Is Project Management Software Worth the Investment?

by Brittany Gunter on Oct 18, 2016 12:07:54 PM
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Project Management Software for Architects Benefits

Making the leap to online project management can seem like a daunting task. You may be skeptical and wonder if the move will pay off. This blog shares insights to help you determine if the long-term value outweighs the risk.

 

 Successful firms will need to realize the potential of software to aid their team. According to PMI, as of 2009 only about 5% of the market was using project management software, by 2025 that will be 80%.

 

This number will continue to grow because of the substantial impact project management software can have on architects' ability to deliver projects on time and within budget.

To put it simply: Project management software is an investment and fundamental tool that can assist architects in delivering outstanding projects. You want the outcome of your projects to be exceptional, not average.

Keep reading to learn our 5 benefits of switching to online project management software that will help your studio get to this next level of success and improve your bottom line.

 

Benefit #1: Increased Productivity and ROI

Project management software is no doubt an expense. The question is how does this expense compare with the cost of lost productivity? In other words, can it help your team do more with less? Take a few minutes to do this exercise to see how your studio falls:

  1. Calculate the cost of non-billable time spent on unproductive tasks
    1. Calculate the time spent by your team filling out time tracking spreadsheets, looking for files, emails, latest document versions. Add the time spent on gathering data from multiple sources and running reports to analyze the business performance of your studio.
    2. Then multiply this time spent on unproductive tasks x Staff hourly rate x # of staff = Cost of unproductive non-billable time
  2. Then compare this number with the cost of your preferred project management software

project management software benefits

There is a real cost to your studio for unproductive, non-billable time. With more available hours, your team and you can focus on doing what truly delivers value to your clients.

Benefit #2: Increased Visibility

Owners of architectural studios need to stay ahead and easily access all project related information to make better decisions

project management software benefits

Here are some ways project management software allows for increased visibility:

  • Usability. PM software will make working on a project easier for all involved. From automatic synchronization, easy collaboration, mobile access and an easy to read interface, every team member will be able to use the program right away. As a result, all project related information and key performance metrics are centralized in one easily accessible platform.

  • Accessibility. Many Project Management softwares for architects are cloud based, which means you are always connected to your important project information and you can access it from any device, at any time.

  • Centralization. An online platform also provides a centralized workspace where 100% of the project information lives. This transparency means information is at your fingertips even if you are not involved directly of the day-to-day activities.



Benefit #3: Enhanced Control

With more visibility comes greater control over the outcome of the project.

project management software benefits

Here are some ways enhanced control helps a project:

  • Reliable information: with Project Management software the latest updates are easily identifiable and you no longer have to assume the plans you have in your inbox are the latest version.

  • Standardized process: Project Management softwares offer workflow templates you can apply with every project, making it easier to apply standards consistently.

  • Ease of delegating: and everyone on the team has clearly assigned roles, responsibilities and tasks, visible to everyone and updated in real time.

  • Synchronization: No longer have to request documents from your team, or updates - it all lives in the portal.

  • Project management tools are designed to evolve as needs of the firm change. You won’t need to continue adding on extra programs, or processes - you can continue functioning in one software.

 

Benefit #4: Improved Collaboration

Architectural projects involve multiple stakeholders and collaboration is crucial to the success of the team as a whole. Collaboration applies to the project team, consultants, subs and clients. Having effective communication across the board for all of these groups is not an easy thing to achieve, which is why project management softwares were created. A study referenced by PMI found that actively fostering an inclusive environment increases the likelihood that team members will be engaged. Which is why many companies are making the investment into PM software.

Project management software for architects benefits

How project management softwares assist in better, more organized collaboration:

  • Collaborate and discuss issues with your team in real-time to keep each person up-to-date, and swiftly dealing with issues as they happen.

  • All stakeholders can receive real-time status updates on crucial deadlines.

  • Manage client access and involvement. Some softwares can provide clients with accounts so that they can access project files, give feedback, and review progress.

  • Staying connected to your remote team with a centralized workspace, accessible from anywhere.

 

Benefit #5: Convenience

Convenience is one of those benefits that is self-explanatory, but the reality is that the convenience of a project management software likely goes beyond what you even considered. 

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Some ways PM software delivers convenience:

  • 24/7 accessibility: And only need access to one single program: do away with saving emails, CRM’s, document sharing programs, hard drives, spreadsheets, Google Drive, etc. 

  • All internal and external project team members will have a similar project experience. Save on travel costs, conferencing and unproductive meetings with all project information in one place.

  • Less time for new staff to get up to speed. New team members become familiar with the project at a quicker pace and start contributing faster.

  • If a user has Windows or Mac, it doesn’t matter, a cloud-based program only needs to be connected to the internet.

  • PM softwares are primarily cloud-based, having no hardware or installation will be a blessing for your IT team.

  • Fast deployment - a cloud-based program only takes minutes to set-up.


PSMJ says that. “The only constant will be change.” Meaning, successful project managers will have to adapt to new technologies. New project management software will change how people, projects, clients and data are managed. This rate of change will continue to steadily increase, and those firms who embrace change,will reap the benefits.

 



Leverage these benefits for your business, and try before you buy.  Check out Frank and start putting these benefits into action!

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Topics: Project Management Software