Top 8 Project Portfolio Management Tools
monday.comPlanview Enterprise OnePlanview PPM ProServiceNow IT Business ManagementBroadcom Clarity PPMSmartsheetMicrosoft Project ServerChangepoint Daptiv
The stability is good.
The templates were always the best part as not starting from scratch made the process so much easier.
In my opinion, the financial planning feature is the most valuable feature of Planview Enterprise One.
We provided whatever feedback we had to the Planview team, and they went in and built those additional features that we requested. For example, they created a great way for our users to search for a specific resource, project, program, or role. We were not using some of the features, and we wanted them to not be visible, and they helped us with that. They also brought a feature to provide visibility into when a resource was never assigned to any task. There was no visibility to this before. This feature was really very good for visibility into the resource portfolio.
You can easily align strategic management and the portfolios within your organization. It helps you visualize all your strategic plans and the KPIs. It provides that information on a unified dashboard, in which you can track all your resources and the portfolios. It helps senior stakeholders and executives with clear reporting about project intake and demands, in real time.
As a product, the primary reason we like it is it gets integrated with our ITSM solution so that we don't have to go for an external product for project management like Jira.
The most useful feature for me as an implementer of Broadcom Clarity PPM is its extensibility. The tool is pretty extensible, and I haven't had any issues with it in terms of it getting used for multiple scenarios and for multiple clients where there's a need for high customization. Broadcom Clarity PPM is a very, very customizable tool, so you can pretty much implement any business process on it with no issues.
Smartsheet is stable.
What I found most valuable in Smartsheet is its project customization feature. It's a great solution because you can add in your own WBS. You can see it in Jira style, Kanban, and you can even do Agile and Waterfall. Another feature that's valuable in the solution is when you have those connections, you have that API, you have a sandbox, and you can make a solution, it's a tremendous product because you can pull data.
The solution has easy integration with Excel.
The technical support for Microsoft Project Server and the support is very good. Microsoft support is working very well.
I like the reporting engine, IBM Cognos, especially the analytics. That's a good tool. It's quite strong on the ideation and capacity-planning side, which is a huge plus.
Project Portfolio Management Articles
Project Portfolio Management Topics
Is PPM a software?What is the difference between project management and portfolio management?Why are PPM tools used?What are the three tools in portfolio management?Project Portfolio Management Software BenefitsProject Portfolio Management Software Features
Is PPM a software?
In most cases, yes, PPM is a software. The best PPM solutions are software or even SaaS in today's fast-growing, ever-changing marketplace. In fact, many solutions are even moving toward more cloud-based options, as that is what the industry is demanding.
What is the difference between project management and portfolio management?
Project management commonly involves the general daily tasks concerning project planning, such as status, surveillance, inquiry, etc. The focus is on immediate goals and priorities: what activities are to be completed today, by whom, etc. These tools are available to help teams clarify daily goals, maintain budgets and timekeeping, and celebrate daily accomplishments and successes.
Project portfolio management is created for long-term far-reaching projects, processes, or product development. A worthwhile PPM will assist enterprise organizations in better understanding how a planned project, process, or new product development may affect the overall organization's performance and impact current resources. The PPM will show a comprehensive perspective of each and every project or process and how the new anticipated project or process may affect the relationships and dependencies between the processes throughout the entire enterprise. Managers, clients, and all stakeholders will have access to the PPM perspective, which will ensure all parties involved are aware of the anticipated success or potential challenges an enterprise may experience and provide direction for course correction.
Why are PPM tools used?
PPM tools provide direction for an organization to ensure the success of an anticipated project or process. PPM tools provide insight and facilitate the establishment of realistic long-term goals, planning processes, and strategic perspectives. Using the goals and guidelines set forth by a PPM tool, organizations can avoid unnecessary predictable disasters, prevent significant financial loss, save money, and maintain the highest levels of productivity and profitability.
What are the three tools in portfolio management?
The basic tools in portfolio management are:
Predictive analysis: A value-added portfolio management will offer some form of predictive analysis. Users will get a complete analysis of the objective and goals of the project or process. Every step will be broken down, itemized, and prioritized to ensure the best ROI and guarantee success.
Collaboration: The success of any project relies heavily on the ability of team members, executives, participants, and stakeholders to openly communicate and collaborate on the status of a project. Real-time feedback and input are extremely important to keep a project or process moving forward according to established goals and guidelines. All approved parties should have equal open access to keep communication lines open and foster an environment of teamwork and shared success.
- Risk assessment: A highly-regarded factor of portfolio management is risk assessment. Users should be privy to potential risks or problems outlined by portfolio management that would make a project or the process difficult to complete successfully. This helps decision-makers decide if the project is cost-effective and if a profitable outcome can be achieved.
Project Portfolio Management Software Benefits
Benefits of PPM software include:
Improved decision-making: A highly-regarded PPM tool will provide complete visibility both backward and forward to help design a successful strategic plan to achieve the highest profitable outcome. Past projects and processes will be reviewed with regard to costs, time management, resources used, outcomes, etc., and determine the best possible methods to move forward with success and achieve even more profitable outcomes.
Maintain organizational goals: A winning PPM tool will help ensure that every project chosen is aligned with the organization's directives, strategies, and goals. If a project does not meet the criteria to help move an organization forward in its stated goals, then it may result in wasted resources, unnecessary financial strain, and affect the organization's profitability and standing with clients, employees, and stakeholders.
- Increase profitability: A PPM tool will improve the opportunity for an organization to choose the appropriate projects and ensure they are completed in a timely and successful manner. The PPM will ensure that there are trained staff and necessary resources available to achieve the best cost-saving outcomes and deliver the highest profitability and ROI.
Project Portfolio Management Software Features
When choosing PPM software for your company, look for the following features:
Gantt Chart: Gantt charts are fundamental in team workflow planning. This friendly, visually stimulating, easy-to-understand chart is very effective in helping teams recognize, record, and designate the appropriate amount of time and resources needed to complete a project/task in a timely manner. A Gantt chart is a desirable, necessary feature to expect in a PPM solution.
Adjustable workflows: The PPM software selected should offer the flexibility to adjust workflows as needed. Every organization will have unique processes, objectives, or criteria, and changes may be necessary to deliver an effective, successful outcome for each specific organization.
- Enhanced productivity: Every participant in the process will have an individual personalized dashboard that keeps everyone updated on progress. The PPM should provide a real-time status view, invite open collaboration, and present how everyone’s contributions relate to the overall success of the project. This way everyone understands the priorities and objectives and is encouraged to do their very best to achieve group success. All contributors, participants, and stakeholders are continually aware of the progress being made, what is expected of all participants, and the timeline of when the project or process is to be completed.