Here's Why Your Organization Needs Virtual Project Management

The advent of the COVID19 pandemic introduced the world to a previously mostly-unknown phenomenon: remote working. It is one of the primary reasons most organizations remained operational during the pandemic. And now, even after most businesses have fully opened their physical locations, owners continue embracing remote and virtual work. That is why solutions like virtual project managers are widely used today. If you want to discover more about virtual project management and its benefits, this piece is for you.

What is Virtual Project Management?

With virtual project management, individuals in different geographical locations can execute specific tasks and projects. They do this by using the internet and suitable project management software. In a nutshell, the primary role of a virtual project management team is to attain specific goals within a given period. The professionals responsible for remotely monitoring assigned tasks are called virtual project managers.

Reasons to Choose Virtual Project Management

Virtual project management has numerous benefits, including:

1.       Increased productivity

Virtual team managers have the opportunity to enjoy increased productivity. They can achieve this productivity by picking the right team, making timely and detailed communications, setting up ideal collaboration tools, and developing standardized work processes. Besides, when employees don't have to travel to and from work, attend long and strenuous meetings, handle mundane tasks like scanning documents, and waste time interacting with colleagues, they spend more time and energy on vital aspects of the businesses.

2.       Reduced business expenses

A physical office has numerous expenses. These can include rent or mortgage, utility bills, furniture and equipment acquisition and repair costs, supplies, and purchase of miscellaneous items like decorations. But virtual project management doesn't require a physical location. That means it helps your business avoid the costs mentioned above, consequently boosting the bottom line. And the best thing is, this solution enables you to do that without requiring you to change your business structure.

3.       Improved work-life balance

Work-life balance is essential in facilitating a healthy work environment, cutting stress levels, and preventing burnouts. Therefore, every company needs to improve work-life balance to ensure employees are happy and contented. Besides, healthy and happy workers are less likely to succumb to stress-related health issues like depression and obesity or quit and seek employment elsewhere. Virtual project management helps your team balance their professional and personal lives by offering them the opportunity to work at home while simultaneously spending more time caring for their loved ones.

4.       Access to global talent

According to research, 85% of millennials prefer full-time remote work. Since working with these individuals is crucial because they are highly educated, trainable, embrace technology, and come with new ideas and perspectives, you need to attract them in droves. The best way of doing that is by offering them the opportunity to work as part of virtual teams handling different projects. In addition, since virtual project management doesn't require people to be in one location, you can use it to exploit talent from anywhere in the world. 

For more information about how virtual project management can help your business, contact a company like project-assistant.com.