Project management software is a business application designed to assist project managers and their teams organize the step-by-step process of a project, identify priorities, and monitor project tasks, costs, contacts, deadlines and staff.
Complex projects that require staff, team coordination, budgets and so on can be difficult to manage without the use of project management software.
Recommended Reading: Webopedia’s project management definition.
Pricing and features of project management software tools vary, depending on number of end-users and specific features required. Today, many of these applications are available to organizations on a monthly (or yearly) subscription basis where fees are determined by the number of users or number of projects managed within the system.
Typical Project Management Software Features
According to Project-Management.com, project management software specifically helps project managers and teams complete client requirements and manage time, budget, and scope constraints.
To do this, most tools offer a complete business solution that will streamline the entire work progress eliminating the need for multiple tools. Typical software solutions may offer some of the following features:
- Contact management
- Customizable dashboards
- Document and file management
- Frequently used templates
- Gantt charts
- Notifications and alerts
- Project roadmaps and timelines
- Quoting and invoicing
- Real time reporting
- Scheduling: meetings, calendar
- Subtasks and task dependencies
- Task management (assign, deadlines)
- Team collaboration
- Time tracking and billing