Home/Glossary/Project Management Software/Project Management Software FeaturesUpdated on: November 29, 2023

What is Project Management Software?

Project management software is aimed to facilitate the workflow of a team collaborating on the same project. It fits for small startup teams as well as huge seasoned ones and even multiple different teams that need to cooperate to complete a project. The software allows to assign and reassign tasks, easily track the deadlines to meet them for sure, and of course, control the whole process from the central managing location. Project Management Software is a true business solution that every business in today’s era must have. Not only are they advanced, but they are also efficient tools that make business procedures and activities very easy to work with. Here, you have understood what it is, the numerous benefits it provides, and the various features that it offers. Therefore, if you are thinking of purchasing Project Management Software, keep in mind the few pieces of advice, and you will be able to get the perfect software for your company.

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List of all features

Budget Management

The method of administering and controlling the finances associated with business ventures is known as budget management. It’s not only about coming up with a single overall number for a particular project but also about understanding the individual cost elements and the logistics of budget tracking.

Idea Management

Idea management is a structured process of generating, capturing, discussing and improving, organizing, evaluating and prioritizing valuable insight or alternative thinking that would otherwise not have emerged through normal processes.

Issue Management

The practice of finding and addressing problems is known as issue management. Problems with employees or vendors, technological glitches, and supply shortages can all wreak havoc on your project. If the problem isn't fixed, you risk causing needless friction, delays, or even failure to meet the deadline.

IT Project Management

The planning, scheduling, execution, tracking, and reporting of IT projects is known as IT project management (ITPM). Although many industries concentrate solely on IT ventures, IT is unique in that it is present in almost all, if not all, industries.

Kanban Board

A kanban board is an agile project management tool designed to help visualize work, limit work-in-progress, and maximize efficiency (or flow). A kanban board helps make your work visible so you can show it to others and keep everyone on the same page.

Milestone Tracking

A project is only considered a success if all of the client's objectives are met. These are usually articulated in terms of the complexity of what needs to be delivered, its consistency, the costs involved, and the timeframes involved. The most effective way to manage the timescale factor is to monitor milestones. Effective project preparation concentrates on the most important deliverables, with assignments outlining how the job will be structured to meet the deadlines. Milestones are used to classify these main completion dates so that projected dates can be compared to committed dates as the project progresses. This is what's referred to as milestone tracking.

Percent-Complete Tracking

Percent complete tracking is a way to track project progress and is an important part of how to manage a project. A project's percent complete refers to how far along you are with any given mission (or the project overall).

Portfolio Management

Portfolio management is described as the process of managing an individual's assets in order to maximize earnings over a set period of time.

Project Planning

Project planning is a phase in project management where the necessary paperwork is generated to ensure that the project is completed successfully. All activities taken to identify, schedule, integrate, and organize additional plans are recorded.

Project Templates

A project template is a project that includes work packages and actions that you know you will frequently apply to various projects.