Project Management isn't a new discipline. It's certainly evolved over the period. Without documenting it, our ancestor has been practicing it. The wonders of the world wouldn't have been constructed without sound preparation and delivery practices. Find more details about project risk management via  

The Discipline - Project Management and Benefits of Project Management Software

 It's only in the past century; we began talking and writing about it. Thus we have the plethora of standards & certificates such as PRINCE2, PMP, and guides like Pombo and procedures variants like Waterfall, Agile, and hybrids of the two.

Firms have particular goals like growth, profitability, market penetration or market growth, etc.. The job management practices help organizations to organize manage and fulfill these goals. Basically, it enables companies to arrange required activities and align resources to meet those objectives in a planned way.

Employing PM tools make it much easier to control these activities. Online project management software is a lot more useful than offline ones.

The new generation of PM applications enables project team members to collaborate, communicate, and stay updated of real-time status of tasks important to them. It eliminates the barrier of time and location because users can get such systems from anywhere at any time.

This tool, in its authentic form, goes beyond simple task/to-do list management and empowers managers to make work-breakdown-structure (WBS), create interdependency among tasks, milestones, assess and manage resource utilization/availability, strategic risk management, communicate appropriately with stakeholders.

Unlike heritage PM tools software that has been quite expensive yet exclusively used by project managers for monitoring & tracking purpose, the new generation of project management applications allows the whole team to collaborate with one another and receive a real-time upgrade.