Project portfolio management tools
Key takeaways
Choose PPM tools and techniques that match how your organisation actually works and its maturity.
- Assess PPM maturity first, because expensive all-in-one tools can be wasted if adoption is low.
- Individual, collaborative, and integrated tools suit different ways of working and levels of data sharing.
- Embedded PPM tools improve efficiency, compliance, and the timeliness and quality of decision-making data.
- Common toolsets cover strategy mapping, EPM, architecture, knowledge, performance, risk, and requirements.
- Use prioritisation and dashboards to direct resources to strategically aligned work and highlight exceptions fast.
Introduction
Selecting PPM tools and techniques
The PMO will normally select appropriate PPM tools and techniques. When doing so it is always best to consider the PPM maturity of the organisation. Tools can be expensive. Off-the-shelf packages doing everything can be tempting but can also be a waste of money if not used. It might be the case that a cheaper, simpler tool can be more effective than a more complex, more expensive tool.
Having said that, many PPM tools are built around best practices and unless the organisation has very specific requirements which require a custom-built solution, most package tools will be adequate for many organisations.
Different types of PPM tools
Tools can be deployed in a single office or distributed across the organisation. Tools can be used individually, collaboratively or in an integrated way. The PMO provides training on tools and can also provide specialist consultancy to projects, programmes, and portfolios for issues which arise from using PPM tools.
Individual tools
This is typically where a project manager uses a tool such as planning software or a spreadsheet on a single change initiative (programme or project). There might be several instances of the tool in use by different individuals. But each person uses it on a single change initiative.
Collaborative tools
This is where multiple people access a single set of data through a tool. There might be several instances of the tool across the organisation. Each change initiative will have multiple users collaborating through the tool.
Integrated tools
This is where many people can access multiple data sets spanning multiple change initiatives. There is usually a single instance of the tool and the ability of the tool to link data from multiple change initiatives. Enterprise project portfolio management software is an example of an integrated tool.
Benefits of PPM tools
If a project portfolio management tool gets embedded within an organisation there are several benefits:
- Increased efficiencies of PPM processes;
- Improved compliance with business processes;
- More timely data to support decision-making;
- Improved quality of decision-making information;
- Improved decision-making;
- Improved management across geography;
- Improved staff competence;
- Rationalization of legacy systems;
Therefore, if your organisation is considering implementation of a PPM toolset to support its project portfolio management or project management office (PMO) plans, then this list of benefits could be considered as part of a business case to fund the tool.
PPM tools
Tools to support portfolio, programme and are often chosen by the people responsible for managing the project management office (PMO), or enterprise PMO if it exists at the highest level within the organisation.
The tools authorised for use by the PMO might be as common as desktop productivity software such as spreadsheets, or slide decks. They can equally be extremely sophisticated and wide-ranging tools.
These are some of the collaborative and integrated toolsets available.
Strategic mapping software
These tools enable users to map programmes and projects to its resulting outputs, outcomes, benefits, and strategy.