Best Project Portfolio Management Software of 2023

Challenge portfolio administration software program differs from undertaking administration software program in that the previous has to supervise many tasks whereas the latter solely entails one undertaking. That’s going to require particular undertaking portfolio administration instruments that may handle all these tasks directly.

To know which is the most effective undertaking portfolio administration software program on your group, let’s first checklist the must-have undertaking portfolio administration instruments and why they’re so necessary. Then we’ll rank the highest 10 undertaking portfolio administration software program merchandise, detailing every.

What Options Make the Finest Challenge Portfolio Administration Software program?

Challenge portfolio administration (PPM) isn’t drastically completely different from undertaking administration. They share most of the identical instruments, solely instruments for a undertaking portfolio administration software program need to work throughout many tasks. They need to have a centralized repository to seize paperwork associated to the tasks to make sure all tasks are working collectively to satisfy the objectives and aims of the group.

Naturally, the undertaking portfolio administration instruments needs to be easy to make use of, with a practical interface. A collaborative platform can be important. Communication is vital in managing one undertaking and exponentially so when managing many. You’ll wish to search for instruments that may visualize the tasks and assist you to arrange them, corresponding to roadmaps; these are just like a Gantt chart however with each undertaking within the portfolio proven from begin to end.

Then there’s monitoring. You’ll need sturdy reporting and analytics. Reporting ought to be capable of provide you with a portfolio standing report that may be shared with executives and different stakeholders to maintain them up to date on progress. However you’ll additionally wish to have a undertaking portfolio administration instrument with a portfolio dashboard for a high-level view of the undertaking’s progress and efficiency. That’s only a few of the fundamentals. Let’s see which functions have the suitable instruments and options on the proper worth.

2023 Finest Challenge Portfolio Administration Software program Rankings

Now, we’ll look over the ten finest undertaking portfolio administration software program and see the place they excel and the place they’re missing in undertaking portfolio administration instruments. The checklist begins with the most effective and strikes all the way down to our least favorites of the group. All are first rate undertaking portfolio administration software program merchandise, however just one will be the most effective.

1. ProjectManager

• Finest undertaking portfolio administration software program for sturdy PPM instruments
• Highly effective portfolio standing studies, dashboards and roadmaps
• Versatile and collaborative instrument

ProjectManager is undertaking portfolio administration software program that checks all of the bins, which is why it leads our best-of checklist. It permits customers to group and arrange all their tasks, whereas managing sources throughout these tasks and gathering insightful studies to make higher selections. This on-line software program delivers stay updates to assist monitor progress and efficiency in actual time so portfolio managers can reply shortly to maintain their tasks on monitor with a versatile and collaborative platform.

Group and Monitor Tasks With Portfolio Instruments

One of many issues we first seen was the portfolio options that enable customers to maintain monitor of all of the tasks they’re managing whereas capturing priceless data that informs portfolio managers on find out how to finest allocate sources. You’ll be able to arrange your tasks by placing them into folders and highlighting these which might be of high concern in order that they’re all the time entrance and heart. You can too filter the undertaking data with filters to see solely the information you’re keen on. For a high-level overview of your portfolio, the software program has a stay dashboard that captures six metrics, together with time, value, and so on. In contrast to others on this checklist, no time-consuming setup is required. You simply toggle over everytime you wish to get an summary of your portfolio. There’s additionally customizable reporting, corresponding to portfolio standing studies, that may be filtered to focus on standing, buyer and extra.

Handle Portfolio Assets With Roadmaps

One of the spectacular undertaking portfolio administration (PPM) instruments that ProjectManager has is its highly effective and intuitive PPM roadmaps, which give customers an summary of all of the tasks of their portfolio in a single place. The roadmap has resource management features in addition to time monitoring and process administration. It may be filtered by assignee, undertaking supervisor or prospects to assist portfolio managers make higher forecasts. It’s simple to see which tasks are open and the crew members who’re assigned to duties in these tasks. Key metrics will be highlighted to maintain stakeholders up to date. By way of human sources, there’s a color-coded workload chart that makes it simple to see what number of duties every crew member has throughout the portfolio. You’ll be able to then reallocate your sources from the chart to steadiness their workload and hold groups working at capability and productive.

These undertaking portfolio administration instruments make ProjectManager the most effective undertaking portfolio administration software program on our checklist. Add its sturdy danger administration options, workload automation, with process approval settings, and integrations and the software program is an ideal match for managing your portfolio, program or undertaking. Get started with ProjectManager today for free.

Pricing

• Crew plan: $13 consumer/month
• Marketing strategy: $24 consumer/month

Fast Details

• ProjectManager affords a free 30-day trial
• ProjectManager has a cellular undertaking portfolio administration app for Android and iOS

2. Microsoft Challenge

• Finest undertaking portfolio administration software program for Microsoft customers
• Centralized useful resource administration
• Enterprise-wide collaboration

Microsoft Project is undertaking portfolio administration software program underneath the identify of Microsoft PPM, which has a central server that works with Microsoft Challenge Skilled Consumer and its Challenge Internet app. It helps collaboration, centralized information storage and useful resource administration. It’s additionally helpful for these utilizing the opposite suite of MS apps because it integrates seamlessly with them. Different options embody scheduling, value administration, workflow and studies.

Like most of the undertaking administration options supplied by Microsoft, this one can be advanced and time-consuming to study. It’ll take effort and time to get the undertaking portfolio administration instrument to work successfully. Then there’s the expense, which may stifle smaller groups, but additionally add up with bigger ones to make it inadvisable. Oddly, the undertaking portfolio administration software program isn’t all the time appropriate with different variations of the product or different instruments that crew members is likely to be utilizing. It’s merely not a great match for smaller tasks and would possibly turn out to be too excessive a hurdle for bigger ones to clear.

Pricing

• Challenge Plan 1: $10 consumer/month
• Challenge Plan 3: $30 consumer/month
• Challenge Plan 5: $5 consumer/month

Fast Details

• Microsoft Challenge has a 30-day free trial
• Microsoft Challenge doesn’t have a cellular undertaking portfolio administration app

3. Planview

• Finest undertaking portfolio administration software program for worth stream administration
• Automates product improvement
• One supply of reality

Planview is undertaking portfolio administration software program that may automate the gated product improvement course of, cut back prices and mitigate dangers. It doesn’t require handbook information gathering however has a single supply of reality and reporting options for govt visibility and extra insightful decision-making. It helps customers align their portfolio with their group’s technique, model and extra. It’s a really product-oriented undertaking portfolio administration instrument that captures the voice of the client to drive new product innovation.

Whereas there are lots of options, the instruments will be overwhelming for customers, who’ve complained of complexity and a cluttered workspace. That isn’t a deal-breaker, however it does imply that potential prospects should think about the massive quantity of effort and time required to get acquainted with the instrument sufficient for it to make sense for his or her portfolio. Whereas it doesn’t make customers collect information manually, there’s lots of information entry to get began. That mixed with the pricing can result in an enormous upfront funding that may bitter customers from even getting began with Planview, particularly since there are various different options that don’t have these points.

Pricing

• Contact Planview for pricing construction

Fast Details

• Planview has a 30-day free trial
• Planview has a cellular undertaking portfolio administration app for Android and iOS

4. Zoho Tasks

• Finest low-cost undertaking portfolio administration software program
• Challenge checklist view
• Dashboard and reporting options

Zoho Projects is a comparatively cheap undertaking portfolio administration software program that has varied methods of monitoring the progress of the tasks in a portfolio. It does this based mostly on particular person shoppers. For instance, there’s a undertaking checklist view that exhibits all of the tasks, which may then be seen by shopper, title, p.c full, standing, price range, time logs and extra. Extra undertaking portfolio administration instruments embody its dashboard and shopper report that outlines time logs and budgets for every undertaking.

Possibly it’s due to its low worth level, however customers have complained concerning the poor help supplies to assist them get began with the undertaking portfolio administration software program. Buyer help can be missing. You’re simply not going to get a lot hand-holding at this worth. That’s an issue as a result of Zoho Tasks isn’t the only undertaking portfolio administration software program in the marketplace. It’s a bit complicated as a result of it’s unnecessarily advanced, which makes the weak customer support all of the extra of a disgrace.

Pricing

• Premium: $5 consumer/month, as much as 50 customers
• Enterprise: $10 consumer/month, limitless customers

Fast Details

• Zoho Tasks has a 10-day free trial
• Zoho Tasks has a cellular undertaking portfolio administration app for Android and iOS

5. Smartsheet

• Finest undertaking portfolio administration software program for undertaking templates
• Information evaluation and automatic reporting
• A number of integrations

Smartsheet is undertaking portfolio administration software program that has information evaluation and automatic reporting to assist customers prioritize, determine trade-offs and make extra knowledgeable selections. It affords real-time visibility and information triage so as to add worth and implement tasks shortly. There are additionally integrations with standard third-party apps corresponding to Google, Microsoft and Slack. It has collaborative options and standardizes processes for consistency in planning and execution. Among the best advantages is its giant library of templates, from strategic planning to useful resource administration.

Like most of the undertaking portfolio administration instruments ranked right here, Smartsheet is sophisticated, particularly for rookies. It’ll take them some time to get their sea legs. However what do you count on from a undertaking portfolio administration instrument that designs itself after the notoriously irritating spreadsheet? One other stumbling block on the way in which to buying Smartsheet is its pricing construction. For instance, its Professional plan may appear inexpensive till you notice there’s a minimal and most consumer rely. You’ll doubtless need to improve to the marketing strategy, which is nearly 4 occasions as costly.

Pricing

• Professional: $9 consumer/month, a minimal of three and as much as 10 customers
• Enterprise: $32 consumer/month, minimal three customers

Fast Details

• Smartsheet has a 30-day free trial
• Smartsheet has a cellular undertaking portfolio administration app for Android and iOS

6. Wrike

• Finest undertaking portfolio administration software program for integrations
• Actual-time PPM instrument
• Process administration options

Wrike is undertaking portfolio administration software program that helps you optimize your tasks with real-time PPM options, which assist with forecasting and collaboration to interrupt down silos and cut back portfolio danger by offering a transparent view of deadlines, obtainable sources and extra. Wrike has many templates to get you began and integrations to attach you with different apps that you just is likely to be utilizing together with your undertaking portfolio administration instruments. There are additionally process administration options that automate processes, dashboards and reporting options to be sure you’re on monitor.

A minor drawback of this undertaking portfolio administration instrument is that it has no note-taking perform. Extra of an issue is the expense, the extra options you need (and want for portfolio administration), the upper the value. Whereas there are various integrations related to Wrike, the notifications are sometimes delayed, which defeats lots of the explanations for having third-party apps built-in into the undertaking portfolio administration software program. The default filter must be modified manually to view all duties, which is irritating, as is the shortage of chat. The workload and availability of sources additionally want work. It’s not complete sufficient or consolidated.

Pricing

• Skilled plan: $9.80 consumer/month, 2-25 customers
• Marketing strategy: $24.80 consumer/month, 5-200 customers

Fast Details

• Wrike has a 14-day free trial
• Wrike has a cellular undertaking portfolio administration app for Android and iOS

7. Monday.com

• Finest undertaking portfolio administration software program for workflow administration
• Makes use of templates for PPM
• Scoring and rating options

Monday.com is undertaking portfolio administration software program that requires you to construct a platform with the suitable templates. However when you get that began, you need to use the workload view and its useful resource administration template to determine sources which might be allotted to your tasks and be sure you have sufficient to get the work carried out in a well timed method. There are scoring and rating to know the tasks that ship the best advantages and least quantity of danger. Dashboards may measure undertaking alignment and efficiency.

As with different merchandise on this finest undertaking portfolio administration software program checklist, Monday.com has complicated pricing. There are consumer minimums that make the pricing seem extra affordable than it really is. You’ll be able to’t even test it out, actually, because the free trial is simply 14 days. Then there’s the most effective options which might be hidden behind a better tier pricing plan, corresponding to time monitoring. You must have a Professional subscription for that, which provides extra money to the value tag. Monday.com is engaging, however portfolio managers care little about seems and extra about what the software program can do.

Pricing

• Primary: $30/month, minimal of three customers
• Customary: $36/month, minimal of three customers
• Professional: $60/month, minimal of three customers

Fast Details

• Monday.com has a 14-day free trial
• Monday.com has a cellular undertaking portfolio administration app for Android and iOS

8. Kantata

• Finest undertaking portfolio administration software program for useful resource administration
• Time-tracking options
• Has timecards

Kantata is undertaking portfolio administration software program that helps you handle all of your tasks and sources. Challenge portfolio data is collected in a single place so customers can examine the standing of duties and deliverables, prioritize and align sources and regulate their schedule and price range. There are time administration options corresponding to timecards, monitoring of billable and non-billable hours and monitoring of time, bills and prices.

One downside customers will face is that there are few choices for personalisation. Whereas there’s a cellular app, it’s not probably the most intuitive to make use of. It’s all the time a priority when costs aren’t outlined on the product’s web site. The customized pricing supplied by Kantata is pricey, particularly in the event you’re a smaller enterprise. Plus, there are annual upkeep charges that can push many customers away. One other strike in opposition to it’s how advanced it’s to make use of. Meaning placing in lots of time simply to learn to use the undertaking portfolio administration software program, together with coaching, which prevents customers from getting began shortly.

Pricing

• Enter your organization data to see customized pricing

Fast Details

• Kantata doesn’t supply a free trial
• Kantata doesn’t supply a cellular undertaking portfolio administration app

9. Workfront

• Finest undertaking portfolio administration software program for situation planning
• Workflow administration
• Portfolio overview

Workfront is undertaking portfolio administration software program that has situation planning, a portfolio overview, reporting and useful resource administration options. It’s simple to determine all of the tasks in a portfolio and see the influence every undertaking has on sources, prices and income. Workfront has undertaking portfolio administration instruments that assist customers to make extra knowledgeable strategic selections when prioritizing, choosing or eradicating tasks from their portfolio. It additionally has workflow administration capabilities that may tackle a portfolio of tasks.

It’d be good if Workfront was simpler to make use of. Its interface isn’t user-friendly and it doesn’t have a dependable offline mode. That complexity makes organizing all of your tasks tougher than it needs to be. Customers advisable it just for very skilled portfolio managers. That is going to place a wall between Workfront and customers in small-to-medium-sized organizations who wish to handle easier portfolios, however it’s higher fitted to enterprise-level work. Additionally, those that wish to do their work on the go will discover that the cellular model of the product isn’t all it may very well be. Customers say there are points with it. You would possibly wish to look elsewhere.

Pricing

• Enterprise, enterprise and professional license sorts obtainable, pricing upon request

Fast Details

• Workfront doesn’t supply a free trial
• Workfront affords a undertaking portfolio administration app for each Android and iOS

10. Readability PPM

• Finest undertaking portfolio administration software program for strategic roadmaps
• Monetary and budgeting administration
• For medium-to-large enterprises

Clarity PPM is undertaking portfolio administration software program with monetary administration, budgeting, time-tracking and reporting options. It’s utilized by medium-to-large enterprises, particularly these in search of monetary evaluation instruments. It has forecasting for sources, undertaking, program and portfolio administration, with a number of real-time studies for better insights.

Some customers complained about its timesheets having complicated UI and that the monetary reporting on which it prides itself might use enchancment. Whereas the pricing isn’t shared on the positioning, customers have complained of the associated fee, which will be within the lots of of 1000’s of {dollars}. However this can be a undertaking that’s made for bigger firms with deep pockets. Of all of the merchandise on our checklist of undertaking portfolio administration software program merchandise, this stands alone as the most costly and centered on greater enterprise prospects.

Pricing

Fast Details

• Readability PPM doesn’t supply a free trial
• Readability PPM has a undertaking portfolio administration app for Android and iOS

Which Challenge Portfolio Administration Software program Is Proper For You?

The choice is yours. We’ve chosen 10 of the most effective undertaking portfolio administration instruments and rated them, each when it comes to how they succeed and the place they fall brief. Of all of the merchandise we examined, ProjectManager is the clear winner. It hits all of the candy spots when it comes to options, worth and consumer expertise. Use it to handle your portfolio, whether or not huge, small or in between.

ProjectManager is award-winning undertaking portfolio administration software program that provides portfolio managers the instruments they should plan, handle and monitor their portfolios in actual time. With roadmaps, Gantt charts, kanban boards, checklist and calendar views, it has a number of undertaking views to offer everybody on the crew the instruments they need. Plus, managers get portfolio dashboards, workload charts and studies to collect priceless information to higher allocate sources. Get started with ProjectManager today for free.