Project management tools are designed to streamline and simplify an entire project lifecycle, from start to finish. These specialty tools allow businesses to more efficiently manage a project, keep track of progress (and challenges), supervise budgets, and collaborate with team members. Project acquisition and management tools also can provide real-time feedback and data analysis, helping managers to make informed decisions more quickly and thus reduce the risk of delays or cost overruns.
Indeed, it is by centralizing all project-related data and activity in one platform that project acquisition and management tools such as Tenderwell help teams to work together more efficiently and cohesively, leading to better project outcomes, improved productivity, and, of course, increased profitability for the businesses that use them.
Intrigued about how a project acquisition tool can place you ahead of competition? Check out our previous article on Tenderwell.
The Tenderwell app is encrypted, runs in the cloud, and offers everything project managers need at the click of a button. Tenderwell was built from the ground up to work with DevelopmentAid’s services to instantly import, sort, and manage experts and consultants, track budgets and expenses, foster team collaborations, and securely store documents and project-related files. Simply put, for any business working in the field of international development, there is no better project acquisition and management tool than Tenderwell.
Let’s dive into the app’s possibilities and see why managers prefer it over traditional instruments for project monitoring.
Project Planning
Once a project has been selected, the management phase of the project life cycle begins, and the first stage is known as the project planning process.
During this stage, the project manager and/or team will develop a comprehensive and detailed plan to outline the objectives, scope, goals, and deliverables for the project. This involves creating a budget, determining milestones, establishing a timeline, and identifying any potential obstacles or risks that may impede the project’s success.
In short, the project plan will serve as a roadmap for the execution of the project while ensuring that every team member is informed and aligned on the project’s goals and objectives as well as ensuring that human and other resources have been effectively allocated.
The project planning stage is absolutely essential for ensuring that the project has a charted path forward to completion, that everything stays on track, and that everyone involved has a clear and comprehensive understanding of their roles, responsibilities, and obligations. By taking the time to carefully prepare for a project, companies are well placed to minimize cost overruns, unexpected delays, and any other issues that could negatively impact the successful completion of the project.
The Tenderwell app was conceived right from the start to be a simple yet effective project management tool. Whether it is calculating the fees for third-party experts and consultants, accessing budgetary information from a donor agency or organization, assembling a project team in-house, or organizing documents such as proposals and work authorization documents, Tenderwell comes with a full suite of tools to help companies make better-informed decisions during the planning stage of project management.
Project Execution
Once a project has been identified, evaluated, and selected, and the project planning stage is completed, the next step is to begin executing (actively working on) the project.
During this stage, the project plan that was developed in the previous step is put into action. Team members begin to work on their assigned tasks while adhering to the established milestones, budgets, and timelines while ensuring that the required deliverables are completed.
The project manager’s responsibilities include monitoring the progress of the team and making any necessary adjustments or course corrections in order to ensure that the project stays on track. One of the crucial components of this process is maintaining clear communication and frictionless collaboration between team members so that tasks are completed on time and delivered according to the required level of quality.
The Tenderwell app was designed to make the collaboration and communication aspect of project execution as simple and as useful as possible. All project-related documents and files are stored in a central location, with frictionless permission given at the required level to all team members working on the project.
Furthermore, the app allows team members to communicate directly with one another while maintaining a record of their correspondence right in the same folder as the other project files.
In short, the Tenderwell app makes it easier for project teams to effectively execute the project according to plan and ensure that it is completed on time, within budget, and to the satisfaction of all relevant stakeholders.
Project Monitoring and Control
Once work on a project is underway, the project monitoring and control stage begins. During this step, it is the responsibility of the project manager to identify any potential issues or risks, monitor the project team’s progress, and take any corrective action needed in order to keep the project on track.
Most project managers establish key performance indicators (KPIs) during the planning process to ensure that the project is meeting its objectives and goals during the execution phase. Other monitoring and control responsibilities can include holding regular meetings with the project team to discuss any issues hindering the successful completion of the project as well as to review the progress made thus far.
Tenderwell comes with a full suite of project monitoring tools, which are conveniently grouped under the “Project Manager” tab of the app. With a single click, project managers can review whether deadlines are being met, milestones are being achieved, and if everything is running according to the planned budget.
Effectively monitoring a project during the execution stage will help minimize the risks of running into budget overruns, delays in project completion, and/or other issues that could negatively impact the project’s success. Project managers who can remain vigilant and proactive in their approach will be best positioned to deliver a project on time and to the satisfaction of all the relevant stakeholders.
Project Closeout
The final stage of a successful project lifecycle is the closeout stage.
During this step, the project team will finalize all of the deliverables and complete any outstanding tasks. In most cases, a project will be closed out following a final team review of the project to make sure that all of the goals and objectives have been met.
Once all this has been finalized, it is up to the project manager to conduct a post-project evaluation both to enumerate the realized successes during the project’s execution as well as to identify any important lessons learned that can be applied to future projects. Frequently, the project manager will also compile a written report to deliver to relevant stakeholders that summarizes the activity undertaken to complete the project as well as any recommendations for future projects.
Lastly, the project closeout phase includes documenting and archiving everything related to the project. Tenderwell allows project managers to do this with a single click while providing instant access at a later date to all files and documents related to the project in an easily searchable format. Tenderwell’s built-in privacy controls also ensure that all project documentation is securely archived according to relevant laws and regulations on data storage.
By effectively completing the project closeout stage, companies can ensure that all of the project’s goals and objectives were met, that relevant stakeholders are fully satisfied, and that the project has been thoroughly and successfully completed.
Due to all of these advanced features, Tenderwell is one of the most powerful and efficient apps on the market today. Tenderwell’s comprehensive suite of tools allows project managers to organize tasks, set milestones, track deliverables, and assess progress in real-time. And Tenderwell’s intuitive interface makes it a snap for project managers to make informed decisions on the fly while staying ahead of potential pitfalls and problems.
Get in touch with Tenderwell at tenderwell.app
