Microsoft Project is a project management software developed and sold by Microsoft. It is designed to assist project managers in developing plans, assigning resources to tasks, tracking progress, managing budgets, and analyzing workloads. Anything that has to do with managing projects can be done with this application. Project is part of the Microsoft Office family but it has never been included in Office suites. It is available in two editions, Standard and Professional.
Microsoft Project & Portfolio Management is a flexible tool for project portfolio management (PPM) with cloud-based and on-premise options. The integrated planning tools let you organize and follow projects, including daily tasks, overall progress, etc. Microsoft Project enables businesses to get started, manage project portfolio investments, and complete projects successfully. A powerful, visually enhanced way to efficiently manage a wide range of their projects. Stay on top of important deadlines and manage resources effectively. Project Professional delivers new as well as intuitive experiences to plan, manage, and collaborate with individuals and teams.
Project is comprised of three modules: project management, portfolio management, and resource management. Project has built-in templates, standard scheduling tools, and is accessible to both desktop and mobile devices. You also get project planning like Gantt charts and pulldown menus to simplify the planning phase. The portfolio management module allows you to model different scenarios to chart the best project path. Prioritize tasks and projects based on a set of rules. The module integrates with Power BI Pro, Microsoft’s business intelligence system, to help you consolidate data for in-depth analysis. The resource management module gives you a view of shared resources and teams can enter updates anywhere for real-time data.
This reduces the rate of idle resources. Microsoft Project allows users to create budgets based on assignment work and resource rates. As resources are assigned to tasks and assignment work estimated, Project will automatically calculate the cost, equal to the work times the rate, which rolls up to the task level and then to any summary tasks, and then to the project level. Resource definitions (people, equipment and materials) are easily shared between projects using a shared resource pool. Every resource can have its own calendar, defining when resources. Each resource can be assigned to multiple tasks in multiple plans. Each task can be assigned multiple resources. The application will schedule tasks based on available resources. The application has been used by many businesses successfully to take a project from conception to completion since its inception. If you have many projects and no way to manage them, Microsoft Project is the ideal tool for your company.
Other Features and Benefits:
- Project Portfolio Management
- Simplify IT management
- Give effective presentations
- Anticipate change
- Work seamlessly across tools
- Communicate in real time
- Stay organized
- Deliver projects successfully
- Improve everyday collaboration
- Access from virtually anywhere
- Select optimal portfolios
- Deliver projects successfully
- Discover and share information
The key purpose of Project is to start, manage and, effectively finish your company projects. With this in mind, you can think about Project like this:
- Planning, Executing, and Closing Projects — Define your projects, set parameters, and build a plan of action, then manage the budget for that project to stay on track. Dictate resources efficiently.
- Managing Teams — Help keep you team committed and moving forward. Provide motivation, set goals, and manage team input.
- Managing Expectations — Ensure your projects meet the goals of your business, communicate the status of your project, lay out your strategy, and set goals.
Compare Standard and Professional
Microsoft Project Standard and Microsoft Project Professional are only slightly different. You may or may not notice these differences, depending on your needs. If your company works with many different projects or very complex projects, you may want to invest in Project Professional. If you had a smaller company, last complex projects, or you don’t regularly have projects in the pipeline, you will be okay with the standard version of Microsoft Project. With Microsoft project professional, you will be able to use Skype for Business to collaborate. You will also be able to sync with Project online Project server. You can also submit timesheets to capture project and non-project elements such as payroll, invoicing, and other information for documenting a project.
As always, the choice you make depends on your needs and your budget. Just ask yourself a few questions. How many projects does your company run? How big are the projects your company runs? If you don’t run a lot of projects, you certainly don’t need the professional version of Microsoft Project. The standard edition of project will have everything you need. Yes, on the other hand, you find yourself buried in the little details of your projects, by all means buy the professional version of Microsoft Project.
When you’ve got a project, or several projects, that need to be managed, there really isn’t a better product than Microsoft Project. Microsoft Project 2019 is the current version of the product. There are lots of new features. Now you can manage resources, distribute workloads, and take your projects from start to finish on time and on budget. Project 2019 is better than ever. If you’re looking for great project management software, look no further than Microsoft project.