The 7 most important functions of a project management software

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Project management software has become an indispensable tool for companies of all sizes. It helps teams collaborate, plan, track, and manage tasks and projects more efficiently. With so many project management tools available on the market, it can often be difficult to choose a system that meets your specific needs. In this article, we will introduce you to the seven most important functions of project management software that you should definitely pay attention to when making your selection.

1. Project overview and progress

A clear and structured overview of all company projects is essential to keep them on time and on budget. The software should provide real-time status updates, progress reports, and analytics to easily identify bottlenecks, risks, and opportunities for improvement. In addition, a visual representation of the project progress, for example using a Gantt chart, timelines or Kanban boards, helps to bring order to even the most complex project and to break it down into clear activities. Flexible project management software also gives you the option of adapting the interface to suit your needs and creating special fields, for example those relating to your industry, independently.

2. Task Management

One of the most basic features of project management software is task management. It should allow you to create tasks, assign them to team members, set deadlines, and track progress. A good task management system also allows you to create subtasks, set priorities and add comments to the tasks. It is also important here that the system can be adapted as well as possible to your requirements and working methods - software like 1Tool supports this, for example, by displaying "today's" tasks directly on the dashboard or by creating individual fields and dragging them to the desired location on the interface using drag-and-drop.

3. Cooperation

A project management tool should facilitate collaboration between team members. It should allow your employees to communicate with each other, share files, and provide feedback on tasks. Some systems, as well 1Tool, also offer the option of sending notes and important information as an e-mail at the click of a mouse or working on projects on the go via the mobile app and easily tracking changes. So everything happens in one place and your team works more focused than ever.

4. Resource Planning

Resource management is critical to ensuring you have the right people and materials to successfully complete your projects. The software should therefore allow you to allocate resources, set budgets and track expenses. It should also provide an overview of the availability and workload of the team members in order to avoid overload and to be able to better plan vacation times and cover in case of illness.

5. Time Tracking

Time tracking is necessary to know how much time is being spent on each task and to ensure that all team members are accounting for their hours correctly. The software should allow you to record the time manually or automatically, for example via Play & Stop. Smart project management systems like 1Tool also offer the option of defining different working time models and holiday entitlements for each employee in order to ensure correct recording of working times, overtime or absences.

6. Settlement

The automatic calculation of projects is also an important function that saves you a lot of time and effort. You can create total or partial invoices for your projects at the push of a button and always keep an overview of services that have already been paid or are still open. Some software, as well 1Tool, also allow the definition of individual payment terms for each customer, which are automatically taken into account when the invoice is generated.

7. Project controlling

Reporting capabilities are important for understanding project performance and communicating progress to all stakeholders. The software should therefore provide reports that display important, project-related KPIs. This gives you full control and transparency over hours worked, contribution margins, costs, etc. You can also see at a glance which activities are taking up the most time and can therefore optimize your future project planning accordingly.

So, with the right project management software, you can increase your team's productivity, streamline project delivery, and achieve better results.

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