Project Portfolio Management Software

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Quickbase

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monday.com

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Wrike

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Planview PPM Pro

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Saviom Enteprise Project Portfolio Management (EPPM)
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Wrench SmartProject Suite - Digital Project Management Office

Wrench SmartProject Suite - Digital PMO is a project management platform that covers the entire project management process chain. With a range of features such as WBS planning, supplier registration, cost and cash flow management, and quality assurance, users can manage projects…

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Artemis, from Aurea Planning Solutions

Artemis 7, from Aurea Planning Solutions is an end-to-end enterprise system offering real-time portfolio and resource management reporting to empower decision making and collaboration – with panoramic views into portfolio management, financial, and resource management, and program…

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Videos for Project Portfolio Management Software

What is Project Portfolio Management? PM in Under 5
04:47
Portfolio Management is becoming a more important part of the project management world - especially at enterprise level. So, what is Project Portfolio Management?

Project Portfolio Management Software TrustMap

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Learn More About Project Portfolio Management Software

What is Project Portfolio Management Software?

Project Portfolio Management (PPM) Software maintains a centralized, top-down view of the projects and initiatives undertaken by an organization. The goal of Project Portfolio Management is usually to optimize the use of resource and selection of projects to best achieve the organization’s operational, financial and strategic objectives.

PPM Features & Capabilities

In addition to project management features, PPM software often includes the following capabilities:

  • Resource allocation and management
  • Risk management
  • Budgeting
  • Scope management
  • Change management
  • Quality management
  • Cost and benefits measurement and tracking
  • Predictive capabilities

Project Portfolio Management vs. Project Management

Project Portfolio Management (PPM) is related to Project Management. Project management tools focus on enabling the planning and execution around individual, discrete projects. PPM software is more about enabling the right selection of projects and allocation of resources. Many PPM products also include project management features and/or integrate with project management tools.

A central component of PPM software is the ability to group various projects into portfolios, allowing for top-down analysis. The software helps users analyze how well each project and portfolio is performing based on objectives. This knowledge can then be leveraged in future planning. Some PPM software uses predictive technology to help with project prioritization.

PPM software might be used by the Project Management Office, the CIO, and other executives.

Project Portfolio Management Software Comparison

Before purchasing new PPM software there are a few key things to consider:

PPM vs PM: It is possible to find project management software that also functions as an all-in-one platform that allows you to focus on individual projects as well as manage multiple projects and how they connect. Project portfolio management software can help align your projects with business goals, meet business requests and demands, and help projects be more successful. However, if your entire organization doesn’t operate on a “project” mindset or you are just using this for smaller teams, project management software should suffice.

Integrations: Given their nature as facilitating cross-functionality, look for PPM software that has built-in integrations with software you’re already using. While many will allow you to integrate via APIs, save time (and money) by opting for tools that have already dealt with configuring these processes for you.

Free trials: As we suggest for project management software as well, before purchasing a new PPM platform, make sure you have taken full advantage of any free trials (or free versions) the vendor offers. Setting up a realistic but test portfolio of projects is a great way to make sure you actually like the interface and features of any given PPM platform. Exposure to the software during the free trial will also help you make a more informed decision about whether it will fit into your team’s workflow.

Start a Project Portfolio Management software comparison

Pricing Information

PPM providers usually do not list pricing on their websites, and there is variation in pricing schemas, making direct comparison difficult. But as a rule of thumb, pricing begins at about $30 per user per month.

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Frequently Asked Questions

What's the difference between Project Management and Project Portfolio Management software?

Simply put, the difference is that project management software is focused on individual projects from start to finish, and project portfolio management software is focused on how multiple projects all fit into a business's overall objectives.

Project portfolio management software can help align your projects with business goals, meet business requests and demands, and help projects be more successful. However, if your entire organization doesn’t operate on a “project” mindset or you are just using this for smaller teams, project management software should suffice.

What is a project portfolio manager?

According to Wrike, a project portfolio manager oversees projects to ensure they are being executed at full potential and to jump in when necessary. Unlike project managers, project portfolio manager analyzes and supports the completion of several groups of projects at once as they relate to overall business objectives.

How do you implement project portfolio management?

Implementing a project portfolio management plan begins with asking yourself a few questions: What will business problems will PPM solve? Which processes will benefit the most from project portfolio management.

Since project portfolios are most concerned with corporate planning and how projects support businesses, it is best to strategize holistically. Portfolio-level goals can help inform different initiatives, services, and organizational activities.

PPM's primary focus is on choosing which projects to support and how to finance them, depending on if they support company priorities and objectives.