Project management tools and approaches make project planning and management easier and more successful. They can be used for any project, regardless of the subject or industry. They save time and money when used in combination with project management software.
PMP Certification can help you get started in project management and offer you an advantage over the competition. Additionally, if you are planning to apply for PMP jobs, don’t forget to prepare for the PMP Interview Questions with Answers.
Here are some of the finest project management tools and practices that every project manager should be familiar with in order to govern and steer their projects for successful completion. Let’s start with project management tools and then move on to project management approaches that can be employed with them.
1) Gantt charts
Gantt charts are one of the most significant project management tools because of their versatility. Gantt charts can aid with project planning, scheduling, and tracking throughout the many phases of your project.
Gantt charts make it easier to create a project timeline. If you’re using ProjectManager’s online Gantt chart, all you have to do is add tasks and due dates to generate dynamic project plans. Then, by clicking and dragging items on the timeline, you can alter your project schedules as needed and link related activities.
Task dependencies can be connected in ProjectManager to avoid bottlenecks and downtime. To keep the project on schedule, project managers can automate deadline alerts. When the team updates their status, task management and resource management information is quickly reflected across ProjectManager, ensuring everyone is always on the same page. Start now for free.
2) Work Breakdown Structure (WBS)
A Work Breakdown Structure (WBS) is a method of breaking down work into smaller, more manageable parts. According to the Project Management Body of Knowledge (PMBOK), WBS is a deliverable-oriented hierarchical breakdown of the work to be completed by the team.
The Work Breakdown Structure (WBS) is a graphical representation of each task in the project. The end result appears at the top, with a line running down the page to a box (or boxes) representing the bigger tasks that led to that completed project. Each of these boxes is then connected to smaller activities by lines that run below it.
3) Risk matrix
A risk matrix is another important project management tool that every project manager should be familiar with. They are a simple tool that assists you in determining the likelihood and severity of potential project risks. You can track the impact of risk on the project if you have the ability to access it in this manner. This enables project managers to prioritise the risk and decide how to respond if it arises throughout the project. For these reasons, you should always utilise a risk matrix, risk log, or other risk management tools while planning your projects, regardless of the project management methodologies.
The acronym PERT stands for programme evaluation and review technique. It is a project management strategy that aids in time estimation. Scheduling is essential for completing a project on time and within budget.
So, how exactly does PERT work? It handles probabilities through the use of network diagrams and basic statistical approaches. PERT uses the WBS to break down tasks into particular activities, which are then added to a PERT diagram to identify interconnected activities. Based on that data, you create an illustrative map of the network of activities and their interdependencies.
Teams must be paid, and timesheets are a tool that assists with this process. Like any other job, timesheets are a technique to keep track of how many hours a person has worked in a given time, generally a week or biweekly.
Timesheets in project management do more than merely ease payment. They are used as project controls to record how much time a team member has spent on their specialised job, but they can also measure time on a project or for a specific customer. Timesheets can be used in various formats, including paper, spreadsheets, and software.
That concludes our list of some of the greatest PMP tools and techniques available for free in the market. Almost all of the above-mentioned programmes have free plans with limited functionality. If you want to use advanced features, you must join a paid plan.
Fortunately, almost all of these tools include a free trial period during which you can learn how to use the tool and explore its numerous features before investing formally in it.