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Project Management And BPM Tools: Go hand In Hand

BPM Tools Give Broader View: Project management and BPM tools go hand in hand. In fact, they are complementary of each other. Business Performance Management (BPM) tool software connects the dots created by project management. A strong association between project management and BPM tools is very clear considering that more and more business organizations are using BPM tools to view the results their business plans are producing. BPM tools help you get the big picture of how different individual projects are coordinating each other to attain better overall results.

What is Project in Business World? What does a project mean when we analyze the importance of project management and BPM tools? Any business attempt that requires resources and budget is known as project. Whether you start a new plant or start producing new product, a major software change or campaign to reshuffle the IT structure, all of these are the examples of a business project. When the number of such projects keeps increasing, managing them becomes a daunting task for the organizations. BPM tools help the businesses by managing these projects and connect to the main strategic goal of the company.

Ignorance May Result in Lost Opportunities: Ignoring the project management and BPM tools may result in unproductive use of resources. This may also lead to the loss of several new opportunities. This can be better explained with the help of an example. A department has started a new project and it is going well. They are completing every task on time and are achieving the set goals. However, the sponsors are not very hopeful about it. They do not believe that this project is going to help them achieve the long-term targets of the company. Then what will happen? The company will loose what could have been a very good opportunity for the growth of the business.

Strategies are changing Fast: This is the age of information technology. With the increased speed of information travel today, business organizations have to change their business strategies accordingly. What was very important in the beginning of the year may loose its significance by the mid-year. With integrating project management and BPM tools, it becomes easy for the top-level executives to analyze different ongoing projects simultaneously. This facilitates the decision-making process for them. They can find out whether a particular project is worth funding or not. They may completely terminate unviable projects and scale back less important projects immediately.

The duo of project management and BPM tools has yielded better results than the use of dedicated software by business organizations to analyze projects. BPM tools provide in-depth information and are definitely better than dedicated software alone.

Alexander Gordon is a writer for - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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