Among many project managers and executives, the feeling of having things under control is common: they are well aware of all the moving parts and pieces and they can keep a track of the deadlines. That is, until something gets missed. It happens all the time. Especially for small businesses that rely somewhat heavily on manual methods, the mistakes can be costly and send even the most clear headed manager into a tailspin.
Many small businesses try to run their organizations via email, text, or (worse) paper notes, leaving them open to failure, not to mention, project disasters. Success is in the details, and most often it’s the small details that make the biggest difference. For any given project, there are so many pieces to coordinate that it takes time, effort, and the right management solution to tie them all together. Businesses, small or big, need to begin relying on technology to streamline their projects and handle the easily forgotten details that are so integral for success.
Technology Drives Better Project Outcomes
Even in today’s tech-driven age it’s not hard to find companies that have blissfully kept themselves unaware of the benefits of technology. At least, that’s what a recent report indicates stating, “[S]mall business owners understand the value of new technologies, [but] they are still a bit overwhelmed and struggle with choosing the right time to adopt them to have the greatest impact on their business.”
Inability to most effectively drive projects is one of the many problems that tech-challenged businesses face. Technology largely influences the project’s speed and efficiency and it enables better project management by providing integrated information and data handling across project portfolios, human resources, and financial systems. Without it, tech-challenged businesses falter. Technology also helps manage multiple projects cohesively and with greater proficiency.
Working with Data Requires Tech Assistance
Data analytics provide real-time insights about the health of overall business operations, as well as individual projects. For instance, analytics can help project teams evaluate a project’s capability demands, opportunities, and actuals against long-term financial goals. A lack of proper data management hinders the execution and the outcomes of projects. In fact, technology is the foremost requirement when it comes to keeping all crucial project data at your fingertips.
Need more convincing? Here is a list of complications that may arise from a lack of proper data management during the course of a project:
- Highly diversified, scattered data increases the risk of duplication.
- Lack of transparency in monitoring an enterprise’s agreement with a required process can cause projects to stall.
- There is a greater risk of using different technologies for identical processes.
- Low quality process output may result, as no standard parameter is followed for data generation both internally and externally.
- Inadequate data centralization will require more time and energy chasing the data you need.
- Data security risks heighten as authorization or control over data access would be non-existent.
- Problems with governance and data ownership may arise.
- Complications related to privacy, legality, and regulatory issues of data cannot be avoided.
With problems like these plaguing businesses, a strong case is made for the adoption of technology to alleviate these risks.
Technology Improves Team Collaboration for Better Projects
The business landscape is fast becoming a hyper-connected space where collaboration plays a huge role. The right adoption of technology not only makes way for better collaboration among all the levels of an organization but it also makes meetings, interactions, and exchange of information quick and easy among teams, directly impacting the quality of project handling and its ultimate outcome.
Technology can tie together all the scattered pieces that are required to make a project successful while significantly reducing the chances of failure. Are you ready to adopt technology to better manage your projects? We’d love to address your concerns, should you have them.