The project management software enables project managers and other team members in ideating, planning, implementing, tracking, and delivering projects of all sizes and kinds on time. A project management software has been created in such a way that the user can plan and store project responsibilities and events, make agendas and deadlines, address project challenges, allocate and manage project-related expenses, set up association and support among team members, manage quality, bring together project teams, and manage human resources as well as project updates. The best project management software allows businesses to efficiently manage their projects through all the phases of the project lifecycle, right from ideation and commencement to implementation and conclusion.
360Quadrants has released a quadrant on the best project management software to help businesses make quicker and more informed decisions. The companies are ranked into quadrants after analysing companies based on their product portfolios and business strategies.These quadrants are updated every three months based on the market and regional analyses and developments happening in the project management industry. 360Quadrants conducts an in-depth SWOT analysis that helps service providers to learn more about new opportunities and areas where they might be lagging behind their peers. It further helps clients choose the most appropriate vendor for their requirements.
Categorization of Project Management Software Providers
360Quadrants has evaluated the top 45 companies in the Project Management Software market, out of which 18 companies have been categorized as Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
Asana, Smartsheet, Wrike, Airtable, Zoho Projects, Trello, Basecamp, MeisterTask, ClickUp, Teamwork, WorkFront, Aha!, and Monday.com have been positioned as Visionary Leaders because they have an established product portfolio and a robust market presence and business strategy.
Proofhub and Teamleader have been named as Innovators as they have focused product portfolios and innovative business strategies.
Redmine has been listed as an Emerging Company, as it has a niche product offering and decent business strategies.
Flow, Freedcamp, EasyProjects, and Thrive have been positioned as Dynamic Differentiators because they are largely dependent on their competitive R&D activities.
360quadrants Company Evaluation Methodology
The top vendors in Project Management Software market are rated based on the following methodology:
1. A highly experienced team of researchers and senior analysts conducts extensive research to generate a list of vendors (competitors).
2. A patent-pending algorithm is used for collecting inputs from key stakeholders—industry experts, buyers, vendors, and 360Quadrants analysts—based on criteria for product maturity and company maturity.
a) The criteria under product maturity include breadth and depth of product/service offering, product features and functionalities, product differentiation, and their impact on customer value.
b) The criteria under company maturity include geographical footprint, partner ecosystem, financial stability, and client coverage or sector footprint.
c) Approximately, 20+ in-depth parameters are considered for research into the global Project Management Software market. These parameters will be then updated every six months to ensure the latest developments are taken into consideration.
d) A weight is assigned to each stakeholder based on the information that is gathered pertaining to the above criteria as well as inputs from stakeholders. These inputs follow the order of priority given below:
The inputs are then analyzed and a final rating is assigned to each vendor (competitor).
After the finalization of ratings, each vendor is placed in the most relevant quadrant based on their score.
360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spends and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insight using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
360Quadrants will also be launching quadrants in fields like Accounting Software, Human Resource Software, and Virtual Machine Software.