As a business project manager (PM), your company's bottom line is probably hurting if you’re not aware of a key ROI distinction:
Direct Revenue Returns from Clients/End Customers vs. Returns from Internal Processes.
Let us explain.
For commercial enterprises – big or small – the primary focus of all effort is on external profit accumulation. The basic, classic ‘revenue minus cost’ positive equation that dictates their day-to-day and long-term existence.
The ‘higher’ (dare we say more ‘virtuous’?) organization types generally tie some form of a collective, social good in their mission objectives to this necessary concern and actually do pursue the path.
In either case, their profit statements can suffer if the work orientation is too rabidly outward, at the expense of internal projects that don’t reflect directly on the bottom figure: the part where business project management software works its magic.
A solid project management tool fit, in fact, can help all businesses/project managers achieve huge savings by optimizing internal workflows – to the point that they do become significant monetary contributors.
In this piece, we will detail how to pick the best project management software for your business operations. To put the discussion in its proper context, we’ll also explore:
Contents
- The Internal Business Perks of Project Management Software Implementation
- Your Go-To Criteria Framework for Separating PM Tool ‘Hits’ from ‘Misses’
- Our Top 5 User-Friendly, PM Software Recommendations for Internal Business Projects
- Subscription & Workplace Deployment Best Practices
Let’s go.
How Project Management Software Benefits Internal Business Processes
Project management software is a crucial asset for businesses handling internal projects. It offers several benefits that streamline processes, enhance productivity, and ultimately improve the company's bottom line (by adhering to project management strategies built into the design).
Project Planning
One of the main advantages is improved project planning. The software allows teams to establish a clear roadmap, set realistic deadlines/key performance indicators (KPIs), and track progress in real-time. This leads to better control over projects and helps to mitigate risks associated with missed deadlines or mismanaged resources.
Time Management
Time management is another key benefit of using project management tools. They help businesses keep track of tasks and see them against the backdrop of the entire project, ensuring that no detail is overlooked. Furthermore, they also track the number of hours your team works on projects, enabling accurate billing and payroll calculations.
Resource Allocation
Resource allocation is also a notable area where project management platforms shine. They facilitate businesses in optimizing the use of available resources, preventing wastage or overutilization. The software can provide insights into project progress, performance, and inventory tracking, aiding in decision-making.
Change Management
Change management is yet another benefit. When unexpected changes occur, project management software allows for quick adjustments to the project plan. This ensures the project stays on track, even when faced with unforeseen challenges.
Enhanced Collaboration
Enhanced collaboration is a significant advantage. The software facilitates teamwork by providing a platform where team members can communicate, share documents, and work collectively towards common goals.
Improved Productivity
Finally, the use of project management software leads to enhanced productivity. By streamlining processes, improving communication, and providing a clear view of project status, the software helps teams work more efficiently. This not only leads to better project outcomes but also contributes to the overall profitability of the business.
Weighing the Best Project Management Tool for Your Budget
Doing this is easy if you have some expert-backed guidance to give you a headstart.
When evaluating any project management software options for your business, weigh your picks against the following criteria framework. Note any ‘hits’ (feature availability) and ‘misses’ (feature gap) you notice. In the end, the tool with the largest number of hits is your winner.
Functionality and Features
The first step in evaluating project management tools is considering their functionality and features. The software should be capable of handling the desired functions such as task management, resource allocation, time tracking, and reporting. Additionally, it should offer features like real-time collaboration, mobile access, and integration with other software your business uses – facilitating project teams.
Ease of Use
The program should be user-friendly and intuitive. A steep learning curve can lead to resistance among team members and reduce efficiency. Look for tools that provide a clean, easy-to-navigate interface with clear instructions and tutorials. It's also beneficial if the provider offers customer support and training.
Scalability
As your business grows, your project management needs will evolve. Your chosen tool should be scalable to accommodate growth and changes in your business operations. Check if it allows for additional users, projects, and storage as required.
Cost-Effectiveness
While considering the cost, don't just look at the subscription fee. Consider the value the system brings in terms of improved efficiency and productivity. A more expensive tool might offer features that significantly streamline your processes, making it more cost-effective in the long run. Additionally, consider if the tool offers different pricing plans that can be adjusted as per your needs.
Security and Compliance
The software should provide robust security measures to protect your project data. This includes features like data encryption, two-factor authentication, and regular backups. If your business operates in a regulated industry, ensure the tool complies with relevant regulations.
Our Top 5 Picks for Busy Project Managers
If you’re new to the world of good project management – new-age, tech style – don’t worry if you’re unfamiliar with the marketplace options.
Just go ahead and start with one of these task management tools: they’ll pretty much cover every workplace optimization concern you require addressing.
Listing…in no order of preference (but mentioning the distinct value props of each):
Let’s explore each in succession.
Airtable
Airtable is a robust project management solution that seamlessly enhances internal business operations. Combining spreadsheet-like familiarity with the functionality of a database, it offers remarkable adaptability for diverse projects and workflows, whether it involves product management, content scheduling, event coordination, or CRM.
Its user-friendly interface with a drag-and-drop system caters to users of all technical backgrounds, simplifying the arrangement of tasks and processes.
The platform excels in facilitating real-time collaboration, enabling team members to provide feedback, attach files, tag colleagues, and receive notifications to remain up-to-date on task changes.
Airtable's integration with various tools like Slack, Google Drive, and Dropbox promotes efficient data transfer, diminishing manual data entry needs. It presents an array of templates tailored to different industries and a selection of data views for optimal project visualization.
Moreover, the tool empowers users to automate recurring tasks, such as generating notifications upon task status changes, streamlining operations and preventing oversights.
As businesses expand, Airtable scales accordingly, accommodating additional users, bases and plan upgrades to access supplementary features and storage.
For Updated, Custom Pricing, Demo Screening, Detailed Software Specs, User Reviews, and more
LiquidPlanner
LiquidPlanner is a powerful project management software known for its predictive scheduling and resource-driven technology, which aids in achieving efficient business operations.
The platform enables accurate task estimations, leading to realistic timelines and enhanced project planning.
Its standout feature is predictive scheduling, adjusting schedules automatically based on priority and resource availability, ensuring timely project delivery.
LiquidPlanner also offers balanced workload management, preventing resource overloading and underutilization, and promotes collaboration by involving the entire team in the project plan.
It optimizes performance by aiding in task prioritization and outcome prediction, enhancing decision-making and project delivery quality.
For Updated, Custom Pricing, Demo Screening, Detailed Software Specs, User Reviews, and more
Notion
Notion offers a comprehensive project management platform designed to simplify business operations with a wide array of features.
It provides an all-in-one workspace that combines note-taking, planning, collaboration, and organization, eliminating the need to switch between various apps. The software comes equipped with customizable templates for different purposes, enabling tailored solutions for tasks like product roadmaps, meeting notes, and task lists.
Real-time collaboration tools allow simultaneous editing, commenting, and mentioning of team members, promoting clear communication and alignment.
Notion's integration capabilities seamlessly connect with popular tools like Google Drive, Slack, and Figma, streamlining workflows by centralizing information. Additionally, it facilitates knowledge management through internal wikis, enhancing access to important company resources.
The platform's task and project management tools, including Kanban boards and tables, simplify task assignment, due date setting, tagging, and progress tracking. Notion also provides robust access controls, ensuring secure management of sensitive information by permitting specific viewing and editing permissions.
For Updated, Custom Pricing, Demo Screening, Detailed Software Specs, User Reviews, and more
Todoist
Todoist is a widely used project management tool that enhances business operations through its simplicity, flexibility, and powerful features. It excels in task management, enabling easy task creation, due date setting, priority levels using color codes, and task organization within projects for clarity.
Collaboration is fostered by task assignments, comments, file attachments, and update notifications. Recurring tasks prevent important activities from being overlooked.
The tool integrates seamlessly with various platforms like Google Calendar, Dropbox, and Slack, reducing manual data entry and boosting efficiency. Its visual productivity trends aid in understanding work habits and maintaining motivation, while templates streamline project setup.
Further, its user-friendly interface and simplicity contribute to its ease of use for team members of all backgrounds.
Available across web, desktop, and mobile, Todoist ensures task and project management accessibility from anywhere.
For Updated, Custom Pricing, Demo Screening, Detailed Software Specs, User Reviews, and more
nTask
nTask is a holistic project management interface aiming to streamline business operations through its diverse features.
It centralizes key functions like file handling, collaboration, task management, Kanban boards, checklists, and risk assessment, all within a unified platform.
A pivotal advantage lies in its progress tracking capability, granting a comprehensive view of project advancement, aiding in the identification of potential risks, and facilitating efficient priority setting.
Moreover, nTask manages tasks and elevates operational processes, freeing up mental bandwidth for strategic thinking and innovation, thus contributing to overall process improvements.
Further enhancing teamwork, nTask fosters collaboration by enabling seamless task sharing and equitably distributing workloads. The software excels in managing meetings, providing tools for scheduling, planning, and oversight, with a strong focus on critical review of meeting minutes, ensuring effective communication and follow-through.
Additionally, nTask offers workspace management functionalities, allowing precise role and permission assignments, guaranteeing that pertinent information is accessible to the right team members. With its multifaceted approach, it serves as a dynamic solution aimed at optimizing project management and operational efficiency.
For Updated, Custom Pricing, Demo Screening, Detailed Software Specs, User Reviews, and more
Subscription & Software Installation: Next Steps
Next comes the software installation stage, where you implement it in your workplace.
Here, you want to follow certain key best practices that we’ve comprehensively covered in our ‘Project Management Tool Implementation Checklist’ whitepaper.
If you have any queries regarding the best PM software for your business, don’t hesitate to give us a call at (661) 384-7070.
