management tools – such as an online calendar planner or resource allocation tool – come in to help simplify the manager’s work. However, the software you choose should be by reputable companies like HGI Software to provide more solutions and help overcome some bottlenecks. Most importantly, you need a system that you have complete control over. That way, you can determine the heights you want to scale in terms of productivity and success.

Conclusion

You’ve learned the vital things to consider when choosing a project management tool. Investing in a comprehensive project management tool can help gain better control of your project planning and management to optimize your planning meetings, reduce time by keeping reports up to date, and improve budget spend management.

Continue to boost your knowledge and skills in modern-day project management. It’s a must to ensure the budget aligns with the project’s scope, goals, and related activities. If you’re unsure how to proceed with project management, experts can help.