Management – Project Management Software

Name

Institution

Functions that a Project Management Software Provides That You Cannot Do Easily Using Other Tools Such as A Spreadsheet or Database.

Project management software involves the application of knowledge, skills, techniques, and tools to help project managers in running and planning company errands in accurate, more predictable, and profitable levels of efficiency to meet the project requirements (Puška, Stojanović, Maksimović, & Osmanović, 2020). Different kinds of software, including cost control, planning, asset allotment, correspondence and documentation, and coordinated effort software, are utilized to help in the management of the different project processes. Project management software functions are similar to other tools such as MS Excel, spreadsheet, and database.

However, project management software is more updated and accurate than other tools; thus, the project management software provides functions that other tools cannot easily provide. For instance, project management software allows easy collaboration to help get work done faster, especially in large and complex projects. One of the major elements of project management software is the arrangement of coordinated effort instruments, which allows customers, specialists, sellers, and employees from scattered areas to cooperate and work together flawlessly (Puška, Stojanović, Maksimović, & Osmanović, 2020). On the other hand, spreadsheets and other tools do not have a distinct work stage where all team members can meet up; thus, it is a major issue of concern because issues like different variables of similar documents available in different platforms are common due to miscommunication.

Also, unlike other tools, project management software helps in budget control from the start of a project to the final work (Puška, Stojanović, Maksimović, & Osmanović, 2020). Budgets are crucial in controlling projects, and any business relies on the budgets provided for growth. The software allows project managers to track the actual amount spent versus the estimated amount, thus balancing their spending rate to match the estimated budget effectively. Moreover, project management software helps monitor the stages of projects and gives insights on what has been accomplished, thus helping in tracking progress and time management. Besides, project management software has functionalities such as scheduling and task management, which cannot be applied in other tools such as spreadsheets. They have in planning schedules, activities, and resources.

How Do the Different Tools You Reviewed Compare with Project 2016, Based on Cost of The Tool, Key Features, And Other Relevant Criteria?

I reviewed two different management software tools based on their costs, key features, and relevant criteria. The software products included PMOS and Microsoft projects. Compared to project 2016, Microsoft project 2010 is more affordable, especially for students, as they can purchase them from the lowest costs from sites such as over $500 for a single user. Also, it can be accessed through the internet or downloading from other software products. Microsoft Project 2010 consists of a new interface with prevailing scheduling and task management improvements that give greater control on effectively managing and presenting various projects (Kaul, & Joslin, 2019). Some of Microsoft project 2010 include improved collaboration, that is, through the communication of issues among team members, resource management, project management, and an easy-to-use software tool.

PMOS is another software product that is effective in project management and affordable, with a selling price of $200 (Kaul, & Joslin, 2019). Its main features include the database and platforms that allow management and creating of project plans, financials, and schedules which help in improving the management of projects. The tool also has a customized security model, which helps in ensuring data safety (Kaul, & Joslin, 2019). Other features such as customized calendars, tracking records and events, creating and submitting timesheets, and rescheduling and scheduling project plans are also effective in project management.

(C) How Can Organizations Justify Investing in Enterprise or Portfolio Project Management Software

Project management software comprises information from multiple projects or departments within an organization and shows the project’s status across the active organization, approved or a future project. Organizations can justify investing in portfolio project management software because of its ability to deliver flexible work management solutions to organizations for different teams and departments. The portfolio helps in time management, cost management, human resource, and communications management, thus improving the overall performance of the company projects. The project management software has essential features that help the managers to break down their structures, thus achieving the main objective of the company projects. However, project managers should make good decisions to invest in project management software to help achieve project aims effectively and efficiently at a low and affordable cost.

References

Puška, A., Stojanović, I., Maksimović, A., & Osmanović, N. (2020). Evaluation software of project management used measurement of alternatives and ranking according to compromise solution (MARCOS) method. Operational Research in Engineering Sciences: Theory and Applications, 3(1), 89-102.

Kaul, P., & Joslin, R. (2019). ‘How increasing projectification and temporality have changed the way we look at project management offices—A systematic literature review. Project Management Development–Practice and Perspectives, 25, 175.