by by Francine L. Huff, Project Management: Taking the risk out of budgeting
It's important that your organization's financial plans line up with your business strategies. Choosing the right project management software can help you stay on budget while completing important initiatives to grow your business.
Project Management Costs Can Swell
Project management software should allow you to control costs throughout your company. As projects stretch out over time, unmanaged costs can balloon. In 2005, the average IT project was expected to run over budget by about 43%, according to research firm Standish Group. A Web-based solution can help you keep on top of issues that add dollars to your project, and make team leaders accountable for sudden changes and additions.
"Most companies do a good job of tracking their biggest and most important IT projects, Mike Metcalf, vice president of marketing at Artemis International Solutions Corp., told Network Computing. But he says it's the many lesser projects that are "crudely defined and poorly managed. Those are the ones that kill you."
Online Database Software Centralizes Information
Clarity's online database software helps centralize information contained in spreadsheets and other reports. With a Web-based solution it's easy to have people throughout an organization contribute numbers and make changes to a budget. A Web-based solution also allows project managers to keep track of any changes, as well as revert back to original information if needed.
It's important that your organization's financial plans line up with your business strategies. Choosing the right project management software can help you stay on budget while completing important initiatives to grow your business.
Information That's Relevant
Task software can help keep project team members on track with their responsibilities, making them less likely to miss deadlines and push up costs. QuickBase's personalized dashboard can quickly deliver project information that is relevant to individual team members.
Keeping projects on schedule and within budget can help your organization become--and stay--profitable. Project management software should help your project team members complete tasks efficiently, understand their personal responsibilities, and keep costs in check.
Sources
"Affordable IT: Staying on Budget," by Tim Wilson.
Clarity Systems
Intuit
Network Computing
Francine L. Huff is a freelance journalist and the author of The 25-Day Money Makeover for Women. She has appeared on a variety of TV and radio shows.
