Managing projects is not all about people skills and
having the plans carried out. It also involves seeing to
it that projects are within the budget costs as planned.
Whereas before when matchbook covers, note pads,
slide rules and four function calculators, as well as
spreadsheet forms and graph paper were used as
tools by project managers in managing smaller/medium
sized projects, with the present technology solutions
such as the development of software has been made
to provide adequate tools in project management.
Nowadays, big projects are not hard to manage in
terms of cost and schedule of performance.
The IT Management software value is a system
software is a tool used to help project managers
come up with a standardized methods for cost and
schedule performance in terms of reporting projects.
It is with these reports that project managers are
expected to establish cost/schedule information
requirements, as they feel necessary. With the IT
Management software value, project managers are
able to plan, revise or update, status, and generate
the data for similar projects.
IT Management software value includes the cost
and schedule project control system which deals
with internal management needs, and contractual
data items. It includes identification of responsibilities,
cost account selection, work authorization, scheduling
with precedence logic networking, resource
management, budgeting, cost accumulation, cost
and schedule performance measurement, variance
analysis, and reporting and change control.
The success of handling a project lies on good
management. The financial resource is one of the
vital factors that need to taken into account in project
management. Over expenditure may not be a good
signal for a project to continue and thus it becomes
necessary that costing and project performance
are closely monitored as well.