Rewriting title tags does not require new content, developer time or budget. On a site that has never had them reviewed, it is reliably the highest return per hour of any SEO work.
Where the wins are
Pages ranking positions four to ten with poor click-through rates. They already have the visibility; they are failing to convert impressions into visits, and the title is the largest single factor in that.
What actually changes performance
Specificity. Project Management Software says nothing that the nine results around it do not. Project Management Software for Agencies Under 20 People tells a particular searcher this is for them — and loses nothing by excluding everyone else, because they were never going to convert.
Measure it properly
Record click-through rate for the affected queries before the change, wait a few weeks, and compare at a comparable position. Rankings may not move at all; clicks should.
Try it: Meta Title Length Checker on SeoWolf's Notepad.