Is your project able to achieve the desired results up to your expectations? Or how can you tell whether the project is already halfway complete? You might need to calculate the percent complete. It might sound familiar to most project managers since it is an essential part of capacity planning and resource management. The good news is that calculating percent using outdated methods is now being replaced by special tools. That’s right, companies nowadays rely on comprehensive resource management software to calculate percent complete, plan resources, and forecast project estimates.
Before we dig into the capabilities of this software, let’s learn in detail about calculating the project completion percentage.
What is Project Percent (%) Complete?
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A project completion percentage is calculated by dividing the total duration of a project by the number of jobs performed so far. It allows you to track how far your team has completed their assignments/tasks for a particular project. In simpler terms, it shows how much work has been completed and how much work remains to be completed. It is also known as the project completion percentage %. This gives project managers the information they need to determine whether their team is on track with the project timeline.
Importance of Calculating the Percent Complete in resource management
So, why do we need to calculate the percent complete first? Well, knowing the percentage of completion is significant for a variety of reasons, such as:
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Streamlines project management: It supports the task management plan, a procedure for monitoring your team’s work from beginning to end. Knowing how much work the team has completed at any particular point in the project allows project managers to determine whether or not the work is on track.
Track real-time progress: As a manager, you can easily track progress by percent complete. Percent complete is also the core of a capacity planning tool, dedicated software to track the team’s progress in fulfilling their tasks. Many of these applications provide real-time data, allowing for a more accurate rendering of the percentage complete.
Better resource allocation: Apparently, the percentage of work completed is linked to effective resource management. Knowing whether the team is behind or ahead of schedule affects how you allocate resources. For example, if the percent complete shows that tasks are falling behind schedule, the project manager might reallocate resources to get the project back on track!
Helps in capacity planning: Capacity planning determines how many resources are required to meet changing demand. As a result, if the current % complete is not satisfactory with the available resources, you may deploy extra resources to compensate for the delay or gap.
Calculating the percent complete in a project
Percent Complete is a time-based metric, calculated using the formula:
Let us use the old-age practice by assuming examples to comprehend better.
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Example 1: If a task has a five-day duration and two and a half days have been completed (two and a half days of the actual period), the Percent Complete will be 50% since 2.5/5 =.50.
Example 2: If your project has 25 tasks and your team has finished 12, divide 12 by 25 to calculate the completion %.
Typical corporate reporting methods such as spreadsheets, charts, or modern capacity planning tools are used to calculate these metrics.
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How can resource management software help?
Although spreadsheets and charts have been used in the past, they are only partially accurate. No wonder 52% of project managers and resources are somewhat or very dissatisfied with their organization’s current level of project management maturity. Thus, it’s high time to switch to resource management software. It features sophisticated Gantt charts that automatically determine the percent complete for each task. Because it works with internet connectivity, the % complete is displayed in real-time. Hence, you’ll have real-time updates about the current data, not a previous project snapshot! Sounds so smooth, isn’t it?
In addition, you may track the % complete once you have generated a project plan on our Gantt and set the baseline. This captures the schedule, prices, and more, so you may get the variance of your actual effort against your intended action. This data is supplied in real time across the software to help you stay on track with your project.
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Meet the all-in-one capacity planning tool
Overall, we know how percent complete plays a vital role in resource management. From tracking project progress to effective capacity planning, you can use these metrics to make better decisions. That’s why the eResource Scheduler has covered you with its all-in-one solutions.
It is the ultimate resource management software with robust tools like Gantt sheets, timesheets, financial insights, and management reports. It automatically calculates the percent complete and keeps an eye on other essential project tasks. Say goodbye to outdated and inaccurate project tracking methods and switch to a smart capacity planning tool. Need a hand with your next major project? Get your hands on eResource Scheduler today.
Heana Sharma: A rising talent, Heana boasts 2 years of versatile content writing experience across multiple niches. Her adaptable skills result in engaging and informative content that resonates with a wide spectrum of readers.
In this digital age, everything is changing rapidly due to emerging technologies. Nowadays, artificial intelligence (AI) is improving customer experiences, and focuses more on personalization by evaluating the behavior, and preferences of the customers. It is also greatly beneficial for the accumulation of reward points, as it can suggest effective ways to maximize your reward point values, according to your previous redemption options. Generative AI is now able to guide you on, how to spend your credit card reward points. It also provides advice on, how to book flights in exchange for rewards points.
Use Of AI For Maximum Reward Points
Artificial Intelligence (AI) utilizes tasks based on human intelligence, recognizing patterns and predicting them based on these recommendations. You can gain more benefits, by applying AI and ML to loyalty programs. It can improve customer segmentation, and personalization by evaluating user behavior, and preferences. This helps you in providing more personalized offers, and rewards that you can earn easily.
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These technologies also enable you to identify various methods to earn more points. These methods include the automation of some tasks, from which you automatically gain reward points such as paying monthly bills automatically, applying for sign-up bonuses, and reaching the threshold of quarterly spending.
How To Redeem Points for Maximum Value Using AI
With the help of generative AI, everyone can get maximum points using reward credit cards, to redeem for traveling or other services. AI is now suggesting custom travel packages, based on the user’s preferences like travel destinations, specific dates, likings, etc. These suggestions are also beneficial in improving the user experience, with the development of reward programs. Here are some methods to redeem maximum reward points with the help of AI:
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Social Media Incorporation
Social media consists of a large amount of user data, and everyone loves to upload their activities and preferences on it. AI can evaluate this data, by asking for user permission, and identify the user’s likings and his everyday life. With this data, AI can suggest relative exchanging options, that suit you best, based on your activities. For example, if you post about outdoor activities on social media, AI will suggest redemption options related to them, like traveling, dining, hiking, etc. These also improve the user experience, by providing more engaging and relative redemption options.
Effective Guidance Of Spending Reward Points
Generative AI is extremely helpful in guiding you, on how to spend your reward points for maximum value. You only need to write a prompt, and add some other preferences that you want in it, and it will generate a response related to it with complete guidance. It also suggests some places, where you can redeem your reward points effectively. You can also obtain information about a specific service, by knowing how much they value your reward points, and what their services are being offered in exchange for reward points. All this data generated from AI is based on reality, as it has upgraded algorithms, that are beneficial in achieving real-time data.
Suggest Specific Credit Cards
AI can also help you, to use specific credit cards for redemption options, by suggesting which one suits best for maximum value. It is highly beneficial for those, who hold multiple credit cards and do not know, which card they can use for redemption, to achieve maximized value. You can also get help from AI, in this matter by asking about your credit cards, which gives more value for specific services.
Certain credit cards are specifically for limited services, where you can redeem your points. Some offer redemption options on services, like dining and other hoteling services, traveling, groceries, etc. Some companies provide services based on the type of credit card you hold, as enterprise credit cards have more value for their reward points.
Evaluate The Value of Credit Card Points
In the past, every credit card point held the value of 1 penny each, but nowadays these values vary over time from 0.2 cents to 2.8 cents. Some card issuers tell their users about the value of their points, when they are useless, or have a minimum value. You need to have complete knowledge about, how much value your points hold currently. AI assistants can guide you, by providing extensive information, and telling you the average value of the reward points considered throughout the world these days. These assistants are integrated with various algorithms, and are capable of gaining information from various financial websites, to discover an overall average value. It helps you in not redeeming your reward points, when they hold an extremely low value.
Effective Planning Of Redemption Options
There are so many AI services available on the internet, that guide you according to your prompts. These services provide you with complete information on the service, which you want to receive in exchange for your reward points. These assistants provide good recommendations about numerous company services, based on their charges and values, offered for reward points redemption. You can save most of your reward points, by receiving effective information about every service provider. You can plan for your vacations or business trips from this information, based on the offered values on your reward points. Your reward points value will be determined, according to the service provider you choose, as some services cost more reward points and some are less expensive. Some AI assistants also helps credit card users save and make money online with their cards.
Final Thoughts
You can extract the most beneficial information from various AI models. These are extremely helpful for you, to redeem your reward points for maximum value. These models suggest numerous exchange options according to your interests, and preferences. AI also prevents you from wasting your reward points for extremely low cost.
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There are numerous card-monitoring applications, integrated with AI models, that offer some automatic tasks like signing up for bonuses, reminding you about the points, that are near expiration, paying monthly bills automatically, and applying for quarterly bonuses. There will be more advancements in the future, that will enhance the reward points further. Many companies are partnering with credit card issuers, and offering its services as a redemption option which results in maximizing the value of your reward points.
In a groundbreaking development, Samsung has announced the creation of the industry’s first low-power double data rate 5X (LPDDR5X) DRAM chip for AI applications. The new chip boasts high performance of up to 10.7 Gbps, marking a significant improvement in both speed and capacity compared to previous models.
Low-power, high-performance LPDDR chips are becoming increasingly important in the on-device AI market. Samsung’s latest LPDDR5X products, developed with 12 nanometer-class process technology, are the smallest in size among existing LPDDR chips, further cementing the company’s position as a leader in the low-power DRAM sector.
A company spokesperson stated, “Samsung will continue to innovate and deliver optimized products for the upcoming on-device AI era through close collaboration with customers.” Mass production of the LPDDR5X is set to commence in the second half of the year, pending verification by mobile application processor and device providers.
The unveiling of Samsung’s LPDDR5X DRAM chip represents a significant step forward in the field of AI technology. The chip’s impressive performance and capacity enhancements are expected to further drive the adoption of on-device AI solutions in various industries. This groundbreaking innovation is sure to set a new standard for memory solutions tailored for AI applications.
New Delhi, April 17 (IANS) – Zoho Founder and CEO, Sridhar Vembu, revealed that Prime Minister Narendra Modi expressed interest in Zoho’s rural development model in Tenkasi district, Tamil Nadu during his recent meeting. PM Modi praised the company’s efforts in creating high-tech capabilities and jobs in rural areas.
During an election rally in Ambasamudram, PM Modi met Vembu to discuss Zoho’s rural development through R&D model. Vembu expressed gratitude towards PM Modi for taking the time to understand and appreciate the company’s operations in Tenkasi as a model of rural development.
“PM Modi came to Ambasamudram which is close to my village. Even in the middle of his hectic campaign schedule, he gave me time to meet him and brief him on our rural development through R&D model and on creating high-tech capability and jobs in rural areas,” Vembu shared on social media.
Vembu highlighted that PM Modi showed keen interest in Zoho’s Tenkasi operations. He praised the Prime Minister’s leadership and expressed his support for his continued health and service to the nation. Zoho, founded in 1996 and headquartered in Chennai, employs over 15,000 individuals globally.
During his rally in Ambasamudram, PM Modi criticized the DMK in Tamil Nadu, alleging that they conspired with the Congress to hand over the Katchatheevu island to a foreign nation. PM Modi emphasized his commitment to developing a ‘Viksit Tamil Nadu’ along with a ‘Viksit Bharat’ for overall progress.
The interaction between PM Modi and Zoho’s CEO highlights the government’s interest in innovative rural development models like the one implemented by Zoho in Tenkasi district. The meeting signifies a recognition of the potential for high-tech job creation in rural areas leading to localized economic growth and development.
