Best Project Management Software and Tools
The best project management software for project managers (PMs) and teams are Zoho Projects, Nifty, Jira, and Freshservice. A project management tool helps to collaborate and meet goals on time while managing resources and costs.
Connect With Your Personal Advisor
List of 20 Best Project Management Software
Until 31st Mar 2023
What is Project Management Software?
Project management software is a tool used by various industries for project planning, resource allocation, and scheduling. It enables project managers and entire teams to control their budgets, quality management, and all documents exchanged during a project.
Any business or enterprise undertaken for development and building constitutes a Project. A project can be of different sizes: small, medium, or large, and involves various processes and several stakeholders. To efficiently and successfully complete a project, project management is crucial. An online project management software is a platform that enables easy and seamless interaction between various stakeholders and aids in efficiently completing the project.
The best project management software programs have tools and techniques that help complete the project successfully and efficiently at cost-effective rates and manage time. It helps the manager to control and monitor the project with minimum costs and hit deadlines on time. It also helps in resource allocation, budgeting, documentation, and stakeholder interaction. It helps communication between the project team members and the clients. Small businesses can benefit immensely from free and open-source project management solutions that provide most of these features.
Advantages of Project Management Software
PM tools can assist you to improve your Company's everyday processes. Having this kind of software in place would also permit you access to additional analytics. This will, in turn, make your company more productive.
1. Helps Attain The Project Objectives:
Online project management tool enables you to receive the maximum productivity from the projects as it helps in successfully executing the projects on time and in good quality. It even assists Project Managers in creating an appropriate scheduling plan for/her team. Subsequently, good project management software assists in overseeing the entire team effortlessly.
2. One Can Check The Project Growth From Anywhere, Anytime:
Besides being able to oversee the team members and the real-time status of the projects they are working on, you can also interact with your team members about the projects. Discussing project issues and queries becomes very easy with the project management platform. Moreover, you can screen the performance of each team member. So, if you catch any team member being late, you can shift that member to another less important project and as a result, evade any delay in the projects
3. Best Way To Avail The Expected Outcomes:
The software allows managers to allocate the workload as per the competence of each human resource. The software has numerous tools which help in activities and time management. This consists of network diagrams, spreadsheets, Gantt charts, etc. The project management system is the best way to confirm savings in time, resources, and money. It can lead to output gains and the elimination of miscellaneous expenses.
Features of Project Management Software
Project management software is an indispensable part and chief distress for any commercial organization. A project management tool is collaborative software that gets the clientele and employees on the same page.
By means of a project management system, businesses can effortlessly achieve their work online and access it from anywhere and anytime. The project tracker tool is a single podium through which targets can be attained effectively with comfort. Here are some project management solution features you might want to consider when purchasing the best software for project management solutions.
1. Shared Team Calendar:
Time is of the essence in every project. A team calendar helps project managers with scheduling and organizing meetings. The good thing about having a shared calendar that synchronizes with the most popular calendar tools, for example, Outlook, Gmail, and iCal among others ensure that everyone receives notifications and attends meetings on time. The calendar also helps you point out critical due dates to your project team so that they may have a quick idea of the milestones ahead of them
One of the features of the top project management software is the file-sharing feature. As such, once a team member inserts (or uploads) information into the system, other people in the team can quickly have access to it, whenever they need it, and wherever they are. When you start choosing your software for a project management platform, always.
3. Team Dashboards:
Project management software for startups and enterprises is about making the work easier. To make it easier, the software needs to be able to create team dashboards accessible to all members of the team. That way, teams can easily share or retrieve charts and add graphs, visual metrics, and a host of other key performance indicators (KPIs) to your dashboard. The team dashboard, which can serve as a project KPI report, can be used during meetings when you want to present your tracked metrics or compare results about the planned schedule.
4. Increased Visibility:
It becomes easier to run the project when all the data is accessible in one place. That way, completed tasks, planned tasks, upcoming calendar events, project resources, customer data, bills, and other expenses can be accessed with a single click. So you don't need to waste time switching between multiple spreadsheets on the lookout for different bits of data. Look out for PM tools software that includes (or can integrate well with) invoice automation and customer relationship management(CRM) software.
5. Customizable Reports:
The best tool should be able to generate reports. It should include apps that collect your team’s previously inserted project data and use the data for creating customizable reports. For example, you will be required to create reports on your expenses, budget, the tasks you have already completed, and a team member's performance. Since you will always have to gather a lot of data along the course of project execution, all you need to do is to choose the parameters and information that you would like to use to prepare graphs or charts. You can easily identify the over-utilized or underutilized resources from the reports and adjust accordingly.
6. Virtual Dashboard:
Online best software for Project Management solution let you achieve access to a user-friendly dashboard. The dashboard enables you to see an impression of all the tasks, problems, the status of tasks, etc. related to any particular project in one single place.
7. Project Planner:
The project-planning wizard in the most popular IT project management software allows the user to plan, set up, and allocate a fresh project with no trouble whatsoever. The user or the Admin can know the status of projects and sub-tasks in real time. He/she can even add and remove jobs during the course of the whole project.
8. Time Tracking:
Whether you are working on customer orders exclusively or need your team to track their timelines, an apt online project management tool is all you need. By means of the virtual time tracking feature available in the project collaboration tools, you can do so from the cozy comforts of your home.
9. Expense Tracking:
Tracking expenditures and financial plans for any kind of project, whether separate or business-related is essential to ensure that you are not overspending. Expense tracking software can let you establish incoming revenue, outgoing expenditures, and even periodic expenses related to the Projects.
Five Phases of Project Management
A project manager platform involves huge planning and forecasting at the initial stages. There may be more than a dozen tasks that may have to be tended to. Take the help of an experienced project manager, who will always suggest that it is always best to tend to a project in parts or phases rather than making it move about together. Here are five project management lifecycle phases that you will find in the modules of every easy project management software:
1. Project Initiation:
This is the first step in the lifecycle of a project. Measuring the value and feasibility of the project is intended at this step. Top online project management software makes use of two tools to make this evaluation which are the business case document and the feasibility study. These steps lay down the need for IT project management software, its potential financial benefits, and an evaluation of the goals and timeline of the project. Projects may be abandoned if deemed unprofitable, but if they pass these two steps, they can be implemented.
2. Project Planning:
Once a project is assessed for its feasibility, it would require adequate planning to create a budget and allocate resources to determine how it would be implemented. Project managers can also use the best project management software to define the planning and management stages.
3. Project Execution:
Project managers are most interested in and concerned with this step in the whole project managing software with the team. This is the step where they are required to build the deliverables expected to satisfy the customer. Remember that the execution phase will be a success only if the planning stage succeeds. A project plan largely directs the outcome of project execution.
4. Project Monitoring and Control:
Sometimes, monitoring and control activities go hand in hand with the execution stage. This is because once a project plan is executed, constant monitoring and control activities would be required to ensure it is moving as intended. This is where the scope for modifications and changes arises, and the scope of alterations may materialize here. The importance of this step can be understood when the manager takes an overall view of the project. This step ensures that the promised deliverables are delivered to the project on time and that every step is taken to keep track of team performance.
5. Project Closure:
When a project management tool is delivered to the customer, it is ideally considered complete, at which point it is considered curtailed. Stakeholders of the project are communicated about the completion of the project so that resources can be diverted to other channels. At this stage, the team can document the entire process, how it was executed, and what steps were taken to control the deviation in the plan. This helps avoid common project mistakes in the future and control the team's actions for future projects.
Functions of Project Management Software
1. Project planning
2. Task management
3. Document collaboration and sharing
4. Calendar and contact sharing
The project management software for Mac provides the function of sharing, handling, and administration of documents, archives, and other information sorts among a few clients or systems. These PM tools permit two or more remote clients to deal with a project or task jointly
Project management software is intended to improve productivity within a group of people and, more specifically, within an organization. This is accomplished through the coordinated assignment processing and administration capabilities this project tracking tool provides.
With project and collaboration management skills, clients can create a workspace and include information and/or workflows. The created workspace is accessible and viewable for all assigned users, no matter what location he is operating from. Any changes made to the information or documents are synced up on everyone's pc, guaranteeing that everybody has the most updated variant of an ongoing project.
How do you strategize all the projects assigned to you in your Company? How do you perform a thorough study of the plans?
Even though you can employ the finest project-managing software for your projects, there is a project-management platform that can accomplish and simplify your projects and work. Yes, I'm talking about Task Management Project tools. Adapting project tracking apps offer the virtual image of the entire project, project depth analytics, budget issues, and event management planning.
So, what exactly is an AI project management tool? The software automatically combines scheduling, planning, estimation, budget, and financial management. Furthermore, it manages resource allocation, time tracking, communication, and collaboration; the list is endless. Creative project management solutions online propose significant paybacks to the customers and to the team as they improve the output and performance of the project handling teams.
Many online project management tools are currently available with numerous features and options.
Project management tool typically has these objects of info for input:
1. Beginning date of every action
2. Timeline of each action
3. Needs of each action
4. Resources available
5. Stage to avail the resources
Project Management Software helps in Which Tasks?
There is a lot of simple project management app and software that are used to address the following tasks:
Schedule and handle events that hinge on each other in diverse ways.
Software help to communicate effectively when managing a project.
Being capable of scheduling the numerous project participants, together with precise tasks for every participant.
The aptitude to forecast and deal with backup conditions that might arise all throughout the project.
Ensure that errands are over on time and fresh tasks are allocated to each participant.
Types of Project Management Software
There are different types of PMS for small businesses out there depending on user preferences and the type of project into which the software will be put into
The different types of software we will be looking at include
1. Desktop Programs:
Management Project tools in desktop programs are useful in corporate environments. Businesses can install and use them on personal computers, servers, or laptops. They are available online for free (freemium versions) or proprietary systems that come at a fee.
2. Mobile Applications:
Thanks to the evolution of technology, today's businesses can manage their projects through specialized mobile apps. These apps may be suitable for administrative functions, communication, and collaboration. For example, research published on Science Direct revealed that about 50% of mobile project management tool supports the execution of top software for a project management solution, while about 46% provide administration functions.
3. Web-Based Applications:
These are project management apps hosted online. Today's web-based Software as a Service (SaaS) applications are effective in project portfolio management, project management, and project management solutions systems (PMIS). Their design caters to business managers who want to utilize the power of the Internet in managing their projects.
4. Visual Tools:
Information visualization software is useful when addressing problems associated with understanding and viewing large project data sets. These tools allow users to search for, evaluate, and edit their data. They also mitigate information overload, a common problem in some projects.
5. Single-User Programmable Systems:
These systems work under the premise that only one user is authorized to edit a project's contents. They are commonly used by small businesses manned by a small professional team.
6. Personal Applications:
These applications are useful in home settings to manage home or lifestyle projects. They have a simple user interface and require little to no technical skills to maneuver. For instance, homeowners can use them to plan for weight loss programs or track their food consumption habits.
7. Collaborative Programmable Systems:
As their name suggests, unlike single-user programmable systems, these systems support multiple users. This means that several users can take part in editing parts of a project at once. They rely on a database to synchronize all changes that the users make on given data.
Evaluate Project Management Methodology
Ideally, a process should be laid down to evaluate and assess each methodology, but it is often complex and time-consuming. However, there is no other way to choose the right PMO or online project planning tools without going through this process. As per the Project Management Institute, an OPM3 model, known as the Organisational Project Management Maturity Model, can be used by organizations to identify and measure the project management software capabilities and standardize the whole process involved in choosing one. It helps in defining the project outcomes and resources involved to make an estimate of the outcomes.
When an evaluation of the best project management methodology is being made, one should evaluate and consider the following factors before choosing and zeroing in on any one of the methodologies:
What are the goals of the organization and how do they stand apart from its core values?
What are the key business drivers of the organization?
Does the organization face any constraints?
Who are the stakeholders of the organization?
What risks does the organization face?
What is the level of complexity faced by the project managers?
What are the estimated size of the project and the related costs?
Once these critical factors have been assessed and identified, you will need to develop a project management app, which can be done through project managing software to manage projects and evaluate some steps:
Determine what the project drivers are and identify the primary goals of the project
State the goals and requirements and the impact of each methodology for the project
Match the relevant methodologies with the project
Compare and contrast each methodology of great project management software
Consider the results of each methodology with the least risk
Document the entire workflow
Implement the methodology
Monitor the methodology and make amendments.
The project management system can help make these steps a short task at hand and help you achieve the best results quickly. A project management information system is used vastly by project managers these days in conjunction with PPM software and PMO software which together make up the most interactive online project management system. Some project managers also make use of project portfolio management software to manage projects and achieve these tasks.
Steps to Choose the Best Project Management Software
The project management tool you are going to use determines how effectively you will fair your traditional project management endeavors. You don't want to make a hell of a mistake that will cause you a lot of harm (financially speaking) a long way. Here are some of the things you need to look at before purchasing your online project management tool:
1. Plan your Project Effectively:
Before you get started, ensure that you have all your objectives, scope, deliverables, time frame, and approach you are going to use. That means you will need background on what type of tool your project needs, why you need it, and how it fits in with your technology.
2. Gather your Project Requirements:
Before you take the plunge, take note of all your requirements. Ask yourself why people would need that particular package, the likely changes they are likely to encounter, and how they can be solved.
3. Create Package Long List:
Now that you know what you need, create a list of potential buys and all packages that might meet your needs
4. Come up with the Package Shortlist:
Evaluate your list and come up with a smaller number of project management software that may not fit your needs, are too new or may not fit within your technology architecture.
5. Evaluate Package Shortlist:
This is the collaborative project software selection's hardest and most time-consuming aspect. Map out the product package features and functionality and compare it with your immediate and future requirements. Then determine which package closely meets your needs. For more information, you can interview the vendors. Ask them to set up full-version product demos so you and your team can review their product.
6. Make the Final Selection:
Once you find the best tool for your organization, negotiate the contract and purchase.
Common Project Management Myths to Avoid
A project manager is bound to face various difficulties and drawbacks while implementing his leadership skills for managing a project. Whether through IT project management software or project portfolio management software, he has to maintain the vision and goals of his project-based work at all times.
Several myths have infiltrated the world of project management. Let’s discuss some of these common pitfalls and how to avoid them.
1. It’s Not About the People but the Process:
This one has been around for a long time, and it’s quite hard to make a project manager understand why it is nothing more than a myth. Project tools and team project management software have their own relevance but even then, without a great project management team, you would still find it hard to realize most of your project goals. This is because, unlike the best software for project management systems, a project team holds a qualitative significance, which even the most sophisticated project portfolio management tools cannot match.
2. Project Management is just Paperwork:
Well, this one is just plain obvious. Project management has evolved in more than one way, which is why we find using project portfolio management tools quite common these days. Project management involves outdoor activities, technical studies, project management solutions to evaluate and choose different courses of action, and possibly, a lot of technical mayhem, which is way beyond ordinary paperwork.
3. Facts and Figures are way too Important:
Facts and figures form the basis on which the best project management software and project management information system do their job. Still, when it comes to a project manager, there is something that a project management system cannot replicate: his unique vision. His vision and intuition can conceptualize an outcome in any project management tool that may fail to grasp.
4. Project Management Orientation:
It is often believed that the only thing a project manager is concerned with is his project. That is not true. To give a holistic approach to a project, a project manager is usually entrusted with combining the use of online project planning and team management software so that the team can understand the vision and mission of the project as a whole. Without doing so, he cannot develop the right strategic project management techniques for the firm and mold projects according to those strategies.
5. The Customer/Stakeholder should Know Exactly What They Want:
Sometimes, the customers/stakeholders in the organization need not necessarily know what they want out of a simple project exercise to the minutest detail. A project management team can take up this role and help define the outcome of his project management activity through project software and project management information system.
6. Failure is the End of the World:
Many project managers believe that one project that went wrong means the end of their career. However, this is not true. Sometimes, it is the wrong implementation of the organization which leads to the failure of a project and not a flaw in the design of the project, which leads to the flaw in the outcome of the project management activity. This is not even dependent upon the team project management tool which churns out the results of a project management activity.
7. Once a project starts, it won’t end:
No matter if some of the best online project management solutions are being used or if an experienced project manager is engaged in the activity of devising project management results, there always remains the possibility that the organization may come up with some modifications to their existing and long term project and devise some new course of action. In this scenario, the project manager may have to adopt a new approach to his project management approach. However, generally, it is not an ongoing activity and culminates once the client's desired objective is achieved. This can be managed through the project management software.
These are just a few common myths surrounding a project manager’s job role. Besides these, there are a few others as well but before you set out to believe in any one of them blindly, make sure that you understand the exact repercussions of those myths.
Cost of Project Management Software
The cost of project management software can vary depending on the features and functionality you need. However, there are some general costs you can expect to incur when purchasing this type of software.
Generally, project management software will cost between $100 and $500 per month. This price range will give you access to basic features and functionality, such as task tracking, project tracking, and resource management.
When considering the cost of project management software, it's essential to consider the value it will bring to your organization.
You can expect to pay more if you need more advanced features like collaboration tools, reporting capabilities, and integration with other software applications. Prices for these advanced features can range from $500 to $1,000 per month.
This software can help you save time and money by streamlining your project management processes. It can also improve communication and collaboration among your team members.
List of Best Project Management Software
There are many different project management software available in India. Each of these software has its unique features and benefits.
It is one of India's best project management software. It is a cloud-based project management tool that helps you to manage your projects, tasks, and team members.
With ProofHub, you can easily track the progress of your projects and ensure that they are completed on time. ProofHub provides features like Gantt charts, task lists, Kanban boards, file sharing, and more.
Monday.com Work OS is a no-code project management platform that makes it simple to organize, control, and track projects. It also enables real-time collaboration and the use of automations and connectors to speed up processes and save labor costs. Workflows that are tailored to your particular business requirements may be set up using ready-made and editable project templates, and visual dashboards, widgets, and a variety of view options make it simple to monitor and overview projects.
Scoro is one of the greatest budgeting software, which also has capabilities for CRM and project management. By giving you access to all the financial data in one location, it assists you in managing your complete organization.
All project-related information, such as time spent and invoiced, scheduled tasks and meetings, invoices and expenses, comments, and files, may be managed on a single page. It assists you with creating and evaluating financial reports, creating invoices, and much more.
It is a project management solution that is simple to use and helps you keep track of your project with ease. It is popular among small and medium businesses as well as freelancers.
Trello is the ideal tool for you if you're seeking a productive way to manage your projects. Trello is a web-based Kanban project management tool that makes it simple to keep track of and work on your projects with others.
Trello allows you to organize and monitor your projects by using boards, where you can add cards to represent tasks or ideas and designate team members to work on certain projects. To keep everyone informed, you may also add comments, attach files, and set deadlines.
Trello makes it easy to see what's being worked on, who is working on what, and where things are in the process. Plus, it's a free project management software!
It is a cloud-based agency project management software that helps businesses in India manage their IT projects. It offers various features and tools to enable enterprises to plan, track, and execute their projects. It also lets you update your clients about the project's progress and status. Clientvenue is a web-based application and can be accessed from anywhere, anytime.
It is a cloud-based project management tool that gives teams the ability to organize and manage their work. Task management, team communication, file sharing, and other capabilities are available.
Asana is used by millions worldwide and is trusted by leading organizations such as Google, Facebook, and Airbnb.
Users can collaborate on projects and see their progress in real-time with this cloud-based project management tool. Task management, Gantt charts, resource management, and collaboration tools are just a few of the functions it provides.
Wrike is a good choice for businesses of all sizes that need a flexible and user-friendly project management solution.
8. Microsoft Project
It is a widely used project management system that helps users manage projects, track progress, and collaborate with team members. It offers a variety of features, such as Gantt charts, task lists, and resource management.
Primavera is a project management software widely used in India. It is a powerful tool that helps organizations to manage and control their projects. It is also used to monitor the progress of projects and to ensure that they are on track.
Primavera has been designed to be user-friendly and easy to use. It is also scalable and can be used for small, medium, and large projects.
It is one of the most popular project management software tools. It is used by a few of the largest organizations in the world, including Facebook, Atlassian, and Spotify.
JIRA is the best tool for managing software development projects, allowing developers to track and manage tasks efficiently. Additionally, JIRA provides comprehensive reporting features that will enable managers to see how their projects are progressing.
Market Trends to Understand in Project Management
Some of the most important modern market trends to acknowledge in Project Management are:
The development of Automation and Artificial Intelligence because of the increase in project management software.
Involvement of more and more hybrid management outlooks, using more of the project management techniques.
The growing influence of emotional intelligence (EQ) in project management.
Giving extra attention to numbers and data analytics is possible by using the best PMO software.
Using advanced project management instruments and solutions.
Increase the time of remote working in your overall project management schedule.
Related Articles on Project Management Software:
- A Quick Guide on Project Quality Management
- SEO Project Management Software
- 10 Project Management Challenges and Ways to Overcome Them
- All You Need to Know About the Project Management Process
- Asana vs Monday vs Trello: A Comprehensive Comparison Guide
- Benefits Of Resource Scheduling In Project Management
- Complete Collection: Top 10 Project Management Software in the USA
- Generate More Revenue Using Project Management Software
- Here is How You Can Help Your Team Prioritize Tasks
- How Covid Will Impact The Future of Project Management
- How to Reduce Software Development Project Cost
- Is Using Cloud-Based Project Management Tools Safe for Startups?
- Project Management Hacks That Are Highly-Rewarding.
- Top 8 Project Management Blogs Every Manager Must Follow
- Agile vs Waterfall Methodology – Which is Right for Your Project?
- Can Artificial Intelligence Replace the Project Manager?
- How to Handle Poor Performance of a Project Management Team
- 40 Work From Home Tools: To Keep You Sorted
- Steps While Choosing a Construction Project Management Software
- Free and Open Source Project Management Software
- Gantt Charts vs. Kanban: What to Use for Your Project Management?
FAQs of Project Management Software
NPV =? (Year n Total Cash Flow)/( 1+Discount Rate)n.
Where ‘n’ is the year whose cash flow is being adjusted software project management comes with an NPV calculator.