Project Planner PE LITE edition Description:

Project Planner PE lite: An Affordable alternative to MS-Project. A Professional Software to Plan, track and manage your projects. It lets you manage your projects and allows your team members to modify their task status online/real time. It also gives you control over the schedule as well as the cost expended on your project. It allows you to view at any point of time the risks which has occurred in your projects and the corresponding contingency plan tried out by you. Using the metrics features built-in, it lets you predict the slippage in terms of cost/schedule your project would experience before it's completion. Project Planner belongs to the Smartworks family of business productivity application suite.

It has most features found in the Project planner - PE version. However it lacks the feature to save your files .PPR format. This prevents you from sharing your project plan using the free project planner reader. However if this particular feature is not important to you , you save 30$ in buying the lighter version.