As project manager you need to manage the people and assets that will be used for the duration of your project. Unless you've "done it all before", then one of the very first things you'll have to consider is which Project Management software to use - or if you need it at all! There are literally thousands of software solutions for project management, and here are some ways of breaking down the options to see what it is you - and your project - really needs.

Using MS Office as your project tool

The advancements (especially arrivals with the 2010 versions) in Microsoft office means that you may only need to use the basic package - Word, Excel, Outlook and PowerPoint, for example, to run and manage your project. Outlook has quite an advanced calendar and meeting suite of tools that you can send memos (attached to Word, perhaps) with, arrange team meetings and flag up deadlines. PowerPoint can be used during the meetings to get your point across and update your team on progress. You can use Excel to manage your budget and to keep track of other small databases - for example, a contact list for your staff. Even the more advanced suites of office including Access and FrontPage can be implemented. If everyone is using Office, then you can share and distribute information easily among your staff.

Using Open Source or Free software

If your project is small scale or has a budget that won't be able to afford a business Office license for many staff, then you can consider going online to get free ("open source") software. This usually requires a donation or a registration to use it, but the costs are minimal. The pros are, of course, that it's free - the cons are that it may or may not be stable (a lot of these kinds of software are done by home developers, and they rely on other people to use and improve it), and also if you're sharing with other people outside the workplace, they too have to have the software. If you're just keeping it internally and small scale, this could still be an option for you.

The big one - Microsoft Project 2003, 2007 or 2010

Many businesses that need dedicated project management software will rely on Project. The main reason is its compatibility with other parts of Office that is also widely used. Therefore you can export information from project to Excel and send that to a client, rather than forcing them to buy Project. Because the software is dedicated, it can use the best parts of other software (budget managing out of Excel, memos out of World,) while flagging up problems and the age-old issue of "time vs. money". If your day job is project manager (rather than only being called upon to do the odd project if and when your role requires), then you might persuade your company to invest in a dedicated piece of software such as Project. There are others on the market in the same price range - but it's the compatibility issue that will probably make Project the obvious choice for sharing information.

Whatever you decide - remember that the software is only as good as the project manager overseeing it. It can improve and streamline your data, but it won't make you a glorious project manager - that's for you to achieve, and you alone.