Week 1 Home Work (1)

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Oct 30, 2023

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Running head: WEEK 1 HOME WORK 1 Week 1 Homework Sai Kiran Reddy Dudipala IST 7060 Project and Change Management Wilmington University

WEEK 1 HOME WORK 2 Introduction In recent years, the importance of project management has increased in all sectors of the economy and in virtually all countries. According to one study, there are approximately 15.7 million job openings in the project management industry, of which 6.2 million are already working in the United States. Time, scope, and budget goals should all be achieved through effective project management that satisfies the project manager (Schwalbe, 2016). All project managers are required to master 11 knowledge areas. To this end, project management techniques have been developed to increase manager productivity (Schwalbe, 2016). On this page, you will learn about the main goals and features of project management software. Functions of project management software: Using standard project management software has become easier than using traditional tools such as datasheets and spreadsheets. Using these tools has the following main advantages:  Ease of use Project Management: It used to take time to plan a project. Accelerate project structure and oversight by using these tools to set goals, assign responsibilities, and track performance. Project management software assigns reliable resources and creates dynamic time forecasts of completed tasks (Dennis, n.d.).  Proper resource management: Due to the importance of resource planning in a project, these tools can help you choose the right resources and decide whether to add them to your team (Dennis, n.d.).  Pipeline forecasting: Most project managers manage more than one project at a time, but this leaves them with no complete visibility into how each project is being developed. Project management software simplifies overviews and prevents errors (Dennis, n.d.).

WEEK 1 HOME WORK 3  Improved Team Collaboration: These tools allow everyone in the group to share information so they can communicate, track performance, and understand the connections between tasks, minimizing rework and focusing on timely deliveries.  Significant budget planning: This keeps your project expenses under control. The financial situation of the project is very clearly indicated.  Consistent up-to-date reporting: These tools make it easy to monitor project development at all stages and indicate whether the project is completed on schedule. Databases and spreadsheets are not enough to manage all your project data. This is because over 80% of spreadsheets contain errors. Therefore, Excel must be replaced to manage large enterprise projects. Users can easily retrieve data using project management software. PM tools allow employees to quickly and easily exchange data with other members of their team.  Efficient internal and external communication: There are some integration related activities. Teams inside and outside your organization can work more easily thanks to project management software. Customers can join external teams to monitor progress and provide input (Dennis, n.d.).  Improved Customer Service: The tool allows users to suggest potential future projects and keep buyers and sellers connected (Dennis, n.d.). Comparison In this paper, I would like to analyze and compare three different project management alternatives to MS Project. White Cloud, Asana and POMS are the three tools I want to talk about (project office management system). Asana is a mobile project management application,

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WEEK 1 HOME WORK 4 while POMS, White Cloud, and White Cloud are desktop project management tools. (Moira, 2017). Table 1 compares different tools based on their specifications and costs. Features Asana MS Project POMS White Cloud Size of a Company Any size Any size Any size Any size Framework Android, iOS, Mac OS, Windows, and web-based platforms Windows Windows and Linux Windows XP,2000, NT,98 Database Google Drive Sharepoint server 2021 configuration Firebird Oracle, Interbase, My SQL server Current Prices Free subscription to 10.99$ Free trial (30 days) to $ 520 one-time payment Free(unlicensed) to $180(licensed) $110 (personal) or $450(server)+ $45/use Table 1: Comparison of Software Tools Portfolio project management software: One of the most important criteria that distinguishes Best Effort from many others is return on investment (ROI). Project and portfolio return potential can be predicted using portfolio management software. Additionally, track project budgets, expenses, and labor costs. Capturing project ideas, resources, and value data is essential to building and maintaining a project portfolio that aligns with organizational goals. PMO team members can compile project

WEEK 1 HOME WORK 5 proposals and analyze evaluation results through the software. After researching new initiatives, score, approve, and create the most interesting leads. Decision makers can effectively and timely announce new business approvals using portfolio management platforms (Schwalbe, 2016). All businesses should consider variables such as user interface, pricing, customization and capacity before choosing project management software. Organizations seem to be more likely to select products when all criteria are met. At a minimum, our comprehensive approach to portfolio management ensures that we address the following factors: Make decisions first, continue spending, and execute exit strategies (Rakesh, 2018).

WEEK 1 HOME WORK 6 References Dennis Kayser. (n.d.). 8 Benefits of using a Project Management Software. https://blog.forecast.it/benefits-of-using-project-management-software Moira Alexander. (2017). The 7 Best Project Management mobile apps. https://www.cio.com/article/3203834/the-7-best-project-management-mobile-apps.html Rakesh Mehta. (2018). Enterprise Portfolio Management. https://www.projectmanagement.com/wikis/233532/Enterprise-Portfolio-Management Schwalbe, K. (2016). Information technology project management (6 th ed.). Sydney: Thomson Course Technology.

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