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Project Portfolio Management Tools Evaluation

 

Project Portfolio Management is about more than running multiple projects. Each portfolio of projects needs to be assessed in terms of its business value and adherence to strategy using Project Portfolio Management Tools. The portfolio should be designed to achieve a defined business objective or benefit. Project Management Guru Bob Buttrick put it well when he said; "Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects."

 

While at individual project level it is important to know how each project is performing, the impact of each project on the portfolio is just as important. The following questions should be asked:

 

·         Does each project contribute to the overall achievement of the portfolio?

·         How well is each project performing?

·         Will any project have a negative impact on other projects to come?

·         What projects in the portfolio are dependent on others?

·         Will the successful delivery of all projects deliver the desired objective or benefit?

 

Project Portfolio Management Tools Evaluation Market: Project Portfolio Management Tools Market includes products that coordinate, manage, and prioritize project and program portfolios and related resources, linking them in a single repository with appropriate views to categorize, assess the value/risk of, and score current and future projects in the context of business imperatives (financials, resources, competitive position, etc.).

 

In addition to portfolio analysis (ability to view, categorize, and rank initiatives) and project management (scheduling, planning, and management), product capabilities should include a basic level of management and/or analysis for people (resource management), programs (enterprise program management - project inter-relationships to deliver on programs), and process (methodology and/or templates for project portfolio assessment).

 

Let’s see some more information about Project Portfolio Management Tools Evaluation growth rate is growing. The project portfolio management tool market currently totals around $450 million to $2 billion. The lower figure represents software licensing alone, while the higher figure also includes consulting, direct and related services, and training. We estimate the market is growing 40%-50% annually.

 

Project Portfolio Management Tools Evaluation Market Maturity: While the market continues to grow at a steady clip, numerous acquisitions have occurred as leading vendors seek to enhance native capabilities. We expect consolidation to continue during the next three years, reducing the total number of key players.

 

IT Spending Characteristics for Project Portfolio Management Tools Evaluation: Spending on PPfM solutions is still at the discretion of the organization; however, these solutions have proven their effectiveness in managing projects and resources more efficiently and providing executives with the ability to continuously adjust project portfolios.

 

Project Portfolio Management Tools Evaluation:

These tools are some of the market leaders in Project and Portfolio management.

 

·         Company: Artemis

·         Description: Amongst its products Artemis offers PortfolioDirector which provides a central repository capable of recording all investments, both current and proposed, which exist within a business. As change occurs, new investments may be proposed and the impacts of their addition to the portfolio may be modeled to understand the capacity impacts on funding and head-count. More details: http://www.artemispm.com

 

·         Company: Changepoint

·         Description: Changepoint provides graphical information that lets managers monitor a portfolio of projects in real time, with drill down capability. Through a customisable personal dashboard, management can receive the business critical information from any area of the business in a single integrated view. More details: http://www.changepoint.com

 

·         Company: Hydra

·         Description: Hydra is based upon distributed connected plans. Managers of projects, programmes and teams maintain plans at their own level of detail for their areas of responsibility. Hydra brings together the whole programme team by inter-linking projects. More details: http://www.pm-group.co.uk

 

·         Company: Planview

·         Description: Planview provides a scoreboard with a set of configurable project, service and resource indicators. Management can use this information to evaluate work and team members providing comparison and trend reports. More details: http://www.planview.com

 

·         Company: Primavera

·         Description: Amongst its products Primavera offers Expedition Project Center which provides a centralised view of all project information through a dashboard like workspace of graphical indicators that highlight project and programme performance. More details: http://www.primavera.com

 

·         Company: Niku

·         Description: Niku, with its Niku 6 product offer a broad range of functionality covering project management, portfolio management, resource management and financial management. This is a good tool for aligning resources with organisational objectives. More details: http://www.niku.com

 

·         Company: SAP

·         Description: mySAP Product Lifecycle Management (mySAP PLM) helps managers to plan, manage, and control the entire project development process, from initial idea to completion. More details: http://www.sap.com

When you, as a project manager, accept responsibility for a project, you accept the schedule, timeline, deadlines, resources, and expectations set out at the start. Now you can make sure you're asking the right questions for each project by utilizing the tools, checklists, and information from projectmanagementsurvival.

Now you can manage your risk project according to best practice standards. You'll have the details and plans in place to handle whatever arises during a project's duration—setting appropriate expectations for timelines, milestones, and deliverables. And, ensure success for each and every project with resources on:

  • Ensuring you have the necessary equipment and resources available
  • Properly documenting all project activities
  • Identifying staff skills by roles needed
  • Putting quality controls in place
  • Identifying and estimating indirect costs
  • Documenting and prioritizing requirements
  • And much more

Start and end each project on a positive note—order your Templates and Tool Kits for Project Managers today!

Explore the templates and toolkits HERE

  
   
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