Why Every Small Business Needs Project Management
If you think only big business needs project management software, you need to think again. Every small business owner has to manage projects at one time or another. A few of the common problems facing small business owners when undertaking a project is knowing where to start and a lack of available resources to get the task finished on time and within budget. This is where project management tools can help small business.
Five Ways Project Management Helps Small Business
Organization and Collaboration
The number one benefit of using a project management app is everyone is on the same page, literally. There are no lost emails, papers, multiple copies of documents, or misunderstandings due to communication breakdown.
Wrike, for example, makes collaboration and document sharing a breeze with all team members having access to uploaded files. Ideas and real-time updates can be shared within the group activity feed. Outside contractors or collaborators can brought in on the conversation. With everyone on the same page working towards a common goal becomes a lot easier.
Reach Objectives Faster
Providing your team with the right tools and a simple framework to follow has an empowering effect. Not only do they receive a boost of confidence in their belief they can do the work both individually and as a team.
Understanding the processes behind a certain action means it gets finished either on time or earlier, saving both time and money. Nearly all project management apps available for small businesses have task-assignment options. Actionspace, for example, allows teams to stay focused on goals through task-assignment and automated-workflow options.
Cost Tracking
This is of enormous benefit for small businesses where bottom line is of vital importance. Project management apps allow you to keep a close eye on your budget and make adjustments where necessary. Being able to track your expenses means you’ll be also be able to track the progress of your project.
Genius Project allows users to quickly and easily input project expenses and time sheets directly into the system. Customize and classify the expenses to be reimbursed or paid by the company, a massive time saver for collaborators.
Time Tracking
Without a doubt, this is one of the most important aspects to take into account when planning and executing a project. Not setting deadlines means the project drags on and, as we know, time is money. Project management software allows you to know where you are spending your time and if you are spending it in the right things.
Today if a project management app doesn’t have some sort of time-tracking capabilities then it’s probably not worth having. Mavenlink has apart from the well-known Gantt chart, allowing users to create a visual timeline, a task priority feature where you can easily drag and drop to reorder tasks and timelines. Having a visual guide enables you to quickly assess the status and progress of a project.
Evaluation
The beauty of using a project management app is you have everything documented. What this means is, you have a complete reference for future projects, you are able to determine where mistakes were made, where you went over budget, delays and what caused them, where improvements can be made and so on. This is especially important for small businesses where many of the same people will be working on any future projects.
As a small business owner project management will help you reach your business goals faster and more efficiently, and will provide you with an incredibly valuable future resource. Isn’t it time you investigated what project management software can do for your small business?
