Project management is the craft of managing different projects with improved productivity levels. Keeping a close watch on business performance and delivering the optimal outcomes to clients on time, form the central tenets of business profitability. Project management encompasses identification of requirements, setting of clear and practical objectives and finding the right balance between multiple stakeholders to achieve a uniform purpose.

Statistics reveal that one of the foremost business challenges that organizations face is the accurate capturing of time/costs against projects.


What are the characteristics of a good project management tool?

Project managers need technical competence to utilize the various functions of project management tools. Project managers who are certified through project management courses can improve project efficiency and foster collaboration throughout the various business departments. Here are a few aspects on which project managers should focus on.

  • Information relevance
  • Reliability and accuracy of information
  • Value factor of information
  • Optimal timing of information
  • Totality of information

To achieve project objectives, project management tools are immensely helpful to handle all business tasks in a single platform in an easy way. Nearly 77 per cent of all companies use project management tools/software.

Here are the top five project management tools that enable you to effectively balance competing priorities capably.


1)  Teamweek

This is an excellent tool when it comes to productively manage your time and needs. Project managers are empowered to visualize task in a set timeline, schedule projects better and assigns resources more efficiently.

Teamwork is an amazing tool for collaboration on time-bound projects which require a stepwise approach.


2)  Toggl

Toggl’s time tracking ability is a wonderful way to balance your daily work hours. This project management tool is perfect for freelancers and small businesses, as it provides for project categorization. Real-time reporting with visual data helps to export all your reports to Excel.

This tool has a user-friendly layout and provides for a versatile dashboard which improves total account management.


3)  Trello

Trello is a great business tool that helps your team to stay organized. Collaboration in work processes is achieved through this tool. This visual collaboration tool is generally used by agile software teams and other departments such as sales, marketing and HR.


4) Slack

This project management tool ensures proper organization of team conversations that happen in open channels. By making a channel for a team, project or a topic-everyone has transparent viewing access to everything that’s going on. It also provides integration functionality with other project management tools.


5) CoSchedule

This sophisticated tool is used by large businesses to stay on top of the marketing campaigns. This tool has features like easy document upload, social media update scheduling and real-time tracking of projects.


Bottom Line

The selection process of the right project management tools should be preceded by proper budget evaluation and analysis of project demands. No matter whether the project is small or big, using the ideal business management tool will empower you to achieve project success and enhance the levels of communication with your team.


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