So how much can you expect to pay for a project management solution, and how are you billed for this software?
Essentially, costs will vary from company to company, depending on the depth and breadth of each solution. The good news is that many vendors have a trial period so you (and your team) can test the software for a limited time to evaluate whether the solution is a good fit for your organization. Project management software is paid for in one of the following ways: a monthly or annual subscription, or a one-time cost for locally hosted solutions.
Monthly and Annual Subscriptions
Monthly subscriptions for cloud-based software vary greatly both in price and features. Depending on your company’s size, you can expect to pay different amounts. Many solutions charge a per-month, per-user cost, while others are simply a flat monthly fee. Often, you can get a discount by signing up for an annual subscription.
According to Capterra, small business project management software averages $45 per month, midsize companies can expect to pay around $130 per month, and enterprises can expect an average cost of roughly $200 per month. These figures are averages; your costs, depending on your company size, employees and features, may be lower or higher than these averages.
Annual subscription costs vary depending on how many users you have and gross revenue managed. For some software applications, you can expect to pay $65 per user, per year, while for other software solutions, you can pay upward of $700 per million of gross avenue managed.
There are some software solutions where you pay a one-time fee and then own the software permanently. While the pricing for these types of applications is straightforward, sometimes there are additional service or maintenance fees you pay annually.
Check with the provider prior to buying the software to identify any additional costs. (Do they charge for priority support? Is there an annual maintenance fee?) Installation costs range from $600 to $10,000, according to Capterra, with the average price being $4,600.