Project Management practices are now a necessity rather than an option and having the right tools in place, such as an Engineering PPM Software solution is vital.
Large Engineering and Construction companies are experiencing increasing project volume tasks. Having a PPM Solution will help keep these projects organized in a way that is accurate, predictable, and up to date. This will immediately result in gaining better control and insights over their projects and programmes.
Someone within a company has to keep track of all processes, risks, issues, financial information, resources, and approvals to provide an easier decision-making process for those in charge. Why not have one centralized system which can hold and retain every action being undertaken within a project and programme.
It sounds logical right, but you would be extremely surprised as to the number of engineering firms that are using multiple tools to capture data against their projects and programmes. Without question, this can have a negative impact on completing your project on time and within budget.
With the number of projects in the engineering sector increasing Engineering Companies must begin to work smarter rather than harder.
Here are some reasons why your company should implement PPM software.
Financial Management
PPM software will allow the decision-makers to determine the work budget including cost estimates, forecasts, actuals, and commitment values. This is one of the most important items in controlling your project. This shows you where your money is being spent and allows you to monitor costs in real-time. A project manager’s goal is to keep the project within the budget to maximize the profit earned by the company.
Collaboration
Engineering companies are managing intense projects with a number of different stakeholders involved across multiple locations and time-zones. Collaboration can be difficult when teams are geographically dispersed. Team members are not only employees, but also clients, vendors, sub-contractors, and other third parties. Having a PPM solution can reduce time wasted searching for the relevant information. Effective communication, real-time, accurate data, and resource management tools are crucial to successful project delivery, all of which can be provided with the correct PPM tool.
Scheduling
It can be very difficult for your team members to stay within schedule without a proper system in place. Having a system in place can make it compulsory to hit timelines and milestones while having clear tasks in place. Having a PPM tool in place will allow members to stay on schedule as information is easily accessible and visible. Setting deadlines and priorities, along with scheduling, avoids misunderstandings and overlapping of tasks, schedules, and resources.
Reporting
PPM software gives you real-time access to work being completed. Having the ability to produce timely and analytic reports allows project managers to gain a better handle on their project portfolio. When there is no centralized system in place, it can be extremely difficult and time-consuming to generate these reports. Within large Engineering projects, there is generally a number of different stakeholders involved, having the ability to choose the information you show to the various audiences is vital. Having one centralized tool with all of the necessary information allows for these reports to be easily generated. In addition to this, Project management software platforms are usually equipped with the ability to draw up graphs and charts, allowing for visual representation.
A single version of the truth
PPM Software will help your company streamline project planning with a clear breakdown of tasks and deadlines to hit. It will allow you to manage your projects through one centralized suite, where delegating tasks, risks or resources can be done by the touch of a button. Project information can now be stored in one place which is easily accessible to all stakeholders working within the project, resulting in quicker and more informed decisions being made.
Having a better understanding of what’s happening on-site will enable you to regularly provide your client with clear reports of how the project is performing. Reducing oversights and preventing disputes is key. Having a satisfied client walk away with a smile on their face is one you will be sure to see again.
Work smarter, not harder.
As I stated above Engineers must begin to work smarter and not harder. Begin your journey by implementing an Engineering PPM Software tool to provide you with that one central system for that control and visibility you have always hoped for.
Learn more
If you’d like to find out more watch an overview of the platform at stg-corasystems-stage05apr23.kinsta.cloud/demos.
Alternatively, if you want to explore the topics mentioned above, and much more, download our complimentary guidebook “Cora Engineering – Connecting Strategy with Execution”. This guide, which also includes real-life examples, shines a light on some of the challenges you probably face. It then provides the specific engineering project solutions you need to address them.
