Which is best project management software for small business

What is Project Management Software?

Project management software is a software used for planning, organizing and managing resource tools and develop resource estimates.  It can be used for project planning, estimation, scheduling, resource allocation, cost control, and budget management. The project management tool is used for collaboration and communication between project stakeholders.

Why you need project management software?

Business companies comprising a large number of teams will be working on many projects.
To manage numerous projects with a limited number of project managers in a team may be quite challenging.

To centralize your projects, communication and workload management, you can opt for project management software. They help you to save time and avoid working on repetitive tasks and little things.

Using project management software will help in the good organization of everyday work and everything you need to manage. To simplify the way you work, you can rely on project management software. Some of the benefits are listed below

1. Centralized Management and collaboration

Manage everything related to projects in a centralized hub where everything will be visible to those who are part of the projects. Everyone can easily share the documents, files, etc within the project management tool and focus on the work to be done rather than moving to other tools for sharing files.

Every person in the team will come to know what others are working, how much work is completed, how much work is going on each project, etc and stay in the loop.

2. Simplified Project Planning

Project management software provides you the ability to classify your tasks based on the hierarchical approach. It allows project managers to plan the essential tasks with high priority and lead to efficient and simple project planning.

3. Saves Money & Time

Using a single tool - Project Management Software for collaboration, project planning, organize tasks and project tracking is really helpful in saving money and time. It also helps in the smooth running of your projects in a well-organized manner.

Must-have features of Best Project Management Software

    Below are the basic features that a best project management tool must possess

• Project Planning
  
  
  Real-Time Project planning allows to plan, allocate, assign, schedule the tasks during the workflow of the project. Each and every project update will be displayed in real-time. Task Assignment, Prioritization of tasks, Task Scheduling, Setting deadlines, due dates are the must-have options for project management software.

• Resource Management
  
  
  Resource management is a feature that outlines all scheduled and planned resources. It helps to keep track of every project's resources and to schedule the project resources. Lack of resources can be avoided using the resource management feature. Project managers can ensure that they have assigned resources to specific tasks and everyone has the resources to get the work completed.
• Team Collaboration
  
  A large team may comprise of more number of people working on specific tasks. Team members will be in need to access other's work to gain knowledge or to move it to the next level. In such cases, definitely team collaboration is important. File sharing, shared calendars are very much important. The collaboration will help the team members to focus on real work alone.
  
  
• Reporting
  
  The best project management tool must possess reporting tools that will help to have an overview of your project progress, budget, expenses, task on progress, completed status, team performance, etc. It will help us to find the improvement in projects as well as shortcomings. So that we can take immediate action to overcome the shortcomings.

Many more advanced features are available in project management software. I would like to share a Project Management & Time Tracking tool that I am using at my office premises. It is none other than "Output Time" which stands out from the other project management tools because of its awful features.

Output Time Features

• Project Planning & Scheduling
• Time Tracking
• Project Management
• Business Dashboard
• Resource Management
• Expenses Management
• Invoice Management
• Task Management
• Reporting
• Collaboration

Donwload Self hosted Project Management Tool - Output Time