Project Portfolio Management (PPM) software is a tool used by project managers and PMOs to manage multiple projects simultaneously. It provides a centralised view of all ongoing projects and resources, making it easier to prioritise and allocate resources effectively, as well as to make well-informed decisions.
When to use PPM software?
Essentially, PPM software should be used whenever you’re managing more than one project. PPM software is particularly useful for large organisations that have multiple departments, teams, and projects taking place at the same time. If your organisation has a PMO, PPM software is the best solution for effective project management. It enables project managers to track project progress, identify potential issues, and make informed decisions about resource allocation and project prioritisation, whilst keeping in mind the role it plays in your organisation’s strategic goals.
Benefits of PPM software
Using PPM software provides numerous advantages for project managers.
Streamline project management processes
PPM software helps standardise project management processes and provides a unified platform for collaboration and communication. This is useful for all organisations, but it’s particularly useful if you have a PMO as you would want to create standardised processes and governance across your portfolio.
Great PPM software (like Fluid) provides real-time data and insights, enabling project managers to make informed decisions about project priorities, resource allocation, and risk management. PPM software also helps teams to collaborate better, making communications more effective.
Optimise resource utilisation
Effective resource management is crucial to the success of a project! PPM software enables project managers to track resource utilisation across multiple projects, identify over or underutilisation, and allocate resources accordingly. Advanced and scalable PPM software platforms like Fluid also allow you to track financials of resources through timesheets, making it a lot easier to stay on track.
Ensure project alignment with organisational goals
PPM software enables project managers to align project goals with organisational objectives, ensuring that projects support the organisation's mission and strategy. Although this is useful for all project management teams, again it is imperative for PMOs. Good PPM software enables teams to optimize the entire lifecycle of a project from intake through to execution.
What PPM software should you use?
When it comes to using a PPM software for your organisation, you want a robust yet intuitive platform, that can scale with your business and can handle projects of all sizes and complexity. You want a platform that supports portfolio management and gives you a true holistic view or all the projects in progress. You really want just an all-in-one platform that can do everything. Basically, you want Fluid.
The intuitive interface of Fluid makes it easy to create and manage projects, set up project schedules, and monitor progress. An intuitive interface also means there’s a higher chance of your teams adopting the software, which makes it a lot easier to introduce (which Fluid helps you do too!).
An all-in-one solution saves you the hassle of multiple platforms handling different aspects of a project, and instead gives you a single dashboard to effectively manage a project in its entirety. Fluid includes features like resource allocation, budget management, and team collaboration, making it an all-in-one solution for project portfolio management. Fluid is designed to be moulded to fit your organisation perfectly, with plenty of ways to personalise the dashboards, templates and overall features to your way of working.
In addition to its robust feature set, Fluid provides enterprise-level security features, including data encryption, multi-factor authentication, and access controls, to protect sensitive project data.
Get in touch with us today to find out how Fluid can step your PPM game up.