Benefits of a Cloud-Based Project management Software [Platform]
The coronavirus pandemic and resulting social distancing at the start of 2020 forced companies that hadn’t already done so to transition to a remote workforce.
While there are numerous remote work benefits like increased job satisfaction and cost savings, the especially suddenness of the transition has its downsides.
The below project management statistics highlight some of the problems the remote workforce faces. These problems can be solved through the use of workflow management features like task assignment and employee workload overviews.
- 88% of remote workers face inconsistent leadership and miscommunications with other team members
- 83% of employees report feeling burnt out by a high volume of emails
- COVID-19 has increased employee burnout by 12% in two months
- 73% of employees report burnout
- 20% of employees cite an unmanageable workload as the number-one cause of burnout
Using project management methodologies, PM software, and having a project scrum master unites a remote workforce and increases project success rates.
According to the Pulse of the Profession study from the Project Management Institute, businesses with a clear project management structure in place have 38% more successful projects that met their original goals than those that did not.
Having a PMO led by a project management professional means companies adopt a clear, standardized approach to project management. A project management office has the necessary soft skills risk management needs to prevent problems like schedule overrun.
Additional statistics showing the value of project management are:
- Only 21% of companies have standardized project management systems like waterfall and agile in place
- 1 in 6 IT projects have a cost overrun of 200%
- IT projects with a budget of at least $1 million are 50% more likely to fail to meet business objectives
- 41% of businesses with a high project failure rate blame a lack of involvement from higher-ups in project management
- 41% of organizations reporting poor project performance say they don’t get enough support from project management and project sponsors
- Project management challenges cost businesses $109 million for every $1 billion invested in a project
(sources: Gallup, Wellingtone, PMP Gartner, PMI, UM Saint Louis)