What is project management software?

Project management software is all about keeping projects on track and on budget. Helping project managers to work smarter, the primary features of project management software include project task management to set deadlines, assigning team members responsibilities, file sharing, and communications tools.

What is best-in-breed software?

This philosophy for selecting software vendors is an alternative to bundled software or closed ecosystems from one provider. The best-of-breed approach allows you to pick the software that best meets your business processes and integrates with the other software already in place to close any gaps in communication.

What are the key features of a project management tool?

A project management tool should have an intuitive interface that includes the following features: Real-time management of project status and budgets Tracking of tasks, time, and expenses for a project Resource planning for staff capacity Utilization rates for the project team Communication and collaboration features Integrations into your billing or accounting software Instant access into project reporting

How do you implement project management software?

Implementation will look different based on your company size. For help getting started, check out our PSA Software Buyer’s Guide where we cover the following steps: Start backward and establish your go-live date to set deadlines and expectations Meet with internal stakeholders to discuss pain points and must-have requirements Build the project team who will help evaluate vendors and change management internally Choose the vendor that best meets your project management methodology and requirements outlined Discuss phased roll-out approaches, project plan, and project risks

How do you manage a consulting project?

Successful management of a consulting project, even complex projects, comes down to following these 7 rules: Insight into project status and budget to inform stakeholders in real-time Create clear task milestones and dependencies Clearly define project goals and scope to set expectations up-front Build the best team based on skill and capacity to keep projects profitable Keep track of time, expenses, and budgets in one solution Rely on Gantt charts to spot any potential roadblocks and take corrective action Establish what KPIs and reporting features are vital to determining project success

Is Excel a project management tool?

Microsoft Excel can be used as a very simple project management tool to plan, chart, and measure progress. However, the user interface relies on a skilled user to create valuable project templates.

What is project management lifecycle?

The project management lifecycle for a professional services firm consists of 4 steps: plan for it, deliver it, bill it, and report on it. Going into more depth, this critical path includes establishing the project scope, building out the project team, creating a project budget, tracking time and expenses to the project, generating an invoice for the service, and getting paid.

What is a Gantt chart?

A Gantt chart is a common visual tool for planning out project tasks and deadlines to easily spot dependencies and track project progress. It displays a series of horizontal lines representing a task along a project timeline.

Who uses a Gantt chart?

Gantt charts are built to be a strategic framework that is applicable to any project. Commonly used among project management consultants, engineers, architects, and marketing teams.

Why is it called Gantt chart?

Henry Gantt was a consultant who needed a way to schedule and record work, so about 100 years ago he invented Gantt charts. Gantt set out to create something that would visually remind him of when project tasks needed to happen, and how they fell into the big picture of the project at hand. Thus, the Gantt chart was born.

PROJECT MANAGEMENT SOFTWARE

Centralize project data

BigTime’s Project Management software gives full visibility into project progress to ensure bottom-line success.

All project data in one place

Coordinate budgets, schedules, and project scopes for accurate project oversight
Visualize project timelines and milestones with Gantt charts
Automate notifications on review and approvals for submitted timesheets, expense reports, and invoices
Minimize delays and cost overruns with project tracking methodologies like the earned value model (EVM)

Tracking project status and billing utilization to date

Accurate project budgeting and forecasting

Set up tasks for each project and assign hourly, fee, and expense budgets to track compared to actuals
Manage project KPIs with customizable dashboards for easy progress tracking
Track PTO to understand the impact on project timelines and resource allocation
Make strategic adjustments with your full portfolio in view during in-flight projects
Access granular insights with robust multi-entity reporting capabilities

Visibility into your projects’ financial details

Get a detailed view of project costs, revenues, and profitability with an accrual-based project accounting sub-ledger
Track project expenses with VAT management, credit card upload, multi-currency reporting, and the ability to attach images of receipts
Use a multi-entity, multi-currency ledger accounting system to handle global subsidiaries and intercompany transfers
Remain DCAA compliant with robust timesheet restrictions and audit trail protections