How Can Odoo Augment Your Company’s Project Management?

A study by Havard Business Review reveals that one in every six projects costs over 200% of the estimated amount, and 70% of IT projects face delays. Despite the availability of flexible methodologies and multiple resources, companies are still struggling and wasting a lot of money every year to handle project management challenges.

While it is the project manager’s responsibility to ensure smooth working of all the processes, they are always loaded with tons of duties such as budgets, allocating resources, scheduling tasks, and more. Moreover, if there are several projects running, it can become overwhelming for the project manager to personally look into every collaboration happening in the business. This blog will take you through the major challenges faced in project management and how deploying Odoo technology can help you tackle these challenges and elevate your performance.

Read more: What’s New In Odoo 15: The Most Anticipated Upcoming Version Of Odoo

Challenges faced by the project managers

 1. Lack of communication

According to Deloitte, 32% of professionals believe that communication is the biggest issue of project management. A transparent method of communication will help build credibility amongst your stakeholders and involve them in the process. Miscommunication can affect teamwork and even cause conflicts among team members, causing a delay in the project. To avoid these pitfalls, project managers can rely on collaborative and project management software available in the market.

 2. Budgeting issues

Financial issues are one of the biggest hurdles of effective project management. Managers can avoid complications a project may likely face by efficient cost management and achieving quicker results.

3. Lack of clarity on goals and success

According to a study, 39% of projects fail due to a lack of project planning and defined goals. Hence, It is vital to set clear goals for the success of any project. Additionally, a project manager needs to set up milestones and quality tests to quantify the progress of a project. A predefined set of objectives and goals will help project managers defend their vision before the upper management and customers.

4. Scope creep

Scope creep, also known as requirement creep or even feature creep, refers to how a project’s requirements increase over a project’s life cycle. While scope creep can be beneficial in some cases, it can also have a negative impact on your business. Clients who have vague requirements and don’t know what exactly they want can be challenging for both managers and the project team.

5. Inadequate risk management

Typically, projects have several variables that create many possibilities and rarely go exactly the way it was planned. Not having the foresight to identify any critical situations or making up contingency plans can be a significant setback for any project. All these challenges demand the interplay of intuitive project management software to ensure real-time tracking and organizing of projects. Over 90% of high-performing companies are switching to project management applications to complete their projects professionally. Project management software helps automate time-consuming tasks and manage a large team of professionals working within. Additionally, the software can also help businesses put data straight and accomplish remarkable results without any delays.

Though you can find wide choices of project management tools in the market, you will have to pick the application that suits your business workflow. Make sure that the chosen project management software for your business includes the following features.

• Project Planning and Scheduling
• Project Budgeting
• Team Collaboration
• Time Tracking
• Reporting

While the project management tool may offer several other features too, the above said are essential for any project management. A perfect solution to all project management-related problems is Odoo. Whether you want to add tasks/subtasks under a project or assign tasks to your team members, Odoo helps you achieve it seamlessly.

Read more: How Odoo ERP Helps Leverage Business Intelligence and Data Analytics

Benefits of Odoo’s Project Management Module

1. Mobile friendly

Odoo can be installed on a mobile phone, making it easy to use while on the go. Given the pandemic situation, this feature is a boon. It allows team members and the managers to remain connected and track the projects from anywhere. That said, the Odoo project module allows you to get a large screen view along with a chatter facility using computers.

2. Customizable

Odoo allows you to customize your projects easily. From renaming projects to rescheduling stages, the Odoo module enables you to achieve it hassle-free. Additionally, its Filters and Groups features help you track the projects and tasks.

3. User-friendly

Odoo is highly user-friendly and provides a Kanban view to have a quick glance at the projects based on the tasks and stages. For example, to check the time and deadline, you can use the Gantt Chart, Graphic, and Pivot view.

4. Enhanced communication support

With Odoo, you can integrate email and use your email alias. This feature allows managers or customers to automatically create a task by simply sending emails to the specified alias. All those who receive the communication will become a part of the task. Additionally, it supports sending alerts to customers based on the activities. Odoo project also allows you to chat with the team members by just clicking on the team member’s image. It not only saves time but helps collect in real-time.

5. Improved customer management

Odoo project module helps you generate customer tickets which allows you to track the progress of the project and interact with the project team.

6. Report generation

Odoo generates reports in an easy-to-grasp format. Options such as Filters, Measures, and Group-by help the team to manage the reports.

7. Easy integration with other modules

The project module integrates easily with other modules such as Calendar, Timesheet, Accounting, Expenses, etc. It helps you to manage accounts, plan expenses, track working hours, and plan activities.

Read more: 6 Ways Odoo ERP Customization Can Benefit Your Business

How can Fingent help?

Undeniably, the Odoo Project Management module is a must-have solution for all businesses. We help businesses achieve their strategic goals and drive better revenue with our ERP development services. We have expertise in developing user-friendly applications for businesses across various industries.

If you’re looking to reduce your business complexities and drive growth with Odoo implementation, contact us.