Gain efficiency with Project Management ERP
ERP for project-based businesses plays a vital role in planning, managing and reporting data related to the budget and scope of the project. Today, there are standard as well as flexible Project Management ERP solutions available for project managers. With the volatile nature of projects that are budgeted at millions or billions of dollars, a made-to-order ERP solution stands out as the best answer for operational efficiency.
Ambitious projects need efficient processes
Factors such as budget, location, raw materials, manpower, and other relevant data points vary as per the scope of the project for project-based businesses. Mumbai, a metropolitan city, is growing with several infra projects such as metro rail services, flyovers, housing, commercial complexes and more. The future travel technology project, Hyperloop will also be operational soon.
High-value projects need a technology-powered project management resource planning system in place. Some of the efficiency capabilities that a good ERP software delivers are as follows:
- Get Project Overview
A project management ERP presents a complete view of the project including project plan, cost, schedule along with milestones and deadlines. Resource allocation can be done in a more systematic manner with a clear picture of what kind of resources are required where and at what time. To ensure accountability, names of roles responsible for managing the project tasks are mentioned in the system.
- Be Location independent
Sometimes, the scope of the project expands across geographies with key team members operating from offices from different locations across the globe. Project monitoring using mobile apps on smartphones and handheld devices ensures that real-time updates of the project are available to key stakeholders with a single click.
- Monitor Finances
Tracking of finances is critical for the success of a project. There are several instances where projects had to be shut down because of project costs exceeded the budget and turned the whole project unfeasible to be pursued.
Well-designed project plans cover planned and unexpected expenses. But ERP helps to track those expenses and make the necessary changes in project plans so that any sort of unnecessary cost escalation can be avoided on time with suitable resolutions. Also, gain control over your inventory and manage materials using a single system.
- Track Individual Performance
OMNI, a project management ERP solution, provides individual project performance details to project managers. Senior management executives will find it easier to determine the physical and financial contribution of each individual from anywhere, at any time as required. Senior project managers can shift reporting managers or workers to sites aligning with their capabilities based on their performance.
Better Projects with Project Management ERP
There is much more that can be achieved with a Project Management ERP. Mumbai, for example, has several projects. Contractors receive quotations from several vendors for the procurement of raw materials. A project management ERP can provide insights into the best quotes for project needs based on predictive analytics. Project estimates can be drawn using quotes from different vendors and the best quotation offer can be determined.
Find resource level data to manage projects. Increase operational efficiency by saving costs putting idle resources to work and updating plans as per changing project scenarios. Instead of losing time on finding data, use the saved time to fine tune your processes by accessing all the information that you need within a centralised system.
ERP eliminates data redundancy, reduces documentation costs and eliminates human errors. At the same time, ERP provides up to date project information to clients, vendors, office staff and site personnel relevant to them. The simplified process helps project members to function smoothly as well. By taking care of operational inefficiencies in projects, ERP brings in enormous business value in terms of time and money to the project owners as well.
OMNI project management ERP has been successfully implemented by various project-based companies in India and abroad. To know more about the flexible and mobile-friendly OMNI ERP solution, contact ________