Microsoft Project 2016 Microsoft Project 2016 is a Microsoft based project management software that is used to assist project managers in carrying out their duties. It allows them to develop plans, allocating the resources to project tasks, progress tracking, budget management and reviewing your workloads. Some years after its introduction it become the leading project management software. It is a part of the Microsoft Office family but has never been included in the Office suite. It is available separately in to editions, the standard and the professional using a file format of .mpp. Project 2016 can be used to create budgets based on assignment work and resource rates. As the resources are assigned and the work is estimated, the software can calculate the costs and estimated completion time. Resources can also be tracked and shared between different projects quite easily.