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Project Management Software Ranking

Knowledge: The more projects a business undertakes, the more knowledge it will acquire over time. This will serve as an asset to any business and project management helps to capture and retain knowledge.Creates an opportunity for learning: Sometimes, projects work out perfectly and other times, project fail miserably. Either way, much can be learned from previous experience and past mistakes can be avoided in the future. Project management ensures that these lessons are learned and applied in the future.

There are numerous advantages to project management software. Project management has come a long way from a pencil, sheet of paper and a methodology to what is available today in our technologically advancing world.

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Evaluate Resources: An updated Skills Inventory should be maintained for all corporate (Business Unit and Information Technology Department) resources that are available for project assignment.Additionally, an inventory of available contract resources should also be captured. The purpose of this Skills Inventory is to understand the true capabilities and capacities of these resources.

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Rank Candidate Projects: When requested, all Candidate Projects that are in the repository should be objectively ranked in order of significance. The ranking criteria should include Target due dates, Impact on the total business, Impact on the technology architecture, Impact on other applications, Project size, cost and duration and Project risk.

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Project management is comprised of a number of essential and basic functions that add to its importance and which are enhanced by technology and project management software such as Sinnaps:

Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.

The key feature of this activity is recognizing that identifying candidate projects is something that an organization should do on a regular basis, not just once each year. Further, when examining projects for approval, it is vital to also examine the resource capacities and capabilities available for assignment. It is futile to assign a major new project requiring extensive discovery of business requirements if no business analysts are available. Project Identification proceeds Project Initiation.

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