Microsoft Project Professional is the world’s most popular project management software as it helps managers in developing plans, assigning tasks to members, tracking the progress of tasks, controlling finances and schedules, communicating project information, and organizing work and manpower in a Work Breakdown Structure format clearly explaining the tasks for a project and their assignment to specific resources in the team. However, in order to create/update the schedule/plan, you need to use MS Project Professional software which incurs installation effort as well as licensing cost.