The software project is a highly people intensive effort that spans over period of time, with the fundamental implications on work and performance of many different teams. The success of a project is heavily relying on timely transfer of information among the parties involved such as project managers, team leaders, developers, designers and clients. In present scenario most of the software companies works on multiple projects simultaneously, therefore there need to be an efficient project management procedure in term of resource allocation and project planning. Web Based Project Collaboration, Monitoring and Management System provides a solution by automating project management functionalities which covers all the aspects of project management process including document management, resource management and team collaboration. The system addresses the functionalities such as assessment of actual progress, team collaboration, update feedback with email and short messages, server login manager, customer portfolio manager, invoices with online payment option and the important aspect is that it provides management reports, which will lead to effective decision making.