There are some functions in a PM tool that cannot be overlooked when starting a new web-based startup. We will go through some goals that each project management tool achieves and should NOT be compromised in preparing for your web-based startup.
1. Platform for Collaboration and Communication
Fluid communication and transparency are in tasks allocation and progress are key to an efficient business. Tools such as Asana and Trello allow for small team communication and simple project progress tracking. Asana uses a very clear dashboard style of task allocation provides a platform for brainstorming to transition easily to actionable tasks.
However, if you are considering running multiple projects and prefer a PM tool which uses the agile project management method allowing for multiple projects to be easily managed then I would recommend forecast.it. Managing multiple projects is made easier with a highly efficient prioritization of project timelines along with assigning tasks according to team member availability.
2. Accurate Planning and Budgeting Tool
Having an accurate cost analysis of your business is possible by tracking project budgets with cost estimates and time consumption. There are tools such as Tenrox, which allow for budgeting in a cloud-based project management.
Additionally, Forecast.it also has an excellent web-based budgeting software which intelligently estimates unforeseen costs and also estimates project time consumption. Risks are minimized with its 95% accurate Automated Learning Algorithm (ALA) which adapts to your project.
3. Time Tracking
Time Tracking tools are an important part of project management since the amount of progress made on the project is evaluated. Also, it acts as a means to see track the amount of work completed by individual members or hired freelancers. For a standalone time tracking tool, there is Everhour and Toggl. Everhour provides great filters in time tracking options to measure the amount of time spent on different tasks and also uses secure @ and #hashtags to enter a time entry.
Project management tools are not limited to only one function, but some tools encompass all three essential functions. In fact, rather than using one tool for each function, a simple one tool for all functions can be used to manage projects efficiently. A strongly recommended tool that is already mentioned above is Forecast.it which has a built-in Time tracker and estimations for budget and project timelines.
Originally published at www.quora.com.
