What is Project Management Software?
Project Management Software is used by managers, employees, administrators, and teams to help manage project tasks, goals, and general coordination.
Project management solutions help accomplish these matters through a range of tools to help allocate resources, monitor productivity, manage team or individual workloads, and sequence tasks.
The software can be used to track several projects, analyze team productivity, allow various stakeholders to track progress, and enable communication among team members.
Project management tools are widely used in all industries that involve organizations managing projects and their associated tasks over a time horizon.
Project Management Software vs. Task Management Software
PM software is related to task management software, but differs in important ways.
PM software allows for the management of individuals, teams, projects, and productivity. Task management software, on the other hand, is used to breakdown project components, outline individual tasks, provide timelines and due dates, and enable self-management.
For organizations with a larger number of projects that are otherwise similar in scope, Project Portfolio Management Software may be a better fit.
Project Management Software features
For inclusion in the PM software category, a product should:
- Outline project plans and breakdown individual and team work structures
- Allocate organizational resources based on demand and availability
- Support various project management methodologies, including agile, kanban, and waterfall
- Establish project budgets and provide running comparisons among actual costs and spending
- Provide project templates that can be altered or combined to establish new projects
- Support communication channels and manage interdependencies
- Allow users to update tasks
- Change project views, such as calendar view, customer view, partner view, etc.
- Monitor progress and productivity of individuals and teams
- Manage resource utilization