Last updated on 16th June 2023
Whether you work at a large organisation or a fast-growing startup, project management is essential!
In Project.co’s latest communications survey, just 4% of businesses rate their efficiency as ‘excellent’, only 7% say their communication is excellent and only 9% say their business has excellent organisation.
All of these stats could be improved with good project management!
So, what are the benefits of project management? In this article we’re going to take a look at 13 of the biggest!
1. Increased efficiency
One of the biggest benefits of project management is that it can increase efficiency by helping you to keep on top of your workload, and ensure you never miss deadlines.
According to a survey conducted by us here at Project.co, only 11% of people have confidence that they never miss or forget tasks they have due – with a staggering 20% of people saying they miss tasks ‘regularly’.
But, when everything is laid out for you and readily available, it allows you to work faster.
Project.co has a ‘tasks’ feature that allows you to lay out all of your tasks for the whole lifespan of the project.
Each task can have a single or multiple dates, notes and files added. This is especially beneficial if multiple people are working on tasks at the same time, it means all information is in the same place.
2. Increased project success rates
In our 2023 Communications survey, it’s clear that communication is fundamentally important to business success.
Implementing project management can improve communication by giving employees and clients a place to communicate successfully, which can then lead to better quality work.
With project quality being improved, projects are bound to be more successful. Which can then have a positive effect on customer service and satisfaction.
This could lead to more projects being won if you can get repeat business or new clients from word of mouth recommendations.
3. More effective communication
Project management leads to more effective communication, not only between teams and employees but clients too. This is important as 12% of businesses say they’ve lost a customer because of poor communication.
With Project.co you can create a discussion page for every project. This is a dedicated section for conversations about the project you’re working on.
This lets you chat as a project team, reply to comments, add reactions and share files. All the things you need to do to communicate better on your projects.
This can be restricted for internal teams or clients can be added to the projects too.
4. Greater control over the project
94% of people say it’s vitally important that they know the exact status and next deliverable on a project or purchase. So, project management is especially important if you look after a team.
Not only to give your team everything they need, but to give you awareness of everything that’s happening, what’s been done, and what’s left to do.
Software like Project.co gives you this visibility, with features such as task views and notifications. So you can instantly see when things change, plus timelines, so you can see into the future of projects.
Features like this allow you to be proactive rather than reactive.
5. Improved time management
It’s much easier to manage your time if you manage your project effectively.
You can split your time between tasks, keep on top of deadlines and delegate work more easily.
Project.co has a ‘Time’ feature which allows you to track your own time, plus your team’s time. You can then compare this data project to project to see where improvements can be made.
For more ideas on how to improve time management, check out our article 5 of the BEST time management strategies.
6. Greater organisation
Organisation is key to a successful project. 53% of people have missed a message as a result of communication issues in their organisation.
So having everything in one place is important.
Project.co has a homepage for every single project, with shortcuts to notes about the project, project tasks and payment information.
7. More productive meetings
If issues or problems can be alleviated with project management, then meeting time can be used for more productive things.
This is important, as 60% of people say they regularly waste time in meetings.
Meetings of course can be helpful when necessary. But with the greater organisation and communication that good project management brings, meetings can be used more effectively.
8. Less stressful projects
Less stress is always needed and project management can help! Things that come with implementing project management, for example tasks lists, can really help. A massive 95% of people feel having a list of tasks to do each day is good for their mental health.
This is beneficial, because for people to do their very best work, they need to be in the right mindset.
Project management allows each and every team member to know where they are up to and what needs to be done, taking away an element of stress in one easy step!
9. Boosted morale
When everyone in the team is clear on their objectives and tasks for a project, morale will be up.
It can reduce tensions between teams, as everyone is better equipped for their work and project quality goes up.
Happier workers are said to create better work and are 12% more productive.
10. Clearer goals and objectives
With a great project management system, the project’s goals and objectives will become clearer.
And by defining the goals and objectives, the project is more likely to be successful.
You can do this by asking the client at the beginning of the project about their expectations, or setting your own goals before you get started.
Read more on how to set work goals in our article: Professional Goals for Work: 16 Examples.
11. Higher quality deliverables
You and your team should be able to do your very best work every single time. Project management tools can allow you to do this.
Adding features such as ‘Tasks’ or ‘To do lists’ will help your team know exactly when their next deliverable is due.
This is important because 94% of people say it’s vitally important that they know the exact status and next deliverable on a project.
Project management could also help you identify areas to improve, which can highlight skill gaps. These can be then rectified, which in turn can create higher quality deliverables.
12. Better customer satisfaction ratings
With higher quality deliverables, comes more satisfied customers. This then leads to higher satisfaction ratings which can improve your whole business.
Plus, if a client has a great experience with you due to amazing project management, they are more likely to want to work on another project with you.
13. Greater scheduling flexibility
If projects are correctly managed, you’ll know how many team members you need to be working on them at once.
Or if you streamline your process due to good project management you may be able to schedule more projects in.
Project.co’s scheduling feature lays all of your work out via date, which can be moved around by dragging-and-dropping.
All of the above points prove the benefits of project management and why you should start managing your projects more carefully.
At Project.co, we make everything visual and easy to navigate. When you invite clients they can log in, find projects, chat and collaborate easily.
To find out more or sign up for a free account visit Project.co.