Project management software is used by project managers to manage projects. While simple projects may need only a checklist to reconcile the to-do list, a complex project requires proper planning, assigning tasks, setting deadlines, tracking progress and time. For these tasks use of modern tools are of high importance as they help to manage tasks. Interestingly, there are numerous project management software are available in the market and if you are new it can be hard for you to identify which one is beneficial and worth your time.

This blog highlights on the specific features and types of project management software.

Types of project management software implementation

Project management patterns evolved over time. When there was no software available in the market people used to use pen and paper. Once software became available at an affordable price to businesses, companies adopted the software instead of their pen-and-paper system. Gradually, desktop applications got improved in scale, features, and security and now it is feasible to access the software over the company’s own network by multiple users. Next, when cloud computing came into the picture, project management software vendors offered subscription-based products over the cloud provision to businesses of all sizes. Consequently, it opened a wide market for project management software vendors.

Here are different types of project management software that are in practice worldwide:

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On-premise project management software

On-premise – as the name suggests, the project management software resides on the company’s own server. Here the server will be inside the company’s data center and managed by its IT employees. For this usage companies either have to purchase a single on-premise license or have to purchase additional upgrades or updates. On-premise software assures more security and saves long-term costs. Because as the company runs the software on the private servers they can fully control the security protocols and data storage. Additionally, one-time license fees save monthly subscription costs.

Web-based project management software

If you have a software-as-a-service (SaaS) subscription then with web-based project management software you can access any internet-connected web browser. With these online platforms, you can cater to businesses of all sizes across industries. With web-based project management software users in various locations can use different devices such as smartphones, desktops, and tablets. This helps to receive up-to-date status and information about the project from a central database.

Web-based project management software has a rich set of features that can be compared with enterprise systems. Many of this software provides several methods to visualize goal progress and project tasks, automate workflows, collaborate with coworkers, share files, integrate with email, and message team members. By expanding their feature sets, many web-based project management tools also fall into the categories of business process management software or collaboration software.

Integrated and best of breed software

Recent project management software comes with several features and tools that help to manage a wide array of business project scopes. For example, specialized software can manage simple projects satisfactorily whereas a best-of-breed application surfs the purpose on a specific area like task management, time tracking, or scheduling. On the other hand, integrated suite applications have the capability to combine several functions like task management, time tracking, and Gantt charting. Among all these only integrated tools provide a unified solution that provides visibility, supports accountability, and improves collaboration.

When large enterprises need integrated project management software, startups and small businesses are happy with a simple project management solution that comes with fewer features and covers basic functionality. Some of the simple features are

• Task management,
• team collaboration,
• document management,
• email integrations.

There is another type of project management software in this category which is known as comprehensive project management software. This type of software has more features that cover core project management functions such as scheduling, financial management, resource management, on top of more advanced project management tools.

Though the project management suites will have a higher cost they deliver accurate estimates, real-time progress tracking, dependencies control, and comprehensive reports that justify the price of the solution.

Required features of project management software

Before you choose your next project management software you need to justify whether it is the right tool for your project. For this, you need to know the right features of project management software. The features must match the present and future requirements of your projects. Additionally, it should cover the optional requirements.

• Task management.
• Team collaboration
• Support documentation
• Email integration
• Document management
• Mobile app

Optional project management software features

• Third-party integrations or API
• White label, custom settings, and branding
• Reporting. 
• Scheduling
• Time management

Why small businesses should consider buying PM software

Small businesses mostly rely on spreadsheets which are not ideal for managing a project efficiently. With many free or low-budget modern project management software they can take the advantages of a modern solution while staying within budget. Besides, Task and project visualizations help teams see the progress of multiple projects running at the same time. Whether it’s through a Kanban board, Gantt chart, burndown chart, or other custom visualization, these tools give an overview of the project’s progress. Small businesses should identify what data or metric is important for them to see and check that their choice of PM solution can display them by default or will allow for customization.

Final verdict

Companies should roll out a new project management software carefully. This is not the sole responsibility of the project manager, instead, they need the support of major stakeholders for taking the decision. Additionally, before using the new software project manager should learn how to use them. The software must come with training materials and support documents so that individuals must not need to spend extra time getting hands-on.