A good project management software is far better than managing projects with spreadsheets. It will save you time and stress and our project should run more smoothly, cost less money, and meet schedule more reliably.
Project controls are important. They help you keep track of project costs and schedule. A good project controls system will help the project manage its costs and schedule, preferably part of a project management tool. It should be easy to use and automate as much of project controls as possible.