Project Portfolio refers to the selection, management, comparison, planning, and handling of various types of projects under one label. Project managers are responsible for supervising cross-projects, at the same time, each of which is unique. Managers that handle projects are in charge of planning, organizing, and implementing the technologies needed to finish a given command.
Project portfolio and timeline handlers must be able to:
- Identify the goals associated with the project
- Do more than enough research on the topics.
- Make a list of all the due projects in the queue
- Select the upcoming project scale on which you the team will put efforts
- Select and distribute resources on demand and as per time.
PPM tools are those programmed, computerized, and software-based tools and technologies to interact, screen, plan, and even execute multiple portions of a big task at multiple times. In the market, we have multiple and diverse Project Assortment administration programs.
Workfront:
One of the robust workflow handling and supervision tools connects different project resources across the world. This software enables a person to balance various projects simultaneously and make workflow stable over time. Also, this tool is potentially utilized to supervise and lead the project’s current state leading to increased coordination among team members.
Planview:
Planview is referred to as Software as a service facility built to handle Project portfolios on a holistic level. This tool is known to manage a portfolio, tasks breakdown, expense provision, and timeframes. This tool enables PMs to build rational and fact-based decision-making by measuring the performance of the project cycle. Planview also enables the making of Project management Gantt Charts, managing lifecycle, and time tracking.
Primavera:
Primavera is also a portfolio management solution that is built for multi-scale businesses offering a wide variety of functionalities. Primavera is known to handle project resources like humans, teams, resources, and most importantly time allocated. It helps the teams in building sensible decisions hence minimizing the risk by measuring performances.
Clarizen:
Being a software as a service type tool Clarizen provides excellent work management, task efficiency tracker, and flow of task mechanization tool. Clarizen allows its users to share roadmaps, statements, current project state, and module views. The dashboard of Clarizen gives a clear sight to overall projects’ capacity even making future predictions and estimations based on data. Although this software is used by large enterprises that claim supreme usability and scalability of this software.
Acuity for Project portfolio
This software provides the overview in the form of a dashboard containing the current project stance, reports, performance management, and various resources allocation. This tool is so intuitive that it shows the strategic roadmap to the PMs and teams.
Bubble:
This portfolio management software is relatively user-friendly. And you can learn advanced functions in no time. It displays the information graphically which enables teams in managing requirements easily. Besides, it displays real-time reports that can be shared among teams and enterprises.
Celoxis:
Celoxis is referred to as a smart tool used to handle various projects at a time by large organizations. This software allows its users to chase projects cost, time, budget, and team efforts. Also, this tool is making teams help in screening different types of tasks handled at one time.
JIRA:
Jira portfolio is built to plot, consolidate, team up and monitor the advancement of the project. One of the amazing topographies of this PPM tool is its scalability and adaptability. Jira can be operated based on cloud services or on-premises storage basis. For small, medium, or large-sized enterprises this software provides excellent task management and planning of projects.
- Break down the work into tasks.
- Planning of resources
- Proactive planning of capacity management
- Projections, estimations, and overviews based on agile techniques
- Analyze the project-wise team performance and activity-based project monitoring.
- Set up a workflow with a free template
ASANA
Asana is a worldwide used project management application that runs through a web-based desktop software as well as a mobile application. Asana provides excellent team management and collaboration where managers and employees can coordinate efficiently. The dashboard and screen look provides easiness and excellent user experience to those who use Asana for their regular tasks.
Zoho Projects:
One of the most widely used cloud-centered project portfolio handling tools is Zoho. The simple interface allows the teams to work together seamlessly. Users can also view the information visually in the form of a Gantt chart. The unique perspective of using Zoho is the use of an excel type Gannt chart where you can measure the task and its schedule within minutes. And even these charts can be updated with the utmost facility. Also, Zoho comes at a very economic cost for small to medium-sized businesses.
Why has a project portfolio handling tool or as a portfolio manager?
PPM tools are must-haves for an organization catering to various projects at a time. However, for project managers, these tools are crucial because they help in managing the overall tasks and project-based performance management even remotely.
- Reduces errors and rough estimations
- Escalate the overall performance of any project
- Excellent management of cost and resources
- Multi-project handling in one interface
- Manage internal and external project risks
- Lifecycle management of the project
- Defining project roadmap
Last words:
For growing and sprouting businesses it is the utmost need of the time to balance between resources and projects. Productive and constructive handling of projects based on the priority, timeline, urgency, capacity, budget, and resource allocation is done with the help of intuitive and tech-savvy softwares. Multiple software to handle project portfolios either built in the business solutions or separately adapted helps businesses track their project-based performance. When planning to opt for a PPM programmed system for your organization then first of all assess your organization’s needs and project management guidelines. These tools are organizations’ necessities and help managers in optimizing profitability at a large scale.