Understanding the Virtual Project Management

A lot has changed since the start of global remote work, but delivering projects on time, on budget, and on quality has been and always will be the main challenge every project faces. Thanks to the ever-evolving technologies, organizations can handle all critical tasks remotely and ensure timely completion through virtual project management (VPM).

What is virtual project management (VPM)

Virtual project management is a remote working method for following and monitoring tasks and activities in real time. Since the team members often work in different locations or time zones, virtual project management ensures everyone understands and meets the company's objectives. The main goal of the VPM remains to enable efficient and effective project management, despite the physical distance between team members.

The importance of VPM software

Virtual project management refers to the use of technology and digital tools to manage and organize a project, as well as communicate and collaborate with team members when all or some of them are working remotely. It is essential to invest in the right software, based on the company's needs, especially when working with teams in different locations and time zones. The VPM software helps to build high-performing virtual teams and allows smooth onboarding of all team members and sends updates on schedules, notifications, reminders, etc. The software is the focal point of the work process and management. VPM software can include tools such as project management software, video conferencing, instant messaging, and file-sharing platforms. Among the best project management software that can visualize, optimize and automate processes and improve results are nTask, G Suite, Microsoft Projects, Trello, Asana, Notion, Zoom, Bootcamp, Slack, etc. With such tools, project managers can also accurately track working hours and ensure each remote employee devotes an appropriate amount of time and energy to critical project deliverables.

The benefits of virtual project management

There are many benefits of virtual project management compared to standard methods. Managing projects virtually eliminates many other costs (e.g. operational costs) of doing work the traditional way, enabling organizations to save money without making drastic changes to their business model. Increased productivity is also a huge benefit of VPM, especially when employees have the freedom and support they need. Besides, remote working allows businesses to remain operational at all times.

VPM also enhances efficiency, saving time by avoiding routine tasks (physical meetings, too much paperwork, administrative tasks unrelated to work communication, commuting to and from the office every day, etc.) By ensuring employees have optimal work-life balance, virtual project management also improves employee retention rates. Finally, virtual projects remove geographical barriers, meaning team leaders can access international talent pools from anywhere in the world.