Project management software tools (or ‘PM tools’) are a dime a dozen these days – and their proliferation makes total sense.
How else would busy project managers and their teams get any work done in today’s cut-throat hustle culture?
But with all the variety on offer, it’s become increasingly important for businesses to attain the right PM app fix (for their needs and budget). In this sense, the worst that a company can do, in terms of wasted time and money, is subscribe to the wrong – read: too generic – interface.
This is where this guide comes in: to help you navigate the terrain, avoid any confusion, and onboard a specialist project management tool designed for your niche.
We’ll start with the basics for complete field newbies (all of us at one point) and conclude with Software Finder’s top project management software recommendations for 2024...covering the following in the middle:
CONTENTS
- A detailed look at typical project management software features
- Our brief 5-point software evaluation criterion
- The 10 best project management software you should know
- Expert advice on getting onboarded – free and quick!
Let’s go.
Project Management Software: The Historical Context
Project management software has experienced a fascinating evolution over the years. Its history is marked by significant milestones that have shaped its current form and functionality.
The first significant development in the field of project management software can be traced back to 1896 with the introduction of the Harmonogram. However, it was not until the mid-20th century that the field began to take shape in its modern form. The popularization of Gantt charts and concepts like cost estimation brought project management into the limelight.
From 1956 to 1958, a series of essential project management tools emerged. Among them was the Critical Path Method (CPM), pioneered by the Dupont Corporation, which revolutionized project duration estimation. This period witnessed remarkable technological progress that greatly compressed project timelines.
The following decades witnessed the application of general system theories to business interactions, marking the first attempt to view organizations as integrated entities. This shift played a crucial role in the further evolution of project management. Fast forward to today, project management has advanced light-years beyond predictions made at the close of the 20th century.
In terms of market players, the project management software industry today is dominated by several key names. Microsoft Project, introduced by tech giant Microsoft, has been a stalwart in this space for many years. Other notable players include Atlassian's Jira, a favorite among software development teams; Monday.com, known for its user-friendly interface and robust features; and Asana, appreciated for its flexibility and versatility.
These top-tier players continue to innovate and evolve, driving the industry forward. Their collective success is reflected in the impressive growth of the project management software market, which was projected to reach $7 billion by 2022, according to a report by Technavio.
Typical Project Management Tool Features
Project management software, in a nutshell, helps teams to plan, coordinate, and execute tasks effectively.
Some of the key features found in leading applications in the field include:
Task Management Tools
This is perhaps the most fundamental feature of any project management solution. It allows users to create, assign, prioritize, and track tasks related to a specific project. The task management function often includes due dates, task owners, status updates, and progress tracking, helping teams stay organized and focused on their work.
Project Planning/Scheduling
This enables teams to map out project planning timelines and set deadlines for individual tasks (even across multiple projects). Some project management tools may offer Gantt charts, Kanban boards, or other visual aids to help users understand how tasks fit together in the broader project timeline.
Team Collaboration
Collaboration tools facilitate communication and coordination among team members. This could include chat functions, file-sharing capabilities, comment sections on tasks, and more. These features are designed to enhance teamwork and ensure everyone is on the same page.
Time Tracking
Time tracking tools allow users to log their hours on each task or project. This feature is particularly useful for businesses that bill clients by the hour, but it can also provide valuable insights into productivity and efficiency for any team.
Reporting/Project Tracking
Reporting tools provide an overview of project progress, including completed tasks, upcoming deadlines, time spent on tasks, and more. These tracking reports can be used to identify bottlenecks, assess performance, and make informed decisions about resource allocation.
Resource Management
Resource management features help teams plan and allocate their resources effectively. This could include tracking employee availability, managing budgets, or monitoring equipment use. By clearly understanding available resources, teams can plan projects more efficiently and avoid unnecessary costs.
Integration with Third-Party Tools
Many project management tools can integrate with other software businesses commonly use, such as email clients, calendar apps, or accounting software. This helps create a cohesive workflow and reduces the need for switching between different platforms.
Prioritization
Prioritization tools allow teams to rank tasks based on their importance or urgency. This helps ensure that critical tasks are completed first and can assist in managing workload and preventing burnout.
Workflow Management
Workflow management features allow users to define and automate processes for completing tasks or projects. This can streamline operations, reduce the risk of errors, and improve efficiency.
Invoicing
Some project management tools include invoicing features, which can automate billing and ensure clients are billed accurately and on time.
Now, this list isn’t exhaustive by any stretch – but it makes for the essentials you should have in your subscription (even free project management software picks).
Required Features by Industry
For more narrowed must-haves by industry, here are some details of the features you want to consider for five prominent verticals:
Healthcare
Healthcare project management systems are specifically designed to manage the unique demands of the healthcare industry - with their top software requirements being:
- Patient-Centric Task Management
This feature enables the seamless management of tasks associated with patient care, from creation to assignment and tracking. It guarantees prompt attention to each patient's unique needs, prioritizing their well-being effectively.
- Customizable Medical Workflows
Every healthcare institution has its own way of doing things. A solid project management platform should allow customizable workflows to accommodate these unique processes.
- Healthcare Supplies Inventory Management
This function helps manage equipment and inventory, ensuring that supplies are always available when needed.
- Vendor Communication
Effective communication with vendors (software providers) is crucial in healthcare project management. This function can improve correspondence by providing a centralized platform for all vendor-related engagements.
- Medical Reporting and Analytics
This feature provides detailed reports and analytics that can help in therapeutic decision-making. It can provide insights into patient care, resource allocation, and other aspects of project management.
- Integration with Existing Systems
The project management app should be able to integrate seamlessly with the existing systems in the healthcare institution. This can include electronic medical records (EMR) systems, billing systems, and more.
- Healthcare Security and Compliance
Given the sensitive nature of healthcare/patient data, it's crucial that the project management system has robust security measures in place. Additionally, it should help the institution comply with healthcare regulations such as HIPAA.
- Hospital/Clinic/Practice Resource Management
This important feature helps in planning and allocating resources effectively. It can track healthcare staff availability, manage budgets, or monitor equipment use.
- Planning and Scheduling
This function enables care teams to map out project timelines, set deadlines for individual tasks, and understand how tasks fit together in the broader health project timeline.
- Team Building and Communication
Project managers in healthcare need to have effective team-building and communication tools. The software should provide features that enhance hospital/clinic staff teamwork and ensure everyone is on the same page.
Finance
Project management systems for the finance industry must cater to the specific needs and demands of this sector - which entail the following requirements:
- Budget Management
This feature allows project managers to set and manage budgets for individual projects, ensuring that all costs stay within defined limits.
Financial Analysis and Reporting
These tools can provide detailed financial reports and analytics on project performance, helping in decision-making and strategic planning.
- Risk Management
Risk management tools are crucial given the high stakes associated with financial projects. These can help identify potential risks and devise strategies to mitigate them.
- Billing and Invoicing
This feature automates the billing process, ensuring accuracy and efficiency in financial transactions.
Cost-to-Completion Tracking
This provides real-time updates on the estimated cost to complete a project, allowing for better budgeting and financial planning.
- Client Portal
A client portal allows clients to access relevant project information, improving transparency and communication.
- Integration with Financial Systems
The project management system should be able to integrate seamlessly with existing financial systems like accounting software or ERP systems.
- Process Improvement Tools
These features allow for the continuous improvement of financial processes, enhancing efficiency and effectiveness.
- Kanban-style Task Management
This enables teams to visualize work, limit work-in-progress (WIP), and maximize efficiency.
- Project Planning and Scheduling
These features enable meticulous planning and scheduling of tasks, ensuring the timely completion of financial projects.
IT
Project management systems for the IT industry should be equipped to manage complex and technical projects, coordinate teams across different locations, and ensure strict adherence to deadlines and specifications.
Some special/variant PM tool requirements for this sector include:
- IT Task Processing
This feature allows for creating, assigning, and tracking tasks, ensuring that each task is completed on time and by the right person. It often includes due dates, task owners, status updates, and progress tracking.
- Collaboration Modules
Given the often distributed nature of IT teams, collaboration tools are crucial. These could include chat functions, file-sharing capabilities, comment sections on tasks, and more.
- Integration with IT Tools
The project management system should be able to integrate seamlessly with existing IT tools such as coding repositories, bug-tracking systems, or automated testing tools (essential for software developers).
- Resource Management Tools
This feature helps in planning and allocating resources. It can track employee availability, manage budgets, or monitor equipment use, facilitating overseers to manage projects effectively.
- Project Oversight
These features enable meticulous planning and scheduling of tasks, ensuring the timely completion of IT projects.
- Software/Hardware/Product/Service Risk Management
Given the complex nature of IT projects, risk management tools are crucial. These features can help identify potential risks and devise strategies to mitigate them.
- Time-Tracking
Time-tracking tools allow users to log the hours they spend on each task or project. This feature is particularly useful for businesses that bill clients by the hour, but it can also provide valuable insights into productivity and efficiency for any team.
- Reporting and Analytics
Detailed reports and analytics can provide insights into project performance, resource allocation, and other aspects of project management.
- Flexibility and Customization
IT projects can vary greatly in their requirements, so a project management tool needs to be flexible and customizable – with project templates – to accommodate these unique needs.
- Notifications
Given the fast-paced nature of IT projects, it is crucial to have a feature that sends out notifications about task updates, changes in project timelines, or other important information
Food
Project management systems for the food industry need to address consequential challenges such as managing perishable inventory, ensuring compliance with food safety regulations, and coordinating complex supply chains - covered under:
- Inventory Control
This feature helps manage stock levels of ingredients or finished products, ensuring that items are available when needed and reducing waste from spoilage.
- Supplier Management
Effective communication and coordination with suppliers is crucial in the food industry. This function can improve relations by providing a unified interface for all supplier-related communications.
- Bill of Materials
This allows for creating detailed recipes or formulas for each product, including quantities of each ingredient and instructions for preparation.
- Customer Focus
Given the importance of consumer trends and preferences in the food industry, a project management system should have features that help keep the focus on the customer.
- Process Flexibility
The ability to adapt quickly to changes is crucial in the fast-paced food sector. A project management system should allow for flexible processes that can be easily adjusted as needed.
- Task Assignments and Progress Tracking
These features allow for the assignment and tracking of tasks, ensuring that all tasks are completed on time and by the right person.
- Team Collaboration
Collaboration tools are crucial because of the often distributed nature of teams in the food industry. These could include chat functions, file-sharing capabilities, comment sections on tasks, and more.
Real Estate
Project management systems for the real estate sector need to cater to managing multiple properties, coordinating teams, and ensuring compliance with various regulations - along with seeing to these other requirements:
- Property Listing Templates and Online Forms
These can streamline the process of listing properties for sale or rent, making it easier and more efficient.
- Sales Pipeline Management
This feature helps manage and monitor the progress of potential property sales, from initial contact with a prospect to the final closing of the deal.
- Critical Date Tracking
This function enables users to track important dates, such as deadlines for contract signings or property inspections, and adjust them as needed.
- Centralized Data and Document Management
Having a single repository for all data, documents, and deal information can greatly improve efficiency and collaboration.
- Planning, Scheduling, and Budgeting Tools
These tools help create comprehensive plans for real estate projects, including schedules, budgets, and resource allocation plans.
- Stakeholder Relations Management
This feature helps manage communications and relationships with various stakeholders in a real estate project, such as clients, contractors, or government officials.
Our Easy 5-Point Software Evaluation Criterion
By this point in the piece, we’re sure you’ll have a pretty decent idea of the many perks of subscribing to a good project management software.
But to be really discerning, we need to get a little intricate here – probing what ‘good’ actually means in your context (of use).
We’ve been reviewing integrated project management software solutions for a while now, dissecting their basic and advanced features for dealing with complex projects and workflow situations.
We have a fair idea of the kinds of advanced project management capabilities most managers look for in their purchased platforms – and it’s likely that you’ll find these insights useful for decision-making.
So, here’s our brief business project management tools software evaluation framework that’s based on all this insider, expert intel.
If you have a particular PM app in mind that you’ve been considering, this is a good opportunity to pass it through this test.
And if you’re not familiar with all the subscription options in the field, head over to the following guide section to vet our best project management software recommendations.
Simple Project Management Software Evaluation Framework
Here are the five test cues you need to weigh your PM tool on:
- Communication and Sharing Capabilities
These are crucial for facilitating teamwork. Look for features like chat functions, comment sections, file sharing, and real-time updates.
- Functional Scope
The software should offer a broad range of features that align with your team's needs. This might include task management, scheduling, resource allocation, and more.
- Integration Capabilities
The interface should be able to integrate seamlessly with other tools your team uses. This could include email platforms, file-sharing services, or specialized software related to your industry.
- Usability
The utility should be user-friendly and intuitive to navigate. It's important that all team members can easily use the software to ensure effective collaboration.
- Workload and Resource Management
The software should provide tools to track and manage resources effectively. This includes being able to see who's working on what, how much time tasks are taking, and whether the team has the capacity to take on more work.
PRO Tip: Make a mental ‘tick’ every time each of your shortlisted project management software checks out on one of these prompts. The tool with the most hits is your contest winner – our recommendation for you to go ahead and apply for a subscription.
Want a Deeper Analysis?
If you want to conduct a deeper audit of your PM app choices, check out our software analysts’ detailed Project Management Software Evaluation Checklist: the ultimate, free tool-sifting subscriber framework on the internet!
How about a Cost Comparison?
Software pricing is obviously one of the biggest determinants of any purchase/subscription decision.
Check out our Project Management Software Cost Comparison Template to get this crucial part right – identify the tool that works for your budget.
Our Top Project Management Software Picks
As promised, here’s our top 10 list of the best project management software that you should definitely start with – all of them are guaranteed to work super in just about any workflow situation.
Each, however, has a USP that makes it superior in a specific functional way that its competitors (as you’ll read).
And, so, without any further ado…and in no order of aggregate preference:
Let’s open each.
Wrike
Wrike is a robust work management platform that offers full visibility and control over tasks and projects. Its standout feature is its sophisticated automated workflow planning, which includes data visualization and resource allocation capabilities.
Asana
Asana is a versatile, 'visual project management software' known for its easy-to-use interface and powerful task management capabilities. It is also popular for its Timeline view, which provides an interactive Gantt chart representation of your project schedule.
Monday.com
Monday.com is a customizable work operating system that enables teams to create their own workflows. Its competitive feature is the ability to build apps and integrations without coding, allowing teams to tailor the platform to their specific needs.
Trello
Trello is a project management tool that uses a Kanban card-based system for organizing tasks and projects. Its most appealing feature is its simplicity and visual approach to task management, making it great for teams that prioritize ease of use.
Smartsheet
Smartsheet combines a spreadsheet-like interface with project management capabilities. Its competitive feature is its grid view, which combines the familiarity of a spreadsheet processor with robust task-processing functions.
ClickUp
ClickUp is a comprehensive project management app that allows teams to keep all their work in one place. Its standout feature is the ability to switch between views (List, Board, Box, Calendar) depending on users' preferences or the nature of the project.
Airtable
Airtable combines elements of a spreadsheet with a database for more robust organizational capabilities. Its most notable feature is its flexibility, allowing users to link records between tables, creating a relational database.
Jira
Jira is a project management tool designed specifically for software development teams. It is acclaimed for its robust bug and issue-tracking system, making it ideal for agile teams.
Basecamp
Basecamp is a popular project management app that allows teams to easily collaborate and communicate in one place. Its most attractive feature is its messaging capabilities, which include conversations, notifications, reminders, and file sharing.
Teamwork
Teamwork is an integrated project management platform designed to streamline workflow processes. Its competitive feature is its seamless integration with other tools like Dropbox, Office 365, Slack, and Zapier.
Advice to Get You Started Well
So, there you have it – our best project management software tips to make 2024 a high note of your work management legacy…and every year after!
If you need any PM tool queries answered (the ones not covered here) or want quick, targeted, expert, and free advice on the perfect software aids for your workflow and pocket, give us a call at (661) 384-7070 where our friendly helpline reps will be more than happy to get you started.
As ever, we always look forward to hearing from you.
