Project Portfolio Management Software

What is Project Portfolio Management Software?

Project portfolio management software is used to support processes related to evaluating and selecting new projects, as well as managing an existing portfolio of projects. These applications help to make smart financial investments when choosing new projects and to make the necessary adjustments to project portfolios to ensure the optimal return on investment. PPM software collects and organizes all of the data related to individual projects, consolidating it and turning it into reports based on various metrics, such as business goals, costs, resources and risks.

With a PPM solution, information such as project names, objectives, deadlines, resources, schedules and tasks are centralized to give an overview of all project information within a project portfolio. This single view of the entire portfolio helps you to understand the effect of poorly performing projects on the rest of your portfolio, as well as to pin-point successful campaigns .

A key function of project portfolio management software is to ensure strategic alignment in project selection and delivery by defining certain organizational criteria for project selection. The reporting tools of these applications allow you to monitor the success of projects in meeting these strategic goals and targets. They also provide the ability to define deliverables for specific projects, as well as to allocate owners to these deliverables and track their progress over time.

These apps allow to analyze the potential effect of changes to individual projects on the entire portfolio before implementing them, such as the impact of an acquisition or merger on project deliverability. You can also analyze the potential impact of adding new projects and whether they can meet financial and resource constraints.

Project portfolio management software is used to manage budgets related to new and existing investments. You can build forecasts over a defined time-frame and submit approved forecasts for financial analysis. These can be compared against actual budgets to keep forecasts in line as projects develop.

A core feature of PPM software is the ability to produce reports based on key performance indicators and metrics. Reports can be standardized and automated to include the most relevant data to match your current portfolio. Reports on financial forecast and budget can be generated to understand the organization’s overall financial and resource capability.

Notifications and alerts are another key component of PPM software. These apps will notify you of failing projects in good time, ensuring the right course of action is taken to prevent future damage.

Resource management is a key feature of PPM software. These tools enable you to identify resource demand and allocation inefficiencies. They help to prevent duplicated supply as well as to adjust supply based on changing project scenarios. You can create and manage resource demand profiles for roles and departments, schedule resources and analyse resource capabilities and utilization.

These tools can also be used in hiring new project workers, ensuring new hires meet skills requirements. You can also define payments based on grades and roles. These tools can also be used to create work calendars, manage time-off and track productivity across projects.

Project portfolio management software enables collaboration among project teams, with the ability to share and centralize documents and files, as well as calendars, issues and discussions. PPM software also allows you to map your project hierarchy, helping you to manage priorities and make important decisions such as when to shift resources on current projects and when to take on additional projects.

Key Features & Benefits

  • Project portfolio overview
  • Define criteria for project selection
  • Allocate tasks and track progress
  • Notifications and alerts on performance changes
  • Forecasting and prediction analysis
  • Budget management and analysis
  • Custom reports on individual projects and entire portfolio
  • Resource management of staff and inventory

Project Portfolio Management Category Leaders Q3 2018

GetApp's quarterly ranking showcases the leading 10-15 Project Portfolio Management apps based in the cloud. Each app is scored using five factors, worth 20 points each, for a total possible score out of 100. These factors include user reviews, integrations, mobile app availability, functionality, and security. Each app's score is independent of commercial interests and existing relationships that GetApp has with app vendors.

Scroll down for more details about inclusion criteria and scoring.

ReviewsIntegrationsMobileFunctionalitySecurity

What is Category Leaders?

GetApp's Category Leaders graphic identifies leading cloud-based software products in the Project Portfolio Management software category. If you’re a business owner or decision maker who is evaluating Project Portfolio Management technology options for your company, Category Leaders is for you.

The ranking highlights key factors that small businesses should consider when assessing which software products may be right for them. These factors include user perception (“user reviews”), compatibility with other systems (“integrations”), mobile offerings (“mobile”), technical capabilities (“functionality”), and product security (“security”).

To create each Category Leaders ranking, our research team typically evaluates hundreds of products in any one category. The 10-15 with the highest scores become Category Leaders.

What makes a product eligible for Category Leaders?

Category Leaders is focused on the North American Project Portfolio Management software market. To be eligible for inclusion, products must offer a core set of functionality, as determined by our research analysts, who provide coverage of and have familiarity with products in that market. Please see the “Functionality” section below for additional details on the core set of functionality we define for the Project Portfolio Management market.

Since Category Leaders is intended to cover the Project Portfolio Management market at large, individual analysts use their market experience and knowledge, existing market-based research, and small business software buyer needs analysis to assess an application's suitability for a given category depending on whether it can reasonably be expected to be relevant to most small business buyers across industries searching for a system with a strong focus on Project Portfolio Management capabilities.

In addition, a product must have at least 20 unique user-submitted product reviews across the three Gartner Digital Markets web properties: softwareadvice.com, capterra.com, and getapp.com, and those reviews must be published within 18 months of the start of the analysis period. The analysis period for the Q3 2018 Category Leaders update is December 22, 2016 to June 22, 2018.

How are the scores calculated?

An app's score is calculated using five unique data points, each scored out of 20, resulting in a total score out of 100. The ranking and scoring methodology ensure complete impartiality and independence from any relationships that GetApp has with app vendors.

User Reviews

Review scores are calculated using weighted reviews collected from GetApp and its sister sites, Software Advice and Capterra. This score is based on average user ratings (on a scale from 1 to 5) of how satisfied users are with a product overall. The scoring includes ratings left within the previous 18-month period; ratings that are more recent are weighted more heavily.

The methodology calculates the percentile ranking for each product relative to all other products in the software category that have qualified for inclusion. That percentile ranking is then translated into a 1 to 20 score.

Integrations

Integration scores factor in a number of variables. Up to 16 points are awarded based on the number of integrations an app has. The first 10 points are awarded based on the number of integrations relative to the category average, while 4 points are awarded based on the number of integrations relative to the leaders in the category. An additional 5 points is awarded for an integration with Zapier, a widely used software integration platform, while an extra point is given for having an open API. The total possible score for integrations is 20 points.

Mobile Platforms

Mobile scores are calculated based on the availability of an iOS and Android app. Five points are awarded for the presence of each app, with an additional 10 points awarded for the number and average rating of reviews in both the App Store and Google Play. These review scores are calculated on a scale based on the category average for a maximum of 5 points per platform and an overall maximum score of 20.

If there isn't a native iOS or Android app, the product's website is assessed using Google's PageSpeed Insights to measure mobile usability. A score out of 100 is given, then scaled to a score out of 5 for a maximum of 5 points.

Functionality

Functionality scores are assigned based on a combination of two assessments: user ratings and functionality breadth data.

Fifty percent of the score is based on average user ratings on a scale from 1 to 5 of how satisfied users are with the product’s functionality. The scoring includes ratings left within the previous 18-month period; ratings that are more recent are weighted more heavily.

The methodology calculates the percentile ranking for each product relative to all other products in the software category that have qualified for inclusion. That percentile ranking is then translated into a 1 to 10 score.

The other 50% of the score is based on a functionality assessment of the product. For each software category, our research analysts define a core set of features that a product must offer, as well as additional “nice-to-have” common and optional features. For the Project Portfolio Management category, we identify the following set of features:

  • Core features: resource management, risk management, project management, dashboard, collaboration, project reporting, and budgeting and forecasting.

  • Common features (at least two of the following): project evaluation, roadmapping, customization, Gantt charts, idea management, and support for various project management methods.

  • Optional features: kanban boards, issue tracking, native iOS/Android apps, and user-level permissions.

Products are assessed according to how many of those pre-defined features they offer, and products with more features receive a higher score. We use this data to calculate a product's percentile ranking, which allows us to determine how products compare relative to one another rather than determine an absolute number.

All told, a vendor can receive up to 10 points based on user ratings and up to 10 points based on the features assessment for a total maximum score of 20 for “functionality.”

Security

Security scoring is calculated using answers from a vendor-completed survey. The questions in the survey are based on the Cloud Security Alliance self-assessment form as part of the Security, Trust & Assurance Registry, supplemented by the expertise of our security research experts. Each answer in the 16-question survey is assigned a point value. The scoring then calculates the percentile ranking for each product relative to all other products in the software category that have qualified for Category Leaders consideration. That percentile ranking is then translated into a 1 to 20 score.

In the event of a tie, each data point is weighted for importance, with security taking precedent, followed by reviews, integrations, mobile apps, and functionality, respectively.

External Usage Guidelines

Providers must abide by the Category Leaders External Usage Guidelines when referencing Category Leaders content. Except in digital media with character limitations, the following disclaimer MUST appear with any/all Category Leaders reference(s) and graphic use:

GetApp Category Leaders constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, GetApp or its affiliates.