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MOVF techniques - Management of Value Foundation Updated: 2024

MOVF Real test Questions by killexams.com
Exam Code: MOVF Management of Value Foundation techniques January 2024 by Killexams.com team

MOVF Management of Value Foundation

EXAM CODE: MOVF
EXAM NAME: Management of Value Foundation

40 minutes duration
Closed book
50 multiple-choice questions
50% pass mark

Delegates are introduced to the world of the Management of Value and to the overall structure of MOV.

What is value
What is MoV
Why it is needed
Its place in the Cabinet Office Best Practice Guidance
Its relationship to other management methods
The 7 MoV Principles

MOV operates within a universal set of principles that can be applied to any environment. These seven principles provide the framework of good practice upon which MOV is based and include:

Align with organisation's objectives
Focus on functions and required outcomes
Balance the variables to maximise value
Apply throughout the investment decision
Tailor to suit the subject
Learn from experience and Improve performance
Assign clear roles and responsibilities and build a supportive culture
The 7 MoV Processes

The seven MOV processes provide a clear plan for implementing the outputs and monitoring their effective delivery.

Frame the programme or project
Gather information
Analyse information
Process information
Evaluate and select
Develop Value Improving Proposals
Implement and share outputs
MoV Techniques

This part of the course covers the MoV specific techniques and common techniques that are frequently used with MoV.

Implementing MoV

The implementation, embedding and need for embedding MOV into an organisation is covered here and includes:

Planning MoV activities
Responding to external and internal factor.
Portfolio, Programme, and Project considerations
Operational considerations
Embedding MoV into an organisation
MOV Foundation Examination

All delegates will sit the MoV® Foundation examination, which consists of:

Key test information:

Throughout the MOV Foundation course, delegates will be exposed to numerous examples of examination questions. We will undertake a number of exercises and 'question-and-answer' sessions that will help consolidate the learning, thereby ensuring that delegates are more than adequately prepared for the final examination.

MOV Practitioner Examination

The purpose of the Practitioner qualification is to confirm that you have achieved sufficient understanding of how to apply and tailor MoV in a scenario situation. The experience of the individual, the level of support available and the complexity of the situation to which MoV is to be applied will be factors that impact what the Practitioner can achieve.

PeopleCert exams take place remotely via PeopleCert Online Proctoring, and the afternoon of the third and last day of your course will continue with your learning until approximately 4.00pm. When booking your test please ensure that it is for a time after the course has concluded and at a time convenient for you. You will be required to download and install ExamShield and conduct a compatibility test prior to sitting the exam.

Objective testing

8 questions per paper with 10 marks available per question - all question items are worth 1 mark, making the total number of marks available per paper 80

Duration 2 ½ hours
Open book test - only the MOV manual is permitted to be used
50% pass mark

Management of Value Foundation
Exin Management techniques

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Exin
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Management of Value(R) Foundation
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Question: 90
Which three criteria explain why the MoV individual competence model is useful to an
organisation?
1. To assess an individual's capabilities and the type of MoV study for which they are
suited.
2. To recognise that a fully but recently qualified practitioner will lack the experience to
undertake studies on particularly complex projects.
3. To enable recently qualified practitioners to learn to undertake MoV where human
and cultural factors may be significant.
4. To allow recently qualified practitioners to undertake studies on particularly complex
projects.
A. 1, 2, 3
B. 1, 2, 4
C. 1, 3, 4
D. 2, 3, 4
Answer: A
Question: 91
Who should be responsible for developing a value-improving proposal?
A. The MoV team as a whole
B. The most relevant functional manager
C. The allocated owner of the value improving proposal
D. A technical expert nominated by the allocated owner
Answer: C
Question: 92
Which is NOT a reason why it becomes more difficult to implement changes identified
by a MoV Study as a project progresses?
A. Sunk costs increase as a project progresses
B. Project team members gain increased ownership of their work
C. Resistance to change increases
D. Project objectives are less clear
28
Answer: D
Question: 93
What is the principal output from allocation to categories and the idea selection matrix?
A. A list of rejected ideas
B. A list of ideas or options that should be developed further
C. Plans to develop selected ideas into value improving proposals
D. Approved value improving proposals
Answer: B
Question: 94
Which statement about a decision building meeting is true?
A. It should be chaired by the senior responsible owner.
B. The owner, responsible for implementation, has already been determined by the MoV
team before the meeting.
C. Decisions from the meeting should form the basis of the proposal implementation
plan
D. Attendees should be limited to the senior responsible person, project manager and
project sponsor
Answer: C
Question: 95
Which is one stage in the approach to MoV implementation?
A. Understand and articulate value
B. Tailor MoV activity to suit the subject
C. Frame the programme or project
D. Apply MoV throughout the investment decision
Answer: A
29
Question: 96
How is a function described in Function Analysis in MoV?
A. Verb only
B. Adjective and verb
C. Verb and noun
D. Adjective and noun
Answer: C
Question: 97
Which is a key component of the Evaluate and Select process?
A. Initial briefing meeting
B. Team selection
C. Resource analysis
D. Idea selection
Answer: D
Question: 98
Which of the following cost types would be considered in calculating discounted cash
flow?
1. Capital or one off costs
2. Periodic maintenance costs
3. Regular operational costs
4. Opportunity costs
A. 1, 2, 3
B. 1, 2, 4
C. 1, 3, 4
D. 2,3, 4
Answer: A
Question: 99
30
Why should MoV align with an organisations objectives?
A. To minimise the costs of delivering the project
B. To maximise benefits arising from the project
C. To meet stakeholder expectations
D. To avoid maximising value within one project that could diminish value across the
wider programme
Answer: D
Question: 100
Which is one of the five portfolio management principles?
A. Portfolio definition
B. Multi-criteria analysis
C. Prioritize
D. Strategy alignment
Answer: D
31
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Based in Green Bay, Wisc., Jackie Lohrey has been writing professionally since 2009. In addition to writing web content and training manuals for small business clients and nonprofit organizations, including ERA Realtors and the Bay Area Humane Society, Lohrey also works as a finance data analyst for a global business outsourcing company.

Sun, 22 Jul 2018 19:13:00 -0500 en-US text/html https://smallbusiness.chron.com/office-management-techniques-79301.html
Physical Management Techniques

Carrie Windham has been writing since 2008, featured in “The Brief Out” and “Key Issues.” Windham, a leader in County Government, holds certificates in peace officer, corrections officer and instructor from the Texas Commission on Law Enforcement. Windham is pursuing a Master of Arts in organizational management from Ashford University. She is a national speaker successful in the use of education and hands-on experience for training program development, presentation and implementation.

Thu, 26 Jul 2018 15:59:00 -0500 en-US text/html https://smallbusiness.chron.com/physical-management-techniques-78211.html
10 useful time management tips, according to productivity experts No result found, try new keyword!The secret is a skill called time management, and like any other skill from cooking to karate, it can be learned by following a few simple tips. Time management tips and techniques can completely ... Tue, 02 Jan 2024 03:31:00 -0600 en text/html https://www.cnn.com/cnn-underscored/health-fitness/time-management-tips Relaxation Techniques: Learn How to Manage Stress

SOURCES:

David Shurtleff, PhD, deputy director of the National Center for Complementary and Integrative Health (NCCIH) at the National Institutes of Health (NIH); acting scientific director, acting chief, Clinical Investigations Branch, Pain and Integrative Neuroscience Branch, Division of Intramural Research, Bethesda, MD.

Jonathan C. Smith, professor of psychology, Roosevelt University, Chicago.

Mayo Clinic: “Exercise and Stress: Get moving to manage stress,” “Mindfulness Exercises,” “Music Therapy,” “Relaxation techniques: Try these steps to reduce stress,”

Harvard Health Publishing: “Relaxation techniques: Breath control helps quell errant stress response,” “Tai chi or yoga? 4 important differences.”

National Institutes of Health: “Mindfulness Matters.”

National Center for Complementary and Integrated Health: “Massage Therapy: What You Need To Know,” “Relaxation Techniques for Health,” “Yoga: What You Need to Know.”

Arthritis Foundation: “Progressive Muscle Relaxation.”

Gregory Scott Brown, MD, psychiatrist; director, founder, Center for Green Psychiatry; affiliate faculty member, University of Texas Dell Medical School, Austin, TX.

Kaiser Permanente: “Autogenic Training.”

Trisha Harp, certified professional coach, Atlanta

Cleveland Clinic: “Art & Music Therapy.”

Johns Hopkins Medicine: “Aromatherapy: Do Essential Oils Really Work?”

North American Journal of Medical Sciences: “Scientific Evidence-Based Effects of Hydrotherapy on Various Systems of the Body.”

National University of Health Sciences: “Hydrotherapy Suite.”

Sun, 18 Apr 2021 02:45:00 -0500 en text/html https://www.webmd.com/balance/stress-management/features/blissing-out-10-relaxation-techniques-reduce-stress-spot
Maximizing ROI with Strategic Financial Management Techniques No result found, try new keyword!Now, we’ve covered the fundamentals. Let’s move to key techniques used in strategic financial management: A well-planned financial budget is a crucial tool for effective management. Mon, 11 Dec 2023 14:36:00 -0600 en-us text/html https://www.msn.com/ 3 Money Management Tips for the Newly Self-Employed No result found, try new keyword!Here are three essential money management tips for those embarking on their self-employment journey. Side Gig: Earn Up To $200/Hour With This Easy-To-Start Job, No College Degree Required See ... Sun, 10 Dec 2023 08:14:00 -0600 en-us text/html https://www.msn.com/ Project Management

Crossref Citations

This Book has been cited by the following publications. This list is generated based on data provided by Crossref.

James, Stuart 2007. Project Management Disasters & How to Survive Them. Library Review, Vol. 56, Issue. 4, p. 343.


Dukic, Gordana Sesar, Ivana and Pasalic, Tomislav 2009. Library activities management based on a simulation queuing model and an aspiration level model using statistical methods. p. 125.


Booth, Char 2009. Managing Technology Projects. Public Services Quarterly, Vol. 5, Issue. 1, p. 59.


Willett, Peter Chen, Hui Baptista Nunes, Miguel Zhou, Lihong and Chao Peng, Guo 2011. Expanding the concept of requirements traceability. Aslib Proceedings, Vol. 63, Issue. 2/3, p. 168.


Cobo Serrano, Silvia and Arquero Avilés, Rosario 2018. Project Management Techniques at the Complutense University: Academic Librarians' Perceptions. New Review of Academic Librarianship, Vol. 24, Issue. 2, p. 124.


Camp, Twila Laufersweiler, Barbara and Robbins, Sarah 2018. Project Management in the Library Workplace. Vol. 38, Issue. , p. 1.


Ribeiro, Fernanda and Malheiro da Silva, Armando 2020. Handbook of Research on Emerging Technologies for Effective Project Management. p. 20.


Kipps, Kayla L. and Jones, Allison K. 2020. Things Are Looking Up: Using Cloud-Based Technology Tools in Collection Management Workflows. Serials Review, Vol. 46, Issue. 3, p. 215.


Mon, 26 Apr 2021 15:05:00 -0500 en text/html https://www.cambridge.org/core/books/project-management/7AD749539C8926A58B381AA483308904
MEM 426: Project Management
VIEW ALL COURSE TIMES AND SESSIONS

Description

This is a one (1) unit course.

The purpose of this course is to provide an overview of the field of Project Management as applied to technology intensive, product development projects using a systems orientation. The course will emphasize the basics of Project Management success, the basic process model, applications of project management and certain techniques and key factors for project success in a high risk, high technology environment.

Philosophy

The course philosophy is that the students bring a wealth of information and knowledge to the classroom experience. It is the job of the instructor to liberate the wisdom of the classroom while modeling behavior for future PMs to "liberate" the wisdom of their teams in the workplace. We will balance theory with practical observations. We are not teaching the use of MS-Project or any other software package. PM is far more than a software package. Project scheduling is expected as part of the overall Final Exam, however any scheduling tool is acceptable that is compatible with a Monte Carlo tool such as PERTMASTER.

Objectives

Upon completion of the class, the student will be able to:

  1. Recognize primitive project management cultures. Understand the basics of project management as a discipline and as defined in the PMBOK
  2. Recognize a project in the organization, and be able to match the PM techniques needed to the needs of the organization. Be able to implement project controls within an organization
  3. Apply basic project management techniques, or be able to manage those who do in an effective manner
  4. Establish basic policies in the organization that will foster and enable effective project management techniques

Apply

The application to request Winter 2024 MEM Courses is open. The priority deadline is December 1, 2023 at 11:59 PM and the program will start processing enrollments during the week of December 4 - December 8, 2023. Requests received after the deadline will be reviewed on a rolling basis. Questions can be directed to mem@northwestern.edu, and to apply please:

APPLY HERE

Sample Syllabus
Wed, 08 Jul 2015 12:12:00 -0500 en text/html https://www.mccormick.northwestern.edu/engineering-management/curriculum/descriptions/426.html
The Best Project Management Software for 2024

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Let's say you build houses. It's a complex process, and some tasks must be done in a particular order. You can't install windows if you haven't put up the walls. You probably have dozens of certified working on the buildings, and you have to know which days they're available to pour the foundation, lay the tile, and so forth. You also have to assign tasks so that they're done in the correct order. And what if it rains one day? The whole schedule may change. The way to manage task dependency in a complex project like this one is to use project management software.

PCMag has been testing project management apps since 2015. In that time, we've tested (and retested) more than 25 project management tools. Here, we tell you about those services that scored the highest in our ratings, with a few notes about what makes them different. Below our recommendations is more information on what project management software is and advice on how to shop for the right app for your business or team. If you manage less complex projects, you can save a lot of money and get a better tool for your needs by exploring the best collaboration software instead.


Deeper Dive: Our Top Tested Picks

GanttPro

Best for Beginners

Why We Picked It

With reasonable pricing, an interface that anyone can learn to use, and a good balance of features, GanttPro is one of the best project management tools. We also appreciate that it includes custom fields for tasks, a kanban board view, a critical path feature, and a save history that allows you to do multiple undos.

Who It's For

GanttPro is one of the best project management apps for beginners. That also means it's an excellent pick for teams, especially small teams, that need an expert in project management to run their projects. However, it does not have customizable reports and dashboards that larger teams may need.

PROS

  • Competitively priced
  • Well designed and easy to learn to use
  • Includes custom fields for tasks, kanban board view, critical path feature
  • Saves history for undo

CONS

  • No customizable reporting tools or customizable dashboards
  • No billing or invoicing
  • Light on integrations

SPECS

Price Per Person Per Month 9.99
Storage Included at Price Listed 5GB
Free Version Available
Storage Space for Free Accounts N/A
Number of Projects in Free Account N/A
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Teamwork

Best for Client Work

Why We Picked It

Before Teamwork became focused on organizations that take on client work, it was already a superbly designed project management platform. If you are new to project planning, you could spend a bit of time using Teamwork and watching some of its excellent video tutorials to learn enough to use it in practice.

Who It's For

If your small business takes on projects for clients, then Teamwork is one of the best project management apps you'll find. It comes with billing and invoicing included, so it's easy to track hours worked on a project and know what to bill.

PROS

  • Simple and intuitive design
  • Great customization options
  • Billing and invoicing included
  • Free account available

CONS

  • No PDF or image markup tools

SPECS

Price Per Person Per Month $12.50
Storage Included at Price Listed 100GB
Free Version Available
Storage Space for Free Accounts 100MB
Number of Projects in Free Account 2
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Zoho Projects

Best for Small and Growing Teams

Why We Picked It

We picked Zoho Projects as one of the best project management apps because it offers excellent value. It's easy to set up and navigate, offers deep configuration options, and includes the option to track time worked. You can make your own project templates in Zoho Projects, but the app does not come with its own set of templates.

Who It's For

Zoho Projects is a low-cost project management app with an array of helpful features, which makes it an attractive option for small and growing businesses. Its tiered pricing, with attractively low rates, is also targeted at organizations that are on a budget and those that expect to grow quickly.

PROS

  • Excellent value
  • Generally easy to set up and navigate
  • Multiple ways to communicate in the app
  • Deep configuration options
  • Strong time-tracking tools

CONS

  • Does not include premade templates
  • Slightly unusual resource management view

SPECS

Price Per Person Per Month $5 (Premium)
Storage Included at Price Listed 100GB
Free Version Available
Storage Space for Free Accounts 10MB
Number of Projects in Free Account 2
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Why We Picked It

Celoxis is reasonably easy to use with a short setup time. Medium to large businesses will like that it includes time tracking, budgeting, and resource management tools. Celoxis offers two plan types, a cloud-hosted one that starts at $25 per person per month (and costs less if you pay for a year or two upfront) and an on-premise option that comes with custom pricing. The company formerly sold the on-premise plan for a flat per-person-per-year rate but no longer does. We still believe Celoxis has the best value among project management apps for medium and large organizations.

Who It's For

Celoxis is one of the best project management apps for medium and large organizations. This app provides ample reports and other tools that provide decision-makers and business owners value. For example, you can use Celoxis to not only work most efficiently by adjusting project schedules, but also to forecast revenue.

PROS

  • Ample reports and other tools for decision makers
  • Excellent value
  • Easy to use and short setup time
  • Includes time tracking, budgeting, and resource management

CONS

  • No proofing tools
  • No billing or invoicing features
  • No free version

SPECS

Price Per Person Per Month $25
Storage Included at Price Listed 2GB per User
Free Version Available
Storage Space for Free Accounts N/A
Number of Projects in Free Account N/A
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

LiquidPlanner

Best for Automated Scheduling

Why We Picked It

LiquidPlanner is impressive at managing projects, tasks, workloads, and more. It can automatically and dynamically schedule work for your whole team, even as factors change—which may not be everyone's cup of tea. If you're open to what LiquidPlanner offers, this app can project best- and worst-case scenarios for projects and tasks, dish up rich management and insight tools, and provide you the tools you need for time-tracking—as long as you opt for a Professional or Ultimate plan.

Who It's For

While LiquidPlanner can be a great project management app for teams of any size, we think it's especially well suited to larger enterprise teams working on complex projects. One reason is because LiquidPlanner's area of specialization is automated scheduling. If a pain point for your organization is scheduling people to take on certain tasks at specific times, then LiquidPlanner can help. This app comes with ample tools for automatically fixing project schedules when tasks slip or when workers are suddenly unavailable.

PROS

  • Automated, intelligent scheduling
  • Projects best and worst case scenarios
  • Rich management and insight tools for a variety of resources
  • Good time tracking included in Professional and Ultimate plans

CONS

  • Takes significant time to set up projects and learn to use
  • Some functions are difficult to find
  • Gantt chart is not interactive
  • No milestones
  • No nonimage attachments

SPECS

Price Per Person Per Month $45
Storage Included at Price Listed 100GB
Free Version Available
Storage Space for Free Accounts N/A
Number of Projects in Free Account N/A
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

ProofHub

Best for Proofing

Why We Picked It

ProofHub aims for simplicity without skimping on core project management features. It's also competitively priced for small teams. This app is surprisingly easy to use, making it great for teams that don't have dedicated project managers.

Who It's For

ProofHub is a project management app for teams that include proofing stages as part of their workflow. In other words, if your team evaluates or critiques visual materials—whether ad campaigns or mobile app designs—ProofHub has tools that other project management apps lack to help you through those processes. More specifically, it has markup tools you can use to draw on PDFs and image files while you provide feedback or otherwise collaborate on them with your team.

PROS

  • Quick and easy setup
  • Cost-effective flat rate pricing for midsize teams
  • Nice balance of features and simplicity
  • Good tools for discussing visual materials

CONS

  • Sometimes loads slowly
  • Lacks budgeting tools

SPECS

Price Per Person Per Month $50 (Unlimited Users)
Storage Included at Price Listed 15GB
Free Version Available
Storage Space for Free Accounts 25
Number of Projects in Free Account 1
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Redmine

Best for Open-Source Project Management

Why We Picked It

While Redmine isn't for everyone, we chose it as one of the best project management apps because it's free and open source, which is a rarity in the project management world.

Who It's For

Redmine is the go-to project management app for anyone who wants a free and open-source option—but you also need to have people on hand that know how to install and maintain it. Redmine is not an off-the-shelf project management app. It's focused on projects that include issue- and bug-tracking.

PROS

  • Free
  • Open source
  • Customizable
  • Includes time estimates, task dependencies, Gantt charts, project wikis

CONS

  • Requires self-installation and maintenance
  • No included support (beyond the online community)
  • Support limited to community docs
  • Not suitable for all teams and projects; favors software developers

SPECS

Price Per Person Per Month Free
Storage Included at Price Listed N/A
Free Version Available
Storage Space for Free Accounts N/A
Number of Projects in Free Account Unlimited
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Smartsheet

Best for Automations

Why We Picked It

If you're willing to put in the time to learn what Smartsheet can do and customize it to your needs, it's very powerful. It might become your go-to tool not only for project management but also for other collaborative business.

Who It's For

Smartsheet is the project management app for people who like to increase productivity through automations. That means you're willing to put in the time to set up "if this, then that" type commands that Smartsheet carries out for you automatically. For example, you might have an automation that says, "When someone marks a task as blocked, and the task status is 'in progress' or 'for review,' then alert the person assigned as the manager for that task." Most other project management apps don't have automation options built into them, though sometimes you can create them using third-party tools such as Zapier. One note about Smartsheet: Not all the tiers of service come with time tracking, budgeting, and resource management for free, though you can pay for the companion software that adds them.

PROS

  • Endlessly customizable and quite powerful
  • Supports automations, input from web forms, proofing and approvals
  • Robust resource management options for Business plan users

CONS

  • Lacks real-time time tracking and invoicing tools
  • Pages don't update in real time or autosave as frequently as we'd like

SPECS

Price Per Person Per Month $32
Storage Included at Price Listed 100GB
Free Version Available
Storage Space for Free Accounts N/A
Number of Projects in Free Account N/A
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

TeamGantt

Best for Easy Entry Into Gantt Charts

Why We Picked It

TeamGantt has lovely interactive Gantt charts that are incredibly easy to learn to use. The app has exceptional tutorial content to help you learn anything you don't know. We also love a feature that automatically corrects any errors created among dependencies.

Who It's For

TeamGantt is for beginners, because it's so easy and intuitive to use. If you don't know anything about Gantt charts, you will quickly and painlessly learn while using TeamGantt. We like this app best for small teams who may not have a dedicated project manager on hand. TeamGantt doesn't have budgeting or invoicing tools, which is another reason it's better suited to small teams rather than large ones.

PROS

  • Intuitive and easy to use
  • Excellent interactive Gantt charts
  • Exceptional tutorial content
  • Automatic dependencies correction feature

CONS

  • Features for discussions, notifications, and uploaded files could be improved
  • No budgeting or invoicing tools
  • Average reports

Wrike

Best for Managing Projects and Ongoing Work

Why We Picked It

Wrike is a powerful tool not only for project management but also for use as collaboration software. Now owned by Citrix, Wrike supports team collaboration, work management, and project management. It continues to grow by adding new work intelligence features that can, for example, predict when a project is at risk of falling behind and call attention to possible causes.

Who It's For

Wrike has a few paid plans targeted to very specific types of teams, namely marketing, creative industries, and professional service teams. Wrike is very good at what it does, so long as you put in some time to pick the right plan and learn its features—expect to work with Wrike's customer support on this process, rather than merely paying for an account and setting up the app on your own. In that sense, Wrike is for larger teams that have the time and resources to dedicate at least one person to work with Wrike during setup.

PROS

  • Modern, easy-to-use interface
  • Can manage both projects and ongoing work
  • Warnings when projects are at risk of slipping
  • Good proofing tools

CONS

  • Lacks robust budgeting and invoicing tools

SPECS

Price Per Person Per Month 9.80
Storage Included at Price Listed 2GB per User
Free Version Available
Storage Space for Free Accounts 2GB
Number of Projects in Free Account Unlimited
Dependencies
Gantt Charts
In-App Task Timer
Time Estimates
Markup Tools
Resource Management
Budgeting
Billing and Invoicing
Customizable Roles/Permissions
Guest/Client Access

Buying Guide: The Best Project Management Software for 2024


What Is Project Management Software?

Project management software, sometimes called PM software, is a type of online collaboration tool. All the people who are working on a project log in and see what they're supposed to do and when. These workers also record their progress on those tasks and add relevant details, such as notes about any changes. With the appropriate permission level, people can also learn more about what everyone else is doing, what requirements must be met for them to get it done, and when.

For the project manager, the project management app provides a clear overview of each project's progress. Are all the tasks on track to be completed on time? If one task is late, how does it affect the projected deadlines of items on the task list? Is someone available to pick up an urgent task if the person assigned to do it is ill? Plus, if the project management app supports tracking finances, the app will also tell the people in charge whether the project is running on budget.


How We Choose the Best Project Management Software

For this list of the best PM software, we evaluated and tested more than 25 project management platforms and have included here the products with the highest scores. Inclusion is based on PCMag's independent testing and evaluation. In determining scores, we consider the needs of a variety of business types, including small businesses on a budget and large organizations that need to manage many complex projects, people, and budgets simultaneously. We also look at ease of use, features, and value.

For this category, we stick to traditional project management apps only. These apps are specifically created to manage projects. A project is a set of work with a start date, an end date, and a deliverable. We don't include apps for managing ongoing work, such as answering support emails.

To be included in this list, the app must offer Gantt charts, which are a type of timeline view commonly used in project management. All the apps included here also have other standard tools in addition to Gantt charts for tracking, organizing, and scheduling project-based work.

While there are many excellent workplace collaboration apps and task management apps that are sometimes called "project management apps" (such as Trello, Basecamp, and Airtable), we don't include them here. Collaboration or work-management apps are very capable when it comes to managing certain kinds of work, but they aren't necessarily designed for juggling the complexities of dozens or hundreds of projects and their schedules simultaneously. Therefore, we don't include them here.

Gantt chart view in Zoho Projects

Zoho Projects' Gantt chart view (Credit: Zoho)


What Can You Do With Project Management Software?

Project management apps let you track progress and manage nearly any kind of project, such as the creation of a new product, building a house or website, or launching a marketing campaign. Teams that use project management apps tend to track more than one project at a time. The software helps them figure out when to schedule work based on when things need to get done and the human resources available to do them.

The best project management apps detect problems before they happen through detailed task management. By tracking the progress of work and individual tasks (for example, having completed six hours of a task that's estimated to take a total of eight hours), project management apps can sound an alarm when a deadline is in danger of slipping, but before it actually happens. The most powerful project management apps also offer to automatically reflow the project schedule when tasks do fall off course. They generate reports that provide project managers insight into which team members have too much or too little work assigned. Some let you track project budgets and log billable hours so that you can send invoices to clients for time worked.

A full view of the TeamGantt interface

TeamGantt's Gantt chart and workload view (Credit: TeamGantt)


What Is the Best Free Project Management Software?

A few of the best project management software systems have a free plan. The only one that made this list that is truly free is Redmine—more on that service momentarily. The free plan for most apps is severely limited in some way. For example, you might be allowed to manage only one or two projects at a time or invite only a handful of people to work alongside you. In the paid plan, you might get unlimited projects. Plus, you usually don't get all the most advanced features of the paid plan in the free plan. Still, if you have a small team and only need to manage one or two projects, it might work. Free versions also let you try out the app before deciding whether the paid plans meet your needs.

You can get a free account from Zoho Projects, Teamwork, Wrike, TeamGantt, ProofHub, plus a few others that did not make this list, such as AceProject

Redmine is a 100% free PM tool, but you have to install and maintain it yourself. It's not an off-the-shelf product but rather an open-source alternative that requires you to have your own tech support. If you're looking for something simple to start using right away, Redmine isn't it. For simplicity, you're better off with Zoho Projects, TeamGantt, or AceProject.

Teamwork dashboard

Teamwork's project management dashboard (Credit: Teamwork)


What Project Management App Is the Easiest to Use?

If you're new to project management and especially if your organization doesn't have a dedicated project manager, you need a project management app that's easy to use.

TeamGantt and GanttPro are the easiest project management apps to learn and use. They are both designed for beginners and other people who are inexperienced at project management.

Many of the project management apps we've reviewed are easy to use, provide good video tutorials, and work well for beginners, but after testing dozens of them, we believe GanttPro and TeamGantt are best.

In testing, we found that some rather popular and well-known project management apps, such as Microsoft Project, are not especially easy to use if you are new to them or not a professional project manager. While we have reviewed many of those tools, not all of them scored high enough to be included in this list of the best project management apps.


What's the Best Project Management App for a Small Business?

If your project team needs to manage and track a couple of projects, but you're less concerned with employee scheduling, collecting time sheets to bill clients, and comparing the progress of multiple projects in development, a low-cost tool such as Zoho Projects (starting at $5 per person per month for Premium) is your best bet. What we especially like about Zoho Projects is that it scales easily if your team ends up growing and needs more features. Zoho, the company, offers a wide range of other business apps that can connect to Zoho Projects to expand what you can do with it.

We also like GanttPro as a low-cost option. It's one of the easiest tools to use and is great for people with limited or no prior experience with project management.

There's no need to spend more than about $15 per person per month if you aren't going to use the tools that are unique to more expensive software, so stick with something inexpensive.


What's the Best Project Management App for Large Organizations?

Large organizations have starkly different needs than small businesses. Organizations with hundreds or thousands of employees and hundreds of projects use project management apps for scheduling, insights into their resources, budget-tracking, revenue projection, and time-tracking for billing purposes, among other reasons.

Recommended by Our Editors

For a large company, it's important to be able to manage not just individuals but also teams. If you have 15 hours of work for a junior designer, and it doesn't matter which junior designer does it, you want to see how much work each junior designer has assigned to them and whether you can free up one of them for the task.

For the same reason, all the managers and team leads in your company should be able to see what tasks are high-priority and which projects are in danger of slipping so that they can triage accordingly.

If your organization handles complex projects and has many team members collaborating on projects, we recommend Celoxis or LiquidPlanner.


What Project Management Software Has the Best Special Features?

Teams that are neither small businesses nor enormous organizations may have special needs that they want their project management software to address.

Our top pick in this category is Teamwork, which is specialized to handle client work. If your team primarily completes projects as billable work for clients, then Teamwork should be on your shortlist. It includes billing and invoicing, as well as the ability to create intake forms for new projects. Another app called Paymo, which didn't quite score highly enough for this list, also has built-in billing and invoicing tools.

There are other areas of specialization for project management software, of course. If you're looking for a tool that can manage both project and non-project work, we recommend Wrike or Celoxis. (LiquidPlanner is a good pick, too, but we think it's best for large groups.) If your team spends a lot of time discussing and iterating visual assets, ProofHub is a great choice. Smartsheet is good for building automation into your project management.


Choosing the right project management software can take time, but it's worth having as much nailed down as possible before rolling the solution out to an entire team. Project management apps typically have a significant setup cost. Even when they are simple to learn to use and let you import project data, it still takes time to fine-tune the app to do what you need it to do and then get everyone on board using it.

It's also important to consider what kind of work your team does, how many people are in the organization, and how you want to run your business. There are a lot of excellent options to fit every budget.

With a reliable project management solution in place, people can collaborate with greater ease on project work. Plus, small business owners and team managers can get useful insights into how their teams work, whether projects are on track, and how to guide them back to a successful place when they slip.

Sun, 17 Dec 2023 10:00:00 -0600 en text/html https://www.pcmag.com/picks/the-best-project-management-software




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