It looks like there is a ton of options out there, but I haven’t been able to narrow down on one that actually gives me most of the features and functionality that I really want.

Here are some of the open source alternatives out there:
a. Codendi
b. Redmine
c. Project HQ
d. Trac
e. Collabtive
f. eGroupWare
g. KForge
h. OpenGoo
i. ProjectPier
j. ClockingIT

The features I really care about are:
1. Version Control (Versioning): I want to build on something that can properly handle version control very well. I will be working on a areas that have some strict compliance requirements.

2. Document Management: I want an engine that can handle more than the basic ‘attachment’ concepts.

3. Report Generation: The heart of project management is generating reports; so this feature is very important.

4. Alerts and Reminders: The engine should have an excellent event based model that allows me to generate as many reminders and alerts as possible

5. Scheduling (Calendaring): I should be able to do both the old way (water fall); i.e the calendar way of project management, the collaborative management, reportive management, and the new social project management types of scheduling.

6. Access Control: Should give me permissions at the simplest levels

7. Logging: Very important; it should basically record everything.

8. Collaborative: The engine should allow me to use all the collaborative tools available like email, chat, social networks etc

If you have any insights to any of the open source alternatives I mentioned or any other that I need to take a look at, please let me know about them.

Gracias!