Calling it the "most significant" upgrade in a decade, Microsoft Corp. today revealed details for its project management application, Project 2010.

The new version will include tighter integration with Microsoft Outlook e-mail and new collaboration features for buyers of the mid-range Project Professional version.

Project 2010 will also be the latest Microsoft application to adopt the Office "Fluent" user interface, better-known as the controversial "Ribbon."

Finally, Microsoft is cutting the number of versions of Project from four to three, injecting portfolio management capabilities from the short-lived Project Portfolio Server into Project Server 2010.

Microsoft is making the public beta of Project 2010 available later this fall, though it is taking sign-ups today. Final release is due by the first half of next year, about the same time Microsoft Office 2010 is released, according to Chris Capossela, senior vice president of the Microsoft Business Division.

Full story: Computerworld