Management consulting firms often struggle to scale their organizations while preserving profitability. Fulfilling larger projects and managing multiple projects simultaneously takes a savvy team, smooth processes, and reliable project managers.
Even with those things in place, it can still be difficult to plan projects with all the right resources, complete them on time, balance workload across your team, and prevent projects from exceeding the scope.
There are several types of software that can help management consulting firms gain efficiency. Project management software is possibly the most essential tool for any rapidly growing consultancy. Project management tools let you:
- Streamline the project planning process
- Improve timeline and budget management
- Better manage priorities across all team members and projects
- Increase collaboration across the team
- Centralize project communications and information
Ultimately, project management software increases efficiency, creates more productive teams, ensures projects are completed on time and within budget and boosts [#section-one]profitability.[#section-one]
Top 10 Project Management Tools for Management Consulting Firms
G2 software review platform lists more than 400 project management tools. On the surface, it may seem like they all have similar feature sets and any of them will do. It’s true that there are some core requirements they must offer to be classified as project management software. However, when you really dig into the functionality, you’ll find a wide variance of features.
Business consulting projects are more complex in nature, often requiring specialized skill sets for various stages of a project. So management consulting firms really need project management software that includes resource management and planning capabilities. This functionality makes it much easier to assign the right people to the right projects at the right time, which ensures firms maximize their billable hours.
We’ve put together a short list of our 10 favorite project management tools that are well-suited for management consulting firms.
- Mosaic
- Accelo
- Hive
- Microsoft Project
- PSOhub
- Workzone
- Kantata (formerly Mavenlink)
- Asana
- Wrike
- Planview Clarizen
Below, you’ll find a summary of each tool’s capabilities, along with pricing info. We’ll start with our personal favorite: Mosaic.
1. Mosaic
Mosaic provides AI-powered project and resource management software that empowers consultants to build more productive and profitable organizations. It aligns teams, projects, and goals by providing the most efficient and intelligent approach to project and resource planning. Mosaic is guaranteed to increase billable time by at least 3%, which has a direct impact on profitability.
Mosaic is designed for consulting firms with 10 or more team members.
Mosaic Features
- Project management
- Resource allocation
- Workload forecasting
- Demand and capacity analysis
- Profit and loss analysis
- Budget and time tracking
- Performance dashboards
- Integrations with financial and ERP systems
Why Management Consultants Choose Mosaic
Consulting firms turn to Mosaic so they can:
- Efficiently plan projects and allocate resources at scale
- Improve productivity and efficiency
- Increase utilization and billable time
- Forecast workload and headcount
- Easily manage costs and budget
- Maximize firm profitability
- Gain visibility across the entire organization
- Reduce burnout by eliminating over-scheduling and minimizing overtime
- Understand demand so they know if, when, and who they need to hire
- Enable collaboration across the entire firm
- Purpose-built for project-based, time-billing teams (CEO and founder ran multiple, successful consulting firms)
Mosaic Pricing
Mosaic’s pricing is straightforward and affordable. It offers three different annual subscription plans and a risk-free trial.
- Team Plan: $9.99 per user per month, billed annually
- Business Plan: $14.99 per user per month, billed annually
- Enterprise: Customized pricing for 100+ team members
Schedule a free demo of Mosaic here.
2. Accelo
Accelo is a cloud-based client work management platform that’s built specifically for professional services firms. Consulting groups use it to manage client work and improve business performance. Accelo offers several products in addition to its project management tool, including sales, ticketing, billing, and reporting software.
Accelo Features
- Project planning
- Budgeting
- Time and expense tracking
- Task automation
- Scheduling
- Project dashboards
Accelo Pricing
Accelo offers two paid subscription plans for each of its products, along with a free trial. Both plans require a minimum of 5 users.
- Plus: $24 per product per user per month, billed annually
- Premium: $39 per product per user per month, billed annually
Learn more on Accelo’s website.
3. Hive
Hive is an easy-to-use project management tool that’s heavily influenced by product users via feedback on the product forum. The platform connects all aspects of work to deliver a productivity platform that aligns with how teams work on a day-to-day basis.
Hive Features
- Project and task management
- To-do lists
- Intake forms
- Time tracking
- Task automation
- Proofing and approvals
- In-app messenger and email
Hive Pricing
Hive offers a free plan, plus two paid subscription plans. You can try the Teams plan for free with a 14-day trial.
- Solo: Free forever
- Teams: $12 per user per month, when billed annually
- Enterprise: Customized
Learn more on Hive’s website.
4. Microsoft Project
Microsoft Project is a simple but powerful project management tool that can be used for both small projects and large initiatives. Project managers use it to develop schedules, assign resources to tasks, track progress, manage budgets, and analyze workloads.
Microsoft Project Features
- Project planning
- Task management
- Scheduling
- Resource allocation
- Team collaboration
- Power BI dashboards
- Workflow automation
- Desktop and mobile customizations
Microsoft Project Pricing
Microsoft Project is available in both cloud-based and on-premise solutions. Microsoft offers three different tiers for cloud-based subscriptions, with a 30-day free trial for the Essentials and Professional tiers.
- Project Online Essentials: $10 per user per month
- Project Online Professional: $30 per user per month
- Project Online Premium: $55 per user per month
Learn more on the Microsoft Project website.
5. PSOhub
PSUhub is a project management software that connects directly with leading CRMs to help connect companies' sales and service processes. It’s ideal for small businesses that need an all-in-one solution.
PSOhub Features
- Project and task management
- Resource management
- Time and expense tracking
- Contract management
- Quotes
- Invoicing
PSOhub Pricing
PSOhub offers four paid subscription plans with monthly and annual billing options. You can try any of their plans for a 30-day free trial.
- Base: $8.50 per user per month, billed annually
- Starter: $12.50 per user per month, billed annually
- Rise: $16.50 per user per month, billed annually
- Growth: $20.50 per user per month, billed annually
Learn more on PSOhub’s website
6. Workzone
Workzone offers an easy-to-use project management tool that’s known for outstanding training and support. It strikes a nice balance between simplicity and sophistication and is well-suited for most teams.
Workzone Features
- Project management
- To-do lists
- Time tracking
- Resource management
- Team collaboration
- Workload reporting
- Commenting and approvals
Workzone Pricing
Workzone offers three paid subscription plans, but their pricing is a little confusing. They offer volume discounts the more users you have. The prices below are based on a minimum of 15 users. Prices may be higher if you have fewer than 15 users.
- Team: $24 per user per month, billed annually
- Professional: $34 per user per month, billed annually
- Enterprise: $43 per user per month, billed annually
Learn more on Workzone’s website.
7. Kantata (formerly Mavenlink)
Kantata (formerly Mavenlink and Kimble) delivers a full suite of products tailored to the needs of professional services firms. Its project management platform keeps consulting projects on track and allows firms to optimize project processes for better results.
Kantata Features
- Project planning
- Task automation
- Time tracking
- Resource management
- Budget tracking
- Team collaboration
- Forecasting
- Client-facing interface
Kantata Pricing
Kantata does not make pricing publicly available. It appears that pricing is based on company size, industry, functionality, and possibly location.
Learn more on Kantata’s website.
8. Asana
Asana is a project management platform that teams use to organize projects, tasks, and timelines. It has a wide range of applications, from simple task management to organizing complex strategic initiatives. Asana is adaptable for many industries, including service-based businesses.
Asana Features
- Project dashboards
- Project and task management
- Project collaboration
- Project request forms
- Workload analysis
- Workflows and task automation
- Integrates with Mosaic’s resource management software
Asana Pricing
Asana offers a free plan, plus three paid plans.
- Premium: $10.99 per user per month, billed annually
- Business: $24.99 per user per month, billed annually
- Enterprise: Customized
Learn more and Asana’s website.
9. Wrike
Wrike is an all-in-one project management platform that can be customized to meet the needs of any team, function, or department. It’s designed to help remote, hybrid, and dispersed teams get more done together.
Wrike Features
- Project planning
- To-do lists
- Custom request forms
- Visual proofing
- Digital publishing
- Shared team calendars
- Time tracking
- Invoicing software
Wrike Pricing
Wrike offers a free plan and three paid subscription plans. You can get a 14-day free trial of any plan, including Enterprise.
- Professional: $9.80 per user per month
- Business: $24.80 per user per month
- Enterprise: Customized
Learn more on Wrike’s website.
10. Planview Clarizen
Planview Clarizen is an enterprise project and portfolio management software. It combines project management, workflow automation, and collaboration to turn ideas into strategies, plans, and actions. Organizations use it to gain real-time visibility into their workstreams so they can deliver results faster.
Clarizen Features
- Project management
- Resource management
- Time and budget tracking
- Task automation
- Productivity reports
- Team collaboration
- Proofing & approvals
- Financial management
Clarizen Pricing
Clarizen does not make pricing publicly available. You can get a 30-day free trial of Planview products, but you’ll need to talk to sales to find out how much subscriptions cost.
[#section-two]Learn more on Planview Clarizen’s website.[#section-two]
Selecting the Best Project Management Tool for Consultants
We recommend doing a needs analysis before you choose a project management tool for your management consulting firm. Document your current processes to identify your biggest challenges, and look for a tool that will best address those issues.
For instance, if key members of your team are struggling with burnout while others seem to have extra time on their hands, you’ll want to look for a project management tool that includes demand and capacity analysis.
There are a few other requirements worth considering:
- Flexibility: Choose a tool that your firm can adapt to your current processes.
- Usability: Make sure it’s easy to use and has an intuitive interface.
- Specificity: Look for a platform that’s purpose-built for project-based, time-billing teams. It always helps when the leadership has experience relevant to your industry.
- Integrations: Be sure it integrates with other core systems, like your accounting software and email client.
- Training and support: Strong training resources and live support will help you get up and running so your firm can quickly see an ROI.
Once you choose your consultancy’s project management software, take the time to develop an implementation plan. [#section-three]This article shares eight tips for successfully implementing new software.[#section-three]
The ROI of Project Management Software
The bigger your consultancy, the more you’ll benefit from implementing the right project management tool. For example, if you choose Mosaic’s project and resource management software and your firm has a team of 100 people, you’ll save an average of 4,000 hours per year and earn an additional $1.2 million.
See for yourself. Use this simple ROI calculator to figure out exactly how much your consulting firm stands to gain by switching to Mosaic. Or you can book a demo here.
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