PMIS Overview: A Guide to Choosing a Project Management Information System - ARES PRISM (2023)

PMIS Overview: A Guide to Choosing a Project Management Information System - ARES PRISM (1)

Looking for a Project Management Information System (PMIS) can be overwhelming. This guide will help you navigate the process of what to look for in a quality, robust PMIS. Note that sometimes PIMS, project information management system, is used interchangeably with PMIS.

First, it is critical to conduct an internal audit of what systems and processes are in place already within the organization or project team to determine where there may be gaps. It helps to understand the current state to fill in the process and solution requirements still needed. Afterwards, it will be easy to determine which functionalities aren’t currently being met in order to better deliver projects on-time and on budget, and the search for a PMIS solution that will help fill those needs can begin.

What is a PMIS?

The Project Management Book of Knowledge PMBoK® Guide describes a PMIS as “An information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes. It is used to support all aspects of the project from initiating through closing, and can include both manual and automated systems.”

No matter the scale of a project, it has information and data that needs to be managed and organized. As a project progresses, so does the amount of information surrounding it. A system that helps project managers control and deliver project information becomes essential. A project management information system (PMIS) enables project professionals to easily plan and track project progress in all stages of its lifecycle.

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A good PMIS will collect all project data and information from various sources, spreadsheets, and systems to be the one source for all project data for the project management team. Sometimes individuals will incorrectly picture a document center as a project management information system, however it should be much more than a collection of project files and documents.

The 6 Key PMIS Features & Functions

PMIS Overview: A Guide to Choosing a Project Management Information System - ARES PRISM (2)

Requirements for selecting a PMIS will vary depending upon an organization’s operational requirements. Likewise, most project management information systems differ in scope, design, and offered features, but it is important when choosing a PMIS system that it at least has the following six features and capabilities:

  • Planning & Scheduling
  • Budget & Estimating
  • Resource & Procurement Management
  • Cost Management & Project Performance
  • Progress Reporting
  • Data & System Integration

1.) Planning & Scheduling

A PMIS will be able to plan and compute the project’s schedule and its critical path whether by built-in scheduling functionality or through built-in integration to a scheduling application like Microsoft Project or Oracle Primavera P6. A PMIS will be able to create or import a project’s specific schedule, as well as define the scope baseline.

2.) Budget & Estimating

A quality project management information system is capable of associating project cost with individual tasks or items to generate more accurate budget estimates. A PMIS needs to combine project cost estimating, forecasting, cost data and schedule information in order to determine accurate project progress and performance. Having this data together in one system allows for managing project costs through the process of planning, estimating, and controlling a project’s budget; it ties in very closely with Cost Management & Project Performance below.

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3.) Resource & Procurement Management

It is important for a PMIS to have functionality to manage the complete procurement process since resources and procured items are a large portion of a project’s cost and preliminary budget.

4.) Cost Management & Project Performance

A solid PMIS enables project managers to control project cost and performance. It will allow for updating existing plans as actuals against planned data changes, and provide what-if scenarios to them while tracking and managing all project changes.

Planned value, earned value, and actual costs, allow for calculating additional project values that indicate the project’s current status and performance from either a budget perspective or from a schedule perspective.

Using the above values, project managers can also determine the project’s current status through to the end of the project using the following Estimate to Complete (ETC), Estimate at Completion (EAC), Variance at Completion (VAC), and To-Complete Performance Index (TCPI).

5.) Progress Reporting

Built-in project progress reporting is crucial for saving project managers time, while giving them the necessary tools to create and send reports tailored to the various audiences (whether team members or stakeholders). A PMIS will have the capability to create and share reports of collected and analyzed data.

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6.) Data & System Integration

It is important for project management information systems to bring all project data together to eliminate data silos. A PMIS needs to be able to integrate with other applications or software systems (i.e. payroll, inventory, ERP, scheduling systems like Primavera P6, etc.). This system integration allows for accessing data from different projects for multi-project analysis and bridging gaps between systems and applications needed to have all project information in one place.

A More Robust & Scalable PMIS

Each of the six key core functionalities above are minimum baseline components of a true project management information system and should be considered when seeking out a PMIS. There are many solutions (ARES PRISM being one of them) that offer this functionality plus more for well-rounded project management.

ARES PRISM is a PMIS with additional key functionality that enables project organizations to be more scalable as their company grows. With critical capabilities such as contract management, field management, engineering management, portfolio management, and project carbon estimating, there is a ready-made solution for you when you need it.

With a recognized global presence, ARES PRISM is a multi-currency and multi-language project controls and management solution. It is also flexible in licensing; organizations are able to purchase the amount of licenses needed rather than requiring a license minimum.

Change Management

Each ARES PRISM project management module can perform change management, so that no matter which module(s) are implemented, all project changes are tracked and can be traced back to a single source of truth. This powerful change management solution provides organizations with a complete and auditable system for tracking cost and schedule changes to the project’s baseline and forecast.

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Time-Phased Budget & EVM

It is important that a PMIS has schedule data alongside the project’s cost data so that it can be time-phased and used to measure progress. Likewise, these data sets are critical for earned value management, though not all PMIS can do Earned Value Management (EVM). Our cost management module, PRISM Cost, supports all required project cost processes from budgeting, time-phasing, EVM, change management, risk tracking, funds allocation, and forecasting.

Within PRISM Cost, project and cost managers can create unlimited control accounts to manage project data at the level of detail they desire. It allows for establishing time-phased budgets to represent cash flow plans for projects while creating and managing workflows. Users can plan and forecast resources by reporting period, and enterprise reporting periods can be used for enterprise cash flow analysis and implementation of change management processes to maintain control of scope and cost. It also acts as a risk warning system; project managers can intervene and make corrections early as the cumulative Cost Performance Index (CPI) and the Schedule Performance Index (SPI) act as early warning signals for project risks.

Executive Reports & Dashboards

Running reports to assess whether projects are hitting specified criteria, targets, and benchmarks lets project managers know immediately if a project is over or under-performing. Progress reporting is how project teams know how the project is progressing and how stakeholders are informed of progress and performance. As such, ARES PRISM offers more than 200 built-in standard project management reports. Also, PRISM Dashboard is available for executive level reporting via a series of pre-designed dashboard views based on industry best practices. This module allows for access to an overall enterprise view and project-specific views.

Easily accessible project data saves time and money, significantly speeding up month-end reporting while reducing errors and manual data validation and greatly improving report accuracy, consistency, and standardization. All of this leaves more time to analyze project data and critical decision-making.

Procurement

In addition to the minimum Resource and Procurement Management capabilities described above, project managers can do even more with ARES PRISM. PRISM Procurement enables project organization to manage resource planning, staff planning, requisitions and purchase orders, handle the scheduling of procurement, expediting shipments, and supplier evaluations.

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Integration

ARES PRISM has built-in integration to Oracle Primavera P6, MS Project, and MS Excel out-of-the-box. In addition, the PRISM Integrator module provides bi-directional integration to nearly any existing legacy system or financial system that an organization has. This enables an organization to pull all its project data together and automate data flow within its software tools.

PMIS Closing Takeaways

It is essential for project organizations to choose a PMIS (like ARES PRISM) to help manage their data and project information to save time, money, and avoid risks in manual data duplication efforts. We know that collecting, organizing, and analyzing project information is critical to delivering projects on schedule and on budget. When looking for a project management information system, be sure to consider a solution that is quick to implement in order to swiftly see return on investment, as well as a tool that is scalable that can grow with your organization.

FAQs

How do I choose PMIS? ›

There is no one-size-fits-all PMIS solution. Each client's needs are different and each PMIS has diverse capabilities (and drawbacks) from others.
...
Key considerations can include:
  1. Scale. Will this be used to manage one project, a few, or an ongoing portfolio?
  2. Function. ...
  3. Users. ...
  4. Data governance & security. ...
  5. Mobility. ...
  6. Budget.

What is Project Management Information System PMIS )? What are its uses? ›

A PMIS is a software program or application that organizes and controls the flow of project data and information. Project managers use a PMIS to plan, monitor, and execute their project deliverables more efficiently, without getting overwhelmed with data.

What is true about the PMIS? ›

When planning a project, PMIS helps with scheduling details including task and critical path analysis. It supports cost management planning including WBS analysis and integration of control processes. PMIS also proves beneficial to the project manager when resource planning in terms of availability and level.

What are the five processes used in the PMI methodology? ›

Demystifying the PMBOK Process Groups
  • Generally speaking, projects require five process groups — initiating, planning, executing, monitoring and controlling, and closing. ...
  • The Project Management Institute (PMI) created the PMBOK (Project Management Body of Knowledge).
9 May 2022

What are the 5 main types of management information systems? ›

What Are The Types Of Information Systems?
  • Knowledge Work System. ...
  • Management Information System. ...
  • Decision Support System. ...
  • Office Automation System. ...
  • Transaction Processing System. ...
  • Executive Support System.
14 Jul 2022

What are the benefits of PMIS? ›

The Core Benefits of a Project Management Information System
  • Project Management Information Systems Improve Collaboration. ...
  • Project Management Information Systems Enable Agile Processes. ...
  • Dedicated Systems Help Your Project Stay on Schedule. ...
  • You Can Track Project in Detail. ...
  • Project Management Systems Allow for Fast Reporting.

What is PMI model in project management? ›

PMI stands for the Project Management Institute, a not-for-profit professional membership association for project managers and program managers. PMI was started in 1969 and now has a membership of more than 2.9 million professionals worldwide.

What are the four types of management information system? ›

The Main 4 Types of Information Systems Used In Organisations
  • Low level workers – Transaction Processing Systems.
  • Middle Managers – Management Information Systems.
  • Senior Managers – Decision Support Systems.
  • Executives – Executive Information Systems.
7 Sept 2021

What are the values of PMIS? ›

At PMI, we believe in:
  • Project Management Impact. Project management is a critical competence that has a positive influence on organization results and society.
  • Professionalism. Accountability and ethical behavior ensures our commitment to PMI stakeholders.
  • Volunteerism. ...
  • Diversity, Equity, & Inclusion. ...
  • Community. ...
  • Engagement.

What are the common challenges to implementation of PMIS? ›

The main challenges found included lack of perceived usefulness, unsatisfactory facilitating condition, fear of the PMIS, lack of sustained management support, politics, and high staff turnover.

Is Microsoft Project a PMIS? ›

Microsoft Project Online – Project Management Information System (PMIS)

Why is project management important PMI? ›

Organizations turn to project management to deliver results consistently, reduce costs, increase efficiencies and improve customer and stakeholder satisfaction. Strong, organization-wide commitment to project management yields long-term business value and competitive advantage.

What are the 10 knowledge areas within the PMI Body of knowledge? ›

The 10 Project Management Knowledge Areas (PMBOK)
  • Project Integration Management.
  • Project Scope Management.
  • Project Time Management.
  • Project Cost Management.
  • Project Quality Management.
  • Project Human Resource Management.
  • Project Communications Management.
  • Project Risk Management.
27 Nov 2019

What are the six 6 types of project management methods? ›

Specific examples of project management methodologies – each with its unique advantages and limitations – include, but are not limited to Agile, Waterfall, Critical Path, Scrum, Lean Six Sigma and PRINCE2.

What are the seven 7 processes of project time management? ›

The seven processes in the Project Time Management knowledge area are:
  • Plan Schedule Management (Planning process)
  • Define Activities (Planning process)
  • Sequence Activities (Planning process)
  • Estimate Activity Resources (Planning process)
  • Estimate Activity Durations (Planning process)
  • Develop Schedule (Planning process)

What are the six elements of MIS? ›

The six basic functions of information systems are capture data, transmit data, store data, retrieve data, manipulate data and display information.

What are the 3 key elements of a MIS? ›

the evolved for the purpose of providing information to the people in the organization. information systems in that they are used to analyze other information systems applied in operational activities in the organization. MIS involve three primary resources: technology, information, and people.

What are the 4 components of a MIS? ›

Following are the four components of MIS:
  • Internal record:
  • Marketing intelligence system:
  • Marketing decision support system:
  • Marketing research:

What are the 4 main processes of project management? ›

Whether you're in charge of developing a website, designing a car, moving a department to a new facility, updating an information system, or just about any other project (large or small), you'll go through the same four phases of project management: planning, build-up, implementation, and closeout.

What are the 3 S's of project management? ›

Scope, schedule, cost.

What are the 4 parameters of project management? ›

When it comes to project management, these four factors – time, cost, quality and quantity – constitute the most important parameters.

What are the five benefits of information systems? ›

Other advantages of information systems
  • operational efficiencies.
  • cost reductions.
  • supply of information to decision-makers.
  • better customer service.
  • continuous availability of the systems.
  • growth in communication capabilities and methods.

What are the 7 phases of a project? ›

Take a look at the seven stages of the project management lifecycle to achieve optimal results regardless of your industry.
  • Planning. Also called initiating, the planning stage is the most important part of the project management lifecycle. ...
  • Analysis. ...
  • Design and analysis. ...
  • 4. Development. ...
  • Testing. ...
  • Implementation. ...
  • Maintenance.
11 Jul 2022

What are the 7 steps of project planning? ›

7 Steps To Project Planning Success For Project Managers
  • Tip 1: Establish clear goals for the project. ...
  • Tip 2: Set expectations up front. ...
  • Tip 3: Outline potential risks and how you'll manage them if hazards arise. ...
  • Tip 4: Minimize the number of meetings. ...
  • Tip 5: Plan the perfect kickoff meeting.
8 Feb 2019

Is PMI a framework or methodology? ›

Answer: PMI or the Project Management Institute developed a framework containing guidelines for project management professionals. The PMI framework involves a well-defined set of techniques, tools, processes, rules, and methodologies that promote best practices in project management.

What is the full form of PMIS? ›

Personal Information Management System (PMIS) is a package developed to capture personal information of the employees who are working in Dept.

Which are 3 of the 5 challenges of implementing information systems? ›

Information Management Challenges
  • 1- Lack of Unified Best Practices.
  • 2- Digitizing Information.
  • 3- Automating Processes.
  • 4- Manage Information Growth.
  • 5- Securing Information.
14 Nov 2022

What do you think is the major problem why PMIS fails? ›

A PMIS will fail without the expertise of the right team that knows both construction and how to implement software. The solution lacks a unified vision.

What are the PIM key challenges? ›

5 Main Challenges of PIM Integration with eCommerce Platforms
  • The Short Answer: A PIM radically changes your capacity to manage each product push to ecommerce. ...
  • Weak Data. ...
  • Multiple companies in play. ...
  • It makes PIMs more expensive. ...
  • An overly-complex PIM is an ineffective PIM. ...
  • Memory and speed.
21 Jan 2021

Is Excel use in project management? ›

Microsoft Excel is often used as a simple project management tool by project managers working on small- or mid-sized projects to help visualize, plan, and monitor progress.

What is MS Project now called? ›

Comparison of Microsoft Project Plans

Similarly, Microsoft is renaming the Project Online Professional plan to “Project Plan 3” and Project Online Premium plan to “Project Plan 5.”

What is the most important role of project management? ›

Broadly, a project manager is majorly responsible for creating a team that is able to work autonomously. They have to take care of every possible parameter, from resources to risks, from laying the foundation of a project to getting a team to work for a shared goal.

What is the most important thing in project management? ›

If innovation is required to be successful, the most important job of a PM is to nurture an environment where the team can innovate. To do this, the PM must communicate with team and stakeholders throughout the project; focus on solving problems, and create space for failure.

What are the 49 processes in PMP? ›

49 Processes: PMP
Process GroupsPlanningClosing
Project Quality ManagementPlanning QualityControlling Quality
Project Resource ManagementPlanning Resource Management Estimating Activity ResourcesControlling the Resources
Project Communications ManagementPlanning Communications ManagementMonitoring Communications
7 more rows
30 Mar 2022

What are the 3 PMP domains? ›

What are the 3 performance domains in project management? Domain I: People. Domain II: Process. Domain III: Business Environment.

What are the important features of project plan? ›

Elements of a project plan you shouldn't overlook
  • Outline business justification and stakeholder needs. ...
  • List of requirements and project objectives. ...
  • Project scope statement. ...
  • List of deliverables and estimated due dates. ...
  • Detailed project schedule. ...
  • Risk assessment and management plan. ...
  • Defined roles and responsibilities.
2 May 2022

What are the features of information system? ›

An information system is described as having five components.
  • Computer hardware. This is the physical technology that works with information. ...
  • Computer software. The hardware needs to know what to do, and that is the role of software. ...
  • Telecommunications. ...
  • Databases and data warehouses. ...
  • Human resources and procedures.

What are the features of project report? ›

The project report includes comprehensive information on the necessary land and buildings, annual manufacturing capacity, manufacturing process, machinery and equipment prices and specifications, raw material requirements, power and water requirements, manpower requirements, project marketing costs, efficiency, ...

What are the features of project control? ›

What Are Project Controls?
  • Aligning projects with portfolio/organization goals and objectives.
  • Developing a work-breakdown structure (WBS)
  • Collaborating on initial project schedules.
  • Developing a risk management plan.
  • Project budgeting and forecasting.
  • Monitoring project costs.
  • Feedback and reporting.

What are the 7 elements of a project plan? ›

Let's dive into the details:
  • Step 1: Define your goals and objectives. ...
  • Step 2: Set success metrics. ...
  • Step 3: Clarify stakeholders and roles. ...
  • Step 4: Set your budget. ...
  • Step 5: Align on milestones, deliverables, and project dependencies. ...
  • Step 6: Outline your timeline and schedule. ...
  • Step 7: Share your communication plan.
13 Jul 2022

What are the four main function of an information system? ›

Information systems allow users to collect, store, organize and distribute data—functions that can serve a variety of purposes for companies. Many businesses use their information systems to manage resources and improve efficiency.

What are the four main concepts of an information system? ›

An information system (IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. From a sociotechnical perspective, information systems are composed by four components: task, people, structure (or roles), and technology.

What are the four main components of an information system? ›

The main components of information systems are computer hardware and software, telecommunications, databases and data warehouses, human resources, and procedures.

What are the 10 main components of a report? ›

The key elements of a report
  • Title page.
  • Table of contents.
  • Executive summary.
  • Introduction.
  • Discussion.
  • Conclusion.
  • Recommendations.
  • References.

What are the 3 main parts of an information report? ›

A basic information report will typically consist of three parts: an introduction, a body paragraph, and a conclusion. The introduction is where the topic is introduced and the thesis statement is given.

What are the 5 variables of project control? ›

That there are six project control variables namely cost, time, scope, quality, benefits, and risks.

What are the 3 project control methods? ›

The 5 project management controls
  • Schedule. Increasing visibility into your project schedule helps you know you're proceeding along your project timeline. ...
  • Resource. Every project depends on resources—things like time, money, or project team member availability. ...
  • Risk. ...
  • Change. ...
  • Performance.
28 Oct 2022

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