Project portfolio administration software program differs from undertaking administration software program in that the previous has to supervise many tasks whereas the latter solely includes one undertaking. That’s going to require particular undertaking portfolio administration instruments that may handle all these tasks without delay.
To perceive which is one of the best undertaking portfolio administration software program to your group, let’s first checklist the must-have undertaking portfolio administration instruments and why they’re so vital. Then we’ll rank the highest 10 undertaking portfolio administration software program merchandise, detailing every.
What Features Make the Best Project Portfolio Management Software?
Project portfolio administration (PPM) isn’t drastically totally different from undertaking administration. They share many of the identical instruments, solely instruments for a undertaking portfolio administration software program must work throughout many tasks. They ought to have a centralized repository to seize paperwork associated to the tasks to make sure all tasks are working collectively to satisfy the objectives and goals of the group.
Naturally, the undertaking portfolio administration instruments must be easy to make use of, with a purposeful interface. A collaborative platform can be important. Communication is vital in managing one undertaking and exponentially so when managing many. You’ll need to search for instruments that may visualize the tasks and aid you manage them, resembling roadmaps; these are just like a Gantt chart however with each undertaking within the portfolio proven from begin to end.
Then there’s monitoring. You’ll need sturdy reporting and analytics. Reporting ought to have the ability to provide you with a portfolio standing report that may be shared with executives and different stakeholders to maintain them up to date on progress. But you’ll additionally need to have a undertaking portfolio administration software with a portfolio dashboard for a high-level view of the undertaking’s progress and efficiency. That’s only a few of the fundamentals. Let’s see which functions have the correct instruments and options on the proper worth.
2023 Best Project Portfolio Management Software Rankings
Now, we’ll look over the ten greatest undertaking portfolio administration software program and see the place they excel and the place they’re missing in undertaking portfolio administration instruments. The checklist begins with one of the best and strikes right down to our least favorites of the group. All are respectable undertaking portfolio administration software program merchandise, however just one may be one of the best.
1. ProjectManager
- Best undertaking portfolio administration software program for sturdy PPM instruments
- Powerful portfolio standing studies, dashboards and roadmaps
- Flexible and collaborative software
ProjectManager is undertaking portfolio administration software program that checks all of the bins, which is why it leads our best-of checklist. It permits customers to group and manage all their tasks, whereas managing assets throughout these tasks and gathering insightful studies to make higher selections. This on-line software program delivers reside updates to assist observe progress and efficiency in actual time so portfolio managers can reply rapidly to maintain their tasks on observe with a versatile and collaborative platform.
Group and Track Projects With Portfolio Tools
One of the issues we first seen was the portfolio options that permit customers to maintain observe of all of the tasks they’re managing whereas capturing invaluable data that informs portfolio managers on tips on how to greatest allocate assets. You can manage your tasks by placing them into folders and highlighting these which might be of prime concern in order that they’re all the time entrance and heart. You also can filter the undertaking data with filters to see solely the information you’re fascinated by. For a high-level overview of your portfolio, the software program has a reside dashboard that captures six metrics, together with time, price, and so forth. Unlike others on this checklist, no time-consuming setup is required. You simply toggle over everytime you need to get an summary of your portfolio. There’s additionally customizable reporting, resembling portfolio standing studies, that may be filtered to spotlight standing, buyer and extra.
Manage Portfolio Resources With Roadmaps
One of probably the most spectacular undertaking portfolio administration (PPM) instruments that ProjectManager has is its highly effective and intuitive PPM roadmaps, which give customers an summary of all of the tasks of their portfolio in a single place. The roadmap has useful resource administration options in addition to time monitoring and activity administration. It may be filtered by assignee, undertaking supervisor or prospects to assist portfolio managers make higher forecasts. It’s simple to see which tasks are open and the workforce members who’re assigned to duties in these tasks. Key metrics may be highlighted to maintain stakeholders up to date. In phrases of human assets, there’s a color-coded workload chart that makes it simple to see what number of duties every workforce member has throughout the portfolio. You can then reallocate your assets from the chart to stability their workload and hold groups working at capability and productive.
These undertaking portfolio administration instruments make ProjectManager one of the best undertaking portfolio administration software program on our checklist. Add its sturdy threat administration options, workload automation, with activity approval settings, and integrations and the software program is an ideal match for managing your portfolio, program or undertaking. Get began with ProjectManager right this moment without cost.
Pricing
- Team plan: $13 person/month
- Business plan: $24 person/month
Quick Facts
- ProjectManager affords a free 30-day trial
- ProjectManager has a cellular undertaking portfolio administration app for Android and iOS
2. Microsoft Project
- Best undertaking portfolio administration software program for Microsoft customers
- Centralized useful resource administration
- Enterprise-wide collaboration
Microsoft Project is undertaking portfolio administration software program beneath the identify of Microsoft PPM, which has a central server that works with Microsoft Project Professional Client and its Project Web app. It helps collaboration, centralized knowledge storage and useful resource administration. It’s additionally helpful for these utilizing the opposite suite of MS apps because it integrates seamlessly with them. Other options embody scheduling, price administration, workflow and studies.
Like many of the undertaking administration options provided by Microsoft, this one can be complicated and time-consuming to study. It’ll take effort and time to get the undertaking portfolio administration software to work successfully. Then there’s the expense, which might stifle smaller groups, but additionally add up with bigger ones to make it inadvisable. Oddly, the undertaking portfolio administration software program isn’t all the time appropriate with different variations of the product or different instruments that workforce members may be utilizing. It’s merely not a great match for smaller tasks and may turn out to be too excessive a hurdle for bigger ones to clear.
Pricing
- Project Plan 1: $10 person/month
- Project Plan 3: $30 person/month
- Project Plan 5: $5 person/month
Quick Facts
- Microsoft Project has a 30-day free trial
- Microsoft Project doesn’t have a cellular undertaking portfolio administration app
3. Planview
- Best undertaking portfolio administration software program for worth stream administration
- Automates product improvement
- One supply of reality
Planview is undertaking portfolio administration software program that may automate the gated product improvement course of, cut back prices and mitigate dangers. It doesn’t require handbook knowledge gathering however has a single supply of reality and reporting options for government visibility and extra insightful decision-making. It helps customers align their portfolio with their group’s technique, model and extra. It’s a really product-oriented undertaking portfolio administration software that captures the voice of the client to drive new product innovation.
While there are loads of options, the instruments may be overwhelming for customers, who’ve complained of complexity and a cluttered workspace. That isn’t a deal-breaker, nevertheless it does imply that potential prospects should take into account the big quantity of effort and time required to get aware of the software sufficient for it to make sense for his or her portfolio. While it doesn’t make customers collect knowledge manually, there’s loads of knowledge entry to get began. That mixed with the pricing can result in a giant upfront funding which may bitter customers from even getting began with Planview, particularly since there are lots of different alternate options that don’t have these points.
Pricing
- Contact Planview for pricing construction
Quick Facts
- Planview has a 30-day free trial
- Planview has a cellular undertaking portfolio administration app for Android and iOS
4. Zoho Projects
- Best low-cost undertaking portfolio administration software program
- Project checklist view
- Dashboard and reporting options
Zoho Projects is a comparatively cheap undertaking portfolio administration software program that has numerous methods of monitoring the progress of the tasks in a portfolio. It does this based mostly on particular person purchasers. For instance, there’s a undertaking checklist view that exhibits all of the tasks, which might then be seen by shopper, title, % full, standing, price range, time logs and extra. More undertaking portfolio administration instruments embody its dashboard and shopper report that outlines time logs and budgets for every undertaking.
Maybe it’s as a result of of its low worth level, however customers have complained concerning the poor help supplies to assist them get began with the undertaking portfolio administration software program. Customer help can be missing. You’re simply not going to get a lot hand-holding at this worth. That’s an issue as a result of Zoho Projects isn’t the only undertaking portfolio administration software program available on the market. It’s a bit complicated as a result of it’s unnecessarily complicated, which makes the weak customer support all of the extra of a disgrace.
Pricing
- Premium: $5 person/month, as much as 50 customers
- Enterprise: $10 person/month, limitless customers
Quick Facts
- Zoho Projects has a 10-day free trial
- Zoho Projects has a cellular undertaking portfolio administration app for Android and iOS
5. Smartsheet
- Best undertaking portfolio administration software program for undertaking templates
- Data evaluation and automatic reporting
- Lots of integrations
Smartsheet is undertaking portfolio administration software program that has knowledge evaluation and automatic reporting to assist customers prioritize, establish trade-offs and make extra knowledgeable selections. It affords real-time visibility and knowledge triage so as to add worth and implement tasks rapidly. There are additionally integrations with in style third-party apps resembling Google, Microsoft and Slack. It has collaborative options and standardizes processes for consistency in planning and execution. One of one of the best advantages is its massive library of templates, from strategic planning to useful resource administration.
Like many of the undertaking portfolio administration instruments ranked right here, Smartsheet is difficult, particularly for inexperienced persons. It’ll take them some time to get their sea legs. But what do you anticipate from a undertaking portfolio administration software that designs itself after the notoriously irritating spreadsheet? Another stumbling block on the way in which to buying Smartsheet is its pricing construction. For instance, its Pro plan might sound reasonably priced till you understand there’s a minimal and most person rely. You’ll doubtless must improve to the marketing strategy, which is sort of 4 instances as costly.
Pricing
- Pro: $9 person/month, a minimal of three and as much as 10 customers
- Business: $32 person/month, minimal three customers
Quick Facts
- Smartsheet has a 30-day free trial
- Smartsheet has a cellular undertaking portfolio administration app for Android and iOS
6. Wrike
- Best undertaking portfolio administration software program for integrations
- Real-time PPM software
- Task administration options
Wrike is undertaking portfolio administration software program that helps you optimize your tasks with real-time PPM options, which assist with forecasting and collaboration to interrupt down silos and cut back portfolio threat by offering a transparent view of deadlines, accessible assets and extra. Wrike has many templates to get you began and integrations to attach you with different apps that you simply may be utilizing along with your undertaking portfolio administration instruments. There are additionally activity administration options that automate processes, dashboards and reporting options to be sure to’re on observe.
A minor drawback of this undertaking portfolio administration software is that it has no note-taking perform. More of an issue is the expense, the extra options you need (and wish for portfolio administration), the upper the value. While there are lots of integrations related to Wrike, the notifications are sometimes delayed, which defeats loads of the explanations for having third-party apps built-in into the undertaking portfolio administration software program. The default filter must be modified manually to view all duties, which is irritating, as is the dearth of chat. The workload and availability of assets additionally want work. It’s not complete sufficient or consolidated.
Pricing
- Professional plan: $9.80 person/month, 2-25 customers
- Business plan: $24.80 person/month, 5-200 customers
Quick Facts
- Wrike has a 14-day free trial
- Wrike has a cellular undertaking portfolio administration app for Android and iOS
7. Monday.com
- Best undertaking portfolio administration software program for workflow administration
- Uses templates for PPM
- Scoring and rating options
Monday.com is undertaking portfolio administration software program that requires you to construct a platform with the correct templates. But when you get that began, you need to use the workload view and its useful resource administration template to establish assets which might be allotted to your tasks and be sure to have sufficient to get the work performed in a well timed method. There are scoring and rating to know the tasks that ship the very best advantages and least quantity of threat. Dashboards also can measure undertaking alignment and efficiency.
As with different merchandise on this greatest undertaking portfolio administration software program checklist, Monday.com has complicated pricing. There are person minimums that make the pricing seem extra cheap than it truly is. You can’t even test it out, actually, because the free trial is just 14 days. Then there’s one of the best options which might be hidden behind a better tier pricing plan, resembling time monitoring. You must have a Pro subscription for that, which provides extra money to the value tag. Monday.com is enticing, however portfolio managers care little about appears and extra about what the software program can do.
Pricing
- Basic: $30/month, minimal of three customers
- Standard: $36/month, minimal of three customers
- Pro: $60/month, minimal of three customers
Quick Facts
- Monday.com has a 14-day free trial
- Monday.com has a cellular undertaking portfolio administration app for Android and iOS
8. Kantata
- Best undertaking portfolio administration software program for useful resource administration
- Time-tracking options
- Has timecards
Kantata is undertaking portfolio administration software program that helps you handle all of your tasks and assets. Project portfolio data is collected in a single place so customers can test the standing of duties and deliverables, prioritize and align assets and keep watch over their schedule and price range. There are time administration options resembling timecards, monitoring of billable and non-billable hours and monitoring of time, bills and prices.
One downside customers will face is that there are few choices for personalization. While there’s a cellular app, it’s not probably the most intuitive to make use of. It’s all the time a priority when costs aren’t outlined on the product’s web site. The customized pricing provided by Kantata is dear, particularly should you’re a smaller enterprise. Plus, there are annual upkeep charges that can push many customers away. Another strike in opposition to it’s how complicated it’s to make use of. That means placing in loads of time simply to discover ways to use the undertaking portfolio administration software program, together with coaching, which prevents customers from getting began rapidly.
Pricing
- Enter your organization data to see customized pricing
Quick Facts
- Kantata doesn’t supply a free trial
- Kantata doesn’t supply a cellular undertaking portfolio administration app
9. Workfront
- Best undertaking portfolio administration software program for situation planning
- Workflow administration
- Portfolio overview
Workfront is undertaking portfolio administration software program that has situation planning, a portfolio overview, reporting and useful resource administration options. It’s simple to establish all of the tasks in a portfolio and see the impression every undertaking has on assets, prices and income. Workfront has undertaking portfolio administration instruments that assist customers to make extra knowledgeable strategic selections when prioritizing, deciding on or eradicating tasks from their portfolio. It additionally has workflow administration capabilities that may tackle a portfolio of tasks.
It’d be good if Workfront was simpler to make use of. Its interface isn’t user-friendly and it doesn’t have a dependable offline mode. That complexity makes organizing all of your tasks tougher than it must be. Users advisable it just for very skilled portfolio managers. This goes to place a wall between Workfront and customers in small-to-medium-sized organizations who need to handle easier portfolios, nevertheless it’s higher suited to enterprise-level work. Also, those that need to do their work on the go will discover that the cellular model of the product isn’t all it might be. Users say there are points with it. You may need to look elsewhere.
Pricing
- Enterprise, enterprise and professional license sorts accessible, pricing upon request
Quick Facts
- Workfront doesn’t supply a free trial
- Workfront affords a undertaking portfolio administration app for each Android and iOS
10. Clarity PPM
- Best undertaking portfolio administration software program for strategic roadmaps
- Financial and budgeting administration
- For medium-to-large enterprises
Clarity PPM is undertaking portfolio administration software program with monetary administration, budgeting, time-tracking and reporting options. It’s utilized by medium-to-large enterprises, particularly these on the lookout for monetary evaluation instruments. It has forecasting for assets, undertaking, program and portfolio administration, with a number of real-time studies for higher insights.
Some customers complained about its timesheets having complicated UI and that the monetary reporting on which it prides itself may use enchancment. While the pricing isn’t shared on the positioning, customers have complained of the price, which may be within the lots of of 1000’s of {dollars}. But this can be a undertaking that’s made for bigger corporations with deep pockets. Of all of the merchandise on our checklist of undertaking portfolio administration software program merchandise, this stands alone as the costliest and centered on larger enterprise prospects.
Pricing
Quick Facts
- Clarity PPM doesn’t supply a free trial
- Clarity PPM has a undertaking portfolio administration app for Android and iOS
Which Project Portfolio Management Software Is Right For You?
The determination is yours. We’ve chosen 10 of one of the best undertaking portfolio administration instruments and rated them, each in phrases of how they succeed and the place they fall quick. Of all of the merchandise we examined, ProjectManager is the clear winner. It hits all of the candy spots in phrases of options, worth and person expertise. Use it to handle your portfolio, whether or not huge, small or in between.
ProjectManager is award-winning undertaking portfolio administration software program that offers portfolio managers the instruments they should plan, handle and observe their portfolios in actual time. With roadmaps, Gantt charts, kanban boards, checklist and calendar views, it has a number of undertaking views to present everybody on the workforce the instruments they need. Plus, managers get portfolio dashboards, workload charts and studies to assemble invaluable knowledge to raised allocate assets. Get began with ProjectManager right this moment without cost.
