If project management is about doing things right every time, then project portfolio management or PPM (Project Portfolio Management) is about doing the right thing at the right moment. Enterprises need guidance to help them prioritize limited resources and money. Software that manages project portfolios helps business leaders align company goals and team efforts.
Also read: Using Organizational Strategies & Goals for Better Project Plans
Table of Contents
What is Project Portfolio Management (PPM Software)?
Why do companies need portfolio management software?
Top Project Portfolio Management Software and ToolsPlanview Clarizen
Wrike
monday.com
Scoro
Sciforma
KeyedIn Solutions
Dragonboat
Proggio
Workzone
Easy Projects
Types of PPM software
Project Portfolio Management Software Features
What is Project Portfolio Management (PPM Software)?
Project portfolio management is the process of analyzing potential revenue from a project. Project portfolio management software aids in the selection, optimization, oversight, and monitoring of project investments. Project sponsors, executives, and project managers can see the big picture with a good PPM tool. They can analyze, manage risk, and forecast as they invest in new projects.
Why do companies need portfolio management software?
Software that manages project portfolios gives companies visibility, oversight and the ability to help them prioritize and manage their current projects and resources. It can also help them manage future projects. Users of PPM tools now have a central platform for managing their overall project efforts. Factual information can now be used to help companies decide where to invest their time, budget, and staff.
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What is the Best Project Portfolio Management Software?
Project portfolio management software allows users to manage projects and resources from a top-down perspective. Our top PPM tools are innovative and offer different perspectives, including strategic overviews and individual project details.
Planview Clarizen
Planview Clarizen, a project portfolio management and enterprise management software, enables teams to maximize project results. It combines project management, workflow automation, in-context collaboration, and project management. It allows users to easily customize its dashboards and UI and integrate with task management apps and team communication apps. This makes it a great fit for businesses.
Planview Clarizen allows teams to coordinate communications and collaborate productively. It uses shareable discussions, emails and files, as well as links and centralized proofing. Automated processes, alerts and workflows make it easier to generate up-to-date status, financial, or resource reports that allow users to make data-driven decisions.
Pros
Alignment of strategy-to-project goals
Group communication
Supportive and responsive
Cons
Performance reporting needs to be improved
Users report occasional slowdowns in their app
Wrike
Wrike project management software has a wide range of features, including a PPM tool. It offers flexibility for different teams with customizable components such as dashboards, workflows and automation. You can easily share information with others anytime through real-time collaboration via comments, notifications, live editing and dynamic reports.
Wrike PPM software allows users to connect strategy and execution in an intuitive, collaborative platform. To prioritize the best investments, users can organize and customize project request forms. Multiple work views and project templates help speed up project rollout. Detailed reporting, resource management, time tracking, and centralized reporting improve accuracy and optimize resource planning.
Pros
Collaboration on integrated projects
Task management
Time tracking
Cons
Needs simpler navigation for multiple projects
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