How a Project Management Tool Helps You Make Estimates

Time management benefits

The cost of a project is driven by the amount of fixed time it takes to perform and complete a task and takes into account the uncertainty of time in the form of a range such as hours, days or even weeks. Project management software, such as LiquidPlanner, puts all team members on the same project page.

You will able to see if the milestones are being met and if not by what segment of time. That will allow you to always know what percentage of the project is complete and what remains to be addressed and completed.

Building the project management structure

The project management tool allows you to set up tasks and subtask directories for tasks, budgets, schedules and project estimates. One of the most crucial elements in any project is the actual budget. The management tool is perfect for budget tracking to allow you to see what part of the budget has been spent and what remains. The project management structure allows for tracking fixed expenses and events such as vacation and sick time away from the project and individual tasks that may take precedence over the original schedule.

The system will allow you to make amends to the schedule when an unforeseen event takes place. The unforeseen event can be a change due to the permitting or licensing process or if the project is expanded or reduced for any reason. Those events usually affect the budget and schedule, and you will be able to make the necessary adjustments easily with a minimum of effort.

The upshot of the project management tool will allow you to spend more time working the project and less time managing each element.