The price of project management software, or work management software as its sometimes called, will vary depending on many factors, including:
· The software vendor. Vendors set their own prices, so costs can vary widely across companies.
· Software functionality. Not all software solutions come with the same functionality. For example, a vendor may offer a basic model package as well as a more advanced solution.
· Size of your business. Project management software costs typically vary depending on the number of users and/or volume of storage space that’s required.
Most project management software vendors offer several different packaging options, either separated by business size or add-on features. Therefore, the easiest way to understand how much work management software will cost for your business is to check out the top software providers and then review their individual pricing for whichever package meets your needs.
There are plenty of free project management software options on the market, but these come with their own hidden costs. For instance, many free software options lack training and support. This lack of support means that you’ll need to spend more on implementation, ongoing maintenance, and upkeep of the system than you would with another solution.
There are also costs of not having project management software. As we talked about in the last section, without project management software, you’ll spend more time completing tasks and increase the chance of errors, both of which cost you money.
Project management software also makes communication and collaboration much easier. And when you consider that poor collaboration and communication can cost your team $130,000 per year, even the most expensive project management software starts to look very affordable.