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This article will be explaining the key ways an ERP system helps business enterprises to streamline and manage their projects to achieve resource optimisation.

The most difficult thing yet for enterprises is to manage their project so that each resource are used in an optimised way. Many are considering ERP as a highly proven tool to help businesses in project management.

But, what does project management mean?

“Project management is getting an objective of a business fulfilled in a systematic manner. So, there’s is an objective and certain variables which can be controlled in any way from the start to get that objective attained.” And, ERP is a tool that helps the project managers in that, i.e. controlling the variables in a most systematic, optimised and timely way.

Here’s how can an ERP software be a friend for business along their project management journey.

Tracking project costs

Costs of every stage and every aspect of the project can be estimated and assigned to a particular project. It will include costs for labour hours, cost of raw materials, purchase orders, costs of subcontractors, costs related to inventory accumulate, and so forth. The ERP system will first identify the areas in which costs have to be incurred and then evaluate the cost expenses accordingly.

Gives a unified data source

Successes in project management come when business entrepreneurs give a common database to all involved in the project. They must be able to communicate in the same language and state all the benefits of the project in terms which ERP could understand. The ERP would be able to connect the different team members of the project using ERP-specific parameters or code. Data of accounting to match the actual costs with the budget is also stored in the ERP system.

Focuses on the members handling the project

The purpose of ERP is to help everyone from project managers to task executors by keeping data of resources availability and costs within their hands’ reach. By providing real-time information of everything of the project which helps them to better allocate the resources for different tasks in the life cycle of the project.

Provides a tool for BI

The ERP is built with Business Intelligence (BI) tools which help the members involved in the project to report on different tasks instantly. Also, they could set up project milestones, interim goals and other achievements with dates and time. That would help them to complete the project wisely within the decided time-period.

These explain how will an ERP system help businesses that require project management inevitably at regular intervals. With inherent tools and systems, it acts as a supreme task coordinator and manager to the members who are designated for the project. These functionalities will not just help them well manage the resources at the disposal of the project, but will also see to it that the objectives are met with absolute accuracy to the costs and budget requirements.

Johan Smith is an experienced Odoo consultant in Brisbane at GetAProgrammer, a preeminent IT and software solutions provider in Australia that offers great ERP solutions to businesses, addressing their every need, from POS, accounting inventory to project management.