Project management software helps project managers (PMs) and teams collaborate and meet goals on time while managing resources and cost. Functions may include task distribution, time tracking, budgeting, resource planning, team collaboration, and many more. People also refer to project management software as Task Management Software or Project Portfolio Management (PPM).
Managing projects has grown increasingly complex over the past decade. This often leads to large projects—particularly information technology undertakings—finishing past due, over-budget, and with a lower than predicted return on investment.