For those that are not familiar with Team Concert, this is the coolest thing since sliced bread. It is THE tool for software development project planning, management, source code management and more. Here is a general overview of the features. In our organization we use the RTC ExpressC version for our clients. This is a small team version that is free and includes 3 free client access licenses - perfect for our small team.
If you do not currently use version control (a.k.a. source code management- SCM), this is an ideal product to start with. Yes, there is Subversion, which is a good open source product, but it does NOT do all the features that Team Concert does. SCM is only a part of Team Concert's features.
UPDATE MAY 2016: This is a bit of an old article, but RTC 6.0.2 is was released this month by IBM. Visit our CLM page for details, or call us for product pricing, or implementation services.