Web-based project management software is an online platform that provides businesses with the tools needed to successfully execute and manage all stages of a project from inception to completion. It enables users to create, organize, and track individual tasks as well as keep a timeline for each task and its associated goals. Its real-time collaborative capabilities allows for efficient communication between team members and stakeholders alike. With this type of system, projects, resources, and budgets can be easily managed all in one convenient place. This makes it an incredibly valuable asset for businesses seeking increased productivity and cost-effectiveness.