Swyvel project management software helps companies get their heads out of their a$$es Businesses are not just flying by the seat of their pants, they're flying in the dark.
TORONTO, Sept. 17, 2013 /PRNewswire-iReach/ -- You've seen it a million times. It's time for the company to decide how to allocate resources for the next year. The management team has been tasked with prioritizing the budget and projects to maximize revenues.
The company brings all the smartest people into a room to evaluate the opportunities. They pour over their project costing estimates and revenue forecasts to come up with the winning plan.
Their intentions are good, but they're actually making decisions using false information. They are assuming their cost estimates are accurate. Big mistake.
A study published in the Harvard Business Review, which analyzed 1,471 IT projects, found that the average overrun was 27%, but one in six projects had an average cost overrun of 200% and a schedule overrun of almost 70%.
The truth is, unless we have a detailed and granular understanding of the internal costs of our organizations, locking management in a room to make decisions about budget and resource allocation is a complete waste of time. They're effectively making decisions in the dark.
Jeffery Potvin, CEO of Swyvel says "Just as companies like Kissmetrics and Mix Panel are making it easier to track online ROI, Swyvel is enlightening decision makers to the true ROI of projects by tracking the exact costs to complete a project including every hour spent by internal resources. The benefits are two fold. Tasks and activities are managed all in one central location, and time spent is recorded without adding extra work or overhead."
Swyvel Allows Companies to Make Decisions on True ROI not Perceived ROI
Even the most seasoned project manager may not have accounted for every task and activity required to push a project to completion. Team members might be tracking time against tasks forecasted in the project plan, but the activities that take an employee down a rat hole, or off on a tangent go largely untracked skewing the real cost.
Track All Project Costs Including Internal Resources
Understanding the true cost of projects starts with data collection in the Time Tracking tool. Once you have a handle on your internal resources, you can make informed decisions on how to deploy resources for maximum profit using Swyvel's Resource Allocation module.
Collect Accurate Data Using Time Tracking
Using the Time Tracker module, employees can track ALL of their activities whether part of the initial project plan or not. While it may seem like overkill, studies show that employees like to see their progress clearly. They like to prove that while they haven't finished certain tasks, they were working towards them or were working hard on unanticipated tasks.
Track the Financial Health of Projects
All project costs generated in the Time Tracking or Invoicing modules roll up into Swyvel's Financial Reporting so managers can track and report on the actual costs of projects along the way.
Allocate Resources With Profitability in Mind
Using Swyvel's new Resource Allocation module, managers can see exactly which resources are available to deploy for certain projects and easily evaluate which resource is most cost effective.
Learn From Past Projects For Better Estimates
Using Swyvel, a project manager's cost estimates become more and more accurate over time as they begin to understand the true cost of adding features, fixing bugs and maintaining legacy programs.
Swyvel ultimately gives project managers a bird's eye view of active projects populated with accurate cost information collected from every member of the project team in a systematic way.
To learn more about Swyvel and Hardboot Inc., please visit: swyvel.com
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Swyvel is a cloud-based project collaboration tool that empowers teams to stay on track with easy and intuitive features like milestones, asset management, tickets and financials. It is an integral part of everyday project management across all verticals of business. Swyvel was built by Hardboot Inc.
About Hardboot Inc.
Hardboot Inc's talented team of project managers, designers and developers based in Toronto and San Francisco can manage the development of any digital project from mobile apps and e-commerce websites to complex databases and software applications.
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Media Contact: Laurie Freudenberg, Swyvel Inc., 1.855.479.9835 ext 704, email@example.com
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SOURCE Swyvel Inc.