We have a smart solution for business owners/managers frequently asking themselves “How can I improve the business efficiency?”, and its name is PPM software!
Both large-and-small-sized businesses manage multiple projects and people. Offering an option that will help companies keep organized the projects’ tasks and documentation in addition to the large bodies of information in an accurate, profitable and predictive way seems to be a great idea.
What Is PPM Software?
PPM (project portfolio management) software is a powerful instrument for companies to estimate, prioritize projects, and monitor their progress.
So, why proper PPM tools are crucial to any businesses? I offer you to explore the key features of such software first, and benefits it may bring to your business second.
No matter does your business require portfolio management, scheduling, or resource planning, PPM tools may give them all.
- Overall view of planned and current projects;
- Assessment of capacity for new projects;
- Detection of resource and budget bottlenecks.
As project and portfolio management software reflects the completed projects, it helps you choose the most appropriate projects for the company’s portfolio, bring customer expectations and company facilities together.
- Central resource pool (with permissions to access resource data);
- Overall view of available and used resources;
- Easy identification of resource underload and overruns.
PPM tools help organize and optimize the workload of your project resources. The full control over the project’s resources is in your hands.
- Detailed project map with stages and deliverables;
- Clear project schedule;
- Tasks integrated into a system;
- Full control over a project.
PPM solution allows manager controlling a project step by step from the first to the last tasks. Clear project’s phases and delivery dates set using project & portfolio management software improve the level of the project’s organization and make it easy to predict the risks of time and budget overruns.
Having understood the key features PPM tools bring to your business, we may concentrate on their benefits.
How Can a Company Benefit from PPM Software?
- Significant risk reduction, leading to the failure rate minimization. Despite this, such tools can’t become the key to success themselves without a talented manager standing behind the PPM software. However, it ensures a project manager has a maximum of the resources to manage the project instead of reacting to challenges.
- Prevention of time and budget overruns makes it easy to control a project’s budget on each of the stages including planning, estimating, financing, and managing.
- Increase in team efficiency. A project’s turnaround time can be decreased using PPM software, as it makes your team strictly adhere to the schedule and allocate the resources effectively. The higher team efficiency is, the lesser time is required to complete the project, thus, your company gains one of the most important competitive advantages–speed.
- Reduction of the time for project administration. Automatic PPM features reduce the time a man should spend on manual settings/ monitoring/ control of the workflow. Numerous project and portfolio management tools include automatic reports generation and strong visualization features that reduce the time spent on project management.
- Visualization. PPM tools help a manager to visualize the data so that business runner/ owner or customer could get the information illustrated for a better understanding. This is a considerable benefit when reporting the results of a team/ company’s work.
The Bottom Line
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