Category: Project Management System

Top 6 Things to look for in a Project Management System

Top 6 Things to Look for in a Project Management System-Introduction

As a project manager, you constantly look for ways to streamline your workflow and make your life easier.

One of the best ways to do this is to invest in a good project management system. With so many options on the market, it can be hard to know which one is right for you. That’s why we’ve put together this list of the top 5 things to look for in a PMS.

By the end of this article, you’ll know exactly what to look for when shopping for a PMS. So without further ado, let’s get started!

What Is a Project Management System?

A project management system is a tool used by businesses to plan, execute, and track the progress of projects. It is a critical component of any effective project management strategy, allowing businesses to optimize resources and track progress against milestones.

There are many different types of PMS available on the market, each with its distinct features and benefits. When choosing software for your business, it is important to consider your specific needs and requirements.

What Are the Benefits of Using a Project Management System?

When it comes to project management, using a system is key. Why? Because a system will help you stay organized and on track. There are a lot of different project management systems out there, but the one that’s right for you will depend on your specific needs. There are many benefits of using a project management system, including:

  • Improved communication and collaboration between team members
  • Better visibility into the status of projects
  • Increased efficiency and productivity
  • Reduced risks of errors and missed deadlines
  • Improved customer satisfaction

How Can a Project Management System Help You Be More Productive?

Imagine this: you are in the middle of a project and realize you need some extra resources. With a project management system, you can quickly and easily get those resources added to your project.

Lack of a project management system you would have to track resources and tasks manually, requiring you to spend more time on

    • It can help you manage your time more effectively by providing features like task lists, calendars, and reminders. This can free up time that would otherwise be spent on administrative tasks and allow you to focus on more important matters.
    • A project management system can help you keep track of progress and ensure that deadlines are met. This is especially helpful when working on large or complex projects with multiple team members. By having all the relevant information in one place, you can avoid confusion and wasted time.
    • It can improve communication between team members. This is essential for coordinating tasks and ensuring everyone is on the same page. By using a system to share files and communicate electronically, you can avoid misunderstandings and save time.

Overall, a project management system can be a valuable tool for increasing productivity. By helping you manage your time, track progress, and improve communication, it can make it easier to get work done and meet deadlines.

Read out blog on  Project Management Trends in 2022

What Are the Top 6 Things to Look for in a Good Project Management System?

When it comes to project management systems, there are a lot of different factors that you need to consider. Here are the top things that you should look for in a good project management system:

  1. Ease of use

The project management system should be easy to use and understand. It should have a user-friendly interface that makes it easy to navigate through the different features and functions. The system should also be able to handle large projects with many different tasks and subtasks.

  1. Functionality

When considering a PMS, it is important first to consider the functionality of the system. There are a few key things to look for in a good project management system:

    • The ability to create and manage projects: It should allow users to create and manage projects efficiently. It should have tools for tracking project progress, assigning tasks, and managing deadlines.
    • The ability to collaborate with team members: It should make it easy for team members to communicate and work together on projects. It should have file sharing, task assignment, and commenting.
    • The ability to track performance: It should have features that allow users to track the performance of individual team members. This can help identify areas of improvement and ensure that everyone is working towards the same goal.
  1. Customer Support

When it comes to choosing a PMS, customer support is critical. You want to be sure that the company you’re working with has a dedicated team of customer support experts available to help you with any questions or issues you may have.
The best way to determine if a company has good customer support is to read online reviews and testimonials. Look for companies that have a high satisfaction rating and positive feedback from their customers.

  1. Integrations

When considering a PMS, it’s important to consider the available integrations.
A good project management system should be able to integrate with other systems that your business uses daily. This could include your accounting software, CRM system, or email client.
By having a system that can integrate with these other systems, you’ll be able to save time and streamline your workflow.

  1. Scalability

When considering a PMS, it is important to consider its scalability. A good project management system should handle increasing projects and users without becoming overwhelmed. It should have the ability to add new features and functionality as needed.
A scalable project management system will save you time and money in the long run. It will help you keep your projects organized and on track, even as they grow in scope and complexity.

  1. Price

The price of a PMS is an important consideration for any business. There are a number of factors that should be taken into account when choosing a plan, including the features offered and the company’s reputation.

The price of a PMS can vary depending on the features offered. Basic systems may be less expensive, but they may not provide all of the features that more expensive systems do. It is important to consider what features are most important to your business before making a decision.

Read out the blog Benefits of using Project Management System in Startups & SME

How to Choose the Product for Your Needs

There are a few key things you should look for when choosing a project management system for your needs,

    1. The PMS is compatible with your devices.
    2. It has all the features you need.
    3. It’s easy to use.
    4. It’s affordable.
    5. It’s reliable.
    6. It’s been tested by other users.
    7. The company is reputable.
    8. Ask for a demo before you buy.
Why Choose Juntrax 

Juntrax provides the most complete and user-friendly PMS on the market. This system saves you time and money while streamlining your project management processes.

Some of the key features include:

    • A user-friendly interface that is easy to use and navigate
    • A comprehensive set of tools and features to help you manage your projects
    • A wide variety of reports and dashboards to help you track your progress
    • A flexible pricing model that allows you to pay for only the features you need

Whether a small business or a medium enterprise, Juntrax has the tools and features you need to manage your projects effectively.
Contact us today to learn more about how Juntrax can benefit your business or organization.

Three Project Strategies Your Company Must Follow To Succeed.

Project tracking is a good idea for any project or goal. It is essential to know how much time you’ve spent on who your teammates are, what the project is about, and how many hours it will consume. Project tracking helps you plan for the future when you know what needs to be done and when. It also lets you keep track of feedback from your clients or other people involved in the project so you can stay current with their requests and needs.

There are various ways to make a project chart like this: pencil and paper, Excel spreadsheet, Visio diagrams, or even just an Excel scatter plot chart that needs to be tied down in a neat grid format. However, none of those solutions are as versatile or portable, and none can be accessed with a wide range of devices and operating systems. To make the most of your project tracking needs and get the most use out of your time, it’s best to use a cloud-based platform that can be accessed anywhere at any time. But before hopping in, let us understand what project tracking is and how it has made lives easy.

What is project tracking?

We’ve often seen the question, “How do you know what project to work next?” and we have the answer. Project tracking is a system that helps us prioritize projects by allocating our time and resources only to have one project at a time in progress. This means that you can track both revenue and expenses every week, which calculates how much money is left in the budget so that we can then determine how much of it should be allocated for future projects with similar or better profit margins. This allows you to see what projects will yield future profits and which are not worth pursuing any further.

Project tracking helps us keep track of budgets, deadlines, and the general status of each project so that we can be aware of what’s going on at any given time. It is important to note that you should track your project’s financial information and find a way to track the project’s time spent and errors and bugs in the website/app. This will give you an accurate account of how much time and resources were spent on each project, how much money is left after all expenses are paid, and how much profit was made from all of these projects. Before reading the strategies, let us take a quick look at the benefits of project tracking.

Benefits of project tracking:

Time management:

This is one of the most critical aspects of project tracking. If you track only a few projects simultaneously, it’ll be easy to manage the amount of time allocated for each project. Tracking dozens of projects at a time manually could be tedious and time-consuming. There can be chances of many projects overlapping, mainly impacting the workflow.

Time assigned to different projects: 

Some tasks are more critical than others; tracking how much time we devote to each one will help us figure out which ones are worth doing first and which we should focus on next

Accurate P/L: 

Analyzing accurate P/L is the foundation of any business, and project tracking helps us know what each project could make in revenue. If you know how much time and resources are spent on each project, deducting the profit percentage from the time and resources invested will be easy.

Accurate expense:

Accurate expenses are also crucial for a business’s operation. As mentioned earlier, costing out each project aids in assessing the profit generated from the invested time and money. Analyzing the time and money invested enables the determination of each project’s profitability.

Savings in the long run: 

Calculating profit margins for various projects assists in determining future budget allocation for similar projects. Additionally, it aids in budget monitoring and adherence to financial boundaries established by the CFO or assigned team member overseeing business expenditures.

Budgeting: 

Project tracking helps us determine the best way to manage finances and budgets, especially when they are in flux or under constant change. This can happen when a manager changes or if different business areas need more funding. Even though some managers prefer to keep costs down, this sometimes puts other parts of the company at risk.

Trend analysis: 

By tracking multiple projects, we identify profitable endeavors worth pursuing further and those not yielding profits. Analyzing trends helps determine project costs in time and resources, providing accurate profit vs. expense breakdowns.

What is the best way to track projects?

Over the years, we have found that there are different ways of tracking projects. The key is to consider what stresses you will be under and how much time you want to allocate to each project. You can do this by using different types of project tracking tools. For example, Zoho, Scoro, Juntrax, Monday.com, etc., are fantastic tools. The advantage of each software is that they have different functionality. For example, with Juntrax, you can list all the active projects, their team members, billing rates, and tasks on one screen.

Some of the most common ways businesses use are:

  • The Pomodoro Technique: One of the most popular time management techniques, it is also one of the easiest to implement. It involves working for 25 minutes and taking a 5-minute break. It is perfect for those who have a lot of tasks to do in little time, with no stress or pressure to perform. This will make you more productive, and it’s straightforward to follow.
  • The Eisenhower Matrix: If you don’t like the Pomodoro Technique, this technique is proper for you. The Eisenhower Matrix analyses your tasks and places them on a matrix. This way, you can mark the priority level as high, medium, or low. The objective is to get important things done first. This matrix strategy is appropriate for those who have many tasks but are under pressure to complete them quickly.
  • Henry L. Gantt designed the Gantt Chart, enabling a comprehensive view of project management. Utilize this chart for small projects within set timeframes, aiding in stress-free and efficient tracking.

Also Read: How Workflow Automation reduces employee burnout and stress?

Three project tracking strategies to get more Business

Tracking projects is necessary for any professional services company. There are many approaches to this, with varying levels of complexity and functionality. To help teams stay organized and avoid late-night story time, here are some strategies:

  • Workflow automation: 

Workflow automation is a game changer in achieving project efficiency. Rather than manually creating tickets for every task and monitoring each access’s progress. Ticket automation can save time and create a more efficient workflow.

Workflow automation can take many forms. JIRA is a bug-tracking software that enables the creation of workflows. This can come in handy if the project has multiple teams and members. Juntrax has timesheets to monitor projects and keep records of time taken by employees. 

  • Mobile Application: 

It is necessary to have a mobile application to track time and projects quickly. Having a dedicated mobile application will increase productivity, as you can easily access the system anywhere without a laptop. It is a perfect solution for all the people working remotely to connect with the teams. It also keeps all members on the same page. Employees can easily track due dates and update timesheets for you to glimpse easily.

  • Effective communication:  

One significant contributor to a successful business is efficient communication. Especially today when companies follow a new hybrid model. Everyone must be clear about the goals and responsibilities of the business. Accessible communication is possible when you have the right tools to support it. Tracking tools help a lot in bringing transparency to the company. You will save time and energy with the right tools regardless of your project management style.

Choosing a platform is another challenge. Plenty of free services are available if you have a few projects at once. However, if you have more than one ongoing project at a time and are doing actual work for profits. It’s worth paying for the service. Juntrax’s services are free of cost if you are a small-scale company with less than ten employees. Apart from this, Juntrax is a one-stop platform for all your business needs. You can create timesheets, manage workflow, generate payslips, create automated invoices, and manage onboarding all in one place.

 

Track Project Cash Flow with Accuracy Using Juntrax

Introduction 

Project cash flow tracking has become an essential tool for business owners and managers as they strive to manage their finances more efficiently. However, many organizations need help to accurately track project cash flow since the data can be voluminous and complex. 

Juntrax is designed to make tracking project cash flow more manageable. By automating data collection from various sources, Juntrax helps organizations track their progress and stay on top of their financial situation.

Monitoring project cash flow is critical to the success of the project. There are many ways to track cash flow, but the most important thing is consistency. This will allow you to see trends and make adjustments to keep the project on track.

It is crucial to be able to track the cash flow of a project. This allows you to predict if a project will go over budget. It also allows you to track how much money is spent on a task. This is essential to ensure a project stays on track.

Let us define project cash flow and then discuss project cash flow management.

What exactly is projecting cash flow?

The Project cash flow is a distinctive feature of project management. It provides insight into the efficiency of the performance of both cash inflows and outflows. The Project cash flow also helps to predict your profitability in the coming years.

Project cash flow management is an essential tool in project management, allowing the manager to analyze better and track their projects’ progress. Project cash flow management is critical for businesses of all types. 

Understanding the concept can help you better manage your company and make more informed business decisions. Juntrax has created an integrated solution to help you know Project Cash Flow and how it relates to your business. 

Project Cash Flow matters for a couple of reasons: First, without it, keep your project afloat and avoid shutting down. The second reason is that by increasing the scope or scope of work, your business can earn more and sell more products. 

How do you calculate a project’s cash flow?

Project management can be complex and time-consuming. Using Juntrax, you can bring your project management to the next level by tracking the cash flow of your projects.  With our Project Cash Flow feature, you’ll see how each task, project, or unpaid work will affect your cash flow once completed.

As a project manager, you must know the best way to keep track of your projects’ cash flow to ensure everything is running smoothly. This involves tracking your projects’ cash flow. This requires accurate records that can be used for billing and accounting purposes. This lets you know when your assignments start earning money.

Calculating your project cash flow can seem like a complex business endeavor, but it’s not that complicated. A small change in how you calculate your project costs and revenues can significantly affect how much money you make during your business. This applies to every business venture you undertake – selling products online or producing music as an artist. The same factors that determine cash flow for a company also apply to individual businesses.

You can calculate your project cash flow using a simple formula: the cash a project generates − the expenses it incurs. To get an accurate estimate of what you can expect from a project, you must understand both the cash generation and its cost.

How to Track Project Cash Flow with Juntrax

You’ve got a business. You’re busy, and there’s a lot of work to be done. But how do you know if you’re spending your money wisely?

Tracking Expenses

  • Tracking your expenses is one of the most important ways to keep a project on track. 
  • It is a great way to keep your business running smoothly and stay on top of any changes to your cash flow that occur from time to time. 

Timesheet

  • You could use a timesheet. 
  • A project’s timesheet is a chart that shows each team member’s workload, allotted hours, and the number of hours left on each project activity. 
  • Else you can even try tracking your invoices manually.

However, you can’t always rely on it. Many people find that using an app or website makes tracking their spending easier, staying organized, and ensuring they’re getting the most out of their money.

And many different apps can help you do it—so we’ve put together a list of our favorites!

  • Platforms for cloud accounting, such as Juntrax, may save all of your invoices in one simple location, provide you with a quick summary of your income, and notify you when any billings are past due.
  • Tracking expenses is an integral part of managing a project’s finances, but it’s also one that many people overlook. What you don’t measure, you indeed can’t work.

But don’t panic; we have some tips to get you going.

You need to start with the correct categories. 

  • Firstly, consider these two: office wages and supplies. These two categories should cover all of your business spending needs—and if you keep them separate from other categories, it’ll be easier to track and understand how much money is spent on each item.

  • Once you’ve got your categories down, make sure they’re organized into subcategories like “office wages” or “supplies.” This will help you track where that money goes and how much can be considered profit or loss for each category.

  • It might be time to upgrade if you’re still keeping track of costs using spreadsheets and putting receipts in a file cabinet.

Many cloud-based software solutions make expense tracking easy and intuitive.

Choose the best cloud software to ease your spending tracking.

Create a cash flow report and compare the project billing to the employee timesheets.

Wave farewell to manual entry by simply logging onto your bank account.

Create digital invoices and purchase orders, manage payments, and send reminders to make payments.

Conclusion

The need for accurate project CF has never been greater. You see, cash flow is the lifeblood of your project, whether it’s enterprise consulting or a small startup. It helps you drive more mileage per project by keeping your projects afloat. Unfortunately, some SMEs don’t fully understand this until it’s too late—when they no longer have the cash to cover their bills.

When you’re deep in the trenches of a project, it can be easy to lose track of some of these details and metrics. Juntrax simplifies this process by easily tracking project costs and cutting back on errors from a mismanaged budget. 

Juntrax features a robust timesheet system that allows both the employee and the employer to access data in a tabular format. Give Juntrax a try today and see how accurate its tracking capabilities are!

Project Management Trends in 2022

Project Management Trends in 2022 – Introduction

The corporate industry is changing with every passing second and so are the Project Management Trends in 2022. 

The industry is evolving with the help of innovations and technology. The arena of Project Management is not aloof from these changes. Project Management has gone through numerous transformations that have paved the way for a more effective and convenient work discourse in the past few years.

In 2022, managers from the industrial world have analyzed different Project Managements practices and filtered the ones that prove to be the most convenient.

In this article, we will discuss such trends that have made a mark as the Project Management Trends in 2022.

Inclination towards remote work system

The pandemic managed to strike every business avenue to its very core. Offices closed overnight, and the world went into lockdown. This is where the custom of remote work became prominent. Companies opted for systems that could manage employees from different geographical corners and provide them with an integrated online platform.

Project Management tools like Juntrax proved to be the savior for companies trying to sustain themselves. These Project Management Tools are cloud-based and therefore empowered employees to work in a remote setup. Numerous corporate ventures shifted from offline office mode to a well-structured cloud-based workspace.

Cloud-based project management tools provided a collaborative platform where teams could easily communicate and share their work. It diminished work limitations based on network and location restrictions. Inclination towards remote work systems is amongst the most common and productive Project Management trend in 2022.

You may also like to read : Benefits of using Project Management System in Startups & SME

A hybrid approach to Project Management 

The traditional ways of manual Project Managements might turn out to be tedious, but there are many processes that still work best when performed manually. To build a proper balance between the traditional and modern methodology, managers figured out a hybrid approach to Project Management.

The methodology also keeps in mind the subjectivity of employees belonging to different age groups, experiences, and educational backgrounds. A hybrid approach allows them to learn something new while holding on to their preferred work style. It, therefore, enables different viewpoints, ideas, and work methodologies to combine and yield an active and potential workspace.

You may also like to read : Top 10 HR Trends in 2021

Importance of Mental Health

Over the years, companies in the corporate sector have finally addressed the importance of Mental Health. The past year has taken a massive toll on employees’ mental health as a result of the pandemic, health concerns, constant fear of the virus, and the monotony of staying in seclusion and working alone.

Managers have agreed that managing a project is far more than simply assigning roles and allocating a budget. Therefore, they work on enhancing their employees’ work experience by assisting with regulated work-life balance.

Companies also pay attention to organizing seminars, feedback sessions, and group discussions to ensure that every aspect of their workspace, right from the technicalities to the vibe and work environment, promotes positivity, comfort, and a healthy work system.

Focus on Data Analytics and Research

Companies turned to data and analytics to enrich their project strategies. Data insights from the market and the company’s past performance provide information that guides the team to make informed decisions and implement their actions in a calculated manner. Many companies have even assigned independent teams to collect analytics and put together research that can help their business stay ahead in the market.

Automated Project Management Tools

Automation has been the choice of 2022. A remote and flexible work environment allowed companies to get an insight into software solutions like Juntrax that provide automated assistance for monitoring, updating, storing, and calculating client information, work progress, and other vital data related to the project.

It also has features for employee self-service, which further enhance the overall user experience and reduce the burden of manual management. Right from calculating attendance to administering an integrated data portal, automated Project Management Tools have made their place in the list of Project Management Trends for 2022.

Significance of Soft Skills

Project management is a multi-dimensional task that requires active communication between the team, the company, and the client. Maintaining healthy and professional dynamics pertaining to communication is an important task.

The significance of Soft skills has been highlighted over the years and continues to stay in trend. Effective communication is an attribute that every employee must learn. It helps them communicate their ideas in the best possible way without demeaning others or sounding unprofessional.

The balance between confidence, articulation, politeness, and professionalism is what soft skills are all about. Even while hiring, companies are looking for individuals who have both technical and communication skills.

Conclusion 

Good Project Management directly leads to better work performance of the employees and the company as a whole. 2022 has been symbolic of numerous transformations that the corporate industry went through. Digitization and automation proved to be excellent methods for businesses to reach a wider audience, work at a diverse spectrum and lower their logistic costs.

Cloud-based Project Management Software like Juntrax topped the charts for their unparalleled assistance, prompt functioning, and various tools that upgraded businesses’ work quality and decorum.

 

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