Sustained growth and the ability to attract top-notch clients and projects are at the heart of any professional services organisation’s ambitions. A close look at any firm that has achieved considerable success in this regard will reveal that a proactive approach to eliminating project inefficiencies and low productivity is crucial. In other words, effective project control is essential for profitability.
These firms have the ability to:
- Reduce project costs
- Complete projects faster
- Make projects more profitable
- Bid more competitively for new projects
Making your firm more competitive comes down to finding an effective system to aid you in estimating, tracking, delivering and getting paid for your services. Adopting project planning software is the fastest way to create such a system and excel at these crucial project fundamentals:
Project estimation process improvement: You need a clear upfront visualisation of what a project will entail to ensure its success upon completion. This will require you to correctly estimate project length and resource requirements, information which will enable you to present your client with a near accurate quote estimate and thereby eliminate the risk of undercharging.
Resource usage optimisation: Your project planning software should help you to keep tabs on your resources and therefore enable you to arrive at accurate real-time decisions. Thanks to resource availability information you’ll be able to schedule tasks and activities accordingly, re-prioritise tasks, and make timely decisions for supplies procurement, hiring, and so on.
Budget control improvement: Achieving effective project planning in consecutive projects will make you increasingly better at budgeting and cost control. This will be reflected during project estimation phases where you’ll have the ability to quote accurately and avoid overstepping the budget.
Productivity measurement: Productivity refers to the rate at which work is performed; making this a priority is crucial because you don’t want costs from inefficiency to reduce overall profitability. As such you need to know if you are getting maximum output from employees working time. Their accountability is fundamental for project success.
Improve team collaboration: Real-time communication is important if the synergy necessary for project success will be achieved. Team members need to know about their colleagues’ progress and the status of assigned projects within the whole. You need a channel that will expedite communications (thus facilitating urgent brainstorming and problem solving) while eliminating the risk of losing the same.
With the help of cloud-based tools your organisation can collaborate on multiple projects across different geographies in real-time.
Accurate reporting and analytics: With the right planner software, you will be able to produce accurate reports on demand. This will be a great way to update project stakeholders about resource utilisation, operational costs, workforce performance, budget management, progress status and profitability on an ongoing basis. Clients will definitely appreciate your professional approach.
Last but not least, promoting customer satisfaction: This is especially true for projects where client feedback is required for stage by stage progress. In this case you will be able to respond to their inquiries and concerns from a factual standpoint and in return receive timely communications from them.