When to Invest in Project Management Tool

January 31, 2024


Any company that runs multiple projects simultaneously as well as those that have teams of three or more people working on a single project should seriously consider investing in a project management software solution.

Additionally, such a solution is absolutely vital for teams containing people who are dispersed across multiple offices, since it provides all team members with access to a centralized information database that reflects real-time updates.

Although it was once true that only large businesses with high revenues could consider project management tools due to high costs, there are now solutions that can fit into any company’s budget.

If any of the following statements can be used to describe a company, it should consider implementing a software solution:

  • Employees frequently work on multiple projects simultaneously and may even belong to multiple teams.
  • Our projects are usually completed after their deadlines.
  • We frequently start projects and terminate them prior to completion due to poor planning or budgetary constraints.
  • The quality of our projects is declining.
  • Our profits have decreased due to poor project planning and project failures.
  • Projects are often put on hold for indefinite periods of time to allow project managers to redefine the scope or search for new funding.
  • We frequently exceed our projected, or allowed, budgets.
  • We often experience obstacles that we are completely unprepared for.
  • Mistakes that can easily be prevented through appropriate monitoring occur quite often.
  • Team members find it difficult to track their assigned tasks and deadlines.
  • Team members have no means of easily figuring out where we are in the project timeline.
  • Employees sometimes finish their assigned tasks but are unable to take on new tasks because they have no means of finding out which tasks have yet to be completed.
  • Resources are often overbooked or double booked, leading to delays or budget extensions.
  • Team members frequently miss vital communications or do not see them quickly enough.
  • Project managers are growing tired of repeating themselves.
  • Miss communications are leading to delays and sometimes causes employees to work on the wrong tasks or complete tasks improperly.
  • Project managers must email, call, or meet with individual team members any time a progress report is needed or a change to the project plan is made.

TouchBase – Integrated project management software is currently available as a self-hosted and cloud-based solution.

Today, cloud-based systems are growing rapidly in popularity and self-hosted solutions are beginning to lose steam.



ProductDossier - The makers of TouchBase PPM solution, that is configured specifically to the needs of your industry and organizational standards & processes. TouchBase is designed uniquely for external customer projects, new product development, and internal initiatives. TouchBase supports multiple project management approaches such as predictive, agile, and hybrid. TouchBase digitizes your project management landscape, offers holistic solution to your project management needs, and integrates with your existing enterprise applications such as ERPs, CRMs, Accounting, and others - to deliver one version of project management truth!