As business become increasingly dependent on Information Technology for their operations, project managers find themselves under pressure to remain innovative and go forward to deliver quality projects, on time and within budget constraints. However, some organizations still find it hard to plan and track project components, stakeholders and resources. Additionally, project managers, team members and customers do not communicate frequently to share their expert opinions. Projects tend to extend beyond scheduled deadlines, not necessarily due to lack of resources or incompetence of projects members, but often because of inability to elicit requirements completely and inadequacy of proper communication. To this end, with the advent of Information Technology, there has been an increase in the demand for software that make jobs easier for people, as a result, to keep up with rising demand, project managers need a way to effectively manage their software projects. Using the iterative methodology, a web based software project management system was developed, that fully monitors project progress, allocates tasks, creates milestones and provides an avenue for stakeholders to track project progress during its development phase. The developed system solves the problem of unity and lack of communication. With the system, once added to a new project, all participating members may send messages to one another and keep tabs on the progress of the project so as to implement the stakeholder’s requirements efficiently.