Project tracking is one of the most important responsibilities you have as a project manager.
You should be able to provide an accurate project status report at any point in time, including how much real progress has been done in comparison to projected progress.
You should also be aware of what main tasks and milestones have been completed, as well as whether the project is on track to fulfill its deadline.
You may lose sight of looming deadlines that could affect project delivery if you don't have a project tracking system in place, and you'll be left scrambling when a higher-up wants a project update.
What is Project Tracking?
Project tracking is a technique for keeping track of and monitoring the progress of the tasks and activities associated with a project.
Project monitoring informs important workers about where a project is in its life cycle and whether it is on track for on-time, on-budget delivery and a positive return on investment.
Project monitoring also keeps project managers and stakeholders up to date on what activities and milestones have been completed, what resources have been used, and what adjustments are needed to account for unseen obstacles.
Why is Project Tracking Important?
To remain on top of a project's goals, deadlines, and current status, project managers, team members, and stakeholders need to track it.
Project tracking helps guarantee that deliverables are produced on time and tasks are completed according to schedule while managing large, complicated projects with several phases and milestones.
Project monitoring also guarantees that project managers be notified sooner rather than later if a project is deviating from its original plan.
A project tracker can also assist managers in pricing projects and recognizing possible barriers before they become major issues, thus saving time, money, and resources otherwise spent on corrective actions.
What are the Challenges of Using Project Tracking?
If you're new to project management tracking, you can encounter some difficulties.
Knowing what data and metrics to measure in the first place, as well as establishing baselines and objective goals for those indicators, maybe a challenge.
While it may appear to be a daunting undertaking, keep in mind that unless you're a massive corporation with unlimited resources, you won't be able to measure every single KPI.
The answer to overcoming this project tracking problem is to carefully select the KPIs you'll track.
Begin by meeting with key stakeholders to determine the business benefits the project will provide them with.
You'll have a decent sense of which KPIs to track progress toward those specific goals once you have this information.
In addition, pay attention to KPIs that you can measure and quantify.
Finding a system that can gather, organize, and provide simple access to all of the data you're monitoring is another challenge you can have when it comes to project tracking.
This is where project management software may help.
LeoSquad, a project management tracking application, can make your life easier by offering a centralized hub for all of your ongoing projects as well as a repository for organizing, storing, and sharing updates with team members, stakeholders, and other interested parties.