Project Management Software ROI

I am sure you have heard the grandiose claims by software vendors about their project management software ROI. 

Or how their software improves productivity in your team overnight without any effort on your part. If it sounds too good to be true, it is not true.

If you are not familiar with ROI, it stands for Return On Investment.   

You might ask why as a software vendor ourselves we are saying such negative things about project management ROI?

We believe no software by itself can help to improve the ROI or the productivity.

It is only the humans that can improve productivity when given right tools when they are trained to use them correctly.

What does that mean? The software is just a tool, it is the craftsman using a good tool that creates value, art or improves productivity.  

Obviously, a well-designed software could be a conduit for major productivity gains.

But, any productivity gains depend on how your team uses the software and their level of competence in managing projects and people.

Let me explain this a bit more. Even with the best tools, a bad manager only causes more harm than good.

Or, even the best tools in hand an inexperienced team will not be as productive as an experienced one.  

This might change in the future when Artificial Intelligence or AI  becomes the primary driver in the knowledge-based applications.

That would be a bright future for managing work, but it is not close anytime soon.  

So how do you evaluate software? Obviously not by the claims the vendor makes. Or, based what people say on social media.

The best and the only right way to find out if an application fits your requirements and needs is to try it yourself!

Project Management Software ROI

How do you measure project management ROI? This is a complex problem to crack.

No two projects are the same and no two teams are similar. So how do you measure that the software has improved your productivity and enhanced your ROI?

If you feel more productive is it because of you and your team have gained more experience or the new software you started using is helping out?

Is the improved productivity is due to the fact that you have already done a similar project before and know how to manage it a second time?

Or, the new software you just purchased is suddenly helping you to do things right?

Even more absurd, some vendors claim their software can improve your teams and project development ROI by 35% or even 45%!

How do you think they get these numbers?

From thin air, that is where! It is impossible to measure ROI improvements without doing extensive data collection for hundreds or thousands of projects and do a comprehensive statistical analysis of the data.

So what is Binfire’s advantage if measuring RIO is so difficult and elusive? 

We believe each team will have a different ROI when using a tool, and project management software is not any different.

Granted with the right training and experience a team can improve their project management software ROI. 

To help teams do better, we provide the best tools the project manager and their team need to plan and track projects seamlessly.   

These tools include apps for managing tasks, managing resources, and managing people plus communication tools for better communication and collaboration across the entire enterprise.

The system is designed carefully to enhance and improve the work of managing projects. Our approach is to bring all that is needed for working on projects.

We are committed doing more to help managers and their teams to do a better job planning, tracking, and finishing their projects.

Our goals are to reduce the project delays and cost overruns and to make project status accurate and up to date in real-time.

We are working on advanced features like artificial intelligence to make it easier and more accurate to do task estimation and better manage risks in the projects.

Would love to hear your ideas and thoughts about improving productivity and getting a better ROI from tools we use every day.

Leave a comment below and we can start a conversation about project management software ROI.