Are project management software a waste of money?

Lots of people think project management software is a waste of money and they can easily manage their projects with Excel or simple paperwork. However the ground reality is different. Let’s understand how we can save lots of money and efforts by using a good project management software…

Efficiency in executing different projects is the key to a company’s profits. One has to utilize and manage time in a very judicious manner. Hiring new people and getting them up to speed in the company’s work is an expensive affair.

When we have all the details of a project recorded in a good software, the new employee gets to understand the current status of the project quite easily. The specification files are readily available and the discussions on clarification of the key concepts are right there. The deadline, the work done so far and other such things give a clear picture of the progress and therefore the new assignee can start working on the pending activities much quicker. This saves lots of time for the worker as well as the manager.

The software itself educates the employee on how the company is dealing with the project, how it plans to go about it and the various kind of tasks that go in for completion of the project. It guides employees who are not expert planners on how to prioritize their work and what pattern they should follow. The completed projects can also act as a good reference for the future maintenance work or upgrade activity because the discussion logs and the files can be checked at one place.

Mistakes related to the project can cause the company loss of clients, profit and reputation. Mistakes already made have to be corrected by employees thus causing a loss of time which could have been utilized to develop other projects. The project management software helps prevent such mistakes and saves the company from suffering loss of goodwill and money. Similarly the completed projects can be discussed and inferences drawn for future process improvement, in post completion meetings.

On the whole the project management software draw out a lot more from employees and easily creates a very high Return on Investment (ROI) for the company.

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