<b>Project Tracking Software Tracks Key Progress Indicators</b>

It is tracking the progress indicators that help project managers implement projects in time. And project-tracking software can make this process dependable, timely and less costly. So what does project tracking software track?

To start with, it can track historical project data such as:

<ul>
<li>Standard times taken to complete typical activities involved in executing projects, such as the time taken to excavate 100 cubic meter of earth or tile 1000 square meters of flooring</li>
<li>Standard consumption patterns of materials, including wastage, such as cement and steel requirements for constructing 100 square meters of reinforced concrete wall of a certain thickness</li>
<li>Historical cost levels and inflation trends for different inputs such as materials, labor and subcontracted work</li>
</ul>

The above kinds of historical data will prove invaluable for making realistic estimates for new projects. And realistic estimates can mean the difference between winning contracts at remunerative rates, and either losing the project or getting it at non-remunerative rates.

Additionally, realistic estimates can serve as standards to compare actual performance when the project gets under way.

<b>Tracking Actual Performance</b>

Project tracking software can accumulate the times taken to complete specific activities involved in the project. More significantly, it can track the performance of individual employees to fix accountability for slow progress or reward performance that exceeds targets.

Cost performance is also tracked and analyzed. Where cost overruns are noticed, an analysis can indicate underlying factors. Costs might have increased because of increase in input costs, such as material prices or labor rates. Or they might be the result of wasteful use of materials or low labor productivity. The latter can be controlled to some extent through better practices and/or employee training.

It is this kind of tracking, and comparing performance against standards, that makes it possible to control project implementation and complete it by target date and to avoid cost overruns.

<b>Track Billable Work and Hours</b>

Long-term projects typically involve progress billing, i.e., bills are prepared and submitted, say, every month, for the work completed during that month. In such a context, it becomes important to precisely record the quantity of work completed each month, and track unbilled work. Progress tracking software with tailor made facilities can do this best.

<b>General Facilities of Project Tracking Software</b>

Good project tracking software would incorporate facilities for such things as:

<ul>
<li>Managing a portfolio of projects for companies engaged in executing multiple projects</li>
<li>Customizing different facilities to suit particular requirements, such as custom reports that provide just the information managers need</li>
<li>Integration with other leading project management software so that data accumulated under the other software can be worked with</li>
</ul>

<b>Project Tracking Software</b>

Project tracking software can be Web-based or downloadable/deliverable packages. You install the latter kind of software into your system while Web-based applications make it possible to access and use it from anywhere with an Internet connection. Web-based systems can also expect better levels of support, in addition to making available the latest facilities as the software is upgraded.