The dimensional growth and increasing difficulty in project management promoted the development of different tools that serve to facilitate project management and track project schedule, resources and overall progress. These tools offer a variety of features, from task and time management, up to integrated CRM (Customer Relationship Management) and ERP (Enterprise Resource Planning) modules. Currently, a large number of project management software is available, to assist project team during the entire project lifecycle. We present the main differences between open source and proprietary project management tools and how those could be important for SMEs, describing the key features and how those can assist the project manager and the development team. In this paper, we analyse four open-source project management tools: OpenProject, ProjectLibre, Redmine, LibrePlan and four proprietary tools: Bitrix24, JIRA, Microsoft Project and Asana.