If your business requires you to deal with many projects simultaneously, it is time to implement a Project-Based ERP Software. Such a solution can help in curbing the stress of handling multiple projects and enable you to get the best performance out of the team.
It is imperative that you choose the best ERP for Project Management customized for your business type. However, doing so becomes challenging, given the wide array of Project-Based ERP software available in the market.
In this blog, you will learn about the basics of Project Management Software, its benefits, and implementation.
What is Project Management ERP?
Project Management is the rather latest entrant in the field of ERPs. It includes features required to manage the execution of projects. Project Management Solutions helps in the effective allocation of resources to help avoid delays and meet customer demands on-time and in-full. Besides this, the best ERP for Project Management will allow you in estimating the budget, planning and scheduling the activities, allocating manpower, decision-making, and cost-controlling.
What are the benefits of Project Management ERP?
Majorly, a Project Management solution helps to ease out the management of projects. It additionally helps in increasing resource effectiveness as project leaders have a holistic view and control of assignments with the help of accurate real-time data being generated from the software. There are multiple other key benefits of Project Management software that are shared below.
1. Establish milestones and set end goals
Successful execution of project entails establishing milestones and setting the end-goal. Without these, you will fail to speculate the project progress. Project Management ERP implementation helps you to monitor as well as achieve milestones at every step.
2. On-time completion of Projects
In the existing market scenario due to the growing competition between service providers, organizations are expected to assume the responsibility of delivering the project within the agreed timeline. Project-based ERP software helps in addressing the timeline adherence related challenges by precisely mapping and facilitating the Manpower, Material, Machine, Methods, and Money related requirements.
3. Centralize project-related data
On-time project delivery depends on the availability of data related to project progress and updates. It is also vital that all the manpower involved in the execution of the project communicate centrally. Project Management solutions help with data centralization and make real-time updates available to the team leads as well as members. It also helps in performance tracking of individuals at every stage.
How to Implement a Project Management ERP?
It is rare that the formulation of a Project Management ERP ever misses the objective. However, implementing it is, indeed, a challenge. Here is what you must speculate:
1. Implementation – To Or Not To
The first and foremost step in the process of implementing project-based ERP software is to analyze its requirement. For instance, 70 percent of the results of a project might be getting driven solely through the efforts of the manual workforce. Now, you must focus on the remaining 30 percent and the possibility of overcoming this gap without the implementation. Subsequently, you will be able to prioritize a project-based ERP implementation.
2. Convenient Interface
The second factor to keep in mind is that the Project Management System must be devoid of any confusing interface. It should be convenient to be utilized by all sorts of team members involved in the project. Also, an easy to use interface will save time in both understandings how it works and utilizing the software.
Every industry and business is unique. So are their requirements regarding the management of projects. It is imperative that the Project Management software that you are speculating should be mapped in line with your organizational goals. Hence, it would be best if you also consider the option of software customization to make the software suited for your business needs.
Although project-based ERP software will address the major challenges of project management, you must always check if it is suitable for extensions. This will help you in scaling up wherever the software is falling short of your expectations regarding the project management needs.
If you are still skeptical about the viability of the software, you can request your implementation partner for a trial version. In this period, you can monitor the usage of the solution and decide whether it will be feasible to implement the same. You can also speak with expert business process management consultants who could guide you about the best ERP for project management available in the marketplace.