Project Online Offers Full Portfolio and Project Management Tools on the Web
Project Online is a collaboration tool that can be used to save, view and edit project schedules, enter your timesheets, report your project status and report across your portfolio of projects — all with the benefit of SharePoint.

As an integral part of Office 365, the cloud-based Microsoft Office solution, Project Online provides almost all project and portfolio management functions via your browser
It enables organizations to get started, prioritize project portfolio investments and deliver the intended business value – from virtually anywhere on nearly any device.
You can get started quickly with this flexible online solution for project portfolio management (PPM) and everyday work. It includes full desktop management capabilities as a subscription.
Microsoft Project Online (Services) and its Target Audience
Project Online, Project Lite:
Team members, project participants, business decision makers
Project Pro for Office 365:
Project managers, resource managers
Project Online with Project Pro for Office 365:
For project managers, resource managers, PMO, business decision makers