Construction Industry Stats Every Construction Manager Should Know

Construction Industry Stats Every Construction Manager Should Know

 

The global construction sector suffered a lot due to COVID-19. The epidemic affected construction managers, specialty trade contractors, laborers, and construction professionals. You probably have to shut down your projects if you’re a construction manager or general contractor. According to global construction industry statistics, construction employment fell by 256,000 jobs in January 2021 compared to February 2020. 

But that doesn’t imply you should lose sleep over the construction industry’s prospects. Instead, what matters is that you apply what you’ve learned from this pandemic to construct your strategy to better deal with a similar disaster in the future. This article covers statistics of the construction industry to help you in doing so. 

Understanding the issues your colleagues have faced since the pandemic and their current objectives is the first step in developing a plan. Since the pandemic outbreak, we asked respondents about their software, labor, and supply chain experiences. 

Based on our survey findings, we’ve compiled four new construction statistics that describe COVID-related difficulties in the construction sector, the initiatives construction firms made, and their short-term priorities. 

Construction Industry Statistics

Companies Are Increasingly Utilizing Construction-specific Software Tools 

The construction industry has always been slow to accept new technologies. As a result, according to studies, construction trades have expanded slowly due to labor shortages, high prices, and reluctance to adopt the technology. 

The COVID-19 issue, on the other hand, compelled construction companies to embrace digital change. The COVID-induced labor shortfall had to be compensated for by allowing employees to work remotely, which was made possible by digital technology. In addition, building information modeling (BIM), construction estimating, construction management, construction takeoff solutions, and other on-demand, affordable construction software products enabled businesses to cooperate and continue working online. 

Worker Safety Is Growing More Expensive and Complicated 

Most industries’ safety rules changed in 2020, but construction experienced significant changes—from the Welding and Cutting Standard to the Occupational Safety and Health Administration’s safety best practices (OSHA). 

To avoid legal issues, you must understand the distinction between mandated requirements and generic best practices. The first is a legal duty, while the second is counsel. It’s critical to understand the differences to pick the ideal workplace safety policies. 

Delays in Obtaining Raw Supplies Will Result in Lower Revenue 

Due to COVID-19, it became hard for construction companies to obtain materials. The leading cause is the nationwide lockdown, which has hampered goods transit and labor availability. As a result, projects have been delayed or halted entirely, causing numerous construction companies to lose money. 

You can’t afford to halt your project due to supply chain concerns. You’ll need to handle your construction materials effectively. This includes preparing for accidents, thefts, and natural disasters. 

The Necessity to Become More Competitive Is Urgent 

Because of the pandemic, most construction efforts, whether residential or commercial, were halted, making construction work scarce. Finding construction jobs will grow increasingly complex as spending declines. Businesses have understood that they must outperform their competitors to win new projects. 

Moreover, strong bids are required to beat your competition. Bidding early, conducting extensive customer research, enhancing client communication, and focusing on your value proposition are all techniques that can help you create winning bid proposals. You’ll also need to provide a detailed, realistic project estimate that considers your needs and your current skills. 

Bottom Line

You can boost your chances of winning more bids by using construction estimating software. The software will assist you in creating competitive cost estimates with features such as a bid proposal generator, built-in calculators, and cost database connectivity. 

5 Signs that Your Business Needs Construction Management Software

5 Signs that Your Business Needs Construction Management Software

 

Every contractor in the construction field understands that as the globe becomes more complex, so do their projects. The construction industry has jumped headfirst into the future over the last decade. As a result, it is developing at a breakneck pace, from new equipment and materials to automated buildings and digital plans.  

Unfortunately, many contractors are failing to keep up. If you’re a contractor who has just found yourself in over your head, you should consider investing in cutting-edge construction management tools. Many construction companies are increasingly adopting construction management tools to increase the productivity of their jobs, allowing them to hire more people and improve their salaries. 

Here are five signs that you need a construction project management system. 

Communication Gaps

When it comes to your construction projects, you’ll need effective team collaboration and open lines of communication with both clients and suppliers. Poor communication on the job site can significantly impair project profitability. In addition, it frequently leads to rework, delays, and the deterioration of relationships among team members, subcontractors, and owners. 

Construction software with built-in project management skills helps eliminate inefficiencies like bad project scheduling, leading to overbooked staff. It also allows you to save and organize key project documents, which aids in the timely and cost-effective completion of projects. 

You face the danger of forgetting or omitting critical data when communicating by email or phone. Because construction project management system centralizes all project-related communication, such errors are less likely to occur. It offers real-time updates to your employees and clients on project progress. You also have access to team calendars and a single dashboard to track the progress of all your projects and make sure everyone is on the same page at all times. 

Budget Issues

Your primary priority as a project manager will always be financial management. With raw material prices shifting frequently, it’s vital not to blow the project’s budget halfway through construction. Cost monitoring tools are included in the construction project management system, allowing you to keep track of your spending. Additionally, it allows for a real-time budget review.  

You may review your budget status every day and make cost modifications as needed. As a result, cost containment can be more effective. Furthermore, the software can generate a payment reminder scheduled for creditors and debtors who have outstanding payments. It can also make estimates depending on the information provided. This removes any potential cost calculation problems. 

Project Inefficiencies

Missing project deadlines is quite inconvenient. It results in irritated customers and can harm a company’s reputation. It can also result in legal ramifications and public disgrace. Project managers who have previously missed deadlines are penalized heavily. In addition, multiple teams incur inefficiencies when one team’s production drops.  

Construction workflow management software offers a variety of methods to address this issue. For starters, it gives on-demand information. You can recognize on-site conflicts or bottlenecks immediately. You can also make a work timetable to keep everything on track. When the work schedule is not adhered to, the responsible teams can be recognized, and quick action is taken. 

Increased Deskwork

There will always be desk work when running a construction company. But, do you work from home on weekends and evenings? During the workday, you might even rummage through heaps of documents seeking a lost invoice or another crucial project document. If you want to spend more time on more profitable jobs and reclaim your weekends, it might be time to deploy construction project scheduling software. 

Modern construction management software includes: 

  • Cloud storage. 
  • Ability to view all of your documents and drawings. 
  • Contracts. 
  • Other files from any location and on any device. 

If you need to modify something, you can log in from anywhere and make essential changes immediately. 

RFI Delays

Requests for Information (RFIs) can help your project run smoothly and on time, but they can take weeks, if not months, to process, causing costly delays and cost overruns. In addition, many older systems are also unprepared to deal with the issues that RFIs can cause. By incorporating modern construction project scheduling software into your company, you’ll be able to keep track of all of your RFIs. You can also save them in an easy-to-use database, and allow you and others to view, respond to, and access RFIs via email. 

Bottom Line

Construction workflow management software allows you to focus on more productive duties while saving time. You can use construction management tools to digitize all project-related information, increase collaboration and keep the team informed. You can also efficiently manage extensive data archives, maintain smooth communication, and automate your accounting and estimates. 

Why Do You Need Construction Estimation Software?

Why Do You Need Construction Estimation Software?

 

In the construction industry, the client understands that an estimate isn’t the ultimate amount; it’s a roundabout figure. However, if your estimate is considerably off the mark, the client’s project budget, and your credibility as a contractor will be thrown out of the window. 

Many factors can cause an estimate to be inaccurate, including incorrect pricing data, faulty schedules, and human error. If you’re having any of these problems and are concerned that your estimates aren’t correct, it’s time to look into estimation software for construction. 

The top software for construction estimating streamline and simplify cost estimates for construction projects. Stay tuned as we delve into the software features and functionality that help create accurate estimates and the winning of more bids. We’ll show you how construction estimating software may help your business and your project succeed. 

Automated Cost Estimating

Manually factoring a cost estimate, whether by hand or with an Excel spreadsheet, is wasteful and leads to more calculation errors. You’ll have to spend hours analyzing statistics and double-checking figures to make sure the rates, taxes, and other factors are correct. As a result, the process of preparing estimates and submitting them to potential clients will be delayed. 

However, with construction estimating programs, you won’t have to worry about complicated codes or formulae because the software will handle all of the calculations. You can rapidly calculate the cost of goods and labor while making adjustments to ensure you have enough overhead to profit from the project. 

Pre-built Templates

Prebuilt templates are available in estimating software to assist you in creating professional estimation of construction projects. The page structure is already set; all you have to do now is fill in the client information. You can also modify the background color and image, as well as add your corporate logo. 

Updated Cost Databases

When putting out a construction estimating plan, the last thing you want to do is assume that material costs remain the same as they were on your prior project or even a week ago. 

You gain access to an online tool with construction cost estimation software that searches cost databases for current material costs.  

The cost database feature displays the most up-to-date construction supply prices in the area you’re serving. As a result, you can be confident that the quote you provide will accurately reflect current market pricing. You can also use the project estimating software to develop your own cost database of frequently used items. You’ll have quick access to the prices of the goods you use most frequently this way. 

Bottom Line

At the end of the day, winning bids is what keeps you in business as a general contractor, and that starts with giving your clients a consistent and professional experience from the initial phone call through the completion of the project. Moreover, estimating is the most vulnerable aspect of every building project. 

The entire cost estimate process is made easier using software. You’ll be able to send out quotations more quickly, have access to the most up-to-date material pricing, and have the assurance that your quote looks professional and represents your business well. 

Best Construction Software for Business Growth in 2022

Best Construction Software for Business Growth in 2022

 

We all look forward to the construction industry growing and re-establishing post pandemic. To maintain the current growth rate, it is critical to consider using software for business growth strategies. The construction software helps to coordinate operations for contractors and builders, such as collaborative workflow and data access across teams, to successfully complete projects. 

With hundreds of alternatives available, determining which is best for your construction company can be tough. Our list of the best construction software for growth business can be of assistance. 

Construction Software for Business Growth

AroFlo

AroFlo is a cloud-based job management software for trade and field service organizations that assists in the automation of business activities such as scheduling, timesheets, job costing, invoicing, and GPS monitoring. The AroFlo pricing starts at $150 AUD for 3 users per month. 

Fergus

Fergus is a field service management system for small to medium-sized organizations that is available on the cloud. It assists users with job progress and cost tracking, estimating, scheduling, quoting, contact management, and other tasks. 

Jobber

Jobber is a cloud-based field service scheduling software for business growth plans. It assists customers in managing their field workers, scheduling, dispatching, invoicing, follow-ups, and providing customer assistance, among other things. Jobber offers different pricing tiers. The basic one starts at $39 per month per user.  

BuilderTREND

BuilderTREND is a cloud-based construction management software that assists in the management of various project processes such as bid requests, estimates, proposals, email marketing, leads, and customer relationship management. You can use BuilderTREND and its robust features to scale up business. 

FieldPulse

FieldPulse is a field service program that is cloud-based and targeted for small organizations. It assists users with scheduling, dispatching, client administration, estimates, invoicing, and payments, among other things. The Standard Plan costs $89 per month with $30 for each additional user.  

Foundation

FOUNDATION is contractor-specific cloud-based construction accounting software. It includes capabilities such as scheduling, dispatching, document imaging and routing, and more for task costing, project management, and accounting.

mHelpDesk

mHelpDesk is field service management software that assists in the automation of customer management, inventory management, scheduling, communication, invoicing, quoting, and reporting. 

ServiceTitan

ServiceTitan is a service management system for residential and commercial field organizations that aids in the automation of construction-related processes such as dispatching, scheduling, timesheets, reporting, and job costing. 

Bottom Line

Managing all of the operational problems when working on a construction project might be intimidating at times. Using construction management software to plan, coordinate, execute, and estimate projects makes the process easier to manage and more efficient in all of these cases. We hope this blog helps you choose the best business growth software for construction. 

Construction Software Pricing Model – A Complete Guide

Construction Software Pricing Model - A Complete Guide

 

Are you looking for software for construction management but not sure how much you should pay? Unfortunately, there is no answer. Even free or open-source construction software may contain hidden costs that throw your original budget into disarray. 

Keeping this in mind, we’ve compiled this comprehensive guide to assist you in comparing the pricing of top-rated construction solutions. 

Construction Software Pricing

The cost of construction software is determined by the type of products required and the amount of construction done. Therefore, the more projects you run via the platform, the more value you get from the program regarding cost reductions, efficiency, and productivity increases. 

Construction management systems typically use a subscription-based pricing model that does not necessitate the purchase of a license. Instead, consumers pay the software vendor on a monthly or annual basis. 

Construction management software costs as little as $44 per contractor per month and can cost as much as $2,850 per contractor per month. Businesses can expect to pay between $299 to $9,900 per month for additional contractors and advanced functionality. 

Based on the number of contractors, we may categorize the various pricing plans as basic, premium, and advanced. As the basic plan only covers a few fundamental elements of the software, the price for these three pricing ranges increases from low to high. In contrast, premium plans cover advanced features in addition to basic features. Furthermore, the advanced plan is the most expensive of the three due to more advanced capabilities that enable large teams or organizations. 

Construction Software - Upfront and Recurring Costs

You pay a one-time charge to own and utilize the construction software forever. 

Upfront Costs 

  • One-time license charges. 
  • Computer hardware (e.g., servers) 

Recurring Costs 

  • Maintenance 
  • Premium support services (e.g., expanded phone support hours) 

Hidden Costs 

  • Integration  
  • Customization 
  • Staff overtime.  

Subscription License 

You pay a monthly subscription to utilize the construction software for a set time period. 

Upfront Costs 

  • Setup 

Recurring Costs 

  • Monthly subscription charges 
  • Premium support services  

Hidden Costs 

  • Integration 
  • Customization 

Free and Open-Source License 

There are no fees to use the construction program, and you are free to use, edit, and share it. 

Upfront Costs 

  • Setup 

Recurring Costs 

  • None 

Hidden Costs 

  • Integration 
  • Customization 

Additional Expenses

Once you’re familiar with the various price structures, consider additional fees when deploying new construction software. These extra costs are universal, independent of your selected vendor’s pricing scheme; therefore, make sure you budget for the following: 

Data Migration

This process exports your clients’ data from your old software as files that you can import into the new system. Buyers are frequently surprised by this cost. 

Training

Depending on how extensive the staff training for the new system is, it can range from free to several thousand dollars. Vendors now offer various free online training materials, such as webinars and how-to videos, that can assist reducing those extra costs. However, it may be essential to hire an installation specialist to get your personnel up to speed as soon as possible to avoid costly downtime. This is usually more expensive. 

Maintenance and Upgrades

It is critical to understand the vendor’s maintenance and support services and whether they are included in your software subscription or licensing fees. On the other side, you may already have maintenance and support personnel on your team. It’s critical to understand what support your software vendor provides if your team is unable to provide maintenance for the tool, which could directly impact the ROI that your product was designed to produce. 

Hardware

Is it necessary to make any new purchases or change your existing infrastructure to implement the software? For example, individual employee gear, such as computers or mobile devices, may need an upgrade regularly. 

Bottom Line

Before you begin considering vendors for construction software models, it’s critical to consider the above-mentioned often-overlooked expenditures. In this manner, you may include them in your budget from the beginning. 

Top Project Management Software for Finance Industry

Top Project Management Software for Finance Industry

 

 As a finance project manager, you understand the importance of keeping track of tasks, your company’s cash flow, and sticking to project budgets and deadlines. Whether you’re calculating an estimate or looking for ways to save money, you need to cover all of your bases to avoid tasks falling through the cracks and causing bottlenecks that slow down progress. 

By automating project tasks, monitoring the project timeline and budget, tracking milestones for each phase, and reporting the financial status of projects across departments or campaigns, financial project management software can make your job easier.

Top 5 Financial Project Management Software

Aha!

Aha software is project management for finance professionals that helps them define strategy, document ideas, and collaborate more effectively. They can also organize feedback, budget projects, and prioritize requests. 

You can use Aha! to create project schedules and financial reports based on project data, task assignments, and task reminder automation. For example, using the scorecard feature, you can rank project initiatives based on how they will increase sales, help retain customers, contribute to marketing, and impact operational efficiency. You’ll also need to specify how much effort each task will require. After that, the software calculates and assigns a score to each task to assist you in prioritizing your efforts. 

Clickup

ClickUp software is a web-based project management financial services tool that makes task management and collaboration easier. It includes, among other things, reminders, goal setting, scheduling, and an inbox. It’s completely customizable, and any team that needs to plan, organize, and collaborate on projects can use it. 

The tool’s recurring task feature aids in the management of multiple projects’ finances. For example, when you pay a monthly bill and mark it as complete, the platform automatically creates a new task for the following month. This makes it simple for your bookkeepers and accountants to keep track of invoices and prepare for audits. 

Evernote Business

Evernote Business platform offers project financial management tools and aids in simplifying workflows and project collaboration. In addition, it provides a centralized repository for project documents and data, making it simple to search for and locate your required data. 

As a cloud-based platform, Evernote Business allows your finance teams to collaborate and access information from any location, whether they’re in the same office or working from home. Its “spaces” feature allows them to connect, share updates, and pin notes in one convenient location. 

A library of templates is also available, including project timelines and deliverable templates. Your finance team can use these templates to create project budgets, trackers, and plans. 

MeisterTask

MeisterTask is a task management tool with a user-friendly interface. You can customize its Kanban-style project boards to fit the various workflows that your finance team is working on. For example, Kanban boards can help your team stay on top of budgeting, accounting, and resource management projects. 

The tool’s project timeline feature, which works similarly to a Gantt chart software, allows you to see how project tasks and dependencies are progressing. It highlights incompatible tasks or overlaps, and it has a drag-and-drop interface for changing the start and end dates. From the timeline, you can also assign tasks to team members. 

Todoist

Todoist is a task management platform with a focus on project management. It allows you to make to-do lists, add tasks and subtasks, schedule tasks, assign task priority levels, and much more. 

You can use the software to track progress, delegate tasks, set due dates and set up automatic task reminders for any budgeting project. In addition, project team members can add comments, upload files (including voice notes), and access a task calendar to manage their schedules better. 

The software allows you to customize your task view based on the due date, priority, campaign, and other factors. In addition, its productivity visualization feature lets you keep track of each team member’s contribution. Individuals and teams can both use Todoist. 

Read More: Top Project Management Software Dashboards, Compared

Bottom Line

The ability to automate recurring tasks like billing and invoicing, connect with teams from different departments, and keep financial documents and information centralized while managing projects appeal to finance leaders. This is why they are looking for finance software with all the required features. You can schedule a demo or read user reviews to make a knowledgeable decision.

Top Project Management Software Dashboards Compared

Top Project Management Software Dashboards Compared

 

Dashboards for project management (PM) provide you and your stakeholders with a quick overview of team progress. These dashboards take data about project performance and milestone achievements and display it in an easy-to-read format so you can figure out what to do next. PM tools often include reporting and project tracking features, such as visual reports or dashboards that allow managers to see project status, costs, and other key information at a glance. 

Choosing top project management software can be complicated; different tools provide different features, and pricing varies greatly from one vendor to the next. Let’s look at five of the best project management dashboards based on ease of use and customer satisfaction. 

WorkOtter

You can use a widget format in WorkOtter to customize the layout of each dashboard. For example, the most critical project information and data points should be at the top, while the details should be at the bottom. You can also send stakeholders recurring automatic dashboard report emails. This may reduce or eliminate the need for weekly meetings with high-level stakeholders, which can be time-consuming.  

Finally, you can customize dashboards based on user roles. WorkOtter can send everyone the same real-time data via custom dashboards that show relevant insights without jeopardizing data integrity because different stakeholders prioritize different information. 

Cost 

The Team edition costs $20 per month per user (the base edition does not include dashboards). 

Claritask

You can see task comments from contributors in the same dashboard as the main project and subtasks with Claritask. When team members require additional context or information, this facilitates better project communication. You can also keep track of time spent on projects by clicking the “play” button on each task.  

Cost 

The software costs $35 for the first seven employees. 

Read More: Project Management 101: Everything You Need to Know

Nifty

Because Nifty is so good at client management, it could be a strong contender for agencies. It also has a portfolio feature that allows you to create a collection of projects from which you can group clients. 

The home screen of your project management dashboard provides a window into every aspect of your project, allowing you to get a high-level status overview in a single glance. In addition, you can control and customize modules with drag-and-drop widgets to create a unique dashboard that meets your specific needs. 

You can also use the discussions tab to send documents to multiple collaborators for brainstorming or working sessions.  

Cost 

Nifty costs $49 per month. However, there are discounts available on annual subscriptions.  

GanttPRO

You can switch between the Gantt chart and the board view on the dashboard. You can also share project plans with others using a “secret public link” to keep stakeholders informed about project progress without requiring a login. 

You don’t have to start from scratch when creating a new project with GanttPRO because it has a template option. Furthermore, the dashboard allows you to access task settings directly from the grid rather than navigate multiple levels. You can, for example, change the priority of a task or its progress without leaving your workspace, and the Gantt chart grid will update the timeline accordingly. 

You can also export your Gantt chart to PDF, XLSX, or PNG formats. In other words, instead of creating a Gantt chart by hand in Microsoft Excel or Google Sheets, you can quickly create a professional project visualization to share with clients or other teams. 

Cost 

The monthly charges are $6.50 per user for up to 40 users.  

Workzone

The Workzone dashboard includes a Gantt chart view to see a project’s timeline and dependencies quickly. You can also access personal to-do lists based on your tasks, including a prioritized view of what you need to accomplish. Members of the team can quickly scan their deadlines to organize their workday better. 

Workzone’s project dashboard is an excellent tool for project managers and executives who want a high-level overview with the ability to drill down into individual projects to look into delays or overdue items as needed. 

Cost 

The Team subscription costs $24 per month per user. Volume discounts are available, and all subscriptions are billed annually. 

Bottom Line

Each project management dashboard has its own set of advantages and disadvantages. So rather than looking at all of a tool’s features, make sure you understand your company’s pain points and any issues with your current dashboard. Then, as you’re researching platforms, look at how the new platform’s features address your particular problems. 

Why You Need an Agile Project Manager?

Why You Need an Agile Project Manager?

 

Small businesses are increasingly employing Agile tools and processes these days. However, as more small and midsize businesses (SMBs) adopt Agile for project managers, questions about how to do Agile correctly will inevitably arise. 

One of the most frequently asked questions is whether traditional roles, such as project managers, are required in Agile Project Management Software frameworks. After all, isn’t the Scrum master in charge of project management? Moreover, is it essential to have a project manager when Agile already has product owners and product managers? 

This blog will look at some of the issues surrounding Agile project management’s changing role. But, first, we’ll go over the key responsibilities of an Agile project manager and why your small business might or might not need one. 

What is an Agile Project Manager?

Using the Agile framework or methodology, an Agile project manager assists with project planning, including budget, timeline, and scope. For example, a Scrum team may include an Agile project manager. 

The “business” side of things, such as resource procurement, contracts, budget reporting, and so on, will be handled by an Agile project manager, leaving the Scrum team to focus solely on iterative development. 

Although long-term planning isn’t typically part of an Agile or Scrum team, it’s impossible to avoid planning altogether—but you must be careful not to over plan. As a result, the Agile project manager’s role is contentious. So, let’s take a closer look. 

PM Role in Agile

A common point of debate is whether Agile teams require project managers. 

Two opposing points of view

1. Are so-called “agile” project managers merely a myth?

According to one school of thought, Agile project managers are a myth. After all, project managers aren’t mentioned in classic works like the Agile Manifesto or the Scrum Guide. 

The argument is that the traditional project manager role of tracking team performance, efficiently allocating resources, and charting detailed project plans is incompatible with self-organizing teams that plan, manage, and follow their work. 

While the logic behind Agile project management is that it eliminates the need for long-term planning—one year or more before projects begin—this does not mean that Agile projects can stop planning. 

Read More: 3 Must have Scrum Tools for Agile Teams

If you’re a small business working with external clients, planning the project budget, task timelines, and promising key deliverables with Agile contracts is required. You’ll need project managers who can create the project plans that you’ll present to clients when they sign the contract in this case.

2. Do Agile project managers serve a practical purpose?

On the other hand, businesses still require project managers to manage budgets, allocate resources, and identify project risks, according to the opposing viewpoint. 

They say that the assumption that Agile team members will take on those responsibilities automatically is flawed. In the “real world,” where projects must meet specific goals and businesses must work within tight deadlines, project managers are critical to ensuring that everything runs smoothly. 

Overplanning is one thing that will sabotage an Agile team’s momentum. Scrum software teams, for example, hold sprint planning meetings to commit to tasks that the development team will complete in a time-limited event (one week to one month). However, when teams spend too much time in these meetings, it is one of the main reasons for sprint planning failures. 

Traditional project managers, who emphasize the importance of planning, can waste hours debating the finer points and plotting out how to build them. 

Conclusion

While both of the above points of view have merits, we’ve seen how these arguments fall short in certain situations. The key to determining whether or not your company requires project managers is to determine how extensive your project planning requirements are. 

Project Management 101: Everything You Need to Know

Project Management 101: Everything You Need to Know

 

You can probably define project management and have been managing projects for your team if you have natural leadership skills, are detail-oriented, and enjoy having clear expectations. However, if you are unknown to the formal project management methodology, it is easy to become overwhelmed by this new responsibility.  

However, don’t worry! We’ll define standard project management terms, tools, and techniques in this guide so that you can lead a project with confidence. 

Project Management Terms to Know

Project management is the practice or discipline of organizing, motivating, and controlling efforts to achieve a specific goal. The project goal is created and delivered within the parameters of a budget, scope, and timeline. 

Project Manager

The project manager is the only person who has the authority to manage the project. They are in charge of defining the work/tasks, developing the project plan, keeping the budget in check, and managing the change order or request process. They also collect the project scope, maintain the project documentation, and report and communicate the project’s progress and status to all stakeholders. 

Project Team

The project team could consist of a mix of full-time and part-time employees or contractors who have been assigned to work on the project. They are responsible for comprehending the work to be completed and recognizing when to escalate concerns or issues to the project manager.   

Project Sponsor

The project sponsor is the person who initiated the project and has ultimate authority and final say over it. They are usually in charge of securing project funding, resolving high-impact issues and scope changes, and approving major project deliverables. Therefore, project isn’t considered successful or completed until the project sponsor declares it so. 

Best Project Management Tools

Gantt Chart

A Gantt chart software is a graphical representation of a project’s tasks along a timeline used to track project timelines. 

Work Breakdown Structure

A work breakdown structure, or WBS, is a hierarchical chart that outlines major project deliverables before breaking them down into smaller, more manageable tasks. It’s useful for complex project work to help identify where your team needs more detailed requirements for that task when identifying the critical path and establishing a reasonable timeline for deliverables. 

Risk Register

Every project has possible threats that, if they happen, will harm at least one of the project’s goals. These are project risks, and as the project manager, you should develop a risk register document to keep track of each risk event, the action required to mitigate or eliminate the risk, and the risk’s current status. 

Key Project Management Methodologies

Agile

The first formal project management methodology we will discuss is agile. Agile is a flexible and adaptive methodology for gathering project requirements and executing and delivering software projects in short bursts known as Sprints. You’ll begin the project with high-level requirements, but not every detail will work out before the team starts working. Instead, the team will concentrate on individual work blocks, present them to the project sponsor, and then make changes or move on to the next work block. 

Scrum

Scrum is an agile teamwork methodology for delivering iterative, incremental work segments. It is most commonly used in the development of software products. The term Scrum comes from the rugby game, where the Scrum Master, the team leader, empowers the Scrum team to work quickly and independently. 

Bottom Line: Project Management Advice

Project management is increasingly essential for companies looking to improve efficiency and timeliness. However, Each project has the potential to be a learning tool. A good project manager will always look at the big picture and individual project components. He can record the success, what went wrong, and what can improve. Overall, evaluating all aspects of a project, including the nitty-gritty, can help ensure future project success. 

3 Must-have Scrum Tools for Agile Teams

3 Must-have Scrum Tools for Agile Teams

 

Scrum is a tried-and-true agile framework that many companies use to achieve their project management objectives. However, like most frameworks, Scrum is only effective if you adhere to its rules.   

Large projects, for example, are broken down into small tasks that are completed in short, time-boxed periods known as sprints in Scrum project management. The framework also requires regular sprint reviews to keep the project team on track. But all of this may be too much for you to handle on your own, which is when Scrum tools can help.   

What Is Scrum Software?

A Scrum tool is an agile project management software that assists companies in implementing the Scrum project management methodology. For example, to track the progress of projects, Scrum team management software includes agile tools for scrum, such as sprint planning dashboards, reporting tools, and project analytics.   

Scrum tools for agile also include reporting dashboards and shared workspaces to help employees visualize the amount of work required for each project iteration and facilitate team collaboration.   

Benefits of Scrum Software

Enhanced Visibility

Project members and stakeholders can track real-time resource availability and project completion rates using features like task boards, daily Scrum meetings, and sprint reviews. 

Better Project Planning

Regular stakeholder feedback across the project lifecycle enables the development team to better plan tasks. It also predicts how much work they will be able to complete by a specific date.   

Low Risk of Project Failure

The Scrum methodology identifies issues as development progresses, rather than at the end of the project. This saves time and allows team members to make changes quickly to ensure the project’s success.    

Best Scrum Resources

Monday.com

Monday com is one of the best agile scrum software. It provides pre-built Scrum project templates for sprint planning, bug tracking, and feature backlog creation. It also includes a Scrum board, enabling a project manager to plan, assign, and track tasks and subtasks.   

The key features are Gantt charts used to plan projects and project progress reports. The software also offers a shared activity dashboard for project collaboration.   

Cost:    

Monday.com’s paid plan for three users starts at $24 per month (billed annually). It provides Android and iOS apps, as well as 200+ project templates. There is also a 14-day trial period for the tool.   

GitHub

GitHub is a software development team’s project management and version control tool. It adheres to the Scrum framework and enables project managers to divide large projects into small GitHub tasks or user stories. It also allows them to set team goals and track their progress. Among the key features are:   

  • Labels for task organization and prioritization   
  • A bug and issue tracking dashboard   
  • Project progress reports   

Read More: Top Project Management Myths Not to Fall for in 2022

Cost:    

GitHub is available for a monthly cost of $4 per user with a 2 GB storage limit. The tool also provides a free plan with a 500MB storage limit.   

Tragetprocess

Targetprocess is an agile project management tool that aids in the planning, tracking, and completing of Scrum projects. It includes a Scrum dashboard for monthly sprint planning and product and sprint backlog dashboards for tracking project progress.   

A project planning software and tracking dashboard are one of the key features. You can also use burndown charts to track project progress. Furthermore, the software includes an activity dashboard for team collaboration.   

Cost:    

The Targetprocess pricing is not available publicly. However, you can contact the vendor for a quote.    

Bottom Line

We hope this blog helps you find the best tools for scrum project management. To make the best choice, ensure that the scrum tool offers all the features you and your team require. In addition, you can read customer reviews of your shortlisted Scrum project management tool to understand its performance, features, usability, etc.