I'm always a fan of using the right tool for the right context. At a minimum, I'd use MS Excel, but would prefer to combine that with the planning, tracking & control of a true scheduling tool such as MS Project. However, when dealing with large portfolios and well established PM processes, a true enterprise PM solution is often required.
I have been using Primavera for sometime now and It Integrates Scope, Cost and Schedule at one place, keeps information available at all times providing great visibility, managing resources is easy, tracking progress is easy and also allows quick forecasting. Saving Changes...