Project Tracking vs Project Management: What’s the Difference?

When it comes to executing projects efficiently, both project tracking and project management play crucial roles. However, these two practices are often conflated or misunderstood. In this article, we’ll clearly define project tracking and project management, explain the key differences between the two, and walk through why both are essential for project success.

Defining Project Tracking

Project tracking refers to the process of monitoring a project’s progress and performance. It focuses on gathering and analyzing data related to the project tasks resources, timelines and budget. The goal is to identify current project status progress and potential problems.

Specific project tracking activities include

• Recording and updating task progress
• Tracking time spent on tasks
• Monitoring project budget and expenditures
• Analyzing resource allocation
• Identifying schedule deviations
• Forecasting project completion
• Creating reports on project performance

Robust project tracking relies on accurate data collection, key performance indicators (KPIs), metrics and analytics. This enables project managers to gain visibility into what’s working well and what needs adjustment. Powerful project tracking software provides automated tracking and dashboards to visualize progress.

Overall, disciplined project tracking is essential for keeping projects on schedule and budget. It empowers project managers to course-correct when needed. Tracking transforms vague notions of progress into hard data.

Defining Project Management

Project management refers to the broad practice of initiating, planning, executing, controlling and closing projects. This discipline provides methodologies, processes, skills, tools and techniques focused on achieving project results.

Key project management activities include

• Developing the project charter and objectives
• Creating the project plan
• Managing the project budget and securing resources
• Building the project team and defining roles
• Executing tasks according to the schedule
• Implementing quality assurance practices
• Developing communications plans
• Conducting risk management, issue management and change management
• Managing multiple stakeholders and expectations
• Measuring performance and running status meetings
• Performing project closure and assessments

There are various project management approaches, including waterfall, agile and hybrid models. But they all provide structured processes for delivering project results on time and within budget.

Key Differences Between Project Tracking and Project Management

While project tracking and project management are complementary disciplines, they have distinct differences:

Focus

• Project tracking is primarily concerned with gathering data on progress and producing analytical reports.

• Project management involves comprehensive planning, execution, management and delivery of project objectives.

Scope

• Project tracking has a narrow focus on metrics, KPIs and status reporting.

• Project management covers a wide range of processes, frameworks, methodologies and skills.

Output

• Project tracking produces data analysis such as progress reports and dashboards.

• Project management delivers the tangible project itself, guided by plans, budgets and roadmaps.

Role

• Project tracking is mainly executed by the project manager.

• Project management requires involvement from the project manager, team members, sponsors and other stakeholders.

Effort

• Project tracking is conducted periodically throughout the project lifecycle.

• Project management activities span the entire project timeline.

Mindset

• Project tracking takes aReactive approach by monitoring set plans.

• Project management requires a Proactive approach to set the vision and execute strategies.

Why Project Tracking and Project Management Go Hand-in-Hand

Project tracking and project management are deeply synergistic. Applying both together leads to superior project outcomes. Here’s why they’re better together:

Dynamic planning

Project tracking data helps project managers adjust plans, resources and schedules. KPIs reveal when and where tweaks are needed.

Informed decision-making

Metrics from project tracking give project managers the facts needed for critical decisions about strategy and execution.

Accountability

Project tracking metrics hold team members accountable to deadlines, budgets and quality standards.

Risk management

Tracking data can detect emerging risks like budget overruns or missed milestones early when they are easiest to mitigate.

Fact-based status reporting

Accurate tracking provides data for reliable project status reporting rather than guesswork.

Continuous improvement

Performance data from tracking helps project managers refine processes, plans and practices for future projects.

Key Project Tracking Metrics and KPIs

As we’ve discussed, tracking key metrics is essential for monitoring project health. Here are some of the most important metrics and KPIs project managers should track:

• Task completion % – Percentage of project tasks finished
• Schedule performance – Actuals vs planned timeline
• Budget performance – Actuals vs planned costs
• Resource allocation – Resources being utilized
• Change requests – Scope changes and creeping requirements
• Quality score – Defects, rework and quality results
• Customer satisfaction – Feedback scores and surveys
• Risk exposure – Open risks and mitigation status

Additional metrics can be defined based on specific project goals and industry standards. The key is consistently tracking the metrics that indicate true project progress.

Powerful project tracking software provides customizable dashboards to monitor these KPIs. Data visualizations quickly highlight areas that require attention. Automated tracking eliminates reliance on manual methods.

For optimal results, track project performance daily rather than only at status meetings. The earlier you can catch unfolding problems, the better. Regular tracking promotes agility to get projects back on track.

Project Tracking Best Practices

Follow these vital project tracking best practices to maximize effectiveness:

Define tracking requirements early – Clearly determine which metrics, KPIs and reporting needs will guide tracking.

Track consistently – Conduct regular project tracking instead of just checking at major milestones.

Automate tracking – Use tracking software rather than manual entry and spreadsheet logs.

Make tracking transparent – Share reports and dashboards with stakeholders and team members.

Keep tracking simple – Focus tracking on vital metrics that indicate true health. Too many metrics obscures visibility.

Update tracking plans – Refine tracking metrics and cadence as the project progresses.

Integrate with workflows – Embed tracking activities within daily workflows to maintain discipline.

Reconcile data discrepancies – Ensure tracking tool data mirrors actual progress and financials.

Following these best practices will ensure your project tracking activities deliver actionable insights. Consistent tracking discipline is the key to staying on top of project performance.

Powerful Project Management Software

Sophisticated project management software provides robust tracking capabilities alongside complete project and portfolio management tools. Here are some top solutions:

Microsoft Project – Provides complete project planning and tracking features including Gantt charts, dashboards and analytics. Integrates with other Microsoft business tools.

Oracle Primavera P6 – Full-featured enterprise project management software with strong tracking for large projects. Resource management capabilities.

SAP Project Management – Integrated solution with real-time tracking, collaboration and financial tools. Works across SAP systems.

Asana – Web and mobile project management platform with interactive dashboards, tasks, and tracking.

Atlassian Jira – Flexible and visual project tracking via agile boards, roadmaps, reports and more.

Smartsheet – Excel-like project sheets with robust integrated tracking features and visual reports.

Wrike – Online project management solution with tracking dashboards, Gantts, calendars and more.

LiquidPlanner – Automated tracking and predictive scheduling based on team capacity and workloads.

Choosing tools with strong project tracking will make monitoring performance effortless. Optimize visibility into team progress and project health.

Enhance Project Tracking with AI

Emerging AI solutions are now augmenting human-driven project tracking processes for even greater effectiveness. Examples include:

• AI data consolidation – Automatically integrating project data from multiple sources for unified tracking.

• Predictive analytics – Using AI algorithms to forecast project trajectories based on tracking data.

• Intelligent alerts – Configuring AI systems to automatically notify project managers about tracking anomalies.

• Natural language reports – Converting tracking data into narrated, interactive reports.

• Risk identification – Applying AI pattern recognition to identify emerging project risks and changes.

These AI capabilities enhance consistency, accuracy and timeliness of tracking. Project managers gain expanded visibility into performance. AI never forgets to update spreadsheet trackers!

Bringing It All Together

Project managers who only sporadically “check in” on metrics are flying blind. And meticulous trackers who don’t act on insights are squandering them.

Combine comprehensive project management methodologies with disciplined tracking. This allows for dynamic planning, informed decisions and course corrections.

With robust project tracking integrated into workflows, project managers can confidently steer projects from conception to completion. Data transforms