SEPTEMBER 13, 2022 | Emily Stancer

What Are Project Tracking Tools & Why Is It Essential For A Company?

One of the most critical roles of a project manager is project tracking. You should be able to deliver an accurate project status report that details the difference between actual and anticipated progress at all times. You should also be aware of any key accomplishments or milestones, as well as if the project is proceeding as planned. Without a project tracking system in place, you risk missing upcoming deadlines that could jeopardize project completion and putting yourself in a bind when a higher-up requests a project update.

In this comprehensive guide to project tracking, you'll learn why project tracking is so important for project managers, as well as what project tracking tool and best practices have worked well for project managers and how to create your own project tracker so you're never in the dark about a project again.

What is a project tracking tool?

Project tracking tool records and observes the progress (or lack thereof) of tasks and activities associated with a specific project. The ability to track projects enables important personnel to understand where a project is in its life cycle and whether it is on pace to be completed on time, under budget, and with a valuable ROI.

Furthermore, online task management software keeps stakeholders and project managers up to date on the activities and milestones that have been performed, the resources that have been spent, and the changes or accommodations that need to be made to account for any unanticipated setbacks that may arise.

What makes a project tracking tool so important?

Project managers, team members, and stakeholders must use online task management software to maintain track of a project's objectives, due dates, and current status. When managing large, complex projects with multiple phases and deadlines, project tracking guarantees that tasks are finished on time and deliverables are submitted.

Project monitoring also ensures that project managers are notified as soon as possible if a project deviates from its initial course and explains why the best small business management software is required to handle any contractors or freelancers. A project tracking tool can also help managers estimate projects and identify potential concerns before they become major issues, saving time, money, and resources that would otherwise be spent on corrective activities.

What are the most effective project management techniques?

There are a few things you can do to guarantee that you and your team make the most of your project tracking tool. Here are some examples of good project tracking practices:

Plan

You can't know if a project is going as planned if it doesn't start with one. Without a clear project plan that includes objectives, task lists, team member assignments, target dates, milestones, deadlines, and KPIs, you would be unable to follow the project accurately.

Tell the truth.

Setting realistic timelines is the first step in keeping delivery on track. Project failure and unnecessary stress may occur from exceedingly aggressive delivery timelines and budgets. Furthermore, when deadlines and milestones are consistently missed, project tracking becomes significantly more difficult.

Identify potential hazards

It will be much easier to track and sustain the speed of your project if the risks are identified early on. Project hazards are classified as known, unknown, or unknowable. By defining each type of risk during the project planning process, you may better prepare for and mitigate any potential effects on project results.

Consistency.

Only when you track the project on a regular basis will it work. Create a schedule to track project progress; otherwise, you risk missing deadlines and tasks.

Accuracy

Do not mark jobs as complete until they are totally finished, even though it is tempting to do so if the project is moving slowly. This could result in work being left undone at the end of the project, as well as misleading team members and stakeholders about progress.

What features of the best small business management software should you look for?

With so many alternatives available, how do you choose the best project tracking application for you and your company? Consider the following aspects while selecting project tracking software:

User-friendliness

The software's capacity to help with simpler project tracking should be the initial consideration. If the software is extremely complicated and tough to use, project tracking will become significantly more difficult and complicated.

Communication

A project's success is dependent on open communication. Any project management software you use should allow for easy communication among all parties involved, including team members, project leads, senior management, and stakeholders.

Does it meet your company's unique requirements?

Finally, ensure that the project tracker you are considering will meet your specific needs. Make an immediate list of the essential traits you require. You'll then get a sort of checklist to utilize to pick which curriculum is ideal for you.

Are there any tools for project tracking?

In the digital age, there are plenty of project tracking tool available, including project tracking software that makes keeping track of projects of all sizes easier. Project tracking software has the following advantages over a manual project tracker:

Real-time project status updates

Everyone involved in a project, from team members to top management, has quick access to the most up-to-date information thanks to online task management software. staying one step ahead of worries and challenges The sooner you detect potential project concerns, the easier it is to stop them in their tracks. Managers may immediately assign resources and modify priorities with project tracking tool before issues block project development.

Keeping the group motivated

When teams can monitor daily progress and watch their work lists shrink as the project nears the conclusion, they are more likely to stay motivated. Additionally, project tracking software allows team members to see how their contributions fit into the larger picture of the finished product.

Reporting with ease and precision

Finally, the project tracking tool makes reporting quick and easy. Experienced project managers are aware that customized reports are typically preferred by diverse stakeholders. With the right project tracking software, you can quickly and effectively produce tailored reports without spending hours gathering information from numerous sources.

Why should you use the IPPBX EZ project to track your online projects?

IPPBX allows you to properly track and monitor any project your company is working on from a single, central location. IPPBX keeps you connected and up to date on your projects whether your team is assembled in one location or spread across the globe. IPPBX is compatible with and supports a variety of project management methodologies. A vast variety of pre-built project templates ensures that any assignment is completed effectively.
Are you ready to discover all of the advantages of utilizing IPPBX’s EZ-project as your online project tracking tool? Begin your two-week free trial today to find out for yourself!

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