Microsoft Office Project Standard 2007 provides a robust project management solution with a powerful combination of usability, power, and flexibility, allowing you to manage projects more efficiently and effectively. You can stay informed and control project work, schedules, and finances, keep project teams aligned, and be more productive through integration with familiar Microsoft Office system programs, extensive reporting, guided planning, and flexible tools.

The Microsoft Office Enterprise Project Management (EPM) Solution streamlines the management and prioritization of projects and resources across your organization. The EPM Solution includes Microsoft Office Project Professional 2007, Microsoft Office Project Server 2007, and Microsoft Office Project Web Access. New features of Powerful features of Microsoft Office Enterprise Project Management include:

• Manage Multiple Sub-projects as a Single Object. Project Professional enables you to easily manage multiple sub-projects as a single object. This means you can now generate key performance indicators (KPIs) and analysis across multiple sub-projects.
• Import Project Task Lists from Microsoft Windows SharePoint Services 3.0. When you want to capture a project idea, you can use Windows SharePoint Services 3.0 to begin creating a project task list. You can later import your project task list into Project Web Access, or convert it into a complete project plan.
• Create and Manage Project Proposals. Project Web Access now includes proposals, which enables you to initiate a new project on the Web. Proposals will provide better high-level analysis and will enable you to apply your business processes to track potential projects and evaluate best-case and worst-case scenarios prior to approval.
• Plan for Activities that Follow the Completion of a Project. Project Web Access supports activity plans, which help you to manage the activities that often follow the completion of a project.
• Identify Specific Owners for Each Task Assignment. By identifying Assignment Owners, individuals other than the assigned resource can provide status updates on a work or material resource's assignment.
• Track Your Project's Budget. Budget tracking permits Project to support the method with which many organizations allocate their budgets to specify the amount of resources and money that each project or program should use.
• Undo and Redo Multiple Changes. Reverse the most recent series of changes by undoing changes to views, data, and options with Multiple Level Undo. With this functionality, you can also undo actions or sets of actions from macros or third-party applications.
• Assign Cost Resources Across Multiple Tasks and Projects. Cost resources allow you to more accurately monitor project financials and synchronize your project with data in your accounting systems. For each task, you can assign multiple arbitrary costs (not based on work time) and use custom fields to specify cost type or financial code.
• Develop High-level Resource Plans. Resource plans provide information about high-level resource allocation when detailed resource assignments do not exist; for example, in proposed and anticipated projects, task-only projects, and for projects where assignments do not accurately reflect resource distribution.
• Assign Work to Entire Teams of Resources. Team resources allow work to be assigned to an entire team rather than an individual resource. Any member of the team can accept the assignment and report time against it.
• Identify Factors Affecting Task Schedule. Tasks drivers show which factors are affecting the start date of a task. Examples of possible drivers are predecessors, constraints, and calendar exceptions. Simply click these drivers to link to relevant information.
• Track Project-related Documents and Information by Using Project Workspace Sites. Integration of Project Server and Windows SharePoint Services 3.0 enables teams to centrally manage and track project-related documents and information.
• Report on Tasks from the Outlook Calendar or Tasks Folder. Team members can view and report progress on tasks right from their Outlook Tasks folder or their Outlook Calendar.
• Track Administrative and Non-project Tasks Using Timesheets. Timesheets provide the basis for this information in Project, but they also extend well beyond the basics to serve as input for financial systems and analyzing progress. Users can report how they spend their time on project and non-project activities by entering their hours against project tasks, summary tasks, or non-project administrative tasks.
• Track Task Status Separate from Actual Work Hours. When tracking task status, team members can report effort on their task assignments separately from their actual work hours.