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Project Management Software

What is a Project Management System or Project Management Software?  Is there a common understanding on functionality of such system and if it is needed at all?  What systems project managers use for projects? Project Management System should be one to help Project Managers to manage Projects. The word " project " originally meant "before an action" or plan of something. Projects are defined by  PMI  as Temporary endeavor (having start and end) to create a unique product, service or result. Project managers are to manage timelines, budget and scope.  PMI   defines 5 process groups (from start to end) and 10 knowledge areas. Project Management Software definition in Wikipedia is vague and open to interpretations: Project management software has the capacity to help plan, organize, and manage resource tools and develop resource estimates. Depending on the sophistication of the software, it can manage estimation and planning, scheduling, cost contro...