How Project Management Tool Helps Sticking To Basic Project Management Principles  Organizations can consider using project management tool to facilitate to follow these project management principles in a structured manner.project management tool  Each project is unique in some or other way.: it has its own challenges, objectives, methodology, team composition, stakeholder, etc.  However there are few underlying principles that defines and governs project structure, work.  Depending on how these principles are followed, project success can be traced and evaluated.

 The most emphasized element of project management: project timeline: how and when project is delivered. Project management system enables project planners and managers to define work breakdown structure, create & track project schedule, define task list, task dependency, milestones, check resource workload, automated reminder to project team members for due tasks, showing task progress in Gantt chart and dashboard.  Well before a project planning kicks off or even before it gets started, primary stakeholders like sponsor, project manager, project planner, customers should highlight project objectives and goals. 1 ] Project Objectives and Goals: Deliver Business value  It is important for stakeholders to understand what we want to achieve from this project, the objective behind doing a project could be cost reduction, improvement in customer satisfaction, better reporting, etc 2] Time Management: Ensure Product, Service, Market Relevance

 It may be a strong statement but for fairly large projects and project where significant financial investments are made, there can be no excuse for not managing project risks.  Project risk management is necessary for prudent project management. Project risk management 3] Cost Efficiency: Drive Profitability and Sustainability  Project cost is vital from financial perspective since every project needs to be funded by its own organization or client.  And whoever is sponsoring project, want to see the bang for bucks, see the return for his investment.  The ability to have enough budget for project in order to execute it despite of risks and shocks, estimating project cost reasonably before budget is allocated, tracking project cost on an ongoing basis to keep it within budget and importantly drive project towards profitability (accounting earned value, tangible/intangible benefits). 4] Risk Management: Minimize Vulnerability and Tap Opportunities  Risk management is often followed as a conventional and mostly a routine exercise without realizing that it is an important element for managing project.  Merely having a spreadsheet to represent risk register and having stale entries in this spreadsheet represent a sorry state of project management.

 Each software boasts its own set of features, but they all share common benefits businesses can appreciate.  Project management software provides small to large businesses, who undoubtedly juggle a number of tasks, with a solution that helps keep them organized. Project management software  There are a wide variety of project management software packages available, including web-based applications accessible from any location.

1] Collaborate on Projects Employees are often assigned individual tasks that are a part of a larger project an entire team is working to complete. Project management software gives employees a way to collaborate on projects by sharing documents, timelines and status updates. 2] Delegate Tasks As a business owner, you likely weigh the knowledge, skills and abilities of employees before delegating tasks to them. Use project management software to easily delegate tasks to the appropriate employees. 3] Stay on Schedule Project management software lets project managers add a start and expected completion date to projects and tasks they include in the system. Project management software This information alerts employees to upcoming deadlines, allowing them to manage their time appropriately to complete tasks before or on the listed due date.

4 ]Track Projects Keep track of the progress of projects with project management software. The software will let you know what's been completed, as well as by whom, and what still needs to be done. Employees can provide updates as to what they're working on and share their updates with the project manager and team members. The software eliminates the need for status update meetings and s. 5] Provide a Snapshot When training new staff members and introducing them to projects your company works on, project management software offers a snapshot of the project you can share to get new staff up-to-speed. The snapshot allows you to show employees the project from start to finish, give them background information and let them know how the project will move forward.

Project management software enables businesses to share and collaborate with clients and vendors in addition to employees. Project management software Companies using project management software can provide their clients with usernames and passwords giving them access to project files. Clients can give feedback, make edits and review progress. CNN Money asserts that, because businesses need to be connected to vendors and clients, project management technology is essential. 6] Communicate with Clients and Vendors

 We, the co-founders of Zilicus, were working together in R&D unit of Parametric Technology Corporation that offers CAD, CAM, CAE software along with Product Lifecycle Management (PLM) solution.  In this company, we worked with customers from US (Aerospace, mobile, Technology co.), Europe & Japan (Automotive, technology co).  We realized how these organizations greatly benefit from PLM kind of solution which significantly reduced Time-To-Market (TTM) of new products (NPD).  It was pretty clear that the factors which contributed to success/failure of product launch for these companies have been: collaboration, right resources were provided with right access to correct knowledge i.e.

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