Project Management Software and Tools

When your business expands your projects require new organization & management tools. Read an informative guide about project management & PM tools today.



Is your business ready to expand? Are you looking for ways to increase profits and productivity in your company fast? Project management software and tools are available to help organize, manage and expand your business today. Many notable companies provide high-quality project management (PM) software in 2021, but what do PM software programs do?                                         

As your customer base and business expand, so too do the amount of projects you have to manage. PM software organizes projects into four primary phases, which are collectively referred to as the project life cycle. This highly organized framework uses specific tools to organize company financials, customer analytics, inventory, scheduling, planning, purchasing and much more. How do you find the best PM software for your business today? Read ahead for comprehensive information about project management and tools today.

Project Management Software 101

Project management (PM) software helps organize and manage various elements of your business on daily basis. Many successful companies in 2021 claim PM software programs are an integral part of their increased productivity and success. Managing projects both small and large requires resources and manpower, both of which cost money to facilitate. PM software helps mitigate expenses, while also increasing productivity, efficiency and profits. 

How does PM software work? Companies selling project management software each have their own program and platform even though project management itself employs similar techniques and tools across the board. Business projects have four primary life cycles and PM software organizes these cycles into four primary phases. Conceptualization, planning, execution and termination phases are then broken down into sub-phases, which include tasks, notes, crucial data, schedules and more. Project management technology is top-tier in 2021. Advanced programming allows you/your employees to communicate, organize and function in sophisticated ways, which results in:

  • More efficiency.

  • Less expenses.

  • Increased customer base

  • Improved analytics & consumer demographics studies.

  • Higher profits. 

PM Software - Types

Similar to how your business projects have four primary life cycles, PM software is essentially designed as one of three main types. Theses types include individual, collaborative and integrated software platforms. PM software platforms are further organized based on function, industry/business type and specific management digital tool sets.

Individual PM platforms are commonly utilized by one person in the company. This user is typically the project manager, and he or she has sole access to the information in the project unless it is otherwise specifically shared. Collaborative PM platforms are designed for teams. One primary source of data might be created, but everyone on the team is able to access and utilize it in various ways. Customizable functions allow updates to help avoid redundancy and superfluous activity, although some collaborative PM platforms also prevent accessibility by multiple users at once. Integrated PM platforms, however, allow single users and group access at the same time. All data is stored in a central base, and everyone in the project is able to see changes made in real time. Integrated PM platforms are the best options for businesses with large projects and a need for company-wide project management in real time.

Project Management – How it Helps Your Business

Project management helps your business by increasing productivity, efficiency, profits and more. Conceptualization, planning, execution and termination phases are essential to managing your projects effectively. PM software helps improve the accuracy of any estimates made pursuant to your projects. Your resource capacity and possibilities are laid out in front of you, easy to access and digest. Employee communication and interactivity is also improved, which reduces the required amount of hours spent on each project. The latter scenario creates the double benefit of allowing your employees to focus on more important tasks and also take on more projects in shorter amounts of time. 

Project management also improvises your financial outlook. It allows you to see past expenses and compare them to future needs. This eliminates risk and potential future mistakes. Seeing projects unfold/succeed in real time also maintains higher employee morale, all of which leads to higher profits for your business in the end. 

Tools & Business Types

Project management tools are designed for general PM purposes as well as for specific business types. Warehouses use PM software to keep track of massive amounts of inventory and shipping schedules. Financial advisers use PM software to organize client portfolios, share with assistants, and keep track of billing and more. Professional music producers use PM programs to collaborate with engineers, artists and music supervisors. Teachers are able to use PM platforms to organize grades, student records and create lesson plans. 

The tools included in various PM software platforms vary with each platform and the purpose for which it is used. Task/schedule management and user dashboards are common in every type of PM software. Many PM programs also have mobile apps in 2021. Integrated PM software has team collaboration, file-sharing, calendar-sharing and access permissions settings. Additional tools included in PM software programs include:

  • Gantt charting.

  • Accounting.

  • Resource allocation.

  • Advanced analytics/reporting.

  • Trend forecasting.

Project Management Software - Average Costs

Each providing project management software company establishes pricing based on a combination of company policies and your needs. Some companies charge a flat rate to purchase the base software. Others charge a monthly subscription and some charge for both, or in combinations of other billing methods. Asana and Wrike are popular 2021 providers. Wrike’s Professional Plan costs $9.80/month per user. Wrike’s Business Plan costs $24.80/month per user. The Asana Premium plan, however, costs only $9.99/month per user for up to fifteen users. Many companies offer free plans with significant limitations, and Enterprise Plans by private quotes based on needs. Cloud-based programs are also available at prices ranging from approximately $40 to $750 per month.

Top Project Management Companies 2021

Many high-quality project management software companies exist in 2021. The best programs offer versatility, friendly pricing and the ability to increase your bottom line. Some of the top project management companies for 2021 include: