Best Project Management (ERP) Software in Bangladesh

What Is (A) Project Management System?    

To understand the concept of a project management system, the first thing you have to know is the project. What is meant by the project in the business environment?

The explanation is very simple: a project is nothing more than the sum of actions used to develop a business idea. Do not forget, in any case, that this idea must have commercial and financial viability. And it must also respond to a vision both short and medium, and long term.

Here comes the project management system. It can be defined as a collection of tools that help you manage the projects.

For starters, project management systems manage and integrate a company's:

• Financial processes,
• Supply chains,
• Operations,
• Reporting,
• Manufacturing and human resources.

Various tools help in the project management of a company. Most companies have some form of financial and operating system. But most of the software available in the market cannot go beyond standard business processes or help future business growth. It is no longer enough to keep and manage company accounting alone.

Now, the tools need to efficiently automate and integrate the processes that characterize the corporate world. Not only that, the project management systems need to keep up as business needs change and expand.

Read Also: Best ERP Inventory Management System Software

Why Use a Project Management System?

The project management system will bring a series of positive aspects that will help your company to progress:

Maximizes the Operational Capacity of the Company

By using a management system, you can increase the efficiency of your daily work. That is because tasks are adjusted to increase your productivity.

In addition, it encourages

communication between the different areas of the company. It allows all members of your organization to know in detail what their responsibility is. As a result, they will be able to focus on it. All this translates into a reduction in both the time and the associated costs.

Coordinate Resources

This improvement in communication can help to make it more efficient. For example, the company's different areas that work with the same supplier can combine their activity.

Gives an Overview of the Company

Data can be transferred between the different departments. It will further prevent them from acting independently. With this, it is possible to know the real capacity of the work team. Also, you will get to identify weaknesses and risks more quickly to enable their correction. And finally, you can give priority to the areas that need it most.

Allows You to React Faster to Changing Demands Because It Facilitates Fluidity in Daily Work

The ultimate objective of the project is to cover a specific need that the client has. Therefore, the project management system provides a point of view focused on the client. In this way, quality will improve since your service will have to adapt to the demands of your consumers.

Facilitates Learning from the Past

With a project management system, information is accumulated on the appropriate way to develop a task. This allows standardizing some processes. In this way, its future repetition is easier, faster, and cheaper.

Avoid Risks

A well-managed project minimizes the potential for cost overruns and failures.

Improve the Image of the Company

Project management system results in more effective service. As a result, it conveys an image of professionalism, competence, and seriousness. As a result, it can be very useful for you to increase the value of your brand.

All these reasons justify that the project management system is of great importance in today's corporate organization. Unfortunately, however, many companies still do not take it into account. But when you are going to implement this strategy in your company, you must bear in mind that there is no single way.

6 Essential Features of Project Management Software

Good project management software helps you centralize information. And at the same time, it allows each employee to consult their activities at any time. A good ERP must offer valuable information on the distribution of the workload. As a result, you will be able to make changes without losing sight of the final goal.

Here are 6 essential features that a good ERP must have:

Project Planning

The planning tool is the essence of your project management software. At a minimum, it helps you keep track of your scheduled tasks and deadlines. A team-shared calendar can be a great asset. Also, an automatic notification when a deadline approaches can be a great feature.

More sophisticated tools allow you to distribute tasks and responsibilities to specific team members. In addition, it gives you a clear picture of workload distribution and timing.

 Management of Project Activities

The management of assets is another basic feature of the main tools. This feature allows you to divide projects into larger goals and smaller tasks. You can add deadlines and budgets to this too. Finally, the most sophisticated software integrates the 'critical path.' It is the precise order in which the activities must be completed to ensure the project's development.

Collaboration and Communication

Effective communication is the key to any project's success. That's why it should be an integral part of your project management tool. Well-designed management software works as a combination center for fundamental data and insights. And this positively affects internal collaboration. 

Some tools facilitate the sharing of project information with clients. This can be handy. You can keep your clients updated on the progress of the project. You don't even have to schedule meetings with too tight deadlines.

Project Reporting

Reporting and statistics are two very effective ways to analyze your business thoroughly. You can learn from previous projects.

Why did a project go over budget?

Why was a deadline not met?

Budget and Project Resource Management

Some software offers a specific function for managing resources. This element provides an overview of available means. For example:

• Which meeting rooms have been booked,
• Which resources have been allocated and used, and
• How much they will cost.
• It is also useful for avoiding double bookings and reducing shortages.

Monitoring of Execution Times

The time tracking function can tell you all about timetables.

Which tasks were completed in the longest time during a previous project?

Which tasks used less time?

This allows you to better estimate costs and timelines for a future project.

Why PrismERP is The Best Project Management System for All Kinds of Teams?

PRrismERP offers you the best ERP management software for companies. It works on a project that allows the management of all aspects (technical, administrative, and financial) of the company.

With us, you can control all your processes in detail and increase their performance simultaneously. All thanks go to the ERP management system module for advanced project management: PRrismERP.

PRrismERP is aware of the specific needs of your company, in which aspects such as:

• Previous studies
• Budget generation
• Project planning (or works)
• Management of materials, works, and expenses
• Analysis thanks to ERP management software for Project management
• Specifications of each sector
• As a company that is managed by projects, planning is a fundamental factor. So that is why we offer you management software that allows you to manage projects efficiently. And that is 100% integrated with the ERP.

At PRrismERP, we rely on the best technology: Microsoft Dynamics 365 Business Central (Navision). 

The different solutions that make up the project management ERP management system facilitate for each project:

• Follow-up
• Assignment to the different actors
• Optimization
• Quick visualization of the financial status of each project.

Frequently Asked Questions

What Are Some Common Features in Project Management Systems?

Some of the most common features in a project management system are:

•  Project planning
•  Management of project activities
•  Collaboration and communication
• Project reporting
• Budget and project resource management
• Monitoring of execution times

What is the Primary Function of Project Software?

The primary function of project software is the planning of a project. Other than this, time management, budget allocation, communication, and reporting are some other functions.

Bottom Line

Keeping track of all the resources, stages, responsibilities, and team members involved in a single project can be complicated. Moreover, if you're working on multiple projects simultaneously, the pressure can get overwhelming. Fortunately, there are aids - project management software.