Project management tracker: A better alternative to Excel

The tools and systems we choose to employ project tracking can significantly impact the efficiency, clarity, and success of our projects. Microsoft Excel has long been a staple in project management for tracking tasks, schedules, and budgets. While it is indeed a powerful tool for many tasks, its limitations in today’s fast-paced project management underscore the need for dedicated project management trackers, especially for larger, more complex projects. The evolution of project management demands more sophisticated, dynamic, and collaborative tools allowing real-time collaboration, dynamic planning, and comprehensive reporting. Transitioning to a dedicated project management tracker can address these limitations, offering a more efficient, error-resistant, and scalable solution for managing projects.

What is a project tracker?

A project tracker is a comprehensive tool designed to facilitate the planning, execution, monitoring, and completion of projects. It serves as a centralised platform where all aspects of a project can be managed and tracked, from individual tasks and deadlines to overall project timelines and resource allocation.

Unlike traditional tools like Excel, a project tracker offers dynamic features such as real-time updates, collaboration across teams, and instant reporting capabilities. It integrates various functions necessary for effective project management, including task assignment, progress tracking, communication, document sharing, and analytics. By providing an overview of every facet of the project in an easily accessible format, a project management platform ensures that project managers and team members have a clear understanding of their roles, responsibilities, and the current state of the project at all times. This level of organisation and visibility is essential for identifying potential issues early, making informed decisions, and steering the project towards a successful conclusion.

Is a project management tracker worth the investment?

The question of whether a dedicated project management platform is worth the investment is one that many organizations grapple with. The answer, however, leans strongly towards a resounding "Yes." The initial cost of implementing a project management tracker is often outweighed by the significant benefits it brings in terms of efficiency, productivity, and overall project success.

By streamlining processes, reducing errors, and facilitating better communication, a project management tracker can drastically reduce the time and resources spent on project administration. This allows teams to focus more on the work that matters, driving innovation and value. Furthermore, the insights provided by a project management platform can help organisations identify bottlenecks, optimise workflows, and improve resource allocation, leading to cost savings and enhanced project outcomes. In a competitive business environment where time is money, and collaboration is key, investing in a robust project management tool can be a game-changer, offering a high return on investment through improved operational efficiency and project success rates.

The limitations of Excel in project management

• Lack of real-time collaboration: Excel does not naturally support real-time collaboration. When multiple team members need to update the same spreadsheet, version control issues can arise, leading to confusion and errors. Although cloud-based solutions like Google Sheets or Microsoft's own Office 365 offer more collaboration capabilities, they still lack the integrated communication tools of a specialised project tracker and may face data privacy issues.
• Manual updates and error-prone data entry: Excel requires manual entry and updates. This can be time-consuming and prone to human error, especially in complex projects with numerous tasks and dependencies. Automated tracking and updates in a project management platform can significantly reduce these errors and save time.
• Limited visualisation options: While Excel offers charts and graphs, it lacks the dynamic visualisation tools that many project management applications provide, such as Gantt charts, Kanban boards, and customisable dashboards. These tools are essential for visualising project timelines, workflows, and progress in a way that's immediately understandable.
• Lack of integrated project features: Excel does not offer integrated features such as time tracking, issue tracking, or risk management, which are essential components of comprehensive project management. Implementing these features in Excel requires complex workarounds and can still fall short of the functionality offered by dedicated software.
• Inadequate task and resource management: Excel struggles with efficiently managing tasks, resources, and allocations without extensive manual setup. A project management platform, on the other hand, is designed to handle complex task assignments, resource planning, and workload balancing, often with predictive capabilities to help avoid overallocation.
• Insufficient reporting and analytics: Generating detailed reports and analytics in Excel can be labor-intensive and requires a deep understanding of its formulas and pivot tables. A project management tracker typically includes built-in reporting tools that can generate detailed insights with just a few clicks, providing critical information for decision-making.
• Difficulty in scaling: As projects grow in size and complexity, Excel spreadsheets can become unwieldy and slow. Performance issues can arise with very large files, and the structure of Excel does not easily accommodate the dynamic changes that often occur in project scopes and teams.

6 ways a project management tracker benefits your organisation

• Enhanced collaboration: Unlike Excel, which often involves sending back-and-forth attachments or using shared drives with version control issues, project management trackers offer real-time collaboration. Team members can update their progress, comment on tasks, and share documents within a unified platform, ensuring everyone is always on the same page.
• Integrated communication tools: Communication is key to project success. Modern project management trackers integrate chat, discussion boards, and notification systems, facilitating seamless communication within the team. This integration reduces the need for external communication tools and centralises project discussions.
• Dynamic project planning and visualisation: Project management platforms provide various views (e.g., Gantt charts, Kanban boards) that offer dynamic planning and visualisation capabilities. These features allow for easy adjustments to schedules and tasks, enabling teams to respond quickly to changes and stay agile.
• Improved task and resource management: A project management tracker allows for detailed task assignment, including priorities, deadlines, and dependencies. They also offer resource management features, enabling managers to allocate and track resources efficiently to avoid overburdening team members.
• Comprehensive reporting and analytics: With built-in reporting and analytics features, project management applications offer insights into project performance, resource allocation, and progress towards milestones. These insights are crucial for informed decision-making and strategic adjustments, something that Excel’s static reports cannot provide as effectively.
• Accessibility and scalability: Being cloud-based, project management trackers are accessible from anywhere, at any time, and on any device. This accessibility, combined with their scalability, makes them suitable for projects and teams of all sizes, unlike Excel, which can become cumbersome in large-scale projects.

Making the switch from Excel to a project management tracker

Transitioning from Excel to a project management tracker may seem daunting, but the long-term benefits far outweigh the initial learning curve. Start by identifying your project’s specific needs and evaluating different project management trackers to find the one that best fits your requirements. Many platforms offer trial periods, allowing you to explore their features before making a commitment.

Must-have features of a project tracker

Choosing the right project management tracker is pivotal for enhancing team productivity, ensuring timely project delivery, and maintaining budget control. With a plethora of options available in the market, it can be challenging to determine which features are essential for your project's success. Here, we outline the must-have features of a project tracker that can cater to the diverse needs of project managers and their teams, ensuring a smooth and efficient project management process.

1. Task management

Priofy excels in task management, offering a robust platform where tasks and subtasks can be created, assigned, and tracked with ease. Deadlines and statuses can be updated in real-time, ensuring that every team member is aware of their responsibilities and progress is continuously monitored, aligning perfectly with the project's goals.

2. Gantt charts and visual planning tools

The Priofy platform includes advanced Gantt charts and visual planning tools that facilitate detailed project scheduling. These features allow for a clear visualisation of task interrelationships, durations, and dependencies, making it easier for project managers to adjust timelines as necessary and keep the project on track.

3. Resource management

Priofy provides comprehensive resource management capabilities, enabling project managers to efficiently allocate both human and material resources. This ensures that tasks are assigned based on availability and expertise, helping to prevent resource overextension and optimise project efficiency.

4. Time tracking and timesheets

With its integrated time tracking and timesheet functionalities, Priofy makes it simple to record and monitor the amount of time team members spend on various tasks. This feature is crucial for accurately billing clients, estimating future projects, and enhancing overall productivity, while also providing transparency and accountability.

5. Reporting and analytics

Priofy's powerful reporting and analytics tools offer project managers deep insights into project performance, resource utilisation, and budgetary status. The ability to customise reports means that managers can easily identify trends, recognise potential bottlenecks, and make informed decisions to steer the project towards success.

6. Security and data protection

Recognising the importance of data security, Priofy implements stringent security measures and data protection protocols. This includes encryption and secure data storage, ensuring that sensitive project information is safeguarded and that the platform is compliant with relevant data protection regulations.

7. User-friendly interface

Designed with the user in mind, Priofy boasts an intuitive and easy-to-navigate interface that does not require extensive training to use effectively. Its customisable nature allows it to be tailored to meet the specific needs of the team and project, enhancing user experience and facilitating smoother project management processes.

To conclude, the right project management tracker can transform the way teams plan, execute, and complete projects. By prioritising the must-have features mentioned above, organisations can select a project tracker like Priofy that not only meets their current needs but also scales with their projects' growth. While Excel has its merits in certain aspects of project management, the dynamic, collaborative, and comprehensive nature of project management trackers makes them a superior choice for modern project teams. Investing in a comprehensive project management solution is a step towards achieving greater efficiency, collaboration, and project success.