What Is Project Tracking Software?
Project tracking software is a specialized group of applications programmed to track project metrics. These data often include a real time view of the status, health, and progress of a project and its components at any given time and phase. Users will also get insights into the project’s direction, finances, performance, risks, schedule, and scope of work. Most project tracking software is dynamic, visually interactive, automated, and customizable. Project tracking software combines the monitoring of project data with key performance indicators. Dashboards, analytics, and reports give users real-time information and future trends. This enables them to make decisions to either continue their current methods, make adjustments, or stop to solve problems. Project tracking tools can also be integrated with other productivity software. Team members can also collaborate with other teams and communicate with stakeholders, all within a single platform.Best Project Tracking Software
Project planning can be the most critical part of the overall project management process. This initial planning ultimately determines if a project will be successful in achieving its goals. Smaller teams often begin this process manually but quickly discover they need to leverage specialized software in order to be more effective during the planning process. Project planning tools and applications can significantly improve the quality of a project plan, as well as decrease the time it takes to develop one. the list below to compare the features and pricing of the top software developers in this space. Click through to each company’s site for further details.{{ POSITION }}
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How Does Project Tracking Software Work?
Project tracking is the practice of monitoring and following the progress of all activities and tasks associated with a project. This methodology allows team members to know precisely where a project is in its life cycle, determine if it will be finished on-time, and on-budget. Project tracking software works by providing a single source of truth for monitoring company projects. These specialist programs have been designed specifically to house critical data, manage deadlines, and communicate with key stakeholders.What Features Does Project Tracking Software Have?
When selecting the right software for your team, it is important to keep your specific business needs in mind. While many features are available, your company may not necessarily need all of them. Below is a list of some of the more common features found in project tracking software.- Resource Management – An easy-to-use tool for creating, prioritizing, assigning, and tracking tasks with dependency features. This asset is essential to the overall scheduling and deadline management of the project.
- Time Tracking – For a manager to accurately understand their team’s resources, they need to be able to budget their time well. Time tracking tools in project tracking software provide insight into the amount of time each team member spends on a project, the number of billable hours that can be charged to a client, and where the team might need additional resources in order to complete the project on time.
- Reporting and Dashboards – “What gets measured gets managed” and this idiom means even more where reporting is concerned. Businesses today depend on data, and easily accessible and publishable reports are vital to productive project tracking. The best project tracking software incorporates prominent reporting dashboards with customizable views and the option to publish these dashboards to stakeholders. Alternatively, if the tool does not include built-in data reporting, look for one which allows data exports to business intelligence tools or .CSV files that can be used to transfer data into another program for further analysis.
- Document Management – An efficient and organized team should be able to access all project-critical assets as needed regardless of time of day or location. Project tracking software lets users store vital documents and files in a shared folder or separated by projects. When reviewing this feature, look for tools allowing varied access levels for different team members so the right people have access to the right files.
- Communication – Accurate and timely communication is the hallmark of any project tracking software. Whether through integrated messaging systems or power video conferencing tools, many of the best project tracking programs boast powerful communication utilities.
- Budget Management – Quality project tracking software will help you coordinate client-based work, which often requires a robust budgeting tool to ensure that resources are invested correctly. Budgeting features will allow your team to set overall, departmental, and project-specific budgets. They can also include work order, invoicing, and payments tools, although you may need to connect to your accounting software in order to take full advantage of these features. More robust platforms might also connect project tracking to billing and invoicing tools, either as integrated features or via an API connection.
- Team Calendar – The shared calendar features found within project tracking software are user-friendly and include intuitive scheduling and collaboration abilities, auto-synchronization, sharing features, and more. Team calendars are fantastic for organizing team meetings during the project management process. They also encourage transparency, attendance, and can streamline task management.
