At Cybrilla, we use Redmine project management tool for almost all of our projects. Redmine is an open source project management tool which provides great out of the box features such as issue tracking, time tracking, role based access control, multiple projects support etc.
We have found redmine to be a solid product which fullfills most of our project management needs. Once of the great features is that redmine supports a lot of plugins which will aide you incase you opt for redmine.
1. redmine issue sla plugin : this plugin allows to assign SLA by issue priority to a project . All you need to do is set a SLA for each of your issue priorities ( number of hrs ) and it`ll automatically tell the response time when the issue should expire as per the set SLA
2. redmine contracts with time tracking : Another great plugin, it helps manage time and money being spent on a particular contract. This solves on of the major issues involved in project management that of managing project cost. This plugin tells you exactly where the money is being burned, under which issue/ category etc.
One needs to create a new contract using the plugin and enter the start and end dates and the hourly rate. The plugin takes care of the rest and all you need to do is monitor the costs.
3. redmine monitoring and controlling : this is a chart tool to monitor your project in redmine. It provides very informative charts and graphs for task management, time management and resource management. One downside is that it does not provide filters for generating the charts. ( am in the process of adding one 😉 )
Some useful links :