Guide to PPM Software
Project Portfolio Management (PPM) software can be an invaluable tool for managing complex projects and portfolios. With so many options available in the market, it can be challenging to choose the right PPM software for your organisation. This guide will help you navigate what to look for when selecting PPM software.
What to Look for in PPM Software?
All-in-one software solutions are essential because they provide a comprehensive platform that streamlines project management processes, provide real-time data and insights, and include collaboration tools to improve team communication and productivity. By using an all-in-one solution, not only is the environment and experience simplified for users, but training costs are also reduced, as are the number of vendors you have, because one tool does it all. These solutions help to increase efficiency, reduce errors and redundancies, improving overall project outcomes and ensuring that projects are delivered on-time, within budget, and to the required standard
Features and functionality
An obvious one of course, but PPM software should provide features and functionality for effective project portfolio management. The primary purpose of a software solution for PPM isn’t to add another layer to management that’s full of admin, it should be a tool that makes your life easier. Look for software that can help manage project timelines, resources, budgets, risks, issues and resources effectively, helping you to configure the best approaches for project success. Aside from helping to organise the project plan, it should also allow you to clearly track the progress and equip you with the data needed to make better business decisions.
PPM software should be able to integrate with other software tools and systems. This can help project managers get a holistic view of the entire organisation and better manage resources across projects and various teams. Integrations save valuable time as there’s less duplication of work and no need to manually chase updates or data, information flows through tools providing value to platforms. By integrating with software that your organisation is already using, adoption from team members is a lot easier, and saves lots of time from manual inputting.
Ease of use
PPM software should be easy to use and navigate for all users, including project managers, team members, and stakeholders. Look for software that has a clean and intuitive interface, with customisable dashboards and reports. An easy-to-use software solution aids adoption during roll-out, and also adds value to all who use it. On top of a great software being easy to use because its intuitive, it should also be easy to use because it isn’t overpopulated with data that isn’t relevant to the user. Regardless of a simple system or a complex one, you don’t want to have to dig through heaps of data to find what you need.
Your chosen software should be scalable to accommodate growth and changes. There’s nothing worse than implementing a new software, rolling it out and getting everyone to use it, only for it to fall short as your output grows and your original investment becomes worthless. The software should be able to manage projects portfolios of varying sizes and complexity levels by growing alongside you. The perfect software would be not overly complex for smaller companies, yet rich in functionality for large ones, ideal for whatever stage your organisation is at.
Security and data privacy
Security is a must! All your data is important and highly confidential, so your PPM software should have robust security and data privacy measures in place to protect your information. Backing up all your data shouldn’t be forgotten either.
You need to be able to access your PPM software from wherever you are. Cloud based software can be accessed from anywhere with an internet connection, particularly important of course with remote working teams. A great PPM software also shouldn’t be slower or less responsive just because you’re using it with a different device, tablets and laptops should be just fine.
Why PPM Software is important
This might sound obvious, but it’s important to understand why a simple task management tool wouldn’t work as well for PPM. PPM software is a powerful tool that can help project managers and organisations to align their projects with organisational goals and strategy. It also helps to prioritise and allocate resources, monitor project progress and performance, mitigate risks and resolve issues, and improve communication and collaboration among project teams and stakeholders. By using real-time project and portfolio insights, PPM software enables data-driven decisions to be made. This is always helpful, but especially so for PMO’s as it ensures compliance with regulations and standards and enables the organisation to deliver projects that meet the required standards, while remaining on-time and within budget.
Project Management Software vs PPM Software
Project management software is designed to manage individual projects, such as task management, scheduling, and collaboration tools. It proves to be somewhat lightweight for organisations that have multiple and complex projects to manage and can very quickly become unfit for purpose. PPM software, on the other hand, is designed to manage project portfolios, providing a top down view of the organisation's projects and resources.
When is PPM Software more appropriate than Project Management Software?
PPM software is more appropriate than project management software when an organisation needs to manage projects portfolios across different departments and locations. PPM software provides a centralised view of all projects, resources, and portfolios, enabling project managers and stakeholders to allocate resource and prioritise projects based on organisational goals and strategy.
Why Fluid is the PPM Software of choice
Fluid is the best PPM software because it provides a comprehensive set of features and functionalities that can help manage projects portfolios efficiently and effectively. As an all-in-one solution, you have a centralised view of your project portfolio and all the data of each, with advanced features helping you to manage projects better. Its integration capabilities with other software tools and systems enable project managers to get a complete picture of the organisation's project portfolio, from resourcing and financials to general progress updates on key deliverables. Fluid is a cloud-based solution, providing accessibility from anywhere in the world, helping teams to collaborate more effectively for project success.
Book a demo to learn how Fluid can help your organisation deliver the right projects, at the right time.