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.
GetApp's quarterly ranking showcases the top 25 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, media presence, 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 how we calculate scores.
GetApp's Category Leader ranking is for business owners and decision makers looking for a comprehensive list of the leading cloud-based software products in the industry.
The ranking serves as a point of reference highlighting key factors that small businesses should look at when assessing a piece of software. These factors include user perception (reviews), compatibility (integrations and mobile compatibility), market presence (media presence), and security features (security).
An app's score is calculated using five unique data points, each scored out of 20, giving 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.
Review scores are calculated using reviews collected from GetApp and its sister sites, Software Advice and Capterra. Scores are calculated based on the total number, average rating, and recency of reviews.
The number of reviews and average user rating are scaled against the category average. A weighting is then applied to reward recency of user reviews: reviews written in the last 6 months score up to 10 points, those written between 6 and 12 months ago score up to 6 points, and those more than 12 months old score up to 4 points. These numbers are added together to give a total maximum score of 20.
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 scores are calculated based on the availability of an iOS and Android app. 5 points are awarded for the presence of each app, with an additional 10 points being awarded for the number and average rating of reviews in both the App Store and Google Play. These review scores are calculated and scaled against the competition 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. The score is returned out of 100, then scaled to a score out of 5 for a maximum of 5 points.
Media presence is calculated using the number of Twitter followers and Facebook fans that an app has. The number of fans and followers are added together, and each app is scored based on this overall number, compared with others in the category. The first 15 points are awarded for the combined number of followers and fans scaled against the category average, while the final 5 points are awarded for the combined number of followers and fans scaled against the top leaders in the category. These two scores are added together for a total out of 20 points.
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. With 15 questions, each answer is assigned a point value based on vendor response, with additional points given for security certifications, for a maximum possible score of 20.
In the event of a tie, each data point is weighted for importance, with security taking precedent, followed by reviews, integrations, mobile apps, and media presence, respectively.
*All data points combining calculations for both ratings and reviews are calculated using a Bayesian estimate, which is a weighted average that includes the number of reviews and the rating of an app, benchmarked against others in the category.