Project Management Software and Tools
My first exposure to a desktop project management software for a special project. The interface left me highly impressed and I thought I was doing ‘something very different.’ I could not imagine something called Online Project Management Software then.
Fast forward to 2021.
Age of a global project economy.
Businesses have been ‘projectized’ – most of the work are run as projects with a disciplined focus on scope, quality, schedule, cost, business value, and customer satisfaction. With the growth of the project economy, the demand for project portfolio management software (PPM Software) is estimated at USD 5.6Billion by 2025. (Source: www.marketsandmarkets.com )
Here is an outline of this blog.
- The Projects Landscape Transformation
- The Evolution of Project Management Software
- What do most of the Project Portfolio Management Software focus on?
- How should leaders approach while collaborating with Online Project Management Software Company?
- What is the design strategy of TouchBase Online Project Management Software?
- TouchBase Core Solutions
- What are TouchBase Online Project Management Software capabilities?
- What are the key differentiators of TouchBase Online Project Management Software?
- How does TouchBase Online Project Management Software impact customer’s business?
- What is the mission of TouchBase Online Project Management Software?
- An excellent software needs a flawless execution!
- TouchBase Modules
- Closing Comments
1. The Projects Landscape Transformation
The nature, complexity, and size of projects underwent a sea change – a quick comparison is reflected in the table below.
|Projects Pre-2000||Projects 2000-2020 & Beyond|
|Reasonably clear scopeHigh levels of project certaintyLocal projectsCollocated project teams||Significant advancements in technologyOutsourcing and global delivery modelsMulti-million-dollar projectsIncreased ComplexityHigher levels of uncertainty|
2. The Evolution of Project Management Software
The evolution of project management software has happened in two broad ways.
- Desktop to Online and to Cloud Project Management Software
- Schedule (Gantt Charts) and Resources to an End-to-End Solution
- It is important to note that these two shifts have not been sequential, rather in parallel.
3. What do most of the Project Portfolio Management Software tools focus on?
Unfortunately, even today, most Web-Based PM Solution do not focus on a holistic solution to manage projects and have led to key business challenges.
- Not appreciating the diversity of projects across industries – professional services, pharma, FMCG, etc.
- Focus on features, and functionalities rather than ‘solutions’ to ‘project management problems.’
- Restricting PPM Software to scope, schedule, resources, costs, with a dash of documentation, collaboration, dashboards, and reports – dubbed as ‘analytics.’
- Failing to recognize the importance of integrating projects with engineering, procurement, finance, product development, and organizational business processes.
4. How should leaders approach investments in any Online Project Management Software?
When business leaders think of collaborating with a project management software company (for that matter buying any product or service), we believe that the decision-making approach should address the following dimensions.
- What is the software/product design strategy?
- What are the capabilities (features and functionalities) of the software?
- What are the key differentiators of the software?
- How does the software / product impact the customer’s business?
- What is the mission (behind the software) of the software provider?
Let us review each of them in detail.
5. What is the design strategy of TouchBase Online Project Management Software?
Armed with deep and diverse experiences, the management team at ProductDossier unearthed critical insights about projects and programs.
|Project Management Insight # 1||Project Management Insight # 2|
|Projects generally fall under three broad categories||Uniqueness of projects stems from –|
|External Customer-Oriented: These projects go through a cycle of creating proposals, cost estimation & margin calculations, contracting, project scheduling, cost estimations, resource allocation, procurement planning, tracking deliverables, billing invoices, managing risks, project documentation, customer acceptance and closure.New Product Development (NPD): While the process is specific to products (pharma, FMCG, etc.), in general, these projects involve new idea evaluation, manufacturing feasibility, competitor analysis, benchmarking, business case creation, funding approved ideas, project team formation, procurement planning, formulations, trials, developing prototypes, updating business cases, finalizing the product launch, and tracking actual revenues vs. forecast.Internal Initiatives: These projects go through business case creation and evaluation, capital expenditure funding, defining scope and schedule, resource planning & allocation, cost estimation & budgeting, tracking deliverables & costs, project delivery, and closure.||Industry-Specifics: Professional Services, Engineering & Manufacturing, Pharma & Life Sciences, and EPC (Engineering, Procurement, and Construction)Organization-Specifics: Project Importance, Project Complexity, Approaches, (Predictive, Agile, and Hybrid), Business Processes, Templates, Checklists, Reports, and Analytics, and Systems Integration – ERPs, CRMs, CAD/Engineering, HRMS, etc.|
6. What is TouchBase Online Project Management Software?
At a high-level TouchBase IS:
7. What are the key differentiators of TouchBase Online Project Management Software?
There are many features and functionalities that are available in most Project Management Tools and even Task Management Software – they are now considered a hygiene factor. In this background, it is vital that we review the USPs or Key Differentiators of TouchBase Project Management Tool.
Key Differentiator # 1: TouchBase is specifically configured for:
- Your industry
- Your project-type
- Your project approach – predictive, agile, hybrid, etc.
- Your business processes (business process automation), workflows, templates, checklists, documentation, metrics, and dashboards
Key Differentiator # 2: In addition to scope, schedule, and resources (some even say it as project scheduling and costing), TouchBase is an end-to-solution that addresses:
|FinancialsSupply Chain ManagementSkills & CompetenciesBusiness Process Automation||Engineering & CADNew Product Idea EvaluationQuality & DefectsKnowledge Management||Business CasesNew Product DevelopmentAuditsRisks & Issues||Inquiry & ProposalsMaster Data Mgt.Asset Mgt.Documentation||Employee Self-ServiceMobile AccessSocial Collaboration|
Key Differentiator # 3: Seamless Integration with other Enterprise Applications (or Enterprise Integration)
- ERPs – SAP, Oracle
- CRMs – Salesforce, Microsoft Dynamics
- Accounting – QuickBooks, Tally
- Engineering – AutoCAD
- HRMS – SAP, Oracle, Others.
Key Differentiator # 4: Minimal Customization
About 95% of customer needs are configurable in TouchBase leaving with a less than 5% for customization. This leads to faster deployment, lesser customization costs, and quicker value realization.
Key Differentiator # 5: Digitized Project Landscape
TouchBase completely digitizes the entire project and portfolio management practice and thereby sets the stage for ‘one version of truth’ that drives data-driven decision-making.
8. TouchBase Core Solutions
TouchBase is designed as three core solutions that are aligned with the nature of the project as well as the industry as depicted in the graphic below.
Let us get a deeper understanding of TouchBase Core Solutions.
TouchBase Opportunity-to-Cash (O2C) Capabilities
|O2C Phase||TouchBase Capabilities|
|Pre-Sales||Lead generation and lead qualificationCustomer inquiryCustomer proposalsPurchase Order (PO) / Contract Creation – Fixed Price, T&M, Cost-PlusAssociate Multiple POs to One Project or One PO to Multiple Projects|
|Project Initiation||Revenue PlanDevelop Budgets (Resources, Materials, Overheads)Financial MilestonesCash Flow AnalysisResource Requests|
|Project Planning||Work Breakdown StructureSchedule, Milestones, Critical Path Analysis, and Schedule BaselineProject Management Approaches: Traditional, Agile, Fixed Bid, Ticket-BasedResource Allocation & UtilizationQuality Metrics & DefectsKnowledge ManagementProcurementRisk Identification, Risk Assessment, and Response PlansMeetings & Minutes|
|Project Execution||Technical Reviews & DefectsBaseline Revisions & ComparisonProject ProgressComprehensive DocumentationVendor Payments, Customer Receipts, Timesheets & ExpensesDashboards & ForecastsPredictive Analytics, Alerts & NotificationsTeam CollaborationRegulatory Compliance|
|Project Closure||Acceptance DocumentationCustomer InvoicingLessons LearnedProject ArchivalCustomer Satisfaction|
TouchBase Idea-to-Launch (I2L) Capabilities
|I2L Phase||TouchBase Capabilities|
|Idea Capture||Streamlined New Ideas GatheringCreate & Manage Idea Funnel|
|Idea Evaluation||Define Evaluation ParametersTechnical FeasibilityForecast Revenue and Develop BudgetsPrepare Business CaseCross-Functional Team FeedbackBenchmarking and Competitor AnalysisApprove Ideas|
|Development Planning||Product PlanningProject Set-UpProject Management Approaches: Traditional, AgileWork Breakdown StructureSchedule, Milestones, Critical Path Analysis, and Schedule BaselineResource Allocation & UtilizationProcurementRisk Identification, Risk Assessment, and Response PlansMeetings & Minutes|
|Execution & Control||Product PerformanceBaseline Revisions & ComparisonProject ProgressComprehensive DocumentationDossiers (for Pharma)Financials, Timesheets & ExpensesDashboards & ForecastsPredictive Analytics, Alerts & NotificationsTeam Collaboration|
TouchBase Request-to-Completion (R2C) Capabilities
|R2C Phase||TouchBase Capabilities|
|Capture Requests||Streamlined RequestsTemplatize Request CreationCreate & Manage Request|
|Evaluate Requests (Projects & Programs)||Define Evaluation ParametersForecast BenefitsAnalyze Cost BudgetDevelop Business CaseEvaluate & Approve Requests|
|Program / Project Planning||Program / Project Set-UpProject Set-UpProject Management Approaches: Traditional, AgileWork Breakdown StructureSchedule, Milestones, Critical Path Analysis, and Schedule BaselineResource Allocation & UtilizationRisk Identification, Risk Assessment, and Response PlansMeetings & Minutes|
|Execution, Control, & Close||Program / Project DeliverablesMonitor Program / Project ProgressComprehensive DocumentationPlanned vs. Actuals: Benefits & CostsDashboards & AnalyticsBenefits RealizationLessons LearnedPredictive Analytics, Alerts & NotificationsTeam Collaboration|
9. How does TouchBase Online Project Management Software impact customer’s business?
Strangely, customers get lured by features and functionalities of software!
Features are important; however, more than just the features, business leaders must focus on what the software delivers. Customers no longer buy product features, they are buying ‘value’!
Elements of Value
- A digitized project management landscape
- A single version of truth
- Data-driven decisions to add business value
The proof of the pudding is here!
Based on numerous successful global implementations, TouchBase Online Project Management Software has positively impacted business as seen in the numbers below.
- 2% – 5% Increased Project Profitability
- 10% – 25% Faster Product Launches
- 80% + First Time Right
- 1% – 5% Savings by Cost Control
- 10% – 40% Improved Productivity
10. What is the mission of TouchBase Online Project Management Software?
To be successful in this project economy, organizations must consider a cultural shift to manage their projects and programs.
At the foundation, companies must develop a set of project management related norms, values, and behaviors.
Enterprises must then build a robust project management structure that includes systems, methodologies, and business processes.
11. TouchBase – Flawless Execution
An excellent Web-Based PM Solution like TouchBase needs to be backed by a flawless execution so that organizations benefit from the impact that they are designed for.
In the context of a software implementation, the TouchBase delivery team has a unique model of execution.
The phase-wise view of the execution model is presented below.
Characteristics of the TouchBase Execution Model
- Collaborative Requirements Definition
- Build a Deployment Culture
- Phase-Wise Deployment
- Agile Mindset
- Swift Value Delivery (2-4 Months)
- Hyper Care: Post Go-Live
- Support Portal: Post Go-Live
12. Let a world-class Web-Based PM Solution transform your project management culture!
13. God is in the details – let us do a deep-dive into TouchBase Modules!
TouchBase Online Project Management Software is modular in design and organizations may choose based on their business needs. Another important dimension is that organizations may scale up with additional modules over time!
Project & Portfolio Management
|External Project ManagementNPD Project ManagementInternal Project ManagementProject Positive RisksProgram ManagementBuilt-In TemplatesProject Charter||Dashboards & AnalyticsProject Business Processes WBS ManagementAgile Project ManagementRequirements ManagementLessons LearnedPortfolio Management||Project BaselinesAccess RightsProject CommunicationInternal Request ManagementRisk ManagementChange RequestMeeting Management||Customer SatisfactionCustomer ContactsPlanned and ActualsResource AssignmentEnterprise Risk ManagementIssues & Action Items||PMP BuilderAlerts & EscalationsStatus UpdatesReporting & Business IntelligenceChecklists Ticket Management|
Project Proposal Management
|Enquiry CreationWork PlanningBudget||RevenueProposal BuilderExpense Claim||Access RightsActual Costs Advance Request||Alerts & EscalationsStatus UpdatesChecklists||SearchDashboards & AnalyticsFinancial Parameters|
|Resource CategorizationSkills and CompetenciesResource CapacityResource Demand/Forecasting||Asset Master Resource RequestResource AllocationResource Release||Resource AssignmentAsset Request Resource TimesheetsResource Efficiency||Resource BillingResource CostingAsset Allocation |
|Dashboards & AnalyticsAlerts & NotificationsProductivity ReportsAsset Maintenance|
|Margin Calculator (Revenue & Budget)Revenue RecognitionProject Billing||Vendor Billing Expense ReimbursementEnterprise Budget||Debit Note ManagementCredit Note Management Accounts Receivable Mgt.||Accounts Payable Mgt.Multiple Legal EntitiesIntra-Company POs/Invoices||Profit & LossDashboards & AnalyticsAlerts & Notifications|
Supply Chain Management
|BOQ ManagementCost Sheet ManagementMaterial Request Management||Purchase Request Management Purchase Order ManagementGRN Management||GIN ManagementGMR Management Inventory Management||Vendor EnquiryVendor Quotations||Alerts & NotificationsDashboards & Analytics|
New Product Idea & Evaluation
|New Product Idea & EvaluationTechnical Specs SheetFinished Goods ManagementTools/Molds ManagementNew Item Management||Benchmarking ManagementCompetition ManagementDossier ManagementQuery ManagementExperiment Management||Communication ManagementAnalytical Test RequestStability Test RequestPilot Test RequestLOA||Product RegistrationSite RegistrationSite InspectionTechpack & ApplicantDashboards & Analytics|
|Review ProcessChecklist LibraryChecks||DefectsRework||Defect CreationDefect Assignment||RCADashboards & Analytics||Test Plan ManagementQuality Metrics|
|Key Words/FormsAuto Numbering||Hierarchical TaxonomyKnowledge Artifacts||Approval/ReleaseAccess Details||SearchRanking of Search Results||Alerts/Notifications|
Customer Facing / Customer Support
|Ticket ManagementTicket Lifecycle||SLA ManagementTeam Management||RCA Service Catalogues||Integrated Knowledge Base||Integrated to Internal Requests and Project Mgt.|
Timesheet & Leave Management
|Leave ProcessLeave Form||Orgn. Leave Calendar Company Calendar||Leave PolicyLeave Categories||Project Leave Calendar||Integration with Timesheets|
|Social for ProjectsWorkflow ManagementCustomer Portal||Supplier PortalSingle Sign-OnReports||AnalyticsMobile APP||ITGC ControlsCustomer Master||Supplier MasterContact Master|
|Search & Advanced SearchMy WorkspaceAdministration||Organization DefinitionMaster ManagementUser Feedback||Search IndexEnterprise GroupsCalendar||Personalization Alerts & Notifications||Access ControlsAudit Trails|
TouchBase Online Project Management Software is ready to transform your enterprise project management culture.
Are you ready?