15 Best Project Management Software in 2023 | Research.com

by Imed Bouchrika, Phd Chief Data Scientist & Head of Content

The success of a project is determined by time, cost, and scope (Elleh, 2013). In fact, in the year 2020 alone, 11.4% of losses have been accounted for due to poor project management and performance (PMI, 2020). Hence, project management software plays an important role in ensuring that projects are successfully delivered and implemented.

A recent survey revealed that approximately 45% of project managers and team leaders say their organization has a track record of project success when using project management software tools (Wellingtone, 2021). With these systems at your disposal, you can ensure that everyone can prioritize tasks and communicate in real-time with other team members (Wilson, 2020).

However, finding the right project management software could be tricky. So, to help you out, this guide outlines the leading project management software on the market, their key features, and the benefits they offer. It will also discuss some of the most critical project management software trends and statistics to help you get an idea of how to stay competitive in the industry.

Best Project Management Software Table of Contents

Project Management Software Statistics

The COVID-19 pandemic has forced companies globally to improve project management processes in every field of work. In the US, approximately 4.7 million employees are working from home for at least half a week. So, it comes as no surprise that project management software has become one of the most important business systems since 2020. The following project management software statistics reflect this:

• 56% of organizations already have in place a digital transformation strategy that incorporates artificial intelligence (AI) (IPMA, 2020).
• Organizations anticipate that AI will mainly take over the roles of PM assistant (52%), PM advisor (42%), and PM substitute (3%) (IPMA, 2020).
• 52% of organizations say that either a majority or all of their company’s teams have adopted agile practices (Digital.ai, 2021).
• 75% of project professionals believe that the usage of collaboration tools for teams will increase in the future (Wellingtone, 2020).
• 35% of executive leaders identified organizational agility as the top factor in achieving success in the future. (PMI, 2020)
• 32% of executive leaders say that selecting the right technologies is one of the top three biggest factors in future success (PMI, 2020).
• 59% use online collaborative tools, and 38% use a project management tool (Project.co, 2020).
• 44% of people don’t use a project or task management software to keep deadlines visible (Project.co, 2020).
• 32% of executive leaders report that having the right technology at their disposal is the most critical factor for success (PMI, 2020).

Source: Wellingtone, 2021

Amidst the rapid emergence and spread of remote working trends, project management software continues to grow as reflected by the latest project management software statistics.

• 58% of project management professionals work remotely while only 14% work together in a central office (ProjectManager, 2021).
• 49% agree that project management saw accelerated digitization since 2020 (PMI, 2021).
• 10.67% compound annual growth rate (CAGR) for project management software market in 2021 (Mordor Intelligence, 2021).

However, even with this increase in the adoption of these systems, the maturation rate of project management is rather slow.

• 37% of organizations say they are satisfied with their current level of project management maturity (Wellingtone, 2021).
• 45% are not satisfied with their project management (Wellingtone, 2021).

In addition, 47% of companies report not having access to real-time project key performance indicators, resulting in 50% spending one or more days manually collating project reports. This process resulted in about 25% of time wasted on tasks that could be done automatically using a reliable project management software (Wellingtone, 2021).

Source: Wellingtone, 2021

With these numbers in mind, businesses must thoroughly assess prospective project management software. In this way, they can ensure that they are implementing a solution that fits their company goals and make the most out of their investment.

Source: Project Management Solutions, Inc, 2022

Project Management Software Trends

Through the years, project management has significantly evolved as brought by advancements in technology. Here, we present project management software trends that will continue to shape how organizations manage projects.

• The expansion of AI and automation. The impact of AI on project management will include the automation of administration-focused tasks and also in resource allocation. By automating these tasks, project managers can focus their efforts on creating more value for the organization.
• The emergence of formal and informal project managers. Today, aside from project management being assigned to all managers, there is also the emergence of a mixture of fluid methodologies where project managers use a mixture of styles – waterfall (14%) agile (12%), combination of waterfall and agile (39%), and no specific methodology (17%) – which reflect an ever-evolving system that requires scalable tools (ProjectManager, 2022).
• Prevalence of hybrid project management. Based on a survey by Accenture, 83% of employees prefer a hybrid work environment. The adoption of hybrid work by most companies has paved the way for hybrid project management which also ushered in the emergence of fully remote project management. Hybrid project management involves the methods of traditional project management and the agile method. Software that have this capability can better assist companies to thrive in the new business environment.
• Closer connection between project and change management. Project management today is no longer exclusive to the project management team. Instead, as roles evolved, project managers are now also facilitating change management, and managers are also doing project management and change management.

How to Choose the Ideal Project Management Software

When you look for project management software examples, you will notice that most of the software include features such as project planning and scheduling, team collaboration, time tracking, reporting, project budgeting, billing, and quotes. These features address the activities undertaken by PMOs as identified by Wellingtone (2021).

However, before you invest, you must remember that not all project management systems are created equal. In fact, 32% of executive leaders report that having the right technology at their disposal is the most critical factor for success (PMI, 2020). This is why you must thoroughly assess your prospective platforms to ensure a return on your investment. To start, you can ask these questions as you browse products:

1. What issues need to be resolved? Identify your current problems and make them as specific as possible. This can help you narrow down the project management software features that you need.
2. Can it accommodate our existing workflow? Try to map out your day-to-day workflow and see if your prospective platform can be configured to accommodate it. The platform you choose should, to an extent, be able to adjust to your process and not the other way around.
3. What are the technical specifications of the platform? Find out if the software has installation requirements or hardware specifications as well as whether you are equipped to handle them. This can help you set realistic expectations for setup and onboarding.
4. Can it integrate with our tech stack? Ask your provider if the platform can play well with other software so you can determine whether you can use it alongside your existing business systems.
5. How much are we willing to spend? Business solution providers frequently charge on a monthly basis, so plan your software-related expenses in a monthly budget. Examples are onboarding fees and other costs associated with the implementation process.

Source: Project Management Solutions, Inc., 2022

List of Project Management Software

1. Asana

Asana is among the most popular project management software examples on the market. More than a project management software, this platform is a collaboration-first tool that lets you monitor team tasks closely. With this, team members can know who is doing what and share feedback with each other. Administrators also get a 360-degree view of workloads, so they can delegate the right tasks at the right time. With Asana, you do not have to shuffle between spreadsheets, email accounts, and other tools.

The abovementioned aside, Asana is known for its user-friendly interface, which cuts down onboarding time. You can also easily reassign tasks from one member to another to promote workload balance. Lastly, it integrates with other popular services like Slack, Dropbox, Trello, and Google Drive, so you can consolidate information more efficiently.

Asana Key Features:

• Create automated processes to coordinate with team members using the workflow builder.
• Use Gantt charts to help you create project timelines.
• Accurately track work progress with Kanban boards.
• View each team member’s work schedule using the shared calendar.
• Get real-time insight into work progress with the reporting module.
• Set strategic goals for the team and track its progress.
• Use automation options to streamline processes, reduce errors, and spend less time on routine tasks.
• Track workloads across projects for better task delegation.

Price: By quote

2. Smartsheet

Smartsheet is ideal for those who appreciate the versatility of Excel spreadsheets but want more features that facilitate collaboration. This platform offers a rich set of views, workflows, reports, and dashboards to track your plans, resources, and schedules. It consolidates your toolset, eliminates siloes, and leverages a single platform for all your work. Moreover, the software ensures that your projects are safe and secure so that you can stay ahead of evolving security, compliance, and governance mandates.

Smartsheet is built with ongoing focus and investment to meet security and governance needs. All of its support services can be accessed while using the software, including various forms of training, certifications, and support request portals.

Smartsheet Key Features:

• Connect with everyone on your team using its collaboration features.
• Streamline requests, ticketing, and billing through the request management module.
• Eliminate repetitive tasks using intelligent workflows.
• Simplify data collection and transfer through integration options.
• Distribute assets securely using the platform’s digital asset management.
• Improve governance and administration through configurable settings.

Price: By quote

3. monday.com

With monday.com, you can create a project, assign tasks to your team members, track progress, and stay on top of deadlines. You can also use it to create a task list for the week or month ahead of time and set reminders for yourself or your team members. The software allows you to balance out tasks and delegate work without overloading one or two team members. Tasks are easily categorized and assigned, with the ability to add notes and tags.

The platform’s work management function is visually appealing as well, has a low learning curve, and covers the majority of project requirements. These include task tracking, team collaboration, and budgeting. Moreover, it comes equipped with a dashboard system to give you an overview of all your tasks and their status.

monday.com Key Features:

• Keep important documents easily accessible with document management.
• Extensive integrations allow the platform to connect with existing business systems.
• Dedicate more time to revenue-generating work by automating repetitive tasks.
• Gain a 360-degree view of operations using real-time, customizable dashboards.
• Manage work pipelines with ease using Kanban boards and Gantt Charts.
• Reinforce team collaboration with monday.com’s commenting and tagging options.

Price: monday.com offers paid plans, ranging from $8/seat/month to $16/seat/month. There is also a free plan for individual users and a custom plan for enterprise users.

4. ClickUp

ClickUp is an all-in-one project management solution built to give businesses better visibility over day-to-day work. It comes equipped with features such as task management, document management, and in-platform chat. Moreover, it can integrate with a number of third-party applications, allowing you to consolidate important data across your organization.

In addition to the abovementioned, ClickUp also has a unique virtual whiteboards module, which can reinforce brainstorming sessions among your teams. Moreover, the platform has goal management options to help you keep tabs on important milestones and metrics.

ClickUp Key Features:

• Use the task management function to break down projects into manageable tasks.
• Bring team ideas to life using the whiteboard’s visual collaboration solution.
• Attach documents to tasks so no information falls through the cracks.
• Facilitate real-time team communication using the in-platform chat.
• Create and track measurable targets using the Goals module.
• Closely monitor day-to-day work using custom dashboards.

Price: ClickUp is free for personal users. Meanwhile, businesses can avail of its paid plans, which range from $5/member/month to $19/member/month. It also has an Enterprise plan, which is available by quote.

5. Wrike

Wrike is built to manage your projects and keep all your tasks organized. It offers an easy-to-navigate user interface and multiple forms of task management, allowing it to adapt to any workflow. Moreover, as it has straightforward labels for functions, users can expect a minimal to no learning curve upon implementation.

Aside from offering comprehensive project management tools, Wrike also comes with robust security features to keep your data safe.  These include standard identity management features like two-factor authentication (2FA) and single sign-on (SSO). The platform also includes encryption key management and cloud access security broker (CASB) integration.

Wrike Key Features:

• Get a bird’s eye view of tasks, project status, and team performance using real-time dashboards.
• Reinforce collaboration using different task management views.
• Make the most out of your resources using the platform’s project resource planning module
• Improve productivity by taking advantage of its automated workflows
• Gain unparalleled visibility across work streams through the cross-tagging function.
• Streamline processes using the platform’s over 400 integration options.

Price: For teams that are just getting started, Wrike is available completely for free. However, growing teams and larger businesses can avail of paid plans, which range from $9.80/user/month to $24.80/user/month. Custom plans are also available for enterprises.

6. Planview AdaptiveWork

Planview AdaptiveWork is a project portfolio management software that helps businesses automate workflows, manage risks, and deliver greater business impact. Having been in the industry for over 30 years, the product offers an extensive set of solutions for planning, project management, team delivery, and financial management.

In addition, the vendor has its own Information Risk Management (IRM) team. As such, you do not have to worry about cybersecurity and risk management oversights like penetration testing, security threat research, global security methodologies, incident response, and audit management.

Planview AdaptiveWork Key Features:

• Gain real-time insights into available resources and current workloads.
• Reduce tedious processes and improve productivity with workflow automation.
• Track progress proactively using smart notifications.
• Speed up processes using pre-built project templates or create your own.
• Build custom workflows based on your existing processes.
• Create customer account profiles to make interactions more seamless.

Price: Planview AdaptiveWork provides its customers with a few flexible plans, with the basic cost of a license starting at $29/user/month.

7. Microsoft Project

Microsoft Project offers a unified work hub that makes it easy for teams to manage, track, and evaluate projects across the organization. It provides simple but powerful features that help teams set up tasks, switch between boards, and closely collaborate on various aspects of a project.

Because the product is part of the Microsoft 365 family, users can expect a familiar interface that cuts down implementation time. In addition, it can work seamlessly with other products from Microsoft, which users could probably already be using.

Microsoft Project Key Features:

• Model portfolio scenarios to map out optimized project strategies.
• Improve data-driven decision-making using reporting and analytics
• Generate reports with ease using Power BI.
• Speed up project proposal evaluation using the review module.
• Increase collaboration through different project views.

Price: Microsoft Project has three cloud-based subscription plans priced depending on your feature requirements. These range from $10/user/month to $55/user/month. On-premise plans are also available but prices and availability may vary per region.

8. MeisterTask

MeisterTask is the most powerful task management tool for project managers, managers, and anyone who needs to track work in progress. MeisterTask enables you to organize your workflow with Kanban-style project boards. You can set limited tasks to prevent overload, add comments and labels, customize the look of your boards, and share them with other users. The attractive and user-friendly interface makes it easy to create tasks, assign people, manage projects, and monitor progress.

Moreover, this software offers a discount for educational and non-profit institutions through its education plans. Under this discount, institutions can avail themselves of the following features for a lower price than the standard.

MeisterTask Key Features:

• Facilitate cross-team collaboration using task relationships and tags.
• Meet deadlines more effectively using timelines, notification options, and custom dashboards.
• Retrieve the information you need faster using filters and smart search.
• Keep tabs on billable hours using built-in time tracking options
• Gain actionable insights into project data through reporting and analytics

Price: By quote

9. Conceptboard

Conceptboard is a visual workspace built for digital collaboration. Equipped with online whiteboard functions, this platform lets teams brainstorm ideas, collaborate on projects, and keep documentation in one place. This makes it particularly useful for design collaboration, agile methodologies, design thinking, and meetings.

Aside from whiteboard features, the platform also offers template libraries, project management boards, and file importing. There are also granular role permissions and version histories to help you control movement within the system.

Conceptboard Key Features:

• Allow real-time collaboration and tracking using live cursors.
• Make idea collection easy using the platform’s infinite canvas.
• Keep all project assets and documents accessible using its file upload and storage functions.
• Create blueprints, prototypes, and sketches in-platform using the drawing tools.
• Make sharing ideas with collaborators easy using comments and sticky notes.
• Ensure the security of all your data using password-protected links.

Price: By quote

10. ProjectManager

ProjectManager is a simple yet comprehensive system created to optimize project management processes. With features like Gantt charts, Kanban boards, task lists, and project portfolios, businesses can manage resources and reinforce collaboration with ease. It even comes with file sharing and comment options to help keep team members on the same page.

The abovementioned aside, the platform is also equipped with no-code workflow automation. This lets you create and manage pipelines across departments to improve efficiency. You can also leverage tools such as project calendars and workload charts to help you manage the movements of each team member.

ProjectManager Key Features:

• Set milestones and track progress with Gantt charts.
• Check KPIs and other operational data at a glance with custom dashboards.
• Generate reports quickly and accurately to improve company transparency.
• Boost productivity using workflow automation.
• Balance tasks among team members using the workload chart.

Price: ProjectManager offers plans that range from $13/user/month to $24/user/month. There is also an Enterprise plan that is available by quote.

11. Avaza

Avaza is a web-based software with tools for project planning, scheduling, and management. It allows users to communicate with their clients via email messages, access important project updates, track time spent on projects, and perform invoicing, among many others. it also integrates with hundreds of third-party applications.

The tool is easy to use and intuitive, with a clean interface that allows users to create new projects, estimates, or invoices on the fly. It also comes with features such as time tracking and expense management, so you can easily track your work hours and expenses, as well as submit reports at the end of each month.

Avaza Key Features:

• Utilize your team effectively with intelligent work assignment and scheduling.
• Improve communications using the built-in chat function, which supports multimedia content.
• Speed up billing processes with time tracking functionalities.
• Digitize receipts and accelerate expense approvals using the expense management module.
• Explore critical project data using reporting and analytics options.

Price: By quote

12. Bitrix24

Bitrix24 is an online workspace offering end-to-end functionalities. From project management to CRM, this platform can provide you with the tools you require. It provides collaboration tools such as communication systems, unified file storages, team calendars, and workflow automation. Moreover, it has solutions for workload management, task automation, and project visualization. In this way, it is easier to monitor progress across the organization.

Not only does Bitrix24 offer an extensive set of features, it is also built to play well with the other systems in your tech stack. It comes with several integrations through the marketplace and it also has REST API capabilities to help you build your own connections.

Bitrix24 Key Features:

• Built-in video conferencing and chat can improve team communications
• Receive regular work reports and gain insights into productivity using reporting and analytics
• Cut down time spent on recurring tasks using automation options
• Visualize projects however you want using custom Kanban boards, Gantt charts, and more.
• Make work-time tracking easier using the platform’s online time clock.
• Unified cloud storage makes it easier for teams to gain access to project assets and files.

Price: By quote

13. LiquidPlanner

LiquidPlanner is a predictive scheduling solution and project management platform. It is known for its ability to adapt to change so that you can mitigate risks and manage uncertainties during your project. It considers the complexity of your projects as well as the availability of team members so you can optimize overall operational performance. Plus, with real-time data, you can count on realistic and accurate data at all times.

Aside from its unique predictive scheduling features, the platform also offers priority-based planning functions, workload management, ranged estimation systems, and time management options. The project management system also includes a number of analytical tools for tracking company trends and information, allowing you to see what your team does well and where it can improve.

LiquidPlanner Key Features:

• Control project execution to a tee using the platform’s intelligent predictive scheduling engine.
• Optimize team performance across projects using workload management tools.
• Ensure that you are working on the right tasks at the right time using priority-based planning.
• Generate accurate delivery times using ranged estimation.
• Keep teams accountable using integrated time tracking tools.
• Gain intelligent insights using analytics functionalities.

Price: LiquidPlanner offers three pricing plans based on the number of features you will need. These range from $15/user/month to $45/user/month. A free plan is also available to small teams.

14. Teamly

Teamly is a powerful collaborative platform specifically designed for the remote work era, providing features that streamline team collaboration and increase efficiency. It offers a user-friendly interface and a variety of tools to help manage tasks, track progress, and enhance communication among team members, regardless of their location.

The platform includes a real-time chat feature, workflow and task management using kanban boards, screen capture video and audio recording, and employee time tracking and monitoring. These features ensure seamless collaboration and productivity while providing valuable insights into team performance.

Teamly Key Features:

• Engage in real-time communication with team members using the chat feature.
• Manage tasks and workflows efficiently using kanban boards.
• Capture project details with screen capture video and audio recording.
• Set clear and measurable goals for projects and tasks.
• Monitor employee productivity with time tracking and reporting.
• Generate comprehensive reports on project progress and team performance.

Price: Teamly offers a free version with limited features, as well as paid plans for more advanced functionality. Teamly Pro costs $5/user/month when paid annually and $9/user/month for monthly subscriptions. Teamly Business is available at $9/user/month for annual payments and $19/user/month for monthly subscriptions.

15. Sopheon Acclaim Projects

Sopheon Acclaim Projects is a comprehensive platform designed to help PMOs make informed decisions throughout project lifecycles. It serves as a command center where users can gain access to dashboards, workspaces, and more. In this way, teams can track the status of tasks and check the overall project progress. What makes this platform unique is that it also uses real-time diagnostic tools to keep tabs on project health.

Trusted by big companies like Hershey’s and Master Blenders, Sopheon Acclaim Projects also enables you to stick to your timeline and budget using data-driven project planning. It also helps reduce outcome variances as it offers change management workflows. These help you control schedules, costs, and resources at a granular level.

Sopheon Acclaim Projects Key Features:

• Make data-driven decisions throughout the project lifecycle using reporting functions.
• Deliver projects on-time using data-backed project planning.
• Mitigate project risks using real-time diagnostic tools.
• Closely monitor project costs and resources using the change management workflow.
• Improve governance using interactive workflows.
• Achieve financial transparency using the platform’s finance tracking tools.

Price: By quote

Determine the Best Project Management Software for Your Company

There is no one-size-fits-all when it comes to software, be it project management systems, ERP platforms, or accounting systems. Each software has its advantages and disadvantages, so it is important to thoroughly assess each one before making a decision.

Remember, the best project management software for your company is the one that can meet your business needs and align with your workflows. Only in this way can you truly reap the benefits that this kind of technology offers and maximize your investment.

References: 

• Elleh, F. U. (2013). Software-enabled project management techniques and their relationship to the triple constraints.

• Shamim, M. I. (2022). Exploring the success factors of project management. American Journal OF Economics and Business Management, 5(7).

• Mordor Intelligence (2021). Project management software market – growth, trends, COVID-19 impact, and forecasts (2022-2027). Mordor Intelligence. Retrieved from https://www.mordorintelligence.com/industry-reports/project-management-software-systems-market

• PMI (2020). Pulse of the Profession® 2020 Ahead of the Curve: Forging a FutureFocused Culture. Retrieved from https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pmi-pulse-2020-final.pdf
• Project Management Solutions, Inc. (2022). The State of PMO 2022. Retrieved from https://www.pmsolutions.com/resources/view/the-state-of-the-pmo-2022

• Wellingtone (2020). The state of project management 2020 [Annual report]. Retrieved from https://wellingtone.co.uk/wp-content/uploads/2020/06/The-State-of-Project-Management-Report-2020-Wellingtone.pdf

• Wellingtone (2021). The state of project management 2021 [Annual report]. Retrieved from https://wellingtone.co.uk/wp-content/uploads/2021/03/The-State-of-PM-2021.pdf

• Wilson, F. (2020, January 11). What are the Project Management Tools that are used for effective Project Planning. Ntaskmanager. https://www.ntaskmanager.com/blog/project-management-tools-for-effective-project-planning