Best Practices

The Impressive Benefits of Project Management

Jonathan Friedman
February 3, 2021
The Impressive Benefits of Project Management

Over 40% of companies report poor project performance without the proper support from management. Project management is critical for any organization. But how can a company experience the benefits of project management? And what does managing projects look like? Read this guide to discover the advantages of integrating this management for your business.

Below is everything we will cover. Feel free to skip ahead.


What is project management?

Project management involves coordinating multiple teams together to achieve various company goals. This requires collaboration and cross-functional work. It demands aligned plans and communication.

Focusing on clear goals, especially across departments, requires powerful business tools. New structures and processes are put in place with this tool, which saves time and money.

It also offers opportunities to streamline project plans. Your company will experience better visibility of timelines and milestones. They'll also share new ways to improve service delivery and customer experience.

Overall, you'll see improvements across various processes within your organization. This will translate to better client relationships and give your business a competitive edge.

Types of project management methodology

Understanding the full benefits of project management relies on understanding the different methodologies. These methods all accomplish other goals.

These different project management methods all benefit from the right project management software. Learn more about these specific benefits below.

Improve service delivery efficiency and expansion

One of the best ways to experience project management benefits is through service delivery. The logistics of distribution, fulfillment, and operations are complex. Streamlining tasks and responsibilities can expedite current processes.

It can also eliminate time-consuming structures. More time means the possibility of expanding service offerings. Efficiency and expansion go hand in hand with project management.

Project processes

Think of how many processes a project requires. Consider how complicated it gets when you execute company-wide projects. Aligning these processes is critical to saving time.

With the right project management software, you can align delivery timelines and budget estimates. Consider how this impacts milestone completion and staying on deadline. If each team member could save nearly 500 hours a year, wouldn't you want this benefit?

The more processes align, the simpler it is to develop budgets within the project scope and plan. Planning is never simple, especially when considering timesucks like quality control and risk management.

Quality control

Quality assurance is a critical step in service delivery. With a hefty amount of review required, production and distribution teams often suffer. With better project management, the opposite can happen.

To ensure your quality control team doesn't fall behind on deadlines, you need a tool that integrates quality checks along the way. Integrating quality review across development and production focuses QC's responsibilities to a final evaluation.

Targeted responsibility means you can stagger and phase processes as needed. This creates time for tasks that go over-schedule. It also allows for the assessment of application and ROI.

Ensured transparency and accountability also help teams avoid overlooking details. With each phase of the project lifecycle, quality assessment supports collaboration. The more teams work together, and the less likely significant production errors will occur.

Risk management

One of the biggest obstacles to expanding services is a risk. Managing and assessing risk is complicated and time-consuming. It's often simpler to ignore risks until they must be dealt with.

Project management makes managing risks easier. Simplified project plans and processes mean risk analysis is more comfortable to predict. Spotting inconsistencies across streamlined projects is no longer as difficult.

Aside from easier recognition of risks, it's also easier to plan for them. Contingency plans are more effective when you have standard procedures to structure them around. Clearer processes make planning possible.

Responding to risk is much simpler with transparent reporting. It helps teams collaborate better in executing preventive solutions. It also maintains visibility for different team members across management responsibilities.

Elevate customer service and satisfaction

There's no denying the importance of project management on customer satisfaction. Improved workflows increase company offerings with better service delivery. Delivery of service extends beyond quality assurance and risk assessment.

Nearly 40% of companies found customer satisfaction improved with the inclusion of project management software. Satisfied customers are loyal and stay with organizations longer. Elevated customer service boosts customer retention and client relationships.

Client relationships

Enhancing client relationships begins with standard communication across an organization. One of the benefits of project management includes better communication. With standardized project processes, client response is more seamless.

Using optimized status reports, different teams have the same information to reference. Consistent documentation gives the ability to understand customer expectations better. If clients produce similar feedback, every team gets the same information.

Consistent client feedback benefits sales and marketing teams. It also gives production teams valuable insight for future campaigns. It also allows teams to pivot when sudden issues arise.

Implementing an organizational change policy is possible, too. Change policies help adjust to the unexpected. This allows clients to feel supported, even during times of uncertainty.

Planning and implementing a change policy requires steady leadership and clear communication. The clearer policies are, the more clients are satisfied. This elevates your company's ability to serve clients and stakeholders.

Stakeholder management

A stakeholder management strategy is vital to maintaining stakeholder trust. This is possible with the advantages of project management. A clear plan can only exist when teams are on the same page about a response.

A good communication plan clarifies project roles for stakeholders. Additionally, clear roles build trust and authority.

A plan for communicating with stakeholders also opens the door for feedback. This enhances the service you can offer and elevates client satisfaction. Using a communication plan ensures status updates and project milestones are consistent.

In setting procedures for status updates, you align different teams. This makes it easier for other groups to follow organizational strategic initiatives. It also gives confidence to stakeholders and team members alike.

Foster innovation and team productivity

Working on projects requires a hefty amount of communication. Although it's beneficial for stakeholders to see consistent communication, it needs to start in-house. The best way to boost productivity and innovation within an organization is via better communication.

Projects require 90% more collaboration than individual tasks. With this much cross-functional collaboration, you need project management benefits. The best way to make this possible is through the right software.

Strategic alignment

One of the best ways to develop cross-functional teams is evaluating strategic alignment. Like improving service delivery, every department needs consistent procedures. Strategic initiatives can guide this alignment.

Whether your company is focused on growth, stability, or retrenchment, you need consistency. The better team communication, the more possible strategies become. Individual team objectives must support an organization's vision.

Aligning strategy requires clear priorities and project management focus. Using tools that provided consistent status updates ensures seamless communication. Instead of double-checking or second-guessing other teams' progress, each team knows how much project completion occurs.

Creating a project charter can integrate objectives, benefits, and risks. It also provides valuable documentation for future reference. Use whatever layout (e.g., list, timeline) helps your teams visualize this alignment best.

Leadership direction

Extending the strategic alignment begins with a focused project manager. Often, inadequate tools overwhelm even the most competent project leaders. Using an adaptive platform allows for easier leadership and project direction.

With a clear focus and objectives, teams experience more motivation and inspiration. In turn, this boosts their productivity and ability to innovate. This makes growth strategy more possible.

Built-in status updates and custom reporting allow project leaders to monitor individuals and teams. This maintains accountability and will enable leaders to intervene accordingly. It also helps avoid over or under-management of teams.

Creating tasks and assigning clear roles and responsibilities is another of project management's benefits. It supports leaders' ability to set timelines and milestones for projects. It also helps individuals keep track of their contributions.

Project planning

The benefits of project management extend to project planning, too. At the root of any project lifecycle, from initiation to close, support is vital. Optimized methods, templates, and procedures develop better teamwork.

A clear project charter allows your team to set CLEAR and SMART goals. This establishes space for team feedback during each phase of a project. Strong leadership direction and better project planning enhance every step.

Using a project plan, leaders can also implement tools like Gantt charts for individuals. This ensures that individual needs aren't overlooked and that teams don't suffer. Coupled with a communication plan, this provides a plan's adaptability.

Rigid project planning limits the success of the project. With open dialogues for feedback, teams can check in with one another and leaders. This means that projects are more likely to remain high-quality and strategically aligned.

Subject matter experts

Another immense benefit of project management comes from individual expertise. Subject matter experts are critical within each cross-functional collaboration. Clear roles emerge when leaders assign them.

Visual tools can help other team members recognize who should be responsible for which tasks. Delineating clear experts by subject also opens new channels for collaboration and innovation.

Assessing specific skillsets helps teams work faster, too. Task dependencies may rely on the individual timelines of subject matter experts. Clearly defining and assigning these roles helps the rest of a team stay on schedule.

Build organizational communication and collaboration

Experiencing the benefits of project management is only possible with reliable software. TrueNxus offers the services your company needs to manage any project. These benefits are broken down in-depth for your reference below.

Automated status reports

As previously mentioned, status reports are vital to consistent organizational communication. With automated reporting features, collaboration is easier than ever. Now, different departments can stay on top of process updates and any project plan.

Personalized project views

Part of reliable software means personability for individual team members. Although different teams can adapt, it saves time and eases user experience with custom views. For personal accountability, custom task lists can help teams keep tabs on their responsibilities.

Live Collaboration

The best teams work together. Whether this collaboration is in-person or remote, it should happen simultaneously. The best collaboration happens when teams can work on the same project elements together.

Live collaboration avoids communication errors. It ensures seamless transitions between each project phase. This also results in more efficient project completion.

Transparency and accountability tools

Live collaboration, automated reporting, and project completion reports all support transparency. Whether it's providing tools for a team lead or individual, it's vital to project success. Accountability is essential and helps teams stay on top of deadlines, avoiding scheduling delays.

Transparency helps keep communication channels consistent. For any last-minute project updates or organizational changes, this is essential.

How can you experience the benefits of project management?

TrueNxus understands the benefits of project management. Our collaboration platform is built so that your entire organization can work as a cross-functional team. It has everything that you need to change the way your company operates. TrueNxus is the most pragmatic work management platform any cross-functional team.

In order to realize project management benefits, you need software that helps with:

Here's a look at some of TrueNxus's features:

1. Multiple views

Personalized views illustration

People require different ways to visualize work across time. Not only that, but each individual specializes in a specific domain, and as such, each thinks about work differently. To ensure successful planning and execution, you need software that provides personalized views that make sense to everyone involved. These views need to be in sync as well.

TrueNxus provides you with the following views:

List

Plan screenshot

A list is a table that allows you to manage your cross-functional projects easily. You can organize your project work into groups such as workstreams or any logical way to categorize tasks.

Timeline

Product roadmap or project timeline screenshot

With TrueNxus's Timeline, a Gantt-chart like view, you can visualize your project plans across time. It lets you understand how all of the work fits together. You can make updates to the project plans through an interactive interface.

3. Automated project status reports

Automated project status reports illustration

We understand that each cross-functional team member is busy balancing multiple priorities, from your day-to-day responsibilities to various programs and projects. Therefore, TrueNxus successfully executes monitoring and controlling projects by automatically analyzing the project's health in real-time, giving senior leadership and the team the insights they need to make decisions and move the ball forward.

4. My Work

View all of your work in one place

Another essential thing for everyone involved in project management is understanding what you're on the hook for delivering. With TrueNxus, you can view every task and every dependency vital to you, across every project, in one location, ensuring success.

5. Dependencies

Dependencies

Additionally, we know that you don't want to let your colleagues down or be let down. You can ensure the successful delivery of programs and projects through collaboration and documenting task dependencies. By doing so, you can be accountable when others are reliant on you. You can understand dependent tasks, change implications, and adjust course as needed.

6. Automated notifications

Automated workflows - notifications

No matter your role in any project, you can also successfully execute work by leveraging software to notify when changes occur. With TrueNxus's 20+ out-of-the-box automated notifications, you will have the transparency you need to stay in-the-know.

7. Comments

Cross-functional team collaboration - comments

Additionally, the entire cross-functional team can ensure project plans are successful by collaborating directly in the app. With TrueNxus, you can communicate with colleagues, clients, consultants, and contractors in one place.

8. Project charter

Charter illustration

Lastly, you can leverage OKR and create a project charter. You can ensure the successful execution of projects by documenting and aligning the project's objectives, benefits, and risks from the very beginning. TrueNxus is the only software that has a project charter directly in the app.

There are countless benefits from project management

Your organization deserves the benefits of project management software. Finding the right software isn't impossible, either. The best platform offers all the tools you need for cross-functional collaboration.

TrueNxus is no different. Our platform offers the benefits mentioned above (and more). See for yourself with a free trial. Sign up today to begin managing your company's projects for the better.