monday.com Project Management Tool Review 2024 [Pros & Cons]

Read this complete hands-on monday.com review to know what is monday.com, how to use the tool, benefits, features pros and cons, etc.:

Project Management refers to the process of planning, tracking, and managing the project and workflows from the beginning to its end.

This process plays an essential role in the organization as it directly affects the outcome or revenue. The more efficient the project management is, the more revenue it would generate.

A Complete Review – monday.com

Project management undergoes four stages i.e. planning, build-up, implementation, and closeout.

1. Planning: It states how to map out a project. It includes determining the problem to solve, identifying the stakeholders and defining project objectives, determining major tasks, scope & resources.
2. Build-up: This stage states how to get the project going. It includes assembling a team, planning assignments, creating the schedule, holding a kickoff meeting, and developing a budget.
3. Implementation: This stage defines how to execute a project. It includes monitoring & controlling processes & budgets, reporting progress, holding weekly team meetings, and managing problems.
4. Closeout: This is the final stage and tells you how to handle end matters. This includes evaluating project performance, closing the project, and debriefing with the team.

Importance & Need of Project Management for an Organization

• Clear Focus and Objectives: It enables the teams to be focused or refocused at times by providing them tasks to be done in the steps to cover the common objective or the project. The project is divided into certain tasks by the project manager to get it done more efficiently.
• Realistic Project Planning: Project Management enables us to set proper and realistic plans, budgets, and schedules by studying the situation and environment. Thus the team can work under the timeline and produce a standardized product.
• Quality Control: Good project management ensures good quality production of goods and services within the stipulated time. It ensures that the quality of the goods would not be compromised to complete tasks or processes within the time frame.
• Risk Management: Efficient project management needs to identify and manage the related risks. Good project management practices ensure proper analyzing, management, mitigation, and contingency plans for the risks.
• Orderly Process: It is essential that the tasks and processes go in a planned order. Good project management ensures that the task must be completed at the scheduled time by the right person throughout the project life cycle.
• Continuous Oversight: An efficient project requires continuous tracking and reporting. Hence, to track and report the status of a project, we have project management. This ensures timely and quality product generation.
• Strategic Alignment: Project Management ensures that the project falls under the strategic alignment or strategic framework of its client. It means that the project must fulfill the objective or goal of the business. The project must earn revenue along with its successful completion within the stipulated time.

There are various software available in the market for managing projects, processes, and workflows. These are referred to as project management software. Some of them are monday.com, Trello, Jira, Asana, Project Insight, TeamGantt, etc.

What is monday.com

monday.com is a collaboration software that enables its users to work without limits. You can easily create and execute workflows on a single work OS platform. It helps in managing workflows in a single place, can be easily started, integrates with tools and saves time with automation, provides dashboards to visualize the work, and provides 24/7 customer support.

It provides solutions for the marketing & creative department, Sales & CRM department, IT & software department, HR department, and operations.

It provides features for workflows like project Management, Inventory Tracking, and Remote Work. It is best for small to medium businesses and enterprises.

It includes various templates for different purposes. As for marketing, content production, project management, sales & CRM, freelancers, design, software department, HR, manufacturing, operations, startup, education, real estate, venture capital, and construction.

It is a combination of various building blocks like dashboards, integrations, forms, calendar, automation, timeline view, kanban view, notifications, workload, subitems, updates, a map view, guest permissions, time tracking, file sharing, and workspaces.

How to start monday.com

monday.com provides an easy interface for its users to get started. To start with project management you first need to create a board and then choose a template. After that, you need to create groups of tasks, add items and columns. Then all you need to do is turn things green i.e. assign tasks, communicate within the task, update the task, and so on.

For better understanding, you can refer to the video below,

Benefits of Using monday.com

• Easily Accessible and Monitored: It provides easy accessibility to team members or someone (clients or vendors) with whom the manager wants to share the project status. As the performance of the whole team is visible on the board, the manager can easily manage the work.
• Customizable: It allows you to create a digital space for your work with features like ready-made templates, column types, boards, documents, dashboards, and more.
• Collaboration: It enables the whole team to collaborate on a project by accessing the software to share updates, see the performance, comments, and more.
• Customer Service: It provides 24/7 customer support to its users for any issues they face. It also helps its users to utilize their plans to the fullest.
• Reporting and Analytics: It helps in data-driven decision-making by providing insights and reports through dashboards, Gantt charts, and more.
• Integration: It enables the users to integrate their sales and marketing tools in a single place for efficient management.

Features

• Docs: Provides work docs to enable the users to integrate all their work in one place by collaborating with the team members for co-editing, sharing comments, etc. It provides dashboards, videos, etc to connect or sync workflows automatically. It executes the plans into actionable items. Along with the doc, other features provided in the workdocs include board integrations, real-time engine, tagging, live updates, auto-save, checklists, multiple-editors, and easy-to-use editors.

• Integrations: It enables the users to integrate different other tools in one place so that you don’t need to switch to every other tool for different tasks. Here you can integrate tools related to CRM, marketing, Software department, and project management tools. It provides a very simple procedure to connect or to integrate the apps in just one click. Through these features, you can centralize your entire sales pipeline and manage all your marketing needs in one place.

• Automations: Through this feature of automation, the teams can be more efficient in their work. They can schedule messages to send them later at the right time and set alert updates for task completion. They can be more up to date and can save their precious time for more productive work. It allows you to customize the team tasks by providing features like adding location, formula, time tracking, tags, status, and much more.

• Dashboards: It helps in collaborative management by enabling the users to see or check at a glance as to where things are up to with the tools to create custom dashboards. Through the dashboard, you can track the progress of projects, timelines, and budgets or can run reports at a single glance. It smartly collaborates the whole team by syncing the whole team at a single place to work for the same objective. It lets them share files, use tools to prioritize tasks, track status, and much more. You can centralize all your views, workloads, and automation here.

• Kanban: It provides easy-to-use, fully customizable, and scalable Kanban software where you can use templates or can create one, automate grunt work, release quality work faster and stay on top of your work. It displays data in an easy and understandable form for decision-making. It helps in managing the workflow and communication by automating the repetitive tasks, putting all communication updates in one place, tracking iterations and backlogs, and analyzing where the team stands against each milestone.

• Gantt: It enables visual tracking, planning, and execution of projects. It tracks timelines or deadlines so that you can complete your target on time. It allows you to import data from excel and convert them into Gantt charts that look smart. It helps in improving coordination in a team, staying informed from anywhere, focusing on the work that matters, and integrating with your favorite tools.

Suggested Read => Most Popular Gantt Chart Software

Pros and Cons

Pros:

• A variety of ready-made templates make it quick to start a task or project.
• Shows the layout of where the project is, through dashboards or charts.
• Every team member can access the software.
• It facilitates flexibility in the project through various column types and view types including Kanban, Gantt, table, and more.
• Provides a facility for doing multiple tasks simultaneously on the same software through grouping.
• Visually pleasing work through dashboards increases efficiency in the work.
• The automation feature keeps users on track by generating alerts and notifications from time to time.
• It provides an easy-to-follow interface with easy tutorials.
• It facilitates the collaboration of global teams by providing them access to comment, download, or edit the tasks.
• They provide 24/7 customer support to increase the utility of the software so that the user may use it to the fullest.

Cons:

• Absence of features in the Basic plan: Some essential features like integrations and automation are absent in the basic plan as reported by certain users.
• Integration issues: Some essential software integrations like Canvas, ActiveCampaign, etc., are absent.

monday.com Pricing

The pricing of this software is categorized into four plans. Each plan includes different sets of features for a different number of users. It provides unlimited boards and workflows for all plans.

Provides free downloads without the need for a credit card. A discount of 18% is provided for users who opt to pay the bill annually and normal pricing is followed for monthly payers. It also provides a 14-day free trial.

• Individual: Free unlimited. Includes unlimited boards and documents, 200+ templates, 20+ column types, iOS& android supported, and unlimited for up to 2 team members.

• Standard: $10 per user per month. It includes all the features provided in the individual plan, in addition to features like unlimited items & free viewers, customer support, integrations & automation of up to 250 actions, a dashboard of five boards, and much more.

• Pro: $16 per user per month. It includes all the features covered under the standard plan, plus features like automation & integrations of up to 25,000 actions per month, private boards & documents, chart view, formula column, time tracking, dependency column, and a dashboard with 10 boards option.

• Enterprise: Contact for pricing. It includes all the features covered under the Pro plan, in addition to unlimited automation & integration (enterprise-level), enterprise-level security and governance, advanced analytics & reporting, multi-level permissions, tailored onboarding, premium support, and a dashboard with up to 50 boards.

monday.com – Reviews and Ratings

Our Rating – 5/5 stars

G2.com: 4.7/5 stars – 3,034 reviews

Capterra: 4.6/5 stars – 2,418 reviews

TrustRadius: 8.6/10 stars – 1,066 reviews

FinancesOnline: 9.8/10 stars – 24 reviews

Glassdoor: 4.6/5 stars – 172 reviews

Alternatives and Competitors of monday.com

#1) Project Insight

It is a project management software that helps users in managing projects, workflows, and processes in one place by providing automation, REST API, Integrations, and so on.

Along with project management, it helps in organizing your portfolio and generating data insights. It provides features like time tracking, project requests, intelligent scheduling, project templates, issue tracking, approvals, and more.

Website: Project Insight

#2) TeamGantt

It is a project planning software that enables the users to plan and manage projects on Gantt charts. It is used by popular brands including Nike, Netflix, Amazon, etc. It enables fast drag and drop scheduling on charts, keeps teams updated, saves time through time tracking, and much more.

It provides various essential features like drag and drop, team management, easy collaboration, organization, views, reports, time tracking, and so on.

Website: TeamGantt

#3) Trello

Trello enables its users to collaborate and manage projects with their team by using various features to make the business move forward successfully. It provides various boards, lists, and cards to organize tasks.

Its automation feature helps in scheduling assignments, surfacing deadlines, creating custom buttons, and so on. It can integrate with tools like Slack, Dropbox, Google Drive, Confluence, and Evernote.

Website: Trello

#4) Asana

It helps in organizing work through graph data models. It enables the team to get synced and collaborate on a single platform to achieve their common goal.

It provides features like automation, timeline, integration, boards, universal reporting, forms, calendars, portfolios, and so on. It includes solutions for project management, goal management, agile management, task management, project planning, and so on.

Website: Asana

#5) Jira

It is a project management software that helps agile teams in planning, tracking, releasing, and reporting the project or workflow.

You can create automation code the way your team prefers and can integrate with software like Zoom, Slack, Microsoft, Google, and more. It provides features like- Scrum boards, Kanban boards, roadmaps, agile reporting, automation, custom filters, rich APIs, and so on.

Website: Jira

Comparison of monday.com with its Alternatives

Frequently Asked Questions

Q #1) What is the free trial period of monday.com?

Answer: The free trial on monday.com is valid for 14 days wherein the users can use the software freely without any charges to analyze whether the software would serve their purpose or would it be economical for them.

After two weeks they need to renew their plan or should subscribe to the given four plans. Here the basic plan is free of cost for a lifetime but lacks in certain features. In order to use more features, you will need to pay the subscription charges monthly or annually as per your choice.

Q #2) Is monday.com free forever?

Answer: Yes, monday.com offers an individual plan that is free forever for up to 2 seats. Under this plan, you would get unlimited boards and documents, 200+ templates, 20+ column types, and iOS & Android support.

To avail more features and for more seats, you need to upgrade your plan and for that, you need to pay accordingly. Only 1 plan is free i.e., the Individual plan and the others are paid.

Q #3) Is there anything better than monday.com?

Answer: There are various similar software available in the market as monday.com. Every software serves the basic purpose of project management along with different sets of services that make them different from others.

Other similar Project Management software includes:

1. Project Insight
2. TeamGantt
3. Asana
4. Trello
5. Jira

Q #4) What are the drawbacks of monday.com?

Answer: Though it provides many benefits and essential features, monday.com has some drawbacks.

It does not provide essential features like automation, integration, and moreover, in its basic Individual plan, some important software integration is missing like Canva, ActiveCampaign, etc, and some users addressed limited reporting service- it could be better.

Q #5) What are the benefits of monday.com?

Answer: monday.com is good for its project management features that enable its users to manage projects efficiently. It provides features like automation, integration, dashboards, column types, ready-made templates, Kanban, Gantt charts, time tracking, dependency column, and more.

By using these features, the users can coordinate better with their team members and can track the status of their project from time to time. It also facilitates efficient decision-making through data that is provided visually.

Q #6) Is monday.com a CRM tool?

Answer: monday.com is basically a project management software that helps in collaborating with the team for conducting projects online. It also provides customization features through which we can manage lead information for CRM.

Like we can add lead stages in boards as incoming leads, active leads, or lost leads. In this way, it also serves the purpose of customer relationship management.

Conclusion

monday.com project management software is recommended for its highly efficient features to make the project visually appealing to work on. It provides various in-built or ready-made templates to kickstart the process.

The best feature of this software is collaboration. You can plan, create and run several workflows simultaneously on a single platform. They provide 24/7 client support to help them utilize the features provided.

The building blocks they provide are very useful in creating work management tools. These are dashboards, integrations, forms, calendar view, automation, timeline view, kanban view, notifications, workload, subitems, updates, a map view, guest permissions, and so on.