6 record keeping a major benefit of project

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6. Record keeping : A major benefit of project management software is its ability to keep excellent records. For instance, the data can be kept on individual team members’ schedules, as well as each task, cost and re- sources used. These data can be used to produce high- quality reports and can be helpful in planning future projects. 7. Speed : Once input data have been collected and entered, almost every imaginable calculation can be done very rapidly by the software. Manually creating or revising plans, schedules and budgets can take hours, days, or weeks. However, revisions can typically be performed in minutes or seconds with today’s systems. The savings in time are usually enough to pay for the software itself. 8. What-if analysis : One further feature of project management software that is of great benefit is the ability to perform “what-if” analysis. “What-if” analysis allows the user to set the effects of various scenarios on a project. These different scenarios can be run on the soft-ware, and their effects can be evaluated. This allows the project manager to prepare and plan for certain contingencies and to assess consequences. Conducting “what-if” analysis without the software is not easy and sometimes impossible. PMS A PMS B Criteria Weight Raw Score Weighted Score Raw Score Weighted Score Accuracy 10 70 50 Affordability 30 70 80 Ease of use 10 30 90 Ability to handle complexity 10 40 100 Maintainability and modifiability 10 100 60 Record keeping 10 100 70 Speed 10 60 60 What if analysis … 10 100 70 TOTAL 100 Which project management software should the company select and why?
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  • Fall '14
  • DR WAITHAKA
  • Project Management, project management software, Project accounting, Comparison of project management software

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