Project management software is often a key asset in managing a project through the five phases of project management. During the initiation phase, software can aid in determining whether the project is feasible and if the outcome of the project will solve the problems it's intended to. It facilitates collaboration and communication, making it easier to get the project approved. During the planning phase, the software aids in creating a detailed project plan, defining tasks, resources, and timelines.   In the execution phase, project management tools help to track progress and manage resources effectively. During the monitoring and control phase, they assist in implementing an effective change management plan, accommodating changes in the project as needed. In the final closure phase, project management software helps to organize and store project materials in a shared space for future reference. Thus, project management software can significantly enhance the efficiency and success of every project across all life cycle phases.