What is the best project management software, in your opinion? And why?

Through ProWorks & MS Projects we will be properly able to track the projects, schedule the resource, analyse the planned cost with actual and track the timelines.

Primavera P6 is preferable, because it provides the following:

- Unlimited baselines can be created.

- Issues and risks can be recorded.

- Allows to create sub-activities , each sub-act( step ) can have its own start and finish date.

- Expenses can be added to the cost , like travel , training etc. 

P6 due to its capability to do do any type of project and its EPS sysytem

It probably depends on the project, industry, etc. What I would expect almost everyone is using is Microsoft Excel ;)

Then, of course you may have MS Project, Oracle Primavera, Meridian Prolog, SAP Business ByDesign, LiquidPlanner, etc.

primavera & Ms project and it depends on the type of project, the one concern for these data top management ,or  team & other stakeholder.

For linear project like highway, tunnels, Rail project the best software is TILOS,

for other non linear projects the best software is Primavera6.

Primavera, MS Project are the best software recognized globally to be used for Project Planning, Scheduling & Monitoring as these software are user friendly and have wide range as you can assign risks, cost centres, resource to your project to track them periodically. However, SAP is the new emerging software as it keeps the track record of every transactions made during the execution of project regardless of cost or time. 

There are many software avilable for production and planning. But with my opinion M.S. EXCEL is only prefferable software for production and planning. Because it is eazily understable for simply as well as professional people.

depending on the project Type and needed for t he project Management software.

Microsoft Excel, Ms Project , Oracle Primevera, ect.

IMHO, the best software is one that is free. 

The vast majority PM software is used to generate a pretty Gantt chart that get printed and pinned to the wall.  Then, end of story!