8.9
Editor’s Rating:
Best Overall
Smartsheet: Tasks
Smartsheet
  • Effective time tracking and documents storage
  • Configure, adapt, and improve work processes
  • Individual, Standard, and Enterprise packages available
8.7
Editor’s Rating:
Most Versatile Option
Monday.com: High Level Overview
Monday.com
  • User-friendly design
  • Free for up to two seats (individual)
  • Integrates with Google Workspace and Slack
8.5
Editor’s Rating:
Best for Construction and Engineering
Project Insight: Task List
Project Insight
  • Modular architecture
  • Responsive customer support
  • Efficient job-carding

Here’s a rundown of the top 7 project cost management software based on core features, cost, and customization options.

1 Smartsheet - Best Overall

Why We Chose It: Smartsheet is our top project cost management software pick because of its advanced automation capabilities. These enable users to manage various operational facets, including a ticket system and budget tracking. Furthermore, by updating a single sheet, linking and VLOOKUP features can automate other sheets without even opening them. This capability not only streamlines processes but also minimizes human error, which is crucial for cost management.

Smartsheet’s real-time collaboration features aid comprehensive project visibility. This real-time sharing extends to both internal teams and external stakeholders, ensuring that everyone involved in a project is updated and on the same page. The platform offers a centralized system for managing tasks, projects, and deadlines, ensuring everyone remains accountable. This centralized transparency ensures better project and cost oversight.

Best Overall:
Smartsheet

Smartsheet: Tasks
Smartsheet: Dashboard
What We Like
Configure, adapt, and improve work processes
Individual, Standard, and Enterprise packages available
Real-time visibility
What We Don’t Like
Client based pricing
No bulk invoice creation
Overview
Price Range: $
Starting Price: $7/month
Client OS: Web
Deployment: Cloud Hosted

2 Monday.com - Most Versatile Option

Why We Chose It: Monday.com is our most versatile pick because it caters to numerous use cases and industries. For example, manufacturing teams can use it to track inventory and manage production schedules. Sales agents can manage leads and sales pipelines. And software developers can do code collaboration and bug tracking.

Monday.com offers a customizable platform for project cost management. Users can set up boards to monitor expenses, adding columns to compare budgeted, actual, and remaining costs. The software supports automated calculations and integrates with tools like Excel for data import and report generation. This ensures teams effectively manage their budgets and achieve their goals.

Most Versatile Option:
Monday.com

Monday.com: High Level Overview
Monday.com: Planning
Monday.com: Team Weekly Tasks
What We Like
Clean, intuitive design
Free for up to 2 seats (Individual)
Integrates with Google Workspace and Slack
What We Don’t Like
Does have additional costs
Difficult to find clients when they have multiple projects
Overview
Price Range: $
Starting Price: $8/user/month
Client OS: Web
Deployment: Cloud Hosted

3 Project Insight - Best for Growing Companies

Why We Chose It: We found Project Insight good for growing companies because of its customization options. As companies expand, their needs change. Project Insight’s high customizability allows businesses to mold the software according to their evolving requirements. This adaptability ensures they aren’t stuck with a one-size-fits-all solution. With varied subscription packages, businesses can optimize their investment by paying only for the features they genuinely require, ensuring they aren’t overspending as they scale.

As businesses expand, decision-making becomes more complex. They may also face challenges with disparate systems. Project Insight’s integration with tools like MS Outlook, QuickBooks, Jira, Salesforce, and Zendesk offers a centralized hub for project and resource management.

Best for Growing Companies:
Project Insight

Project Insight: Task List
Project Insight: Projects Overview
Project Insight: Project Report
What We Like
$3 per add-on or $35 for Enterprise
Aggregates work from CRM, Finance, Dev, and HR software
Starts free for unlimited users
What We Don’t Like
Additional features for higher costs
Overview
Price Range: $$$
Client OS: iOS, Android, Web
Deployment: Cloud or On-Premises

4 Genius Project - Extensive Integrations

Why We Chose It: Genius Project provides broad integration capabilities with platforms like Microsoft Project, IBM Notes, Microsoft Outlook, SAP, and AP automation software. Whether deployed from the cloud or hosted on-premise, it offers user-friendly, modular accounting and business process solutions tailored for small to mid-sized custom manufacturers, covering the full engineering-to-cash cycle.

With its unified database, Genius Project caters to all company functions, features advanced planning tools, and manages intricate manufacturing processes. By utilizing its modules, organizations can enhance information-sharing across both large and small teams. Last, it integrates and synchronizes with MS Project plans.

Extensive Integrations:
Genius Project

Genius Project: New Project Template
Genius Project: Genius Project Agile
Genius Project: Project Billing
Genius Project: Resource Management
Genius Project: GATE Phase
Genius Project: View All Projects
Client OS
Web
Deployment
Cloud Hosted

5 mpower - Best for Construction and Engineering

Why We Chose It: We think mpower stands out for construction and engineering firms due to its precision in performance measurement. Mpower enables accurate project performance monitoring by allowing detailed time recording, managing costs, and optimizing expenditure. The software excels in budgeting, offering insights into project profitability by comparing budgets, actuals, and forecasts, and overseeing change requests and cost growth. Users can generate invoices and project valuations through a structured rate system encompassing timesheets, chargeable items, and fixed pricing.

Best for Construction and Engineering:
mpower

mpower: Budget Forecasting
mpower: Sales Invoices
mpower: Employee Details
mpower: Bill of Materials
mpower: Project Schedule
Client OS
Web
Deployment
Cloud or On-Premises

6 Wrike - Best for Small Teams

Why We Chose It: Wrike is a dynamic project management software suited for smaller companies, marketing teams, agencies, and service providers. With diverse and sometimes rapidly-changing needs, small businesses benefit from its customizable workflows.

Wrike’s tiered pricing ensures that businesses can choose a plan that aligns with their budget, avoiding unnecessary expenses. Small organizations may not have the luxury of a dedicated training department. Regular training webinars offered by Wrike equip teams with the necessary knowledge, reducing the learning curve.

Best for Small Teams:
Wrike

Wrike: Dashboard
Wrike: Create Gantt Charts
Wrike: Team Dashboard
Wrike: New Project Details
Wrike: Marketing Tools
Wrike: Generate Milestones
Wrike: Create Project Widgets
Wrike: Project Planning
Wrike: Project Dashboard
What We Like
Cloud-hosted
Includes custom workflows, dashboards, and collaboration tools
Multiple pricing plans
What We Don’t Like
Not ideal for large teams
Advanced features mainly in Enterprise plan
Overview
Price Range: $$
Starting Price: $9.80/user/month
Client OS: Web
Deployment: Cloud Hosted

7 Contruent Enterprise - Best for Large Construction Projects

Why We Chose It: Contruent Enterprise is our top pick for large construction projects because it provides accurate cost and schedule management. The platform features advanced cost management and integrated scheduling. This precision boosts project deliverability and cost efficiency consistently.

Contruent also brings visibility into every project phase, from estimates to successful completion. This transparency ensures proactive change management and strict compliance, fostering better project control. Last, its scalability allows it to be tailored to individual projects while maintaining a macro view at the portfolio level.

Best for Large Construction Projects:
Contruent Enterprise

Contruent Enterprise: Contruent Enterprise Design
Contruent Enterprise: Cost Management
Contruent Enterprise: Contracts
Contruent Enterprise: Performance Dashboard
Contruent Enterprise: Pay Orders
Contruent Enterprise: Purchase Orders
Contruent Enterprise: Engineering Documents
Contruent Enterprise: Estimating with Building Information Modeling
Contruent Enterprise: Cost Management Performance
What We Like
Has detailed analytics and reporting
Advanced resource management
What We Don’t Like
Pricing not provided by the developer
Complex setup for advanced features
Overview
Client OS: Web
Deployment: Cloud or On-Premises

Methodology to Choose the Best Project Cost Management Software

We’ve devised a clear methodology to recommend top project cost management software:

Key Features:

The first aspect we consider includes the core features of project cost management software:

  • Cost Estimation: Flexibility in cost structure (fixed, variable, mixed costs) and support for various estimation techniques (analogous, parametric, bottom-up)
  • Budgeting Capabilities: Option to set up budgets by project phase, task, or overall project; alerts and notifications for budget deviations
  • Expense Tracking: Real-time monitoring of actual expenses vs. budget; reporting and visualization of expenses
  • Forecasting: Predictive analytics to anticipate future costs; scenario analysis capabilities
  • Reporting and analytics: Pre-built templates for financial reporting; dashboards and visualization tools
  • Risk management: Tools to identify potential financial risks; mitigation strategies and tracking

Pricing:

Pricing factors influencing our rankings include:

  • Number of Users and Projects: Some software may charge per user or per project; others may offer a flat rate for unlimited users and projects
  • Licensing Model: Subscription-based, perpetual license, freemium, etc.
  • Trial Options: Availability and duration of free trials or demo versions
  • Scalability: Cost implications as project size or user number increases

Integrations and Customization

To round off our methodology, we prioritize project cost management software with a high degree of configurability:

  • Accounting Software: Integration with popular tools like QuickBooks, Xero, etc.
  • Project Management Tools: Compatibility with tools like Trello, JIRA, Asana, etc.
  • ERP Systems: If it’s meant for larger organizations, compatibility with SAP, Oracle, etc.
  • API and Custom Integrations: Availability of API for bespoke integrations.

What is Project Cost Management Software?

Project cost management software assists in estimating, tracking, and controlling related expenses. Primarily utilized in sectors like construction, engineering, and manufacturing, its aim is to ensure projects stay within budget using precise estimation and time management features. This software first estimates project costs, then leverages job cost controls and on-field data collection to adhere to the set budget.

While job costing software focuses on specific project finances, project cost management software offers a comprehensive analysis for precise estimates. Key features include budgeting, cost tracking, resource allocation, real-time teamwork, and advanced reporting tools.

Who Uses Project Cost Management Software?

Different sectors use cost management tools to navigate the unique challenges and intricacies of their operations. Here’s how:

  • Marketing Agencies: Juggling multiple campaigns and initiatives, these agencies use the software for task coordination, performance metrics, and resource distribution.
  • Education: Educational institutions often manage programs with complex resource and budget needs. Cost management tools ensure they’re completed on time and within allocated funds.
  • Construction: Construction firms rely on the software to monitor budgets, track work progress, and anticipate potential hurdles.
  • Engineering: Similar to construction, engineering projects have many stakeholders. The software aids in budget, timeline, and resource management while tracking progress and identifying challenges.
  • Manufacturing: Manufacturers use the software to optimize resource allocation, minimize waste, oversee budgets, and forecast costs.

What Are the Five Features Offered by a Good Project Management Software?

A good project management software provides these five critical features:

  • Task Management: Allows users to create, assign, and track tasks or activities. It often includes setting priorities, deadlines, and task dependencies to ensure projects progress in a systematic manner.
  • Collaboration Tools: Enables team members to communicate and collaborate in real-time within the platform. This may include chat functions, file sharing, comment threads, and collaborative document editing.
  • Timeline & Gantt Charts: Provides a visual representation of the project schedule, showing task durations, dependencies, and milestones. Gantt charts help in assessing the project’s progress and adjusting timelines as needed.
  • Resource Allocation & Management: Helps in assigning and tracking resources, human (team members) or non-human (equipment, tools, or budget). It ensures optimal utilization and avoids resource overloading.
  • Reporting & Analytics: Offers insights into project performance through various metrics, charts, and reports. It enables managers to identify bottlenecks, assess team productivity, and make informed decisions.

What Are the Benefits of Using Project Cost Management Software?

Using project cost management software offers these advantages:

  • Budget Adherence: Helps organizations to stay within the allocated budget by providing real-time insights into expenditures and forecasting potential overruns.
  • Efficient Resource Allocation: Enables optimal utilization of resources by aligning expenses with project objectives, ensuring that funds are directed towards the most critical areas.
  • Forecasting Accuracy: Uses historical data and predictive analytics to provide more accurate cost estimations for future projects, improving budgeting accuracy.
  • Reduced Financial Risks: Helps in identifying potential financial pitfalls in advance, allowing for proactive measures to mitigate risks.

How Much Does Project Management Software Cost?

The pricing spectrum for project cost management software ranges from a one-time fee of $350 to $35,000 or a monthly fee ranging from $0 to $500.

Project cost management software pricing varies based on user size and payment structure. For 1-10 users, there’s a one-time fee of $350-$1,500 or a monthly subscription of $0-$40. For 10-100 users, the one-time fee is $1,300-$14,000, with a monthly rate of $30-$250. Groups over 100 users face a one-time fee of $2,500-$35,000 or a monthly rate of $50-$500.

In essence, as user numbers increase, so does the cost, with both one-time and monthly payment options available.

All Products

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Monday.com Screenshot

Monday.com

★★★★★
★★★★★
(5)
Monday.com is a task and project management platform known for its ease of use and comprehensive feature set. It stands out for its intuitive user interface, which simplifies task management and workflow creation. The platform also offers a wide range of integrations with other apps, enhancing its functionality.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$8/user/month
Client OS
Web
Deployment
Cloud Hosted
Smartsheet Screenshot

Smartsheet

★★★★★
★★★★★
(1)
Smartsheet is a cloud-based project and portfolio management tool known for its spreadsheet-like interface, offering a familiar environment for users. It provides customizable sheets with formulas and widgets, efficient workflow automation, and real-time reporting for enhanced visibility. Smartsheet’s performance dashboards track various aspects of project management, like financials and KPIs, in real-time, offering valuable insights for decision-making.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$7/month
Client OS
Web
Deployment
Cloud Hosted
Project Insight Screenshot

Project Insight

★★★★★
★★★★★
(1)
Project Insight is award-winning work & project management software that centralizes all of your work, tasks, and projects into one easy to use online platform. We offer a completely FREE expandable version or a full-featured enterprise edition. MAKE YOUR LIFE EASIER Project Insight’s out of the box integrations, REST API, and automation capabilities allow you to manage ALL of your projects, portfolios, and work systems in one place! Project Insight aggregates work from your CRM, Finance,
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
iOS, Android, Web
Deployment
Cloud or On-Premises
Wrike Screenshot

Wrike

★★★★★
★★★★★
(4)
Wrike is a versatile project management software known for its user-friendly interface and a wide range of integrations, enhancing its functionality. It is designed to streamline workflows, automate tasks, and optimize resource management across various industries. Key features include task dependencies, mobile app support, dashboards, and automated alerts. Wrike’s customizable features enable teams to adapt the tool to their specific needs and processes.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$9.80/user/month
Client OS
Web
Deployment
Cloud Hosted
Genius Project Screenshot

Genius Project

★★★★★
★★★★★
(3)
Genius Project is an enterprise project management software with built-in reporting and security features. This solution includes shared documents, flexible templates, and an easy-to-use dashboard for streamlined project tracking. Designed to adapt to your organization’s business processes, Genius Project delivers a highly flexible and configurable portfolio and project management software allowing tailored feature sets for a wide array of project teams and project types. @youtube Project
Client OS
Web
Deployment
Cloud Hosted
Contruent Enterprise Screenshot

Contruent Enterprise

★★★★★
★★★★★
(3)
Contruent Enterprise is a comprehensive solution that provides robust project management capabilities. Established in 1977 under the name ARES PRISM, the software is particularly notable for its powerful analytics and reporting tools, which provide insights into project status, resource allocation, and financial performance. It supports various industries with complex project needs, offering functionalities that streamline project management processes, improve project outcomes, and enhance cost control.
Client OS
Web
Deployment
Cloud or On-Premises
mpower Screenshot

mpower

★★★★★
★★★★★
(3)
mpower is a project cost control software for construction and engineering industries. As a cost control and management solution, mpower makes it easy estimate labor, equipment, and material costs for jobs. An easy to use budget dashboard lets you track project costs from start to finish. Fully scalable, modular project management software for better project and performance management. @youtube Budget dashboard; Cost estimating and value management; Invoicing; Scheduling; Labor, equipment, and
Client OS
Web
Deployment
Cloud or On-Premises
Asana Screenshot
Asana is a work management system that helps teams organize, track, and collaborate on projects. It includes project dashboards, task assignments, reporting tools, and calendar features to enhance productivity and prioritize company goals. Asana is a web-based system with native iOS and Android apps that allows users to collaborate and work from anywhere.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$10.99/user/month
Client OS
Web
Deployment
Cloud Hosted
EcoSys Screenshot

EcoSys

EcoSys by Hexagon PPM is an enterprise project management system. This software is capable of generating project estimates, calculating forecasts and automated scheduling. Detailed estimating and budgeting; Project forecasting; Change management; Risk and issue management; and Performance management.
Client OS
Web
Deployment
Cloud Hosted
aPriori Screenshot

aPriori

★★★★★
★★★★★
(2)
aPriori is a digital manufacturing simulation software used in the manufacturing industry. It can evaluate costs for both CAD models and physical parts, offering user-guided costing function modules that are highly customizable. Additionally, its bulk costing function supports efficient batch part costing analysis. aPriori integrates with CAD tools, enhancing the design-to-cost process.
Mavenlink Screenshot

Mavenlink

★★★★★
★★★★★
(3)
Mavenlink delivers cloud-based software and services that transform how businesses do work with distributed teams, contractors, and clients. Mavenlink enables organizations of any size to successfully manage and scale their people, projects, and profits. Consulting firms, creative agencies, and professional services teams across the globe are running their businesses more efficiently and more elegantly with Mavenlink. Project management; Project accounting; Resource management; Business
Starting Price
$19/user/month
Deployment
Cloud Hosted
Oracle Primavera P6 Screenshot

Oracle Primavera P6

★★★★★
★★★★★
(1)
Oracle’s Primavera is focused exclusively on helping project-intensive businesses manage their entire project portfolio lifecycle, including projects of all sizes. It is estimated that projects totaling more than $6 trillion in value have been managed with Primavera products. Companies turn to Primavera project portfolio management solutions to help them make better portfolio management decisions, evaluate the risks and rewards associated with projects, and determine whether there are sufficient
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$2,750/user (perpetual license)
Client OS
Windows
Deployment
On-Premises
Deltek Enterprise Project Management (EPM) Screenshot

Deltek Enterprise Project Management (EPM)

Deltek EPM is an integrated suite of project management software applications for Government Contractors and Agencies that require a compliant solution for ANSI 748 requirements, program controls and earned value management (EVM). Deltek’s Enterprise Project Management software suite easily integrates cost, scheduling and resource information empowering your program team with reliable program status and earned value reports they can trust. Deltek EPM helps your team to better manage your
Scoro Screenshot

Scoro

★★★★★
★★★★★
(2)
Scoro is a business management software. It offers task and resource management, Gantt charts, scheduling, workflow automation, team collaboration, and document management. The platform also supports email integration, mobile access, timesheet tracking, and budget and expense management. Scoro provides professional services automation features like quotes/estimates, invoicing, and project and financial reporting.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$26/user/month
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Job Manager Screenshot

Job Manager

★★★★★
★★★★★
(1)
This is a complete Project Costing solution. “Job Manager” is a powerful and easy to use Activity Based Costing Granule that provides an easy way to manage resources; track the status of production jobs; monitor dates, activity cost and material requirements; and subcontractor activities within a single integrated system. Increase Revenue with shorter lead times and reliable promise dates that allow for better deliveries and customer service.; Cut Costs by significantly reducing inventories,
Client OS
Windows
Deployment
On-Premises
e-Job Costing Screenshot

e-Job Costing

If you want to stay profitable into today’s ultra competitive world, you need to ask yourself these questions for every job you take on: How are you doing? Is the Job profitable or not? Are you ahead of the game, or running up unrecoverable Job Costs? The work in progress figures look substantial—but do they represent real money? Epiphany’s e-Job Costing can help you answer all of these questions. Epiphany’s e-Job Costing enables project based businesses to quickly and easily track revenue,
Client OS
Web
Deployment
Cloud Hosted
Costimator JS Screenshot
Costimator is a job costing software for the manufacturing sector featuring pre-loaded, industry-validated cost models. It offers key features like the ability to estimate with or without a 3D CAD model, automated amortizing setup for multiple quantities, and real-time updates and quick retrieval of cost estimate data. The software also supports the automatic generation of formal quotes and management reports and integrates with various ERP and MRP systems.
Client OS
Windows
SAP Business One Screenshot

SAP Business One

★★★★★
★★★★★
(12)
SAP Business One provides comprehensive business management capabilities for small and medium-sized companies. This system provides integrated departmental support for finance, sales, supply chain management, production, project management, and production processes. This software can be deployed on-premise or on the cloud, and accessed from any mobile device through iOS and Android apps. The SAP API Business Hub allows for a wide range of partner integrations.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$410/user/year
Client OS
Windows
Deployment
Cloud or On-Premises
My Field Manager Screenshot

My Field Manager

MyFieldManager is a project management system that was designed to tackle real everyday problems that home flipping and renovation subcontractors run into. It is a simple, yet effective program that is affordable for small and large businesses alike. MyFieldManager was designed to help subcontractors get control of their production operations and quickly identify inefficiencies that lead to profit loss. Storage of work and change orders with easy access.; Real-time project updates from the
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$39.95/month
Client OS
Web
Deployment
Cloud Hosted
Cleopatra Enterprise Screenshot

Cleopatra Enterprise

★★★★★
★★★★★
(2)
Cleopatra Enterprise is a comprehensive cost estimating and management solution suitable for construction organizations of all sizes across various industries, including oil and gas, pharmaceutical, and automotive. It integrates cost estimating, management, and project analytics into a single tool, allowing for efficient tracking of enterprise-level project life cycles. It stands out for its ability to draw on historical data for predictions, break down projects into phases, and offer capabilities like breakdown structures and cost models.

We searched and searched, but we couldn’t find any products in our database that match your criteria. Perhaps our team of software experts can help? They’d be happy to provide a list of free recommendations that meet your exact requirements.

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