How to Choose the Best Project Portfolio Management Software

Companies use PPM tools (a Project Portfolio Management software) to make predictions on future projects, by measuring their potential revenue. A good project planning software allows in-time tracking and risk management of multiple projects.

Plenty of your business objectives require attention and fast solutions. So, the best project portfolio management tool allows you to automate tedious tasks and scheduling doesn't become a problem.

Take a look at our list of best project portfolio management ppm tools!

1. Monday.com
2. Wrike
3. SmartSheet
4. Trello
5. Microsoft project
6. Asana
7. Celoxis
8. ProWorkflow
9. Workzone
10. Clarizen

Before telling you about each project management tool, see bellow the features it has to include. Depending on what you need the software for, you might be interested in different things, such as reporting or resource allocation.

What to look for in a project management software?

When looking to purchase such a PPM software, you need to make sure that it fits your business needs. Whether you are looking to manage resources, track multiple projects, or analyze project performance. Here are the most important PPM tools to look for in a project portfolio management software.

Your project portfolio should have resource management tools.

Resource management is one of the most important project requests. It implies that project managers allocate resources, organize and plan their usage in an efficient and effective way, to achieve the business objectives.

Efficient resource capacity planning involves minimizing waste and reducing costs, while still achieving the desired outcomes. The project progress consists of optimizing the use of resources through strategies. They include sharing, pooling, and re-purposing resources using PPM tools.

Effective resource planning involves identifying the available needs to complete a task or project. Then, allocating them in a way that maximizes their potential impact. This often involves prioritizing resources based on their importance for the project scope.

Project Portfolio Management Software - project data

Your project portfolio management tool must be able to gather, analyze, and report data. With good analytics, you will be able to make better, informed decisions and get insights on your business value.

You want to track progress through complete reports from a high regarded PPM software. They help you understand project costs, optimize resource utilization, and find key performance indicators (KPIs).

PPM Software for financial planning

Speaking of project financials, a project portfolio management software must contain tools for financial management. This aspect takes importance in project budget management and expense tracking.

You want to make smart decisions and increase project lifecycle if it is profitable. With good team collaboration, you can pick a PPM tool for the payroll streamline and invoices.

Risk management and project execution

All project portfolios have a chance of failure if there are no risk management tools put in place. Having automated solutions decrease that risk, and positively impact business intelligence.

Manage tasks and project delivery to be on time, make risk response plans and allocate resources according to these factors. Take a look at our list of project portfolio management tools bellow and choose the one that better fits your needs.

Project Management Software - Monday.com

Is a powerful, modern and user-friendly PPM tool with a focus on team collaboration and transparency. Mondy.com offers extensive project management capabilities such as Gantt charts, task boards and custom fields.

All these features allow teams to stay up to date. It can be integrated with Slack, Google Suite, Dropbox and more.

The software has an intuitive interface that you can use to manage multiple projects with professional services. Disperse focus on the entire project portfolio with customizable notifications, strategic alignment, and automation.

Plans and Pricing

• Individual - €0/ mo
• Basic - €8/ mo
• Standard - €10/ mo
• Pro - €16/ mo
• Enterprise - custom pricing

Wrike PPM tools

Wrike is a comprehensive PPM solution that offers a variety of features that organize and manage complex projects. It offers real-time visibility into all tasks, resources, and budgets for each project. Your team can to stay on track with deadlines and reduce risk management in project efforts.

This tool is very versatile. It allows dashboard customization, collaborative cross-tagging, streamlined proofing, and Gantt charts. Wrike is easily integrated with Salesforce, Tableau, Microsoft Teams, and others

Plans and Pricing

• Free - $0/ mo
• Team - $9.80/ mo
• Business - $24.80/ mo
• Enterprise - custom pricing
• Pinnacle - custom pricing

SmartSheet

An intuitive project portfolio management software that allows flexible, modern work. SmartSheet enables your businesses to easily create powerful Gantt charts, dashboards, timelines and more. It provides teams with an effective way to plan, manage and track project portfolios from start to finish.

Companies of all sizes can use this PPM tool for capacity planning and critical path analysis. SmartSheet bases its features as a work collaboration platform that drives growth and impact. Its interactive interface makes switching between boards an easy job. Integration softwares include Slack, Dropbox, and Gmail.

Plans and Pricing

• Free - €0/ mo
• Pro - €6/ mo
• Business - €22/ mo
• Enterprise - custom pricing

Trello - Project Management Software

Trello is a flexible tool that combines project management and workflow automation in one easy-to-use platform. Easily start project planning and time tracking, while having a brainstorming place.

This project portfolio management tool allows users to organize tasks into boards or lists and stay up to date. It integrates with popular apps for a more powerful workflow, such as Jira and Slack.

Plans and Pricing

• Free - $0/ mo
• Standard - $5/ mo
• Premium - $10/ mo
• Enterprise - $17.50/ mo

Microsoft Project

Microsoft Project is an advanced PPM tool that offers project tracking and resource capacity features. It provides powerful reporting capabilities, scenario planning, and customizable views. It provides project details on progress and roadmaps at any given time, being integrated with Microsoft 365.

Stay on track and improve results with business intelligence. You can customize your dashboard to easily work on team projects, small or complex ones. Microsoft Project offers professional services that let you focus on your tasks.

Managing projects has never been easier. Pick the solution that best fits your needs, whether it is cloud-based or on premises.

Plans and Pricing

• Project plan 1 - $10.00/ mo
• Project plan 3 - $30.00/ mo
• Project plan 5 - $55.00/ mo
• Project Standard 2021 - $679.99/ mo
• Project Professional 2021 - $1,129.99/ mo
• Project server - custom pricing

PPM tools - Asana

Is a comprehensive portfolio management tool designed to help teams stay organized and on track. Asana offers powerful task management features such as subtasks, due dates, and custom fields. Plus, use its streamlined reporting suite to gain insights into team collaboration and resource planning.

This project portfolio management software has an easy to use interface for efficient cross-functional work. Asana's flexibility and visibility allows project prioritization and portfolio management. This way, you can automate workflow and create purpose with one platform.

Plans and Pricing

• Basic - €0/ mo
• Premium - €10.99/ mo
• Business - €24.99/ mo
• Enterprise - custom pricing

Celoxis

Project managers use Celoxis as an enterprise-level PPM software with precise tools for resource management. They include features such as task management, Gantt charts, and issue tracking.

Maintain productivity high and manage project roadmaps with this all-in-one, customizable tool. Better yet, integrate Celoxis with Google Calendar, Microsoft 365 and more business softwares.

Plans and Pricing

• Cloud solution - $22.50/ mo
• On-premise solution - custom pricing

ProWorkflow

ProWorkflow is a user-friendly portfolio management solution, developed to make communication easier. It allows users to assign tasks, track time, and make comments in real time to avoid project delays.

It also offers powerful reporting features for tracking project efforts. Pro Workflow streamlines processes by easy integration with Zapier and Xero, among other softwares.

Plans and Pricing

• Professional - €20/ mo
• Advanced - €30/ mo

Project Portfolio Management PPM - Workzone

Workzone is an award-winning portfolio management software. It offers a range of features to help companies manage project performance. It includes task management, calendars, reports and more.

Integrate Workzone with other popular applications, such as Slack and Salesforce, to keep project delivery on-time. Their customer service is readily available any day of day, through email and mobile, should you need it.

Plans and Pricing

• Team - $24/ mo
• Professional - $34/ mo
• Enterprise - $43/ mo

Manage projects with Clarizen

If you're looking for a powerful cloud-based PPM tool, Clarizen (now Planview AdaptiveWork) is a good option. Manage projects from start to finish with project portfolio scheduling, expense tracking, and team collaboration.

Planview AdaptiveWork offers integrations with Salesforce, Microsoft Outlook, and Jira. This allows teams to work seamlessly across different tools and platforms.

Conclusion

Stay organized and on track with the best project portfolio management software. With such a wide variety of tools available, you’re sure to find the right solution for your business. You have the power to streamline processes, reduce risk, and maximize ROI with one comprehensive platform.

Find here the project portfolio management tool that best meets your needs. Learn how to use it to the fullest and ensure that your business stays organized and efficient.