Enterprise Project Management software (EPM) is arguably the Holy Grail of productivity. According to the Project Management Institute (PMI), improved productivity is one of the five core benefits of EPM. Once you use it you can rest assured that your organization will save time, reduce costs, and enhance productivity. But how does Enterprise Project Management software help achieve this?
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As traffic cameras are a mode of surveillance for the road, an EPM (Enterprise Project Management) is a tool to manage your organization on a large scale. It is an upgraded version of project management software. While a project management tool can manage projects or teams, an EPM can manage the needs of your entire organization. So what are the main benefits of Enterprise Project Management software?
Key Features of EPM Software
Ease of Access
All of us suffer when using multiple applications to get our job done. With Enterprise Project Management software, you need not juggle between apps anymore. This tool eliminates the problem of navigating across systems to get your task done. You can create a task in the EPM, assign it to team members, and add directions on how to perform various components. Also, you can attach files if you want, it’s that simple!
An EPM also provides a central repository where all your data is stored, allowing you to access the details of every project which you can retrieve whenever it is needed.
Seamless Collaboration
Without an EPM, your team members may struggle with knowing what the whole team is doing. Enterprise Project Management software, however, keeps your team members informed about tasks that other members are working on. It promotes healthy and transparent communication throughout your organization.
Informed employees make quick decisions and deliver projects swiftly. An EMP is an all-in-one platform that alerts your members when there is a change in the priorities. It saves time, saves costs, and saves the extra trouble.
Time Tracking
We all know that a project is a project because it has a definite start and end date. It needs to be completed within that timeline to be profitable. The time tracking features of Enterprise Project Management software saves the estimated hours for a task while also tracking the actual hours for a task. You can monitor the amount of time you invest. Time tracking gives you an opportunity to manage your team in an efficient manner. If you think you have invested way too much time on a task, you can re-prioritize it and complete a more critical task first.
Manage Resources
To run a successful organization, you need to identify the factors that are holding you back. Enterprise Project Management software helps organizations better manage their resources. The best of these platforms helps take the guesswork out of resource allocation by helping teams plan and prioritize based on data updated in realtime. Capacity and demand planning reconcile the volume of work that needs to be done with your resources actual capacity (usually in hours).
Reduce Expenses
Tracking project financials helps managers avoid budget overruns. Project managers can better control costs by periodically tracking and comparing the actual spending against the estimated budget (auditing). If there is a variance, necessary corrective measures can mitigate project risks ahead of time. Further, enhanced visibility to team members priorities and project task times allow resources to be redirected to improve efficiencies and further reduce total project cost.
