The truth about your virtual workspace

Mavenlink CEO and co-founder Ray Grainger’s newest report, Turning Projects into Profits: Five Trends Transforming The Future of Services Delivery, details how best practices in delivering project work must evolve to keep up with the shifting business ecosystem. Project management technology is fast outpacing our collective paradigm about the vital role of project work within a business. It’s time to catch up.

Pulling from his depth of experience as a global managing partner at leading technology consulting firm, Accenture, Ray outlines five critical concepts to view your projects as a dynamic platform to scale your business to literally any size you want.

One of these key concepts is the changing nature of where project work is being completed. Bringing people together is vastly different than it used to be. Work is increasingly done in open and collaborative online environments, the project is a virtual workspace.

"The concept of an online venue in which to meet for work purposes is a relatively recent trend, yet it’s one that is accelerating at lightning speed,” Ray writes in the report. 

Corporations are reorganizing their internal systems and adopting new technologies as social networks and online business environments converge. But don't confuse this with taking your project delivery team to a new virtual work reality. If you have clients, and continue to only collaborate with your internal team in virtual environments, are you really seeing the benefits? 

Sophisticated project management software platforms today are taking the idea of virtual workspaces a step further to truly mimic offline environments, extending the use case to accommodate outside clients and commercial service providers. Having one, unified collaboration venue has tremendous business value. It increases transparency and communication. It allows project delivery teams to be more nimble. It improves outcomes.

“Technology is finally taking real-world requirements for project management and applying them to the capabilities of an online workspace,” writes Ray.

The key success factor is the platform's ability to mimic real-world collaboration needs around privacy and permission settings. Where you might meet with a couple people on the project about a particular topic, not an entire team, you need to have the ability to target and restrict communications in your virtual workspace. Similarly, you may not want all the project financials visible to all parties. It’s critical that online workspaces have different view settings and give project managers peace of mind that the right information - and only the right information - is getting to different online collaborators.

Turning Projects into Profits: Five Trends Transforming The Future of Services Delivery details how the changing role of the project platform addresses these pain points. To learn about all 5 trends, including treating your projects as individual P&Ls, integrating your plans and proposals from project day 1, and building a network within your projects, download the free new ebook today.

New to project management? This book is for you! To dive fast into the world of projects and accounting, you might also find this glossary interesting: it's got every project management and financial accounting term you'll ever need to know in one quick pass