The right choice for online project management is Microsoft Project Server
- Project planning: tasks assignments, resources allocation, progress and cost tracking. The Server version is the natural extension of the Microsoft Project standalone.
- Provides one place to manage all projects, accessible by everyone in the team. This opens the plan updates to team members as well(on their tasks), as opposed to being done only by the project manager.
- Reporting and visualization - resources utilization, timeline etc
- The integration with the Microsoft Project standalone: if you don't like the web version, you can download the latest and work locally. When done just sync it back to the server.
Cons
- In many cases the server or cloud version of any tool will have some limitations compared to the standalone version. It is the same here, however the existing integration between the two will help you work locally and upload changes to the server if you don't feel comfortable working on the web version.
- The learning curve for both Microsoft Project and the server version tends to be steep for some users
- Needs an Outlook integration
- The cost for implementation and licensing needs improvement, it can be very expensive for some smaller companies.