Staying on task is a crucial part of becoming a highly productive and agile enterprise. When it comes to accomplishing specific tasks or campaigns, there are software solutions to help plan, schedule and implement every part of the project. These software solutions make it easier to collaborate and budget for large businesses that have complex workflows.

What is Project Management Software?

Project managers and company leaders can use project management software to help manage costs, oversee budgets, check progress and store crucial documentation. Project management software will support employee collaboration and improve communication when it is implemented correctly.

While project management software (PMs) could be used in several different ways, its biggest objective is to support the creation, implementation and tracking of projects for companies or professionals.

According to Maximize Market Research, the global project management software market rose to $2.3 billion in 2019. These numbers are projected to rise to $7 billion by 2027.

What are the Enterprise Use Cases for Project Management Software?

There are several ways project management software solutions can benefit enterprises. They are highly flexible platforms that can be used to solve many of the most common big business challenges.

Maximizing team engagement: Project management software supports collaboration and improves communication for projects. The platform allows management and stakeholders to assign tasks and keep the entire team in the loop.

Addressing probable challenges: Project managers can use the PMs to note specific challenges that could disrupt progress. High-level and granular views allow involved participants to keep these challenges in mind as they work on their specific tasks. When things do start to get off track, the PMs will make it easier to alert involved parties and managers to get things moving in the right direction.

Detailing goals and assignments for success: A project management tool helps create detailed projects that offer clear communication on goals and assigned tasks. Projects are more likely to be successful when they are broken down into steps, timelines and individual goals.

Increasing agility by organizing goals: Agility is a big deal for enterprises that typically have large teams and multiple departments. A PMs allows groups to create their tasks quickly and share key resources—like documents and files that might be needed to complete tasks. The PMs can also be used to store project requirements, specs or guidelines for easy reference.

Improving time-management and resource allocation: Budgeting time and money is important for the success of enterprise projects. The PMs makes it easier to log time spent on projects, estimate costs, track budget use and make sure you are getting the most out of your team.

Typical Features, Functions, and Capabilities Representative of Project Management Software?

When choosing a PMs, there are a wide number of options and features you can compare. Some of the top benefits to your enterprise will include features that might not be available with every PMs. Here are 13 of the most common things you may want to look for in your project management software.

3rd-Party Integration: Choose a platform that works well with the systems you already have in place. This includes other cloud-based apps and tools your team might use for messaging, scheduling and file sharing.

Collaboration Tools: The best software will support communication with built-in messaging, alerts and project notes. It should offer convenient file sharing and make it easy to assign users to specific tasks.

Time Logs: Part of a project management software’s value is in its ability to keep projects on track and on budget. Time tracking is a feature to oversee how employees are participating and check their productivity. These tools should include milestone features and project progress to help you bill accurate hours.

Task Management: The software should offer flexible workflows that will work for you and your team. From charts to timelines, the visual tools offered should help manage tasks and clarify what is left to do. PMs tools should be easy to use so they save time and don’t add unnecessary work.

Management Boards: You will want to be able to take high-level views to assess overall performance and granular views to check project details. Most project managers are going to have multiple projects they are running and want access to on the PMs. Dashboards should stay updated in real time, making it easy to see what is being done and what still needs attention.

Scheduling and Milestones: Stay on task with detailed schedules and checkpoints. Any PMs should have the capability to set deadlines to keep projects on track.

Project Budgeting: Going over budget by mistake is no joke. Along with employee time tracking, deadlines and other tools, the PMs needs to include budgeting tools to clarify costs and expenses that could derail the budget.

Invoicing and Quotes: Along with budgeting, you should be able to work on the project estimates or invoices right on the platform from the start. With in-depth invoicing features, you will be able to keep everything in one place for a more seamless process.

Cloud-Based: Accessing your PMs at any time and from any place is important to most business managers and stakeholders. A cloud-based PMs will ensure you don’t run into access issues or licensing issues. SaaS PMs solutions typically update without interrupting your workflow and provide more flexibility.

Variety of Reporting Options: There are all kinds of insights that can be gleaned from a PMs with robust reporting. Some platforms will even offer visual reports and fully customizable reports. You will have access to templates to help you select reports that offer the most value to your team. Reports should always be up-to-date with real-time reporting.

Browser/OS Compatibility: From Mac to PC, there are many different devices, operating systems and browsers that your users might be on when accessing the PMs. Choose software that is ready to handle these different approaches—even if they seem a little outdated.

Training and Support Options: Some companies are going to offer training to help your team get the most out of their project management software use. If you run into an issue, you will have fast and helpful support on your side. Choosing a PMs that offers good customer service is going to eliminate headaches down the road.

User-Friendly Interface (Intuitive Design): Above all, your PMs should be easy to use. There is no point in having project management software that adds to your project time. If messages, notes or details get lost in a complex software design, you could end up with a lot of issues and costly problems.