5 Features You Need to Have in a Project Management Software

Running a business takes a lot more than establishing an office and a team. The first step towards a successful business setup is to bring the resources together. The next and most essential part is to organize your resources and manage them.

Whether it is a small business or a multinational company, as an entrepreneur you know the pain of juggling around various strategies, projects, people, and tasks. Having a solution in the form of project management software can keep your projects, plans, and team organized in a way that is profitable, accurate and impressive.

With the advancement of technology, employing project management software programs for resource allocation, planning and strategizing, and team and time management has become essential. You can say that project management software is now among the most useful tools for companies, but how do you know which software you should choose?

With a lot of options available in the market, it is essential to know which software to choose and how. This is particularly important if you aren’t a project management professional (also known as a PMP) as it may take you longer to identify the various benefits.

In this article, we will explain to you what you should look for in a project management software.

1. Planning

The prominent challenge of managing a team is avoiding misunderstanding. It is essential to keep task delegation visible and outlined correctly. A good project management software allows proper delegation of tasks with priority settings and deadlines.

Prioritising tasks is as essential as assigning tasks. Prioritizing helps you manage stressful situations and prevents problem arising. Online project management tools like Taskworld provides users planning tools with time slot scheduling options.

It offers a team shared calendar options, planner and agile task management capabilities.

2. Cooperation

File sharing, team communication, and managing customer data are important if you want to establish an organized channel of working.

Software like Taskworld includes specific features for file sharing and developing contact lists. Every member of your team is essential to the project and have expertise in the different field. Therefore, knowledge sharing among team members is crucial to complement every task of the project. An eligible project management software should allow each member of the team to add files and opinions for quick sharing. It is even better if you can find a project management software that has inbuilt messenger app for team discussions.

Some project management software even allows you to set up a personalized team dashboard, where you can add visual metrics, graphs, charts and KPIs. This panel will also serve as an alternative to your project’s final KPI (key performance indicators) report.

3. Documentation

You may be an expert of Excel spreadsheets, but managing all your project information in Excel can be a tough job. These bulky worksheets are not only complicated to handle, but 88% of them are packed with errors.

With a comprehensive project management software, you can keep all your project information together. This means you can anytime share anything with your team via the tool. Remember that not all project management tools have a user-friendly interface.

4. Reporting

Knowing the shortcomings and drawbacks of a project is essential. Time to time, problem assessment helps in finding the right solution. To review your project time to time and obtain an overview of the progress, you must have a KPI dashboard and insights section in the project management tool.

Some project management tools also include dedicated reporting tools that gather and stores all your previously added data and produces customizable reports.

If the project management tool is really good, it can help you generate multiple KPI reports that can be used for multiple purposes like financial KPI report, shared team dashboard and performance management dashboard.

5. Resource Management and Budget

Time management is a skill, if applied correctly, it can become your most significant resource. To learn time management, you need to understand that it is not only your team’s time that you should manage. Instead, you need to manage and keep track of all other time-consuming tasks of your project.

A useful project management software will allow you to plan and schedule your resources, which means you can manage your time and other resources simultaneously.

Another important aspect for which you need to have a project management software is to calculate your expenses and give you a detailed report. Also, make sure your budget report is exportable.

We personally use Taskworld and it helps us to connect/collaborate with our team, no matter where they are. Let it be project planning or task management, it gives us what we need within a matter of clicks. It saves our time too. A perfect tool is a myth, but when you depend on software for the smooth running of your business, you deserve something close to perfect.