Top 18 Project Portfolio Management Software (Jun 2024)

Project Portfolio Management Buyer's Guide

Overview

Project Portfolio Management (PPM) software is a category of tools designed to help businesses effectively manage and prioritize their projects and portfolios. PPM software provides a centralized platform for planning, monitoring, and executing projects, allowing organizations to optimize resource allocation, track progress, and make informed decisions based on data-driven insights.

Why businesses need it

Businesses need PPM software to streamline project management processes, improve collaboration among teams, align projects with strategic objectives, and maximize the return on investment. By using PPM software, organizations can prioritize projects based on their impact on business goals, allocate resources efficiently, and ensure that projects are completed on time and within budget.

Main Features

The main features of PPM software include project planning and scheduling, resource management, budget tracking, risk management, portfolio analysis, reporting and analytics, and integration with other business systems such as CRM and ERP software.

Main business processes the software apps can help with

PPM software can help businesses with project initiation, planning, execution, monitoring and controlling, and closing. It can also assist with portfolio management, strategic planning, resource allocation, risk management, and stakeholder communication.

Steps on how to buy this software

When buying PPM software, businesses should first assess their current project management processes and identify their specific needs and requirements. They should then research different PPM software vendors, request demos and free trials, evaluate the software based on criteria such as ease of use, scalability, and integration capabilities, and select the solution that best fits their needs and budget.

Things to consider

When choosing PPM software, businesses should consider factors such as the scalability of the software, customization options, ease of integration with existing systems, user adoption and training requirements, customer support and service level agreements, pricing and licensing models, and the vendors reputation and track record.

Most popular vendors and their market share

The most popular vendors in the PPM software category include Microsoft Project, Oracle Primavera, Planview, Workfront, and Smartsheet. According to recent market research, Microsoft Project holds the largest market share in the PPM software category, followed by Oracle Primavera and Planview.

Trends and next steps about this category

Some of the key trends in the PPM software category include the growing adoption of cloud-based PPM solutions, the integration of artificial intelligence and machine learning capabilities for predictive analytics, and the emphasis on collaboration and communication tools to support remote and distributed teams. In the future, we can expect to see further advancements in automation, real-time reporting, and agile project management practices within PPM software.

10 questions to ask software vendors during a demo

1. Can the software accommodate different project management methodologies such as Agile and Waterfall?
2. How does the software handle resource management and allocation?
3. What reporting and analytics capabilities does the software offer?
4. Does the software integrate with other business systems such as CRM, ERP, and collaboration tools?
5. What level of customization is possible with the software?
6. How does the software support collaboration and communication among project teams?
7. What security measures are in place to protect sensitive project data?
8. What training and support options are available for users?
9. Can the software scale to meet the needs of a growing business?
10. What pricing and licensing options are available?

Head to head Project Portfolio Management software leaders comparisons:

List of Project Portfolio Management Software:

Project Management Software Price Range

Project management products pricing are divided into three tiers. The prices range between $0 to $7, $7 to $10, and $10 upwards. In addition to this, the prices are set on a "per user, per month" basis or a bulk "per month" basis. However, it is worth noting that these price ranges are mostly for the lower offering found on each vendor website.

Enterprise plans on project management software have more robust features; thus, they cost more but are adjusted to suit each organization based on their number of employees; as a result, their prices are mostly made available upon request. For instance, Asana basic plan costs ₦11, Miro costs $10, and Toggl pricing falls around $8— all per user per month; but their prices for their enterprise plan quotes are not made available.

In addition, project management prices are set based on the size of an organization. Their ranges are as follows:

• Small Businesses can expect to pay around $5 per user for the basic plan of a project management software. However, small businesses with a very tiny workforce can get many project management products for free because they have free versions that allow between 2-5 employee sizes. Examples of these vendors offering free versions for a small employee size are Candy, Lumeer, and Quire. Some premium project management for small businesses are MetaTask, which starts at $6 per month, FreedCamp pricing starts at $1.50 per month, and Tracked for BaseCamp cost around $3 per month.
• Medium Businesses can expect to pay between $5 to $25 for project management software, depending on the package type and their number of employees. Todo.Vu costs around $9 per user, per month, Studio Organizer pricing starts at $19.50, and Lumeer costs around $8.
• Large Businesses can expect to pay less than medium-sized businesses for standard project management packages because their workforce is larger. However, prices for enterprise plans cost more. For example, Agile CRM costs around $80 per month, JotForm pricing is around $100 per month, and Kanbanchi $40 per month.

The price ranges for project management best of breeds are as follows:

• Collaboration Software Most of the collaboration tools in the market are priced per month and per user, and their pricings are usually divided into three tiers, which range from $0 to $4, $4 to $16, and $16 upward, respectively. However, these are the entry-level plans; premium and enterprise plans cost more depending on the vendors. An example is Pobuca Connect, which costs $2 monthly per user for its standard plan and $8 monthly per user for its enterprise plan. Others are Loop email, which costs at $8 monthly per user; HeySpace pricing starts at $4 monthly per user.
• Time Tracking Software Vendors of most time tracking software charge on a per user, per month basis, and the prices are divided into three tiers; they range from $0 to $3, $3 to $9, and $9 and above. Note that these are prices for the entry-level plans. For instance, Time Doctor pricing starts from $5 per month, TimeCamp pricing from around $6 per month, and Elorus costs up to $9 per month.
• Workflow Management Software Like other products related to project management, workflow management software are usually priced on a per-user, per-month basis, and the prices range from $0 to $13 and above. For example, Forms on Fire pricing starts from $20 monthly per user, Formstacks Form starts from $19 monthly, and KissFlow Digital Workplace from $360 per month for 30 users.
• Time & Expense Software Time and expense products in the market have pricings that range from $2 and $11 upwards, depending on the type of plan and number of users. Examples are EverHour, which starts from $5 monthly per user, Microsoft Dynamics GP costs for less than $1, and WorkTime Professional pricing starts from around $12 per month.
• Professional Services Automation Software Users can expect to be charged per month for most products in this category. The prices can be divided into three sections, and they range from $3 to $50 and above. For example, TigerPaw Software pricing is priced around $80 per user, per month, Business VoiceEdge costs around $30 per month, and Coaches Console pricing is around $150 per month.