Version 4 for DOS was the final DOS version, released in 1986. Microsoft bought all rights to the software in 1985 and released version 2. The first commercial version of Project was released for DOS in 1984. Boyd wrote the specification and engaged a local Seattle company to develop the prototype. Boyd, Microsoft's Manager of Product Development, introduced the application as an internal tool to help manage the huge number of software projects that were in development at any time inside the company. Bredehoeft formed his own company, Microsoft Application Services (MAS) Consulting while creating Project, and the company later entered an OEM agreement with Microsoft Corporation. The idea originated from the vision of Ron Bredehoeft, a former IBM S/E and PC enthusiast in the early 1980s, as a prank to express the recipe and all preparation for a breakfast of eggs Benedict in project management terms. 'Project' was an MS-DOS software application originally written in C (and some assembly) language for the IBM PC. Microsoft Project and Microsoft Project Server are the cornerstones of the Microsoft Office enterprise project management (EPM) product. Microsoft Project's proprietary file format is. It is available currently as a cloud-based solution with three price levels (Plan 1, Plan 3, or Plan 5): or as a on-premises solution with three editions (Standard, Professional, and Server).

It is part of the Microsoft Office family but has never been included in any of the Office suites. From 2015 to 2020 it was the most popular application for project management according to Project Management Zone. Within a few years after its launch, it became the dominant PC-based project management software.

Microsoft Project was the company's third Microsoft Windows-based application.

It is designed to assist a project manager in developing a schedule, assigning resources to tasks, tracking progress, managing the budget, and analyzing workloads. Microsoft Project is a project management software product, developed and sold by Microsoft.

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