I am sure you have heard the grandiose claims by software vendors about their project management software ROI.
Or how their ware improves productivity in your team overnight. If it sounds too good to be true, it is not true.
You might ask as a software vendor ourselves why we are saying such a negative thing about project management ROI?
We believe no software by itself can help improve the ROI nor the productivity.
Obviously, a well-designed software could be a conduit for productivity gains but any gains depend on how your team uses the software and their level of competence with managing projects.
This might change in the future when Artificial Intelligence or AI becomes the primary driver in the knowledge-based applications.
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? Simply put we give the tools the project manager and the team need to do projects right.
This includes tools managing tasks and assignments plus communication tools needed to work together and collaborate.
The system is designed carefully to enhance and improve the work of managing projects.
We are committed doing more to help managers and their teams do a better job executing 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.