“A growing number of businesses need an all-inclusive software solution to help management shuffle between plans, workload, budgets and resources, observe the project progress and report on delivery,” says Heinrich de Leeuw, Managing Director, Seidor Africa, a leading SAP Business One reseller in Africa.
For businesses to survive in a post-pandemic world, project management solutions are more crucial than ever. According to a report from research firm Mordor Intelligence, the project management software market is expected to reach USD 9.81 billion by 2026 and grow at a CAGR of 10.67% between 2021 and 2026.This is because a growing number of businesses need an all-inclusive solution to manage and co-ordinate their portfolio of different projects. These solutions help management to shuffle between plans, workload, budgets and resources, observe the project progress and report on delivery. Project managers, stakeholders and users can control costs and manage budgeting, quality management and documentation and the software can also be used as an administration system.
The report states that project management software has evolved into a strategic function of today’s business due to the accelerating pace, technological advancements and digital transformation and disruption happening across almost every industry.
For project managers, the impact of COVID-19 on operations has been cataclysmic. The move to remote work has impeded the collaboration that is a norm in the project team environment. Looking beyond the pandemic, project management remains the key to success for many businesses. It enables control and visibility over all projects, from planning through to execution and billing, as well as improvement in all areas of project management, across job costing, project planning, billing and reporting. Integrated project management enables faster estimating, more accurate budgeting, more reliable deliveries and increased project margins. The result is better outcomes for the project and for the business, which is crucial in challenging times.
Here are some of the benefits of robust project management practices:
Correct estimating: With the right software, account resources, materials and time can be used as the basis for producing a quotation or proposal for your customers.
Budget vs actual spend: A pre-sales engagement that captures the estimate in the system allows the business to compare all job costs against the original budget, so the accuracy of estimates can be measured over time.
Gantt chart functionality: For project resourcing and planning, the Gantt chart is one of the most popular and useful ways of showing activities (tasks or events) displayed against time. With a dynamic Gantt chart, users can view the different stages of project dependencies and …….