Project management involves many risks that need to be measured and reduced to insure a realistic, appropriate and secure management. Beyond their key features, project management software are also precious tool for risk management.
As expected, Budget Management requires precise calculation and realistic forecast. It is important to take all the aspects of a project into account to determine a rational budget that incorporates risk factors in order to avoid a financial overflow.
Budget management by project is of prime importance because unexpected events can modify the guideline we give to the budget. That is why it is important to always anticipate and prepare a budget for unexpected fees as well as making sure that you respect the cost allowed to each step of the project. This can all be management with a financial tool such as Abak 360.
Invoicing is a very important for the project manager, especially when it concerns professional services projects because time is the billable unit. That is why, given the types of projects (…) and applicable billing rate (…), it is important that the invoicing system is “connected” to the time management system. See Abak 360’s website for more details!
Being too optimistic while planning a project with the sole intention of pleasing your client can be problematic regarding the project’s delivery. Not being able to meet the expectations you previously created could result in a declining sense of trust from the client. By perfecting the art of project management, you will succeed in conciliating the tasks of each project with the available resources, making it possible to determinate a realistic WBS. EPM Cloud 360 and Efficient 360 then become essential tools.
Frequently, the success or fiasco of a project is attributed to the changes happening after its beginning; however, it must be noted that the absence of a management system allowing tracking and change approval is often enough the source of multiple problems affecting the project on the levels of:
- Delivery delay;
- Required specifications.
Eliminate those issues with Efficient 360.
When they are not planned, many teams find it hard to manage changes in a project. It is important to keep the team informed at all times regarding the changes happening during the project. For a sane and dependable management of the project and its changes, it is advised to use a specific too such as Efficient 360 that guaranties a global vision of the project’s history.
Many managers believe they can accomplish more by starting all the projects they have at the same time; however, this often proves to be counterproductive. Juggling with multiple projects slows employees down, lowers the level of quality, and generates delays that can affect multiple divisions in the enterprise. To reduce these productivity losses, it is wise to diminish the number of simultaneous projects and set a system up to manage the company’s capacity of accepting new projects. Abak 360 and EPM Cloud 360 are the ideal tools to accomplish such a task.
ASSIGNEMENT AND ROLES
Some projects are affected by the problems brought up by wrongful employee assignment to roles that don’t fit for them. Using the tools that can help us assign our employees to the right roles allows an organized, pragmatic and well suited administration of the project. The Abak 360 and EPM Cloud 360 solutions answer this kind of need.
Characteristically, a project manager can be assigned to a particular project simply because he is available, and not because he is qualified for this specific task. This selection method can cause multiple problems during the project’s execution because an unexperienced project manager – or one lacking the required skills – could ultimately jeopardize the project’s success. These kinds of problems can be avoided with the Skillmap 360 solution.
MOTIVATION AND CENTRALIZATION OF INFORMATION
On several occasions, a project can undergo important delays or simply fail because of a lack of implication from the employees involved. It is possible that project managers were not clear enough regarding everyone’s role, or did not emphasize the risks, the issues, the chain of communication and the project documentation sufficiently, or simply did not diffuse a feeling of emergency when the project needed it. For more information regarding the abolition of such problems, visit Efficient 360’s website.
LACK OF FLEXIBILITY
It might be difficult to derogate from the steps you carefully planned in your project’s plan. However, it is strongly recommended to allow some space for suggestions and new information, which could appear during the project. Take a step back: by having a general view of the current situation, you can improve the quality of the work to come and open the door to new possibilities. EPM Cloud 360, Efficient 360 and Abak 360 can help you reach full satisfaction!
One of the most frequent problems in project management is lacking a metric to calibrate achievement. To understand what coefficients drive a project to success ensures satisfaction for everyone implicated. It is important to use time, assignment, timeline, capacity, invoice and change management tools, all within the conformity of the ISO certification with the qualified resources.