5 Extremely Cheap Project Management Software Products You can Consider in 2024

Finding right project management tools can be difficult, especially when you’re low on budget. However, that doesn’t mean you have to settle for low-quality platforms that can barely provide you with the solutions you need. There are plenty of affordable options out there that can give you powerful features ranging from task management to time tracking without breaking the bank. This is why we’ve prepared this article to help you out in choosing cheap, yet efficient project management software products.

Business undertakings require good teamwork, effective communication, and most importantly, careful planning and execution. Whether you are working on something as simple as organizing an office gathering or something as elaborate as launching a new product, these factors play a big role in ensuring the success of your endeavors. In fact, in a survey by PricewaterhouseCoopers, results show that 97% of professionals believe that thorough project management is critical to business performance. The question now is, “how can you organize your projects properly and make sure that everyone on your team follows through on your plan?” Well, this is where project management software comes in.

Built to increase productivity and efficiency in the workplace, these platforms can resolve a number of pain points for many project managers and entrepreneurs. As seen on the table provided, many projects fail due to a lack of change management, inadequate risk planning, sudden changes in strategy, as well as poor communication. On top of that, according to a study by the Standish Group, only a third of projects get completed on time and on a budget in a year.

By reinforcing your operations with a project management solution, you can avoid these problems and even improve the overall performance of your team. These platforms come with an array of tools created specifically for project management purposes. Be it task management, work delegation, resource allocation, or time tracking, you can count on these applications to equip you and your team with everything you need to streamline and simplify your work.

Unfortunately, despite having numerous benefits, entrepreneurs still tend to shy away from these types of software because investing in one can cost quite a lot. Luckily, there are plenty of affordable choices on the market, and with these, you can easily reap the benefits of this type of software without spending a fortune. Without further ado, here are the five cheap project management software products available on the market. Of course, these aren’t the only options available. If you’d like to browse for other platforms, you should also take a look at our list of top project management systems.

How do cheap project management tools compare to expensive alternatives?

When considering project management tools, the price tag often varies significantly. While premium tools may offer a wider range of features, cheap project management software can still provide robust functionality at a fraction of the cost. Here’s how budget-friendly options compare to more expensive alternatives:

• Core Features vs. Advanced Features: Cheap tools typically offer essential features like task management, time tracking, and collaboration. However, expensive tools may include more advanced features like resource management, custom workflows, and AI-powered insights. The key is determining which features are most important for your business needs.
• Customization Options: Premium software usually allows deeper customization regarding templates, reporting, and dashboard views. On the other hand, cheaper tools might have limited options for tailoring the interface to your team’s preferences. Despite this, many budget tools are flexible enough to meet basic project requirements.
• Scalability: Expensive tools tend to scale better, offering enhanced performance, more integrations, and support for larger teams and complex projects. Cheap tools may limit the number of users, storage, or integrations, which could become an issue as your business grows.
• Customer Support: One area where expensive tools typically shine is customer support, with dedicated teams and 24/7 assistance. In contrast, cheaper tools may offer limited support, often relying on FAQs or email-based assistance. For small teams, however, this may not be a significant downside.
• Ease of Use: While cheap and expensive tools aim to improve efficiency, budget tools are often designed for easy use and quick onboarding, perfect for small teams with limited training time. Premium tools may offer more robust features but can be more complex, requiring a steeper learning curve.

1. monday.com

For just $49 per month for 5 users, monday.com heads our extremely cheap project management software that you can consider. Clean, intuitive and visually stunning, this fully powered project management tool gets to the heart of your project workflows and delivers automation to relieve you of process bottlenecks and headache.

monday.com features timeline views to get you to the center of tasks and assigned team member so you know where any stage of your project stands. Switch to map view so you get a holistic picture in an instant, and clear up with works that are holding the whole workflow. What’s more, the vendor has an appealing free trial where you can tinker with the features at no cost.

monday.com

Try out monday.com with their free trial

VISIT WEBSITE FREE TRIAL

Customize dashboards any way you want so you get on top of activities within your own comfort level. Add in logos and themes to get that professional touch when showing things off with project shareholders and other team members.

Need to reach out with any staff or the manager? Easily done with monday.com’s email integration, eliminating the need to switch to your email app of choice.

If storage issues have been plaguing your projects before, 50GB of space should more than take care of that. The centralized repository makes collaboration a breeze, ensuring that required documents, blueprints, approval forms get to the intended recipients in a timely manner.

Why Choose monday.com?

1. Get anyone on board quickly, simply. No need for circuitous loops, labyrinth approval corners: a simple email will do the rest. Sign up, sign in, start contributing, share and collaborate any way you wish.
2. Customize and automate workflow. Project management is all about moving essential works fast. This cannot happen if each task comes with a dozen mundane tasks getting in the way. monday.com relieves you of these redundancies so you can focus on essential tasks, quickly.
3. Fully visual. From kanban board or chart view to files or calendar view, you get a snapshot of your projects to act on any section that needs your immediate attention.

2. Wrike

Wrike is built to help professionals improve the efficiency and productivity of their operations. It is fully equipped with tools that let you schedule, prioritize, manage, discuss, and monitor projects without having to use multiple programs. 

Wrike offers a handful of great features such as its intuitive task prioritization, interactive timeline, real-time newsfeed, workload management, and data protection tools. On top of that, this platform is completely accessible on mobile devices to help you work on the fly. It can also be integrated with file storage software like Google Docs and Dropbox to help you make document management easier.

Wrike

Try out Wrike with their free trial

Wrike recently introduced a number of new features to help you better in your project management tasks. For instance, it now has a built-in job number feature, where a unique task identifier is assigned automatically for every project you do, making referencing and searching significantly simple. It also introduced a new, simplified, and enhanced dashboard that allows increased visibility, improved navigation, etc. You can also build your own dashboards directly from Wrike’s templates.

Why Choose Wrike?

1. Optimized File Management. Having an organized filing system is important when you are tackling projects for clients. To help you optimize the way you keep your documents, Wrike offers an optimized file management system that lets you upload and edit documents without saving attachments to your computer. This way, all your team members can get access to the files and even see any changes to them in real-time. Data protection options are also available so that you can safeguard all your confidential company information from prying eyes.
2. Efficient Resource Tracking Tools. Project managers need to know every aspect of the projects they handle. This is why Wrike comes with a visual timeline that lets you get bird’s eye view of your project schedule, delegations, and dependencies. It even has a resource management tool that allows you to balance assets and track performance as well as time and budget tracking capabilities that let you know how time and money is being spent on each project.
3. Customizable Workflows. Streamlining projects can be complicated. With Wrike’s customizable workflow planning tool, you can set the pace for every project you undertake more efficiently. This feature will allow you to gain visibility into your work at each stage, determine the resources you’ll be needing, set an accurate timeline for your project, and more. It can even be customized to match your business’ existing workflow if you wish.  

3. Smartsheet

Smartsheet is an online project management solution designed for large enterprises. It empowers users to manage tasks, budgets, resources, content, digital assets, and more. It functions not only as a project management tool but also as a tool for crowdsourcing, sales pipeline tracking, team collaboration, and governance and administration.

Smartsheet can be accessed from any browser and device. It also comes with a mobile app version so users can get updates related to projects while on the go. The platform allows for easy visualization of work as it has several view options, namely grid, card, Gannt, and calendar. These visual timeline management features combined with workflow automation make business processes a lot more effective and efficient.

It is easy to configure this system according to your existing workflow because it works well with other systems you are already using. It can connect seamlessly with over 70 applications, which include ERP, CRM, Data Warehouse, and LDAP, among others. You also have the option to acquire its premium add-ons like the DataMesh, which maintains consistency of data across all spreadsheets, the Pivot App, which summarizes data so you can make business decisions faster, and the Calendar App, which is engaging and interactive and helps with schedule management.

All in all, Smartsheet serves as a solution for businesses in various industries, including IT and Ops, marketing, financial services, higher education, healthcare, life sciences, and construction. A recent report shows that it has delivered 680% ROI to its customers.

You can test out the effectiveness of this platform for your business with its free trial version. After which, you can choose among three pricing plans: Pro Plan ($7/user/month), Business Plan ($25/user/month), and Enterprise Plan (get a quote from the vendor).

Why Choose Smartsheet?

1. Collaborative Workspace. Smartsheet has a friendly and intuitive UI that makes it easy for users without any technical knowledge to learn how to use and navigate it. In no time, users will become more in sync with each other while they work to streamline processes and automate tasks. They will also be more accountable because of the visibility of tasks and progress the software gives.
2. Automated Workflows. Automation saves businesses a lot of time and resources. With Smartsheet, you can automate tasks without having to hire IT experts. You can eliminate repetitive tasks, prompt team members to create a progress report, and get automatic reminders for when projects and tasks are due.
3. Real-time Visibility. Stay informed and get real-time updates using Smartsheet Sights and live reports. Make business decisions in an instant using data from all business functions. Also, ensure that your data is consistent across all platforms and all stakeholders access only a single version of the truth through this centralized platform.

4. Zoho Projects

Zoho Projects is an intuitive and user-friendly project management solution trusted by companies such as Intel, Jaguar, and Timex. Created for planning and tracking projects, it can help you divide projects into manageable units so that measuring their progress is much easier. This mobile-ready platform also offers a number of other features to reinforce your project management needs like custom reporting, time tracking, meeting organization, bug tracking, and document management.

Zoho Projects is available for free if you have a team of five or less and only handle 2 projects at a time. However, if you have a larger workforce and a heavier workload, you may also choose from their four paid plans. Zoho’s Standard, Express, Premium, and Enterprise plans are priced according to the number of users and projects you will be handling at a time and can easily be upgraded or downgraded depending on your needs. They cost $25, $50, $100, and $150 per month when billed monthly but you may get discounted prices when you choose to have them billed annually.

Zoho Projects

Try out Zoho Projects with their free trial

Some of its newest features include Blueprint, a tool that allows users to generate workflows, connect activities, and monitor them across the entire workflow process. It now also has project status & custom fields feature. This allows you to include project statuses and then monitor them. In the project layout view, users can now add new sections and organize various custom fields. From the task classic view, you can also easily modify task durations, e.g., from days to hours, days to weeks, etc.

Why Choose Zoho Projects?

1. Online Gantt Chart. Overlooking details can have costly consequences. Make sure you get a clear view of the status of your projects and the dependencies between tasks with Zoho Projects. The platform has an online Gantt Chart with drag-and-drop functionality to make it easier for you to plan, reschedule tasks, or make changes to your workflow. The tasks you enter into the chart can even be filtered by start date, end date, duration, or percentage complete depending on what your priority is.
2. Time Tracking Capabilities. Time is the most valuable resource in business, so you need to make sure that every second is used wisely. With Zoho Projects’ time tracking capabilities, you can create timesheets and have them into various formats automatically. The platform can even load all this data into your accounting system to make invoicing and billing much easier and more transparent.   
3. Seamless Integrations. Project management is only one aspect of your business. This is why Zoho Projects is built to support integrations seamlessly. Aside from being able to run alongside other Zoho applications, Zoho Projects can also handle third-party applications such as Slack, Zapier, GitHub, Dropbox, and Basecamp. This way, you won’t need to put extra effort into finding compatible applications or using multiple platforms for your operations.

5. Infolio

Infolio is a tool packed with powerful features for task management and team collaboration. More than 40,000 teams leverage this platform’s capabilities for a more collaborative environment, more efficient work, and less spending on other systems.

Some of Infolio’s features are multiple views, dedicated project chats, and visual boards. It allows you to handle an unlimited number of projects. You can also attach and share files, create, assign, and manage tasks, leave comments, receive notifications, track project status, and more. given all these features, Infolio can stand as an all-in-one project management suite.

What’s more, Infoio also has advanced features like custom workflows, which allow users to modify the platform based on project requirements and use it as a personal, lightweight CRM.

Infolio also has built-in project templates that can help you be approach work in a more structured and organized way. Its drag-and-drop interface makes it easy for non-tech savvy members to also benefit from its features.

The platform integrates with popular cloud services, including Google Drive, Dropbox, and OneDrive. For pricing, it offers a free Standard plan and paid Professional plan, which comes for $4.99/user/month.

Why Choose Infolio?

1. Centralized Platform. Infolio can serve as a central hub where you can store and manage all your business information and documents. You can also track comments, project history, and file versions associated with tasks. This software makes it easier to know who is accountable for what work, what is causing issues and how to solve them, and where collaterals are located.
2. All-in-one Solution. This platform eliminates the need for other systems. You can keep all your documents, conversations, and tasks in one place. This can result in a streamlined workflow and increased productivity.
3. Highly Customizable. When you acquire this solution, you are acquiring not only a task management system but also a lightweight CRM. Infolio has custom data fields, which means users can add different values to tasks, including numbers, dates, checkboxes, dropdown menus, texts, and more. You can add almost every kind of information such as contact details and email addresses.

Bonus: ProjectManager

ProjectManager is a feature-rich project management solution built to help professionals perform routine tasks effortlessly. Equipped with comprehensive and intuitive tools, this platform can help you create and map plans as well as simplify collaborations within your workplace. Whether you need task management solutions, advanced reporting features, time tracking options, or workload management tools, this software has your requirements covered. It also has security options that you can customize according to your operations’ needs. To help you personalize the platform, even more, this system can be integrated seamlessly with various plugins and third-party applications.

ProjectManager offers three subscription plans priced according to the number of users who will be enrolled in the system and the types of features you will need. The Team plan can hold up to 10 users and costs $20/user/month and the Business plan can support up to 20 users and costs $25/user/month. If you have a team of over 50 employees, you may choose to request a quote from their sales team. You can also avail of its free trial first.

Some of its recent features include a number of enhancements. For one, you can now quickly import any project file (CSV, Excel template, or Microsoft Project) to automatically occupy your online dashboard and view the actual progress of your projects. Monitoring of your projects also became a more agile process as you can view their health status in easy-to-understand colors (green, yellow, or red), allowing you quickly see their progress and do the necessary follow-up actions.

Why Choose ProjectManager?

1. Project Planning and Scheduling Tools. No matter how large or small your project, ProjectManager has tools to help you finetune your process. It lets you plan the details of each project, separate them down into actionable tasks, as well as set due dates for your tasks. The system even has the capacity to support file attachments so that you won’t need an external file storage software for your documents.
2. One-Click Reports. The success of your project lies in being able to determine which of your strategies are effective and which are not. To help you gauge this, ProjectManager has real-time dashboards that can be accessed whenever and wherever you want. This tool allows you to monitor time, budget, and team workload in one window. You may even print the reports out or save it in pdf format so you can easily share them with clients, stakeholders, and other interested parties.
3. Team Management. Managing your team effectively can be difficult if you don’t know what your team members are doing at a given time. To help you see who’s available and who’s overloaded, ProjectManager has a team management tool that lets you get a color-coded overview of your team’s workload, holidays, hourly availability, and more. This feature even has integrated timesheets so you don’t need to invest in a separate platform to calculate billable hours.

Some Final Notes

The success of each project you undertake is only as good as the efficiency of your workflow. And whether you own a small startup or a large conglomerate, one of the best ways to do this is by investing in a project management software. These tools can provide you with top-of-the-line tools that help you optimize the way you plan your endeavors, meet deadlines, and more. The best part about them is that there are plenty of affordable yet scalable options to choose from. Hopefully, with our list, you were able to find a platform that can cater to the needs of your operations without compromising your company’s budget.

So how do you choose the most suitable project management tool for your business? Because each project and each team are unique, there’s really no one-size-fits-all solution. In this regard, it’s prudent to undertake some best practices before you make that final decision.

• First, you must sum up all your needs. You must also include things such as the new features do your teams need, the area/s where your current tool had failed, etc.
• You then search for alternatives. Begin with vendors that offer the features that you require, search online and seek the help of peers.
• Once you have a short list, test them and examine them versus your business requirements.
• Analyze the costs. You need to evaluate the different rates offered by the vendors, including whether what subscription plan would work for you.
• Implement the project management solution. To efficiently do so, you must outline an implementation plan, including the need for training, etc.
• You must evaluate the software and how your team is performing with the new project management platform. Do this periodically to allow adjustments to be made proactively in problem areas.

Are you still unsure if any of these software solutions are a good fit for your business? If so, feel free to check out our buyer’s guide to online project management platforms.

This should give you a better idea of what to look for when browsing through project management platforms.

Lastly, if you avail of monday.com’s free trial offer, you’ll be able to test-drive its features to ascertain if it’s the platform for you or not.

Key Insights

• Project management software enhances productivity and efficiency by providing tools for task management, work delegation, resource allocation, and time tracking.
• Despite the cost concerns, many affordable project management tools like monday.com, Wrike, Smartsheet, Zoho Projects, and Infolio offer comprehensive features for businesses of all sizes.
• Project management software can address common reasons for project failure, such as lack of clear milestones, poor communication, and inadequate risk planning.
• Tools like monday.com and Wrike offer highly customizable workflows, which help streamline project management processes.
• Smartsheet provides real-time visibility and automated workflows, making it suitable for large enterprises.
• Zoho Projects and Infolio are known for their user-friendly interfaces and seamless integrations with other applications.
• Free trials offered by these platforms allow businesses to test the features before making a financial commitment.

FAQ

1. What is the best cheap project management software? The best cheap project management software is monday.com. It automates workflows, has a visually appealing and customizable dashboard, and offers a centralized repository for easy document management.
2. Why should I consider using project management software? Project management software can significantly enhance productivity and efficiency by providing tools for task management, resource allocation, and time tracking. It helps in avoiding common project pitfalls such as poor communication and inadequate risk planning.
3. Are there free trials available for these project management tools? Yes, most of these project management tools, including monday.com, Wrike, Smartsheet, Zoho Projects, and Infolio, offer free trials. This allows businesses to test their features before committing financially.
4. Can project management software integrate with other tools? Yes, many project management tools offer seamless integrations with popular applications such as Google Drive, Dropbox, Slack, and more. This enhances their functionality and allows for better workflow management.
5. How do I choose the right project management tool for my business? To choose the right project management tool, start by summarizing your needs, including the features required and areas where your current tools fall short. Then, search for alternatives, test them against your requirements, analyze the costs, and implement the chosen solution. Periodically evaluate its performance and make necessary adjustments.

By Stephanie Seymour

Stephanie Seymour is a senior business analyst and one of the crucial members of the FinancesOnline research team. She is a leading expert in the field of business intelligence and data science. She specializes in visual data discovery, cloud-based BI solutions, and big data analytics. She’s fascinated by how companies dealing with big data are increasingly embracing cloud business intelligence. In her software reviews, she always focuses on the aspects that let users share analytics and enhance findings with context.