Why to Use Time and Resource Tracking Software for Managing Projects?

According to hubspot.com, 56% of American workers attribute their failure to productivity and success to miscommunication and the lack of accountability. Ineffective project management could mean the difference between success and failure for your business. It’s true that the project management process is not only time consuming, but extremely laborious and difficult.

However, this is where project management (PM) tools come to rescue. A project is often completed within a certain timeline and utilizes a specific set of resources and operations. Hence, project management can be defined as the proper planning, management and application of the necessary skills and tools to achieve the project requirements.

Project management (PM) software helps streamline and facilitate all the planning and supervision needed in completing a project.

Investing in such effective software will cost you some. However, considering the amount of money that you stand to lose due to poor project performance, this software is extremely cost-effective. In fact, according to zapier.com, 9.9% of every dollar ends up wasted due to mediocre project performance.

However, you can access free project management tools to help streamline your business as well. By using these tools, you get to learn and experience the benefits, if you’re not interested in investing yet.

For the purposes of this article, we shall be focusing on the importance of using time and resource tracking Software for managing Projects.

Efficient Scheduling and Planning

Essentially, every project requires a team to achieve the objectives and goals. However, each team member is often allocated his own individual task to accomplish each day. The lack of scheduling and proper task allocation is the perfect recipe for unproductivity and lost time.

A time and resource tracking Software can help you plan and schedule all the tasks appropriately. Such software goes a step further by setting the time limit in finishing the allocated tasks. This helps save on time, increase productivity and reduce misunderstandings.

Proper Resource Management

In the process of achieving the objectives of a project, certain resources are often needed. They include time, money, tools and people just to name a few. The lack of proper resource management can cost a business a lot.

A time and resource tracking Software helps outline the type of resources needed for a certain project and how much. It also outlines the cost of investing in the resources needed for the project. As a result, you end up saving on time, money and missing the required resources for the project.

Accurate Documentation

If you’re relying on an individual to document the progress on a project, you are prone to experiencing human error. Moreover, even companies that use Excel spreadsheets have been found to experience errors in their documentation. Errors often caused businesses, and hence; should be avoided.

With PM software, you can eliminate any chances of errors in your documentation.

Effective Team Work

Projects often require a group of people to work together in achieving the same objectives and goals. However, each member that makes up a team is often allocated a different task. Hence, effective communication helps deal with several problems that may arise, monitors the progress being made and ensures effective team collaboration.

Project management software helps facilitate efficient collaboration by enhancing fast communication among the team members. This way, the team is able to work towards a common goal in very little time.

In conclusion, there are a number of free PM tools that you can find online. From Asana and TeamGantt to Clickup and Airtable, there’s a lot you can choose from. By checking the features of a Free Project Management Tool, you can select the one that suits the needs of your business and project.

About the Author :

Manoj Rawat, a Growth Hacker, Ideator, Innovator and Experienced SEO, SMM and Marketing Consultant with over 8 years IT experience. He loves to share marketing tips & strategies among online marketers. He is an avid sports person, traveller, explorer & nature lover. You can find Manoj on Quora, LinkedIn and Twitter.

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