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Project Portfolio Management Software

What is project portfolio management software.

Updated on June 7, 2023

Project portfolio management software  helps businesses manage risk analysis, budgeting, and resource allocation for project portfolios of all sizes. It automates the process of gathering data from multiple projects, analyzing the collected information, and using the results to streamline project planning, execution, and delivery across portfolios.

The software offers organizations a high-level overview of project progress and prioritization. It helps:

Identify potential returns on different projects

Facilitate seamless project communication and collaboration

Provide a complete picture of the status and profitability of various projects in a portfolio

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Table of Contents

The benefits of project portfolio management software

Typical features of project portfolio management software, the cost of project portfolio management software, considerations when purchasing project portfolio management software, relevant project portfolio management software trends.

Here’s a list of the various benefits offered by project portfolio management software:

Balanced resource allocation across portfolios:  The software offers the resource tracking feature, which provides a real-time view of how many members are working on project tasks and how many are available. This allows project managers to maintain optimal resource capacity by balancing resource allocation for short-term as well as long-term projects across portfolios.

Enhanced decision-making:  The software helps visualize project progress, so you can better plan timelines, resource and workload allocation, budgeting, etc. It also facilitates timely review of project performance, which lets you identify noncontributing projects in advance. This ensures the project decisions you make are aligned with company objectives.

Improved project success rate:  When planning project delivery timelines, the software takes into account factors such as resource capacity, estimated costs, expected turnaround time, and technical requirements. This reduces the chances of project failure and helps deliver projects on time.

Portfolio management:  Create risk-return project profiles, analyze potential returns, and ensure all projects in a portfolio are aligned with business goals.

Resource management:  Allocate resources to project portfolios based on skill requirements and availability.

Risk management:  Identify, evaluate, mitigate, and report on the risks associated with project execution.

Task management:  Create project tasks, assign them to team members, and track their completion status.

Project planning:  Create a project plan to organize and schedule tasks, set project goals, allocate resources, and manage employees and workload.

Budgeting:  Plan, allocate, forecast, and reorganize funds based on the needs of multiple projects in a portfolio.

Dashboard:  Track and visualize the progress of projects against criteria such as project budget, timeline, and milestones.

Most products in this market are priced on a “per user, per month” basis. Pricing can be divided into three tiers based on the  starting price .

Price ranges*:

*The pricing included in this list is for the entry-level/lowest-priced offering found on vendor websites on Jan. 6, 2021. These ranges correspond to the 25th, 75th, and 100th percentiles of pricing information gathered from vendor websites of sample products.

The above list summarizes pricing for the base plans of most products. An enterprise or premium product that is priced higher may include additional features such as advanced analytics, proofing and approvals, and timesheets.

Scalability:  When selecting a project portfolio management tool, take into account current as well as future project needs, i.e., the number of departments and users the software is expected to support not only now but also in the future. Software scalability will let you accommodate team expansions or the addition of stakeholders without making further investments in software upgrade.

Collaboration and communication needs:  The project portfolio management software you select should allow members from different teams to communicate with one another and participate in discussions. It should also allow external stakeholders to join the conversations, if required. 

Mobile accessibility:  Check if the software you’re planning to purchase offers mobile apps for iOS and Android devices, such as smartphones and tablets. A mobile app will let you manage project portfolios, track tasks, and shuffle resources, even when you’re on the go.

Cloud-based project portfolio management solutions are witnessing rapid growth : Businesses are increasingly adopting cloud-based project portfolio management solutions due to benefits such as greater level of scalability, lower cost of implementation, sharing of infrastructure among multiple users, and continuous development. These benefits are expected to further drive the growth of cloud-based solutions across business verticals.

Products evaluated for the pricing calculation were taken from  Capterra’s Top 20 Project Portfolio Management Report . The pricing ranges exclude freemium versions of the products. The features highlighted were identified based on their relevance and the percentage of products in  Capterra’s directory  that offer them.

1. The 4 Trends Shaking Up Project Portfolio Management  (Date accessed: Jan. 7, 2021)

2. Project Portfolio Management Market  (Date accessed: Jan. 13, 2021)

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10 Best Project Portfolio Management Software (PPM Tools) in 2024

Engineering Team

May 12, 2024

Despite your office inside jokes and water cooler talk, project portfolio management software is your project manager’s actual best friend.

No matter what project your company has taken on, created, or closed, your project portfolio management (PPM) software has seen it all—and remembers it!

With many of the same qualities as your favorite project management software , PPM tools forge a connection between strategy and implementation with features including dashboards, task management , multiple assignees, progress tracking, and more.

But does your business need PPM software to operate efficiently?

TBH, you probably do. If you’re in this boat, or if you’ve put complicated systems in place to perform the same function as PPM software—this article is for you.

We’ve researched, trialed, and tested the top PPM tools to bring you the 10 best on the market today, including detailed feature breakdowns, drawbacks, pricing, and more.

What is Project Portfolio Management Software?

  • 1. ClickUp 

2. Planview

4. easy projects, 5. microsoft project, 6. activecollab, 7. jira portfolio, 8. basecamp, 9. 4castplus.

Avatar of person using AI

Project portfolio management software is used to organize and manage a business’s entire record of projects with high-level analytics and reporting to monitor the success of its strategy implementation and ongoing performances.

ClickUp Milestones Dashboard View CTA

Think of the way photographers organize their prints in neat and strategically arranged photo albums—except PPM software is wildly more feature-rich, collaborative, and data-driven.

This tool might be used to approve or deny potential projects based on the insights it provides, and its success hinges on its ability to keep all ideas aligned with the company’s big-picture goals.

Especially if your business is growing fast or if you’re sitting on a gold mine of new ideas, PPM tools can be used to organize the chaos and prioritize the influx of new project ideas with ease using powerful task management features and data-backed strategies.

So while PPM software shares a selection of project management features as other types of tools, the differences lie in the power of its dashboards and reporting functionality.

The 10 Best Project Portfolio Management Tools

Reporting and analytics features are critical when it comes to finding the best PPM software, and it’s important to know just how far that functionality extends before you go all-in on just any tool!

The good news is, that’s what we’re here for. 🏆

Use this detailed comparison of the top project portfolio management tools to guide your search. We’ve done our homework to break down the top features, drawbacks, pricing, and ratings of each software to help you find the tool that best fits your team’s work style and processes.

1. ClickUp  

ClickUp Dashboard

ClickUp is an all-in-one productivity platform with hundreds of visualization tools to analyze project performance from a single workspace. You’ll have greater oversight into the progress of all projects and the ability to report on what’s been accomplished. This makes it easier for everyone involved to keep up with their individual roles and responsibilities while staying up to date on the latest developments!

The strategic and tactical side of project portfolio management is a group effort. With ClickUp, teams can achieve a high level of productivity and efficiency, allowing them to focus on tackling bigger challenges and succeed in delivering successful projects. ClickUp has the features you need and integrations with your favorite apps to keep track of everything. Get up and running in days, not weeks!

Check out ClickUp Dashboard examples to get started today.

ClickUp best features

  • Agile Dashboards to for a high-level overview of your project’s velocity, cumulative flow, lead and cycle time, and more
  • Risk management to assess how multiple projects perform against strategic objectives
  • 15+ customizable project views to adapt to Agile , Scrum , Kanban , or any project style
  • Fully transparent platform to align team members on goals, priorities, and time
  • Custom task statuses for instant progress updates at a glance
  • Multiple assignees on tasks for total transparency into all progress
  • Free and accessible help resources , webinars, and online support
  • A vast Template Library for every use case

ClickUp limitations

  • Not all views are available in the mobile app—yet
  • Its rich set of features can create a learning curve for some users

ClickUp pricing

  • Free Forever Plan
  • Unlimited Plan: $5/month per member
  • Business Plan: $12/month per member
  • Business Plus Plan: $19/month per member
  • Enterprise Plan: Contact Sales for pricing

ClickUp ratings and reviews

  • Capterra : 4.7/5 (3,500+ reviews)
  • G2 : 4.7/5 (5,400+reviews)

Planview project portfolio management software 

Planview is a software solution helping project managers with project portfolio management. It provides a convenient way to keep track of workloads, prioritize tasks , and monitor progress. The tool also has powerful analytics capabilities to better understand the dynamics of your projects, forecast potential issues, and make informed decisions.

Planview makes it easy to build comprehensive portfolio plans, so future projects are completed on time and on budget. With features like real-time reporting and flexible customization options, Planview gives project managers the tools they need to successfully manage their entire project portfolio. 

Planview best features

  • Project portfolio planning to rank portfolios based on priorities and drivers
  • Scenario analysis and project prioritization
  • Project intake and demand management 
  • Resource management and capacity planning

Planview limitations

  • Outdated interface compared to other project portfolio management software 
  • Lacks task management features 

Planview pricing

  • Contact Planview for pricing

Planview ratings and reviews

  • Capterra: 4.2/5 (170+ reviews)
  • G2: 4.2/5 (500+ reviews)

Celoxis project portfolio management software 

Celoxis is an enterprise-level project management software designed to help management analyze project performance. With its intuitive interface and powerful features, Celoxis ensures that project managers have all the tools they need to meet business objectives. 

Celoxis offers comprehensive portfolio monitoring capabilities to help managers keep a close eye on their work. The software allows users to quickly track costs and budgets across multiple projects, ensuring resources are efficiently allocated and costs are kept within budget. It also provides project scheduling capabilities to help managers plan projects in advance and identify potential problems before they arise. Additionally, advanced analytics allow managers to stay up-to-date with trends and developments. 

Celoxis best features

  • Project portfolio monitoring with deep dive capabilities
  • Resource management 
  • Custom workflow apps
  • Time tracking

Celoxis limitations

  • Limited scalability for complex programs and projects
  • 2GB file space per user on the Cloud plan

 Celoxis pricing

  • Cloud : $22.50/month for 5 users minimum
  • On Premise : Contact Celoxis for details

Celoxis ratings and reviews

  • Capterra: 4.4/5 (200+ reviews)
  • G2: 4.3/5 (60+ reviews)

Easy Projects project portfolio management software 

Easy Projects offers a range of features designed to streamline the entire project process, from initiation and planning to deployment and project closure . This software provides comprehensive visibility over all projects in progress, enabling project managers to stay on top of progress and deliver quality products on time and within budget. 

The platform allows users to set up automated workflows with multiple organizational stages and responsibilities. It helps teams break down projects into smaller subtasks, track progress through reports, and analyze KPIs (Key Performance Indicators) in real time. With its automated workflow system, teams don’t have to worry about tracking individual tasks and can focus instead on achieving strategic objectives. 

Easy Projects best features

  • Archiving tool to have a clearer view of programs and projects
  • One-click timeline adjustments to support project progress
  • Demand projection reports handling project needs
  • User, portfolio, and project data restrictions

Easy Projects limitations

  • Advanced functionality requires integrations with other applications 
  • Cross-project dependencies feature is available on Enterprise plans only

Easy Projects pricing

  • Team : Starts at $12.58/user per month
  • Enterprise : Contact Easy Projects for pricing

Easy Projects ratings and reviews

  • G2: 4.1/5 (200+ reviews)

Microsoft Project and portfolio management 

Microsoft Project is a project management software designed to help teams better manage projects and programs. It’s user-friendly and has powerful capabilities, allowing teams to plan, schedule, prioritize, monitor, and report on client projects.

This software is designed to optimize team collaboration and make accountability a breeze. All tasks are displayed in real-time, so everyone’s progress can be tracked no matter where they are. It provides powerful cloud-based functionality, making it easy for teammates to work together even when remote. Plus, integration with popular Microsoft apps like Office 365 and Outlook helps teams increase operational efficiency.

Discover the best Microsoft Project alternatives !

Microsoft Project best features

  • Dynamic scheduling based on project efforts required, project duration, and allotted team members
  • Pre-built reports to track progress on your projects, resources, programs, and portfolios
  • Grid, Board, and Timeline (Gantt chart) views to oversee schedules
  • Resource utilization and management 

Microsoft Project limitations

  • Limited integrations with other non-Microsoft products
  • Team collaboration capabilities require using the Microsoft Teams application

Microsoft Project pricing

  • Microsoft Project offers two paid pricing solutions depending on your team and software requirements: Cloud-based and On-premises

Microsoft Project ratings and reviews

  • Capterra: 4.4/5 (1,000+ reviews)
  • G2: 4/5 (1,500+ reviews)

ActiveCollab project portfolio management tools

ActiveCollab is an all-in-one project management tool designed to help agencies manage clients and projects with ease. You can create detailed project plans, assign tasks to team members, follow progress, keep track of deadlines, and discuss projects in a collaborative environment.

ActiveCollab provides your agency with all the necessary tools to ensure smooth workflow, from scheduling tasks and setting deadlines to tracking progress and exchanging feedback in real time. All these features help you stay on top of client needs without having to worry about forgetting anything. It’s a great solution for agencies who want to improve their project delivery processes. 

ActiveCollab best features

  • List, column, and timeline views to manage current projects
  • Project planning and scheduling
  • In-app budget, time, and expense tracking
  • Sample projects for inspiration 

ActiveCollab limitations

  • Advanced reporting is available on expensive plans 

ActiveCollab pricing

  • Pro : $8/month per member
  • Plus : $9.50/month for 3 members
  • Pro + Get Paid : $11.75/month per member

ActiveCollab ratings and reviews

  • Capterra: 4.5/5 (300+ reviews)
  • G2: 4.3/5 (80+ reviews)

Jira Portfolio project portfolio management software 

Jira Portfolio is a software tool designed to help product managers and agencies streamline their development processes. With Jira Portfolio, teams can quickly and easily build detailed product roadmaps that guide key milestones and deliverables throughout the entire portfolio development lifecycle. 

Teams can create in-depth Gantt charts to identify dependencies between tasks and establish reasonable timelines for completion. By providing a more organized overview of all project elements, teams can feel confident knowing their roadmaps are accurate from start to finish.

Jira Portfolio best features

  • Cross-project and cross-team dependencies
  • Roadmap testing to try different approaches
  • Scheduling algorithm to execute projects
  • Expected sprint velocity forecasting

Jira Portfolio limitations

  • Limited ability to handle different work styles and preferences compared to other project and portfolio management tools like ClickUp
  • Designed for teams experienced with SCRUM methodology 

Jira Portfolio pricing

  • Contact Jira for pricing

Jira Portfolio ratings and reviews

  • Capterra: 4.4/5 (12,000+ reviews)

Check out these Jira alternatives !

Basecamp resource capacity planning software

Basecamp is a project management software designed to help teams visually track project progress and collaborate in real time. This tool offers users the ability to create custom project schedules, assign and prioritize tasks, set reminders and notifications, store documents and files, and more.

Additionally, it offers easy access to real-time reports and analytics, so managers can identify areas needing improvement. For example, managers can quickly identify which activities are taking too long and adjust resources before they become productivity blockers. 

Basecamp best features

  • Hill Charts to visually see progress uphill or downhill over time
  • Lineup timeline to view projects from start to finish
  • Project, assignment, and schedule dashboard on one page
  • Real-time chat and messaging system

Basecamp limitations

  • Lacks advanced progress tracking functionality
  • No task priorities

Basecamp pricing

  • Unlimited users : $299/month, billed annually
  • For freelancers, startups, or smaller teams : $15/month per user 

Basecamp ratings and reviews

  • Capterra: 4.3/5 (14,000+ reviews)
  • G2: 4.1/5 (5,000+ reviews)

4castplus project planning software

4castplus is a project management platform that makes it easy for project managers to organize tasks, resources, timetables, and budgets. With a powerful combination of features, 4castplus streamlines the project planning process from beginning to end.

This makes it easy for managers to efficiently plan and monitor activity on any program across any number of teams or locations. It also allows teams to break down a project into clear deliverables so everyone can keep track of the status and metric performance along the way.

4castplus best features

  • Progress measurements for ongoing projects
  • Change order management
  • Budgeting and forecasting
  • Resource and rates management

4castplus limitations

  • The interface is outdated compared to other project portfolio management software
  • Limited ability to manage remote teams

4castplus pricing

  • Contact 4castplus for pricing details

4castplus ratings and reviews

  • Capterra: 4.5/5 (10+ reviews)
  • G2: 4.4/5 (8 reviews)

Asana task management 

Asana is a project management tool that helps you to stay on top of all your projects and tasks. It allows you to easily organize and track work, as well as collaborate with your team. With Asana, you can create tasks and assign them to members of your team, set deadlines, add comments, attach files, and more. You can also view project progress in real-time by assigning each task progress status or color-coding it for easy reference. 

Asana has powerful filtering and search capabilities, as well as reporting and analytics tools. This helps all team members get a better understanding of how projects are progressing. Reports are customizable, so you can pull in multiple concurrent projects on one dashboard and individual projects on another. 

Check out the top Asana alternatives !

Asana best features

  • Color categorization in project calendars that double as a custom field value
  • Automation Rules to send requests to team members or projects
  • Several calendar views for personal projects or team projects
  • Expanded timelines to optimize resource utilization

Asana limitations

  • Not suitable for complex programs or projects
  • No multiple assignees feature

Asana pricing

  • Basic: Free
  • Premium : $10.99/month per user, billed annually
  • Business : $24.99/month per user, billed annually
  • Enterprise : Contact Asana for pricing

Asana ratings and reviews

  • Capterra: 4.5/5 (11,000+ reviews)
  • G2: 4.3/5 (9,000+ reviews)

Custom Dashboards for Virtually Anything in ClickUp

What’s more challenging than finding the best PPM software for your team? Building impactful dashboards and introducing the tool to the team.

Unless you’re using ClickUp. 🙌🏼

Milestones in Gantt view

ClickUp’s customizable Dashboards are the ideal resource for visually tracking your progress toward completion, monitoring workloads, and staying on budget. With over 1,000 integrations and hundreds of functional features, ClickUp is the only PPM tool truly powerful enough to centralize all of your work across apps into one dynamic and collaborative platform.

And did we mention its extensive library of pre-built templates?

Learn the platform more efficiently and kickstart your PPM process using the Portfolio Management Template by ClickUp .

Portfolio Management Template by ClickUp

What are you waiting for? Sign up for ClickUp today .

Questions? Comments? Visit our Help Center for support.

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10 Best Project Portfolio Management (PPM) Software & Tools for 2024

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  • Best for resource management & capacity planning: Planview PPM Pro
  • Best all-in-one PPM and resource management software: Celoxis
  • Best for value: monday work management
  • Best for task tracking and capacity management: Wrike
  • Best for small to large businesses and contractors: Asana
  • Best for customization: ClickUp
  • Best for reporting: Smartsheet
  • Best for managing project and portfolio shared resources: LiquidPlanner
  • Best for comprehensive visibility over all projects in progress: Easy Project
  • Best for small to medium-sized teams: ActiveCollab

As companies grow, they tend to handle more projects, with main teams and subteams managing different projects. To keep everyone in sync and ensure they consistently deliver quality projects, organizations need a way to consolidate these various initiatives across the company. Project portfolio management software centralizes the management of an organization’s projects by helping managers determine which resources to allocate to a specific project.

PPM tools help business leaders align organizational goals with teams’ efforts and provide a structured approach to managing the overall project portfolio, including resource allocation strategies, risk management and performance measurement. PPM helps managers determine which projects are meeting the organization’s objectives in order to make data-driven decisions about which projects to decompose or break into smaller tasks, how to allocate resources and how to prioritize competing demands on those resources.

Top Project Portfolio Management (PPM) Software: Comparison chart

Free planPPM starting priceMobile appProject viewsThird-party integrations
NoAvailable upon requestNoGantt chart and kanban60
NoAvailable upon requestNoBoard, workload and work trend400+
Yes$12 per seat billed monthlyYesKanban, timeline, calendar, map and chart200+
Yes$9.80 per user per month, annual billingYesGantt chart and kanban400+
Yes$30.49 per user, billed monthlyYesList, board, timeline and calendar100+
Yes$10 per user per monthYesGantt chart, table, timeline, workload and box50+
Yes$9 per user billed monthlyYesGrid, Gantt chart, card and calendar96
No$15 per user per month, annual billingNoPortfolio views, project views, board views and grid viewsMostly via Zapier
No$5.90 per user per monthYesScrum boards, kanban boardsMostly via Zapier
Yes$10 per person managed per monthYesList, Kanban and GanttMostly via Zapier

Planview PPM Pro: Best for resource management & capacity planning

Planview logo.

Planview PPM Pro, formerly Planview Innotas, enables project management office leaders to prioritize tasks, track workloads and measure performance. The tool centralizes project portfolio management to establish a single source of truth for all work and resources. Moreover, Planview includes the capability of managing project costs against budget across portfolios by providing comprehensive views into each project’s budget, actual and forecast.

With Planview, managers can measure the team’s performance and view key performance indicators to determine if the team’s efforts align with company goals ( Figure A ). Planview also helps managers make informed decisions on projects and tasks based on resource availability, capacity and utilization to meet the organization’s current and future demands.

Planview program dashboard and reports.

Planview PPM Pro pricing information is unavailable on the vendor’s website. Potential buyers can request a product demo to learn more about this tool’s capabilities and receive a custom quote.

Standout features

  • Project planning and scheduling, including project phases, tasks and milestones.
  • Project financials management, including in-flight expense tracking to help teams stay on budget.
  • Variance reporting of performance measurement against baselines to determine the differences between forecasted and actual efforts.
  • Optimized resource allocation and risk management.
  • Automated notifications for new and out-of-tolerance assignments.
  • Improves team collaboration.
  • Promotes lean and agile work.
  • Time and expense management capabilities.
  • Users report that this tool is pricey.
  • There is a complex initial setup process.

Planview PPM Pro Integrations

Planview PPM integrates with over 60 third-party services, including:

  • ServiceNow.
  • Microsoft Azure DevOps.
  • BMC Remedy.

Why we choose Planview PPM Pro

We selected Planview PPM Pro for its advanced PPM features that allow you to manage all aspects of your project portfolio on one centralized platform.

Celoxis: Best all-in-one PPM and resource management software

Celoxis logo.

Celoxis is all-in-one enterprise-level PPM software that offers project planning, resource management, task tracking, time tracking, budgeting, collaboration and reporting features for optimized project portfolio management. These features help businesses of all sizes plan, manage and track projects from start to finish.

Celoxis offers fully featured resource management capabilities to maximize team utilization and project performance. It enables managers to allocate tasks based on skills, roles and availability while considering employees’ time zones and work shifts. Celoxis also offers a comprehensive suite of real-time dashboards, reporting capabilities and customizable workflows to help managers measure, analyze and optimize team performance ( Figure B ).

Celoxis PPM dashboard template.

Celoxis offers two deployment plan options: Cloud and On-Premises. Pricing information for both On-Premises and Cloud plans are available upon request. The Cloud plan requires a minimum of five users.

  • Intake management capability automatically captures and ranks project requests from web forms, emails and other sources.
  • Resource management features optimize distributed teams’ resources and analytics.
  • Customizable portfolio dashboards allow users to monitor schedules, margins and other custom metrics.
  • Project accounting provides profit and margin tracking, revenue forecasting and custom financial KPIs.
  • Time tracking.
  • Multilevel approvals.
  • PDF option for exporting reports.
  • Celoxis lacks a free plan.
  • Cloud user storage space is limited to 2GB per user.

Celoxis integrations

The tool connects with over 400 third-party apps, including:

  • QuickBooks.
  • Salesforce.

Why we chose Celoxis

We selected Celoxis for its versatility. Whether we are managing complex projects with multiple dependencies and stakeholders or simple projects with a few team members, Celoxis offers PPM features that you can align to your specific PPM needs.

See how Celoxis compares to our list of the top 10 project management software .

monday work management: Best for value

monday.com logo.

With monday work management, teams can create customized workflows, automate routine tasks and easily collaborate on projects. The software can be used by teams of any size in any industry, and is available on the web and mobile devices. monday work management provides users with many beneficial features, including time tracking, customizable templates, team boards, calendar views and integrations with other tools and services.

Further, monday work management allows managers to allocate resources and prioritize tasks to meet the company’s objectives. Its PPM templates give stakeholders a high-level view of their portfolio information and overall health ( Figure C ).

monday work management PPM project board template.

  • Free: No cost for up to two seats.
  • Basic: $9 per seat per month, billed annually, or $12 per seat billed monthly.
  • Standard: $12 per seat per month, billed annually, or $14 per seat billed monthly.
  • Pro: $19 per seat per month, billed annually, or $24 per seat billed monthly.
  • Enterprise: Contact sales for a custom quote.
  • Resource utilization and capacity planning.
  • Advanced reporting and analytics.
  • Over 200 templates available.
  • 99.9% uptime service-level agreement.
  • Built-in time tracking.
  • Self-service knowledge base.
  • Budget-friendly.
  • Limited reporting capabilities.
  • The user interface may take time to learn for first-time users.

monday work management integrations

monday work management integrates with over 200 third-party services.

Why we choose monday work management

We selected monday work management for its advance features that make it an excellent choice for project portfolio management. The PPM platform gives you value for your money by providing quality tools for managing projects, tasks and resources.

For more information, check out our full monday Work OS review .

Wrike: Best for task tracking and capacity management

Wrike logo.

Wrike is primarily a project management service provider with extensible PPM capabilities that help teams manage multiple projects and visualize and prioritize resources for a better workflow. The tool has a prebuilt, ready-to-use PPM template and project portfolio analysis capabilities ( Figure D ). These features help teams manage multiple projects, track progress and manage resources efficiently. And Wrike’s collaboration features help teams collaborate, communicate and coordinate tasks. Wrike is available as a cloud-based, desktop and/or mobile app solution for businesses of all sizes.

Wrike PPM KPIs dashboard.

Wrike’s project portfolio management features are only available in the Business, Enterprise and Pinnacle pricing tiers:

  • Team: $9.80 per user per month for two to twenty-five users.
  • Business: $24.80 per user per month for five to 200 users.
  • Pinnacle: Contact sales for a custom quote.
  • Advanced resource and capacity planning.
  • Workflow automation to eliminate manual processes.
  • Drag-and-drop capabilities.
  • Enhanced collaboration, especially among distributed teams.
  • Time tracking capability.
  • Visual proofing capability.
  • Complex initial setup process.
  • Steep learning curve.

Wrike Integrations

Wrike integrates with 400+ third-party applications. Some of their top integrations, include:

  • Microsoft Teams.

Why we choose Wrike

Our analysis found that Wrike uses AI to minimize your project portfolio’s risk, and it maintains a risk log to ensure consistently high standards across your portfolio. Wrike also ranks highly for resource utilization, it evaluates capacities and distribution of work by visualizing upcoming requirements — this ultimately helps avoid employee burnout.

For more information, check out our full Wrike review .

Asana: Best for small to large businesses and contractors

Asana logo.

Asana PPM helps project managers monitor their team’s initiatives, such as project status, progress and resource allocation, in a unified dashboard. Asana provides a comprehensive view of an organization’s project portfolio, enabling managers to prioritize projects, allocate resources and manage budgets more effectively.

With Asana, teams can track project progress, collaborate on tasks and set up reminders and deadlines. It also includes a workload view ( Figure E ), which helps managers identify team members’ capacity and balance their workloads.

Asana multiple project portfolio template.

Asana’s PPM features are only available in its Business plan, which is priced at $24.99 per user per month when billed annually, or $30.49 per user when billed monthly.

  • Project views for timeline, list, board and calendar.
  • Custom workflow automation.
  • Project planning, task management, risk management and issue management.
  • Short learning curve.
  • Excellent collaboration features.
  • User-friendly interface.
  • Highly customizable.
  • Asana can be expensive for teams looking for more advanced features.

Asana integrations

Asana integrates with over 100 third-party apps, including:

  • Adobe Creative Cloud.
  • Google Drive.

Why we chose Asana

We selected Asana for its ability to manage multiple projects and large-scale initiatives and easily visualize progress across initiatives for executive stakeholders. Asana Portfolios can also help you monitor project timelines and dependencies, allowing you to prioritize and allocate resources effectively.

For more information, check out our full Asana review .

ClickUp: Best for customization

ClickUp logo.

ClickUp consolidates productivity, project management, work management, document collaboration and communication on a unified platform. It is designed to be an all-in-one platform that can be customized to suit the needs of various teams and industries, from small businesses to large enterprises. ClickUp provides stakeholders with extensive insights into all projects’ progress and reports on milestones.

ClickUp has over 15 customizable project views and an extensive template library for various use cases ( Figure F ). The tool has over 50 native integrations, making it easy for teams to connect with existing apps in their toolkits.

ClickUp PPM dashboard template.

  • Free Forever: No cost for 100 MB storage and unlimited tasks.
  • Unlimited: $7 per user per month, billed annually, or $10 per user billed monthly.
  • Business: $12 per user per month, billed annually, or $19 per user billed monthly.
  • Advanced task views, such as Gantt chart, table, timeline, workload, box, activity, mind map, list, calendar and map.
  • Task dependencies capability.
  • Natural language processing.
  • Work in progress limits.
  • ClickApp mobile application.
  • Risk management capability to assess multiple projects’ performance against strategic organizational objectives.
  • Support for multiple assignees.
  • Mobile app has limited project views.

ClickUp integrations

ClickUp offers over 50 native integrations. The popular ones include:

Why we chose ClickUp

We chose ClickUp because it provides templates to help you manage resources, tasks and objectives, visualize progress and performance and align your teams around goals and priorities. It allows you to organize tasks into sixteen different statuses, including new, complete, at risk and in progress.

For more information, check out our full ClickUp review .

Smartsheet: Best for reporting

Smartsheet logo.

Project teams and managers familiar with spreadsheets will find Smartsheet easy to use due to its spreadsheet-style dashboard. Smartsheet allows users to create formulas, manage projects, track progress, automate manual processes and customize workflows.

Smartsheet’s project and portfolio reporting capability allows users to visualize and report on portfolio data with configurable widget-based views ( Figure G ). Smartsheet automatically adds data from new projects to the team’s portfolio reports and dashboards. Project teams can also track projects, budgets and resources to ensure they align with the organization’s goals.

Smartsheet PPM dashboard.

Smartsheet doesn’t advertise the rates of its Smartsheet Advance plan on its website – the plan that includes portfolio management. They encourage potential buyers to contact their sales team for quotes. The free, pro, business and enterprise versions lack the PPM feature.

  • Free: No cost for one user and up to two editors.
  • Pro: $9 per user per month, billed annually, or $12 per user billed monthly.
  • Business: $19 per user per month, billed annually, or $24 per user billed monthly.
  • Smartsheet Advance: Custom quote. This plan includes portfolio management.
  • Captures and compares variances between planned and actual schedules.
  • Provides report grouping into logical categories or classifications.
  • Offers grid, Gantt chart, card and calendar views.
  • Automates repetitive tasks and processes.
  • Benchmarks performance against expectations and goals to estimate value accurately.
  • Feature-rich.
  • Excellent reporting capabilities.
  • Smartsheet is expensive for small businesses.
  • Users report that Smartsheet is infrequently slow when running large projects.

Smartsheet integrations

Smartsheet connects with 96 third-party services. Some of the popular integrations include:

  • Tibco Spotfire.
  • Google Docs.
  • Easy Insight.
  • Jira Software.

Why we choose Smartsheet

We selected Smartsheet for its strong reporting capabilities in project portfolio management. The platform offers interactive dashboards that allow you to drill down into specific project details for a comprehensive view of your portfolio.

For more information, check out our full Smartsheet review .

LiquidPlanner: Best for managing project and portfolio shared resources

LiquidPlanner logo.

LiquidPlanner offers project and portfolio management capability that helps teams prioritize work, manage resources and track progress in real-time. Our research found that its PPM capability is available to all user tiers, allowing teams of all sizes to easily create and manage project schedules, allocate resources correctly and ensure that everyone works on the right tasks at the right time. It also serves as a unified hub for teams to access and share documents and resources.

LiquidPlanner housekeeping dashboard.

  • Essential: $15 per user per month, billed annually.
  • Professional: $28 per user per month, billed annually.
  • Ultimate: $42 per user per month, billed annually.
  • Portfolio-wide search.
  • Portfolio workload views.
  • Alerts and insights.
  • Schedule insights and dependencies.
  • Detailed data reporting.
  • Automatic resource leveling.
  • Its data customization capability lets you add custom properties to projects, tasks and resources to get the reports you need.
  • Essential plan has limited time management tasks.
  • Limited integrations.

LiquidPlanner integrations

Why we choose liquidplanner.

We selected the tool because of its high level of customization in project and portfolio management. For instance, its custom data functionality lets you categorize your data by client, program, and risk level with various data field types. Its integration with OpenAI also lets you filter and download schedule data for analysis.

For more information, check out our full LiquidPlanner review .

Easy Project: Best for comprehensive visibility over all projects in progress

Easy Project logo.

Easy Project is a robust project and portfolio management software that enables users to plan, monitor and track their projects centrally. It comprehensively overviews project performance, resources, time and budget.

With features such as Global Gantt for accurate project planning, Portfolio Statement for creating detailed reports and Portfolio Tree for an overview of all projects, Easy Project simplifies project and portfolio management processes, allowing users to streamline workflows, optimize resource allocation and achieve project goals.

Easy Project resource management dashboard.

Easy Project has both an on-premises edition and a cloud edition. The on-premises solution costs $5.90 per user per month.

Cloud pricing

  • Essential: $5.90 per user per month.
  • Business: $11.90 per user per month.
  • Platform: $23.90 per user per month.
  • Enterprise: Custom quote.
  • Resource management.
  • Agile tools — scrum boards, kanban boards and dashboards for product owners and scrum masters.
  • Portfolio statement — support portfolio statements for budgets, spent time and resources.
  • Export options (CSV, XLSX, PDF, print).
  • Custom reports functionality.
  • Advanced features require integration with third-party apps.
  • Essential plan lacks project budgets and finance functionalities.

Easy Project integrations

  • Outlook plugin.
  • Microsoft Project.

Why we choose Easy Project

Straightforward project monitoring and management — the Portfolio Tree feature in Easy Project gives users a quick overview of all their projects, with color-coded indicators for important project features such as overdue tasks, time spent and current status. This feature helps users stay organized and easily track project progress.

ActiveCollab: Best for small to medium-sized teams

ActiveCollab logo.

With ActiveCollab, users can track progress, allocate resources and monitor budgets to ensure successful project delivery. The platform allows for easy collaboration among team members, with features like task assignment, file sharing and real-time updates. Additionally, ActiveCollab provides a bird’s eye view of all ongoing projects, allowing users to prioritize tasks and manage deadlines. Users can also generate detailed project profitability reports to gain insights into the financial health of their projects.

ActiveCollab team chat.

  • Free plan for up to three members.
  • Plus: $9.5 per month, billed annually or $11 month-to-month —for 3 members.
  • Pro: $8 per member/month billed annually or $9 per member month-to-month.
  • Pro+Get Paid: $11.75 per member/month billed annually or $14 per member month-to-month.
  • Work management.
  • Team collaboration.
  • Time management.
  • Client management.
  • In-app budget, time and expense tracking.
  • Robust project resource tracking.
  • ​​Simple and easy-to-implement interface.
  • Limited storage space.
  • Sometimes slow.

ActiveCollab integrations

  • Quickbooks.

Why we choose ActiveCollab

We chose ActiveCollab for being easy to use, even for non-technical team members. It has a simple and intuitive interface, making it easy for team members to navigate and collaborate on projects without much training or technical knowledge.

For more information, check out our full ActiveCollab review .

Key features of project portfolio management software

Project portfolio management software provides analytics and dashboards to help managers and stakeholders gain insights into project performance and make informed decisions. Its features include project tracking and reporting, financial management, collaboration and communication. Other key PPM features include:

Portfolio dashboard

PPM tools often provide a dashboard that displays an organization’s project portfolio overview. It offers a real-time snapshot of the portfolio’s health, including KPIs and OKRs, such as project status, resource utilization and budget, plus a forecast versus the actual baseline. With this feature, project stakeholders can identify and address potential issues, looking at resource constraints and breaking down large projects to increase success rates.

Resource management

PPM tools typically offer resource management functionality, which allows organizations to plan and allocate resources across multiple projects. Given resource constraints, this feature helps ensure resources are not under- or over-utilized and project timelines are realistic. Resource management functionality also allows organizations to identify and address resource conflicts before they become critical issues.

Project prioritization

PPM tools often include functionalities to help organizations prioritize projects and programs based on strategic goals, available resources and other criteria. Project prioritization enables stakeholders to make data-driven decisions about which projects to pursue and how to allocate resources. Organizations can maximize the value of their project portfolios by prioritizing projects based on strategic goals and objectives.

Risk management

The best PPM tools include functionality to help organizations identify, assess and manage risks associated with projects and programs. When potential project risks are identified and addressed early in the project life cycle, there is an immediate increase in the project success rate.

However, if risks are not properly managed, they could delay delivery, cost the team more money and affect the team’s overall performance. PPM risk management functionality enables organizations to monitor and mitigate risks throughout the project life cycle, minimizing the impact of unforeseen events.

Reporting and analytics

The ability to make data-driven decisions about project selection, resource allocation and other strategic initiatives is essential for the overall health of a company. With PPM reporting and analytics features, organizations can identify trends and patterns in project performance, enabling them to track KPIs and measure the success of their project portfolio. Reporting and analytics features provide valuable insights that are needed to enhance individual projects and project portfolios.

How do I choose the best project portfolio management tool for my business?

Choosing the right PPM tool is crucial to your organization’s project portfolio management success. Here are some key factors to consider when selecting a PPM tool:

  • Alignment with organizational goals.
  • Integration with other tools.
  • Availability of project tracking and reporting, resource allocation and scheduling, risk management and portfolio analysis features.
  • Customization and flexibility.
  • Vendor support and training.

Ultimately, the best PPM solution for you depends on your company’s requirements.

Methodology

When we evaluated the best PPM software, a few criteria were considered. As a baseline, we evaluated software features to ensure each solution offers project portfolio management capabilities. We also reviewed the cost of the software, the ease of implementation and use and customer service and support. Finally, we considered the reviews and ratings each solution has received.

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The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. This comes from two main sources.

First , we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market.

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Best Project Portfolio Management Software

Published: Dec 12, 2023, 12:44pm

Reviewed By

Important Disclosure: The content provided does not consider your particular circumstances and does not constitute personal advice. Some of the products promoted are from our affiliate partners from whom we receive compensation. Read More

If you require any personal advice, please seek such advice from an independently qualified financial advisor. While we aim to feature some of the best products available, this does not include all available products from across the market. Although the information provided is believed to be accurate at the date of publication, you should always check with the product provider to ensure that information provided is the most up to date. Read Less

Project portfolio management (PPM) is a critical aspect of project management that helps companies best determine which resources to devote to which projects. It helps managers prioritise projects among a long list of goals.

Portfolio management software aids managers in keeping a high-level view of which projects are meeting the needs of the organisation best and breaks those projects down further into the different components needed to succeed.

The best project management software is easy to use with a short learning curve. These solutions need to be cost-effective and allow users to identify bottlenecks in the project management timeline easily. Forbes Advisor took a look at the best project management software solutions on the market and came up with a list of the five best for you.

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Free version available

Starting Price

From £8 monthly per user

Key Features

Mobile app available, All plans include unlimited free viewers, unlimited docs, shareable forms and more

On monday.com’s Website

Track your projects, set deadlines, assign tasks and monitor progress with monday.com

  • monday.com: Best overall
  • Teamwork.com: Best for growing teams
  • Smartsheet: Best for spreadsheet-style management
  • Trello: Best value

Best Overall

monday.com

Free to £17 per person per month (minimum of three users)

(billed annually)

This cloud-based platform is a comprehensive project management tool. The many templates allow you to instantly plug in and plan project management. Choose from a work calendar, single project and advanced single project templates. Team members will appreciate the multiple views available that allow them to manage their workflows individually – there are Kanban, Gantt, timeline and calendar views.

Managers can see individual projects at a glance or get a sense of the entire slate of projects the company is working on. All views are customisable, catering to the specific detailed needs of any individual or team.

The system has built-in time tracking, allowing managers to fully understand the cost of a project with the resources allocated. This feature is even available in the mobile app, which is as comprehensive as they come for leadership on the go.

For efficiency, monday.com allows many automations and allows repeat notifications to be turned off, lessening the inbox of each team member. It integrates with Slack, Dropbox, Zoom, Shopify, Google Calendar, Gmail and a slew of other tools.

Who should use it:

Businesses of any size looking for a robust solution that is cost-effective and allows for flexibility and customisation.

  • Customisable automations
  • PMO project planning templates
  • Easy to use
  • Limited task dependencies
  • Support responses can be slow

Best for Growing Teams

Teamwork.com

Free to £19.99 per user, per month (minimum of three to five users)

Growing teams need to be able to easily see what tasks are coming and communicate about them, which is why Teamwork.com earns the spot for best for growing teams. Not only does it make it easy for teams to communicate, but it also opens transparency on projects to an unlimited number of free client users. A collaborative document editor gets everyone on the same page, working toward the same goal.

With the Grow plan, organisations are able to customise fields, do resource scheduling and run utilisation reports. The editable Gantt chart view is intuitive and comprehensive, giving an overview of project tasks and allowing managers to make appropriate changes to projects.

For teams that work with external clients, the ability to invoice and bill helps take project management into revenue management. The tool allows for expenses to be tracked or to generate a flat-fee invoice.

The system supports webhooks to allow automation to email and Slack. The platform also supports Zapier and integrates with HubSpot. Overall, this platform makes collaboration easy.

Those in Agile work environments where projects may change in scope regularly.

  • Intuitive layout
  • Multiple customisation options
  • Limited project templates
  • No image markup tool

Best for Spreadsheet-Style Management

Smartsheet

Free to £19 per user per month (minimum of three users)

Smartsheet focuses its design and workflow using a spreadsheet-style dashboard that may already be familiar to project managers. Like any good PPM solution, it offers grid, Gantt, card and calendar views. As with standard spreadsheets, you can create formulas in cells and columns to help with tracking and reporting.

Teams can work together to share work via presentations, images and PDFs with real-time updating and collaboration. Start a project using one of the many templates and then customise it by adding or removing certain features. As with any type of spreadsheet system, analytics and reporting are as powerful as you need them to be.

Numerous automation tools use a simple drag-and-drop system, making it easy to set up and customise. Get as detailed as you want with workflow automation, thanks to Smartsheet’s advanced features. The system supports work with Microsoft 365, Google Workspace and Apple ID.

Companies already working with spreadsheets for PPM purposes will appreciate the solution offered by Smartsheet.

  • Unlimited customisation
  • Comprehensive analytics and reporting
  • High-security solution
  • Not intuitive

Trello

Free to £13.50 ($17.50)* per user per month

Trello gets the nod for best value because even its free version comes with most of the bells and whistles you could want. It remains one of the easiest-to-use programs and a very popular option among individuals and enterprises alike.

The free version allows you to have unlimited cards with up to ten boards per workspace. This is more than enough for a small company to manage projects from start to finish. Users can assign other team members to tasks and prioritise due dates. When you upgrade to the Standard version, you get advanced checklists with customisable fields. The Premium version allows for multiple views including dashboard, timeline, workspace table, calendar and map view.

Trello integrates with numerous other tools including Slack, Google Drive, Zoom and Microsoft Teams. Most functions are available in the mobile app so that you can have project management capabilities while away from the office. Automation features enable you to set up rules for your cards and boards so that one action triggers another and reduces the number of manual clicks required.

Anyone unfamiliar with PPM tools will find Trello one of the most intuitive platforms available.

  • Simple team collaboration
  • Power-Ups for integration and file management
  • Intuitive Kanban board design
  • Limited project views on Standard plan
  • No data reporting

Forbes Advisor uses a quantitative analysis to give each company a rating based on a five-star system. There are five key areas used with 18 different data points evaluated to rate each company. A total of 10 popular solutions were evaluated to create this best of five list.

The sections evaluated are:

  • Pricing. We wanted to know if the price of the product fell in line with other industry solutions as well as checking to see if a free version is available
  • General features. We checked to see if basic features were part of the core package that included role assignment, timelines, Gantt charts and software integrations
  • Additional features. Companies were evaluated as to whether or not they had additional features such as budgeting, markup tools and billing and invoicing features
  • Reviews and recognition. Companies were rated based on two review sites, Capterra and Trustpilot. We sought to find out if the company had at least a 3.5-star rating
  • Expert score. This section looked at how easy the software was to use and whether it was a good value for the money.

PPM is a system of operations that helps leadership focus company resources on the most important projects. The most important projects are those that will support the overall objectives of the company and lead to a higher return on investment.

In PPM, leaders track and evaluate multiple projects at the same time and evaluate them based on priority. Projects that will have the biggest impact are given the highest priority. Each project is individually managed for resources, timelines and required assets.

There are four basic areas you should consider when choosing a portfolio management software solution.

Cost: The first is cost, as every company needs to find something that fits into its overall budget. When considering cost, look at the monthly costs as well as any third-party costs (such as integrations with other software) that may be necessary to have an efficient system. With that said, you also want to make sure you’re investing in a system that can keep up with your daily workflows.

Efficiency: This is the second thing to consider when choosing a PPM. Choose a system that helps keep your people efficient in task management. The ability to create tasks and track them through a project timeline helps you make sense of complicated projects with a lot of moving parts. Having the right management features is crucial in a service of this kind.

Flexibility: Flexibility is something else to bear in mind. Things change quickly in many company operations. Your project portfolio management software should give you plenty of options for customising workflows, tasks, and other options. This way, you have a solution that morphs into what your company needs to organise projects rather than something you need to change systems to fit into.

Software integrations can fill a lot of gaps in your system when it comes to flexibility. Many leading providers offer the ability to connect data with other types of business apps, from customer relationship management (CRM) systems to cloud storage systems and beyond.  These integrations can automate a lot of tedious work on your end by automatically connecting information from these other platforms and bring that data into your project management solution.

For example, you could bring in customer information from a CRM like Salesforce into your project portfolio management solution and attach that customer to a task for an agent using Wrike.

When they close a sale with that client, they could use that integration to update customer info in their platform and have it automatically update within the Salesforce app while saving them the trouble of having to log into that platform. These small conveniences can add up to save a lot of time and effort for you and your staff.

Transparency: Finally, find a PPM that makes the whole process visible with transparency to all stakeholders. Parties should be able to see the whole slate of projects, where each is at and review which take priority on the list. With that said, having a robust set of permissions options can help you maintain project security.

While some workers on your team may need full edit access of task items, there could be scenarios where you’re dealing with sensitive information and want to block out unrelated parties from the project. You should also be able to toggle view-edit access for users depending on their involvement in the project.

* conversion correct as of 11 December 2023

What are the three phases of project portfolio management?

Each project follows three basic phases. There is the planning phase, followed by the authorisation phase that green-lights the project to start. From there, the final phase is to monitor and control the project based on milestones and feedback.

What are portfolio management techniques?

Techniques used in portfolio management include systems and processes used to examine any set of projects or activities. The goal is to find a balance between the risks and returns and use resources effectively. Techniques may evaluate the stability versus growth that a project offers and review both the attractions and drawbacks of any given project.

What are project portfolio tools?

Project portfolio tools help managers interpret and analyse project performance and often include market demand analytics, resource allocation and management tools and product pipeline processes and workflows. Tools allow the leader to schedule projects based on quantitative and qualitative data.

What are some important tools and features?

The features and tools you want to have when choosing project portfolio management software include the ability to assign tasks to team members, create and adjust schedules for those tasks, which should be shareable with team members, and share files with team members.

This software should be accessible online, preferably with a mobile app as an option, and have the ability to grow as your company grows.

Kimberlee Leonard has taken her professional experience as an insurance agency owner and financial advisor and translated that into a finance writing career that helps business owners and professionals succeed. Her work has appeared on Business.com, Business News Daily, FitSmallBusiness.com, CentsibleMoney.com, and Kin Insurance.

  • Project Portfolio Management Software

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Wrike

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Project Drive

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PowerSteering

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AceProject

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Planisware Enterprise

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4.2 ( 3 reviews )

4 recommendations

Workzone

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Planview PPM Pro

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Asana

Asana is a comprehensive project management tool that offers a range of technical features to streamline workflows and enhance collaboration within teams. With its user-friendly interface and robust capabilities, Asana provides or... Read more about Asana

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Planview Portfolios

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Planview Enterprise One enables EPMO and strategic planning leaders to translate strategy into delivery with roadmaps that connect investments, outcomes, business capabilities, technology, and financials. The robust platform enabl... Read more about Planview Portfolios

4.0 ( 16 reviews )

ManagePro

ManagePro is a hybrid project management solution designed for small and midsize businesses that cater to government, commercial and educational projects. It is suitable for a range of industry verticals such as architecture, real... Read more about ManagePro

4.7 ( 20 reviews )

Celoxis

Ranked #1 by Gartner and G2, Celoxis is a comprehensive project portfolio management (PPM) software that seamlessly plans, tracks, and manages all your workflows on a customizable platform. The PPM tool helps you manage every aspe... Read more about Celoxis

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ProjectManager.com

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Deltek Costpoint

Deltek Costpoint

Deltek Costpoint is an enterprise resource planning (ERP) and management solution designed to meet the requirements of midsize and large enterprise businesses. The solution primarily assists government contractors, professional se... Read more about Deltek Costpoint

4.0 ( 208 reviews )

Camms.Project

Camms.Project

Camms.Project stores all necessary elements to manage organization-wide projects within one cloud-based system. Users are able to access proposals, assessments and plans and also implement and evaluate projects through this self-g... Read more about Camms.Project

4.6 ( 59 reviews )

Trello

Autodesk Construction Cloud

Project portfolio management software refers to a class of systems that provide support for organizations managing complex and often concurrent projects, i.e., a portfolio.

These systems help increase project awareness and visibility, allowing managers to allocate resources to current and future projects more effectively.

Over time, project portfolio management software offers a wealth of performance data. Decision-makers can better analyze the risk versus reward for different types of project initiatives. This allows leaders to make more informed decisions on the types of projects they choose to fund.

It can be difficult to know when, if ever, your organization should graduate to portfolio management from traditional project management. Adding to the confusion, many vendors straddle the divide and offer solutions that serve both needs.

While the benefits are many, project portfolio management systems are more advanced than traditional project tools . They require a significant investment of time and resources to implement and manage.

This buyer’s guide will help you better understand the differences between project portfolio management and project management. This way, you can make a more informed purchase decision about which is the right software to support your needs.

Here’s what we’ll cover:

What Is Project Portfolio Management Software?

When to invest in ppm software, core functionality to look for in ppm software, what type of buyer are you, expected benefits.

Project portfolio management (PPM) refers to a collective effort by an organization to centralize and coordinate project efforts across a portfolio of work. PPM software helps automate processes, streamlining the planning, managing and delivery of each project.

While traditional project tools are designed to support teams at a project or department level, PPM software is designed to support project processes at an organizational level.

This means that while each system will have similar capabilities, such as project planning , PPM software will offer additional capabilities beyond what’s available in traditional PM tools.

For example, traditional planning allow managers to map out a project’s critical path and identify task dependencies and constraints. PPM software does this and more, allowing decision-makers to map out the dependencies and constraints between projects and identify potential scheduling issues, budget conflicts and overlapping objectives.

Ultimately, this allows leaders to better weigh one initiative against another so the business can eliminate waste and execute on the projects that deliver the greatest value.

According to Gartner, businesses follow a natural, progressive development of project management processes and strategy referred to as "project and portfolio management (PPM) maturity."

There are five levels, with level one being the least mature and level five being the most mature. Organizations gradually develop and refine their PM processes, moving away from manual PM methods and investing in tools to support their workflows. By doing this, their PPM maturity advances.

PPM Maturity Levels

Project-Portfolio-Management-Maturity-Levels

At a level one PPM maturity, businesses may be using basic scheduling and task management tools on a one-off project basis. As they move into level two, most businesses have invested in PM software that they consistently use as a centralized and collaborative project space.

It’s not until businesses reach a level three PPM maturity that they should consider investing in PPM software.

SMBs at a level three PPM maturity have most likely established a project management office (PMO) to help them oversee and institute PM processes at an organizational level. The PMO acts as a governing unit that evaluates project initiatives to ensure they align with organizational goals and strategy.

Prior to investing in PPM software, your organization should evaluate whether it has followed portfolio management best practices :

Portfolio Management Best Practices

Portfolio-Management-Software-Best-Practices

Following these steps, in this order, helps ensure structured processes are in place before implementing a solution and that there is a governing body in place to oversee the implementation. This gives your business the best chance of successfully adopting portfolio management and implementing PPM software.

As you evaluate PPM solutions, look for the following critical capabilities to ensure your organization has the portfolio support it needs:

Manage projects from initial concept to final delivery. Create risk-return profiles to compare initiatives so that all the projects within a portfolio align with strategic goals and deliver business value.

, assign to staff for evaluation and monitoring and create risk management plans. Establish issue/change management protocols to deal with change requests and new issues that arise during project execution.

Assess employee skill levels and allocate resources across multiple projects based on skill sets and availability. and ensure that high-priority projects are staffed first.

Track project and portfolio progress against criteria such as budget, timeline and progress toward milestones and achievement of business objectives. Customize views according to specific user needs, e.g., executive, manager and/or customer.

Monitor and export data for a snapshot of current standing. Analyze data, and compare with previous reports to better understand organizational performance.

Not every small business will progress to a level of PPM maturity or project complexity that warrants an investment in PPM software. These tools are designed for organizations that need to effectively allocate and manage resources across multiple concurrent projects. These businesses will have portfolio management processes already in place.

In short, if your small business is still running one-off projects and has not thought strategically about instituting portfolio management processes, you probably do not need PPM software. Instead, you’re likely better off with a traditional project management solution that can help you streamline workflows and project processes at a project or department level.

Out of the thousands of software buyers who contact us each year, the following are the types of buyers who most often need more advanced PPM software:

Industry-specific, speciality buyers: Small and midsize businesses (SMBs) in fast-paced fields can break from the traditional PPM maturity-mold when it comes to PPM software. These buyers struggle to match limited resources with high project demand and as such, PPM solutions can help them streamline their efforts.

Industries that often require more advanced PPM solutions include information technology (IT) services, software/technology and related fields, as well as marketing firms, professional services organizations, construction and engineering.

Small and midsized businesses (SMBs): SMBs at a level three PPM maturity can use PPM software to help coordinate project efforts across the portfolio. This can provide the level of visibility and oversight needed to successfully manage projects from conception to completion. At this stage, businesses might consider PPM solutions such as Mavenlink or Microsoft Project .

Growing SMBs and enterprise organizations: Growing SMBs and larger enterprise organizations are likely at a level three PPM maturity or higher. The size and complexity of their projects makes them good candidates for PPM software. PPM solutions to consider include Clarizen and Workfront .

Organizations needing support for their project portfolio can benefit from investing in PPM software in several ways. The following are a few examples of ways PPM software might help:

More efficient resource allocation: Awareness of current and future project requirements allow business leaders to more effectively allocate resources—employees, time and money—across the entire portfolio.

Improve balance: Understanding the resources required for various types of projects allows businesses to achieve a better balance between short-term and long-term projects which allows them to maintain optimal resource capacity.

Increase value: Using project evaluation criteria to weigh initiatives against the other projects in the portfolio helps businesses eliminate waste and execute on those initiatives that deliver the most value.

Related Project Management Software

By Application

  • Agile Project Management Software
  • Kanban Software
  • Scrum Software
  • Bug Tracking Software
  • Patch Management Software
  • Idea Management Software
  • Online Project Management Software
  • Product Management Software
  • Project Management Software For Mac
  • Project Planning Software
  • Project Tracking Software
  • Resource Management Software
  • Strategic Planning Software
  • Task Management Software
  • Time And Expense Tracking Software
  • Online Time Tracking Software
  • Time Tracking Software

By Industry

  • Construction Project Management Software
  • Creative Project Management Software
  • Enterprise Project Management Software
  • IT Project Management Software
  • Manufacturing Project Management Software
  • Marketing Project Management Software
  • Project Management Software for Engineering
  • Small Business Project Management Software

Project Portfolio Management (PPM) Software Guide

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portfolio and project management software

What is PPM software?

Decision-making in a dynamic business climate demands a central platform to manage overall project efforts. Project portfolio management (PPM) software provides the visibility, oversight, and tools to help companies prioritize and manage current projects and resources, as well as future needs and demands.

Project management software can help streamline your company’s processes. When you’re managing multiple projects at a time, it can be difficult to identify bottlenecks and streamline tasks. Project mismanagement can result to lack of visibility into project status, inefficient decision-making and budget overruns. Fortunately, project portfolio management software can help project managers overcome these challenges and streamline their work. With the assistance of PPM software, project managers can easily align projects with organizational objectives, identify and mitigate risks, and gain complete visibility across multiple projects.

And to help you decide on the best project portfolio management software for your business, here’s a list of our hand-picked favorites and what sets them apart from other PPM software:

  • Smartsheet is best for collaboration and workflow automation.
  • Wrike is best for ready-made templates.
  • monday.com is best for its user-friendly and intuitive interface.
  • Planview is best for reporting.
  • Adobe Workfront is best for a cloud-based ecosystem.
  •   Asana is best for task management.

Featured partners Featured Partners

Smartsheet: best for collaboration and workflow automation.

Smartsheet logo

  • Limited suitability for complex and large-scale projects.
  • Requires a learning curve for users new to the platform.

Customizable Dashboards and Reports: Smartsheet lets you make dashboards and reports that you can customize to show you how your project portfolio is doing in real-time. You can keep track of critical metrics, keep an eye on progress, and make insightful reports to help you make choices based on data.

Integration: Smartsheet works with many different tools and platforms, so you can connect and combine information from other places. Integration with tools like Microsoft Project, JIRA, Salesforce, and Tableau makes handling data easier for different teams.

Centralized Project Information: Smartsheet gives you a central place to store and handle all information about a project, such as plans, tasks, documents, and communications. This ensures that everyone has access to the most up-to-date information, promoting openness and cooperation.

Smartsheet offers free subscription for one user, up to two editors.

Pro plan starts at $9 per user per month, billed annually.

Business plan starts at $19 per user per month, billed annually.

Enterprise Edition requires custom pricing.

Smartsheet is one of the best project portfolio management tools because it offers flexible project tracking tools, provides portfolio-level visibility, supports automation and workflow, and integrates with other tools. These features allow teams to collaborate effectively, monitor project progress, and make informed decisions for more efficient project portfolio management.

If you don’t see the right choice amongst this list of PPM tools, look at our Marketing Project Management Software Guide for more project management software options.

Smartsheet was developed in 2005 and has since grown to become a leading provider of collaborative work management solutions, including project portfolio management, across various industries.

With its outstanding features that involve project prioritization, portfolio reporting and workflow automation, project managers can enhance efficiency, facilitate collaboration, and enable informed decision-making for successful project portfolio management.

Wrike: Best for ready-made templates

Wrike logo

  • Limited advanced reporting capabilities compared to specialized tools.
  • The pricing structure may be less cost-effective for smaller teams.
  • Limited native document editing features.

Breaking Down Silos: Wrike enables teams to eliminate silos and drive digital transformation, fostering collaboration and removing barriers between departments and teams.

Real-time Optimization: Wrike’s advanced portfolio management tools enable real-time project evaluation and optimization. It facilitates portfolio management and promotes collaboration on a single, secure platform.

Ready-made Templates: Wrike provides ready-made portfolio management templates and tools, allowing you to reduce administrative work, accelerate results, and simplify complex projects.

Wrike offers free subscription.

Team plan starts at $9.80 per user per month, billed annually.

Business plan starts at $24.80 per user per month, billed annually.

Enterprise and Pinnacle Subscriptions require custom pricing.

We chose Wrike due to its extensive functionality, user-friendly interface, real-time collaboration, and scalability. Wrike facilitates effective portfolio planning, resource allocation, and customized workflows with PPM-specific tools. Wrike can be integrated with other systems, and its scalability accommodates teams of various sizes. In addition, Wrike provides robust customer support and resources to facilitate a seamless user experience. These characteristics make Wrike the ideal platform for project portfolio managers searching for efficient and streamlined PPM processes.

Also read: Top Engineering Project Management Software for 2023

Wrike is a project management and collaboration software that Wrike Inc. created in 2006. It’s a powerful tool for team communication, file sharing, task discussions, enhancing productivity and teamwork.

Wrike also supports different functions such as Agile project management, remote working, automation, eliminating inter-team silos, and providing tailored solutions for diverse organizational needs. Wrike’s flexibility and extensive features make it suitable for empowering teams and organizations to optimize their project management and collaboration processes.

monday.com: Best for user-friendly and intuitive interface

portfolio and project management software

  • Complexity in customizing workflows
  • Learning curve for new users

Intuitive Interface: monday.com has an intuitive interface that is straightforward to navigate and comprehend. The intuitive nature of the platform reduces the learning curve, allowing teams to adapt rapidly and maximize their productivity.

Versatile and Customizable: monday.com provides a highly adaptable and adjustable platform. Users can customize their PPM workflows, project boards, and dashboards to meet their particular requirements and preferences. This flexibility enables the efficient administration of diverse portfolios and the alignment of the software with specific organizational processes.

Analytics: monday.com offers comprehensive analytics and reporting capabilities for gaining insight into project and portfolio performance. Users can monitor key performance indicators, generate custom reports, and visualize data using charts and graphs. These analytics facilitate decision-making, optimize resource allocation, and enhance project results.

monday.com is free for up to 2 seats for individuals looking to keep track of their work.

Basic plan starts at $9 per seat per month, billed annually.

Standard plan starts at $12 per seat per month, billed annually.

Pro plan starts at $19 per seat per month, billed annually.

We chose monday.com due to its customizable nature, user-friendly interface, and seamless collaboration features. The platform allows managers to tailor their PPM workflows, track projects visually, and allocate resources efficiently. With its intuitive interface, monday.com simplifies project management and fosters effective communication and coordination among team members and stakeholders. Additionally, monday.com can accommodate portfolios of different sizes, making it suitable for both small teams and large enterprises.

monday.com, formerly dapulse, was developed in 2012 and has become widely used as a project management and collaboration tool. monday.com is a competitive project portfolio management (PPM) software offering versatile customization, an intuitive interface, robust analytics, and a rich template library.

With monday.com, users can tailor workflows, track projects visually, and allocate resources efficiently. The platform promotes effective communication and coordination among team members and stakeholders. Integration with various tools enhances productivity while automation streamlines processes. Analytics and reporting provide valuable insights for decision-making. monday.com accommodates teams of all sizes and offers pre-built templates for quick implementation. These features make it a compelling choice for PPM needs.

Planview: Best for Reporting

portfolio and project management software

  • Smaller organizations or those experiencing rapid growth may need help scaling the solution effectively.
  • Seamless integration with other tools and data sources may require additional effort and resources.
  • Its pricing may be a significant investment for smaller organizations or those with limited budgets.

Reporting: Planview offers comprehensive visibility into diverse aspects of work, resources, and progress. It enables organizations to generate comprehensive reports and obtain actionable insights, facilitating informed decision-making and effective communication between teams and stakeholders.

Alignment of Strategy and Execution: Planview helps organizations match their long-term goals with the work they do every day. It turns strategy into plans that can be carried out and makes sure that teams are working on the most important projects and goals. This alignment makes it easier to stay on track, make decisions, and reach strategic goals.

Support and Guidance: Planview provides dependable support and guidance throughout the entire implementation process. The company’s tried-and-true success methodology and playbooks assist organizations in navigating their transformation journeys and maximizing Planview’s value.

Contact Planview to find the best fit for your unique requirements.

We chose Planview because it has extensive reporting and project management capabilities. Planview facilitates strategic alignment, dynamic planning, and cross-team collaboration. It offers vital guidance throughout the lifecycle of a project with its proven success methodology, leadership resources, and support. By utilizing Planview, project managers can improve their ability to deliver successful projects, drive organizational transformation, and effectively manage portfolios, making it an attractive option for project management requirements.

Also read: Best Free Project Management Software (2023)

Planview is a software corporation specializing in work and resource management solutions. They are well-known for offering a comprehensive platform that enables organizations to effectively manage their portfolios, projects, resources, and collaborative work. The solutions provided by Planview assist businesses in optimizing resource allocation, aligning projects with strategic objectives, fostering collaboration, and enhancing overall project and portfolio performance.

Adobe Workfront: Best for cloud-based ecosystem

AdobeWorkfrontreviews

  • Some users commented that the platform provides limited report customization options.
  • As a cloud-based solution, Workfront relies on a stable internet connection for access and usage.
  • Workfront’s performance and responsiveness can be influenced by factors such as the number of users, the complexity of projects, and the volume of data stored.

Reviews and approvals: Adobe Workfront streamlines the approval process with online proofing tools and approval automation that let all stakeholders work in the same document where creative teams work.

Scenario planner: The Scenario Planner enables managers to anticipate how incoming projects will impact the team so they can always prioritize the highest-value work. This feature simplifies the process of continuous planning. Users can construct multiple what-if scenarios, compare them, and choose the best path forward at any time without disrupting work in progress.

Resource management: Teams can balance workloads, reduce costs, and meet targets with the software’s visual resource management tools that show projects, goals, and team capacity. Adobe Workfront’s automation also supports balancing requests against organizational priorities by identifying the best team members for critical projects.

Workfront offers four plans to meet your work management needs.

Get pricing here .

We chose Workfront because its cloud-based nature provides accessibility from anywhere, scalability to accommodate growth, strong data security measures, and real-time updates, cost-effectiveness with a pay-as-you-go model, and integration with other systems. These benefits make it an attractive option for organizations seeking to manage and optimize their project portfolios while leveraging the benefits of cloud technology.

Adobe Workfront, formerly known as Workfront, is designed for enterprises seeking to rapidly prioritize, assign, and complete projects at any scale strategically. The central dashboard of Adobe Workfront enables teams to initiate projects by displaying available resources and delegating tasks using templates and automation. 

The software provides users with real-time updates on the status of projects and the impact of new work requests on resourcing timelines and KPIs. It keeps everyone aligned with the business objectives of the organization.

Asana: Best for task management

asana logo

  • The interface and features of Asana may be too much for organizations with many projects and complicated project structures.
  • Some users find the platform’s features too many and need help understanding.
  • If tracking money, making budgets, or analyzing costs are essential parts of your portfolio management process, you may find Asana’s capabilities in this area could be improved.

Task management: Asana’s task management keeps track of tasks, lets users assign subtasks to teammates, and sets limits to ensure projects get done on time. It also makes it easier to share files, comments, and thoughts.

Workflow Builder: The Workflow Builder lets users organize work across teams by automating processes and keeping the project moving. Organizations can make more efficient processes by using this visual tool to unite team members, coordinate their work, and streamline projects all in one place.

Communication: The software comes with several tools that make it easier for team members to talk to each other, clients, and other important people. Users can comment immediately on a task to get more information about it or to mention other team members.

Basic: Free

The free plan allows up to 15 users, which means it could work for your small team. It offers all the essential project and task management tools.

Premium: $10.99 per user per month, billed annually.

Business: $24.99 per user per month, billed annually.

We chose Asana for its task management features, intuitive interface, customization options, integration capabilities, and mobile accessibility. Its user-friendly design allows users to create, assign, and track tasks, while customizable workflows and task dependencies help manage complex projects. Seamless integration with other tools enhances productivity, and real-time updates and mobile apps keep teams connected and productive. Asana’s comprehensive task management features make it a top choice for individuals and teams seeking efficient and collaborative task management solutions.

Also read: Visual Project Management Software Guide

Asana is a web-based project management software that enables teams to manage projects, prioritize what’s most essential, and organize their work in one central location for seamless collaboration. It enables organizations to manage company objectives, digital transformations, product launches, and marketing campaigns.

Asana offers web and mobile applications enabling teams to remain on track, organize projects, and meet deadlines regardless of location. Managers can synchronize team assignments so everyone knows their responsibilities, and coworkers can share feedback, files, and status updates. It provides a comprehensive view of work and enables teams to focus on the appropriate duties at the right time. Team members can view the project’s progression, monitor individual tasks, organize sprints, and successfully launch products.

What are some PPM software features?

Ultimately, the best software for your business depends on the overall functionality and integrations you need. To understand how a PPM tool might satisfy your objectives, it’s important to understand the core functionality each one provides. PPM software typically includes the following key management capabilities.

Pipeline management

Sometimes called pipeline assessment and analysis, this feature helps managers determine whether a project or a set of projects can be finished with the time and resources on hand. A constant, real-time overview of projects and resources allows you to assess which endeavors contribute to business objectives and determine the best way to invest accordingly.

Resource distribution

With a 10,000 foot view of your project pipeline, you can efficiently allocate company resources to projects as needed. Sometimes called demand or resource management, this allows you to manage and distribute financial, inventory, technical, and human resource. In addition to offering resource allocation on an individual project basis, many systems allow you to model what-if scenarios and apply them across the entire portfolio.

Change management

One major reason many projects fail is because new requirements, features, operational constraints, regulatory demands, or technical alterations crop up mid-project. These fluctuations in project details often force projects to go over budget or past deadlines. To overcome this, a good PPM tool provides a central repository for various change requests. This allows you to quickly assess inquiries as they arise, and match available resources to overall demand. Additionally, change management allows you to monitor project timelines and budgets in real-time.

Financial administration

Your financial manager needs to accurately estimate and manage the financial resources and anticipated outcome from company projects. Most PPM systems can demonstrate the anticipated financial value of projects in relation to strategic objectives and organizational priorities. 

Financial management capabilities let you see updated financial progress as it happens, which allows you to more accurately predict if a project will fail to meet financial objectives before it’s over. When you can determine when projects will fall short of financial expectations, you can change the parameters or cease investment before incurring losses.

Risk management

PPM software allows you to analyze how risky each existing and potential project is so that you can determine confidence levels across the portfolio. By grouping projects together, you can evaluate confidence levels on a categorical basis and assist financial and resource allocation decisions. Sometimes referred to as “portfolio change and risk management,” the benefit of this feature is the ability to determine which projects—or even which facets of individual projects—are too risky. Using risk regulation modules prior to launching a project can help your organization avoid poor investments.

At the core of a PPM system, the above features are made possible by company-wide analysis capabilities. A self-service reporting dashboard provides a top-level view of projects, resources, budgets, requirements, and timelines. Analysis, predictive functionality, and what-if scenarios provide cohesive insights across investments to help leadership determine which efforts have the best prospects for high returns, assess the impact of changes to the portfolio, and reveal potential interdependencies. Project performance metrics from real-time data aggregation increase transparency.

Other considerations

In addition to analytics, other important PPM aspects to consider are:

  • Deployment options
  • Mobile access
  • Global support
  • Software integrations
  • IT project-specific functionality
  • New features release schedule
  • Capability-based best practices
  • Additional PM or ERP modules

Common PPM applications

Though it’s primarily adopted by enterprises , small and medium-sized businesses (SMBs) also use project portfolio management software. SMBs should focus on adopting a standard PM process and centralizing all project data before looking to leverage PPM software.

Most software markets are divided into tiers based on company size, but when choosing a PPM tool, functionality mostly varies with use case. Depending on your industry and goals, your priorities will vary. Below are a few common PPM applications that may require an industry-specific vendor.

  • IT/software development
  • Construction
  • Product development
  • Marketing agencies
  • Manufacturing
  • Pharmaceutical
  • Transportation

Choosing the best project portfolio management software

While we recommend all the project portfolio management software above, the best PPM software for your organization still depends on your unique situation.

  • If you need to focus on team collaboration and a centralized project, information, get Smartsheet so stakeholders can have real-time access to updated information.
  • If you require ready-made templates, Wrike and its ready-made portfolio management templates can help you simplify complex projects. 
  • If you’re looking for customizable software with a user-friendly interface, monday.com can help you visually track projects and allocate resources.
  • If you prefer PPM software with a proven track record, consider Planview, as industry analysts have recognized its proven success methodology.
  • If you and your stakeholders are working on a cloud-based ecosystem, Adobe Workfront’s cloud-based nature can provide access from anywhere.
  • If you want to manage tasks easily, Asana’s task management capabilities will help you keep track of tasks and share feedback and status updates.

If you don’t see the right PPM software in this list of project portfolio management tools , check out for more options in our Project Management Software Guide and Enterprise Project Management Software Guide .

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Project Management

5 best project portfolio management software: effectively manage projects in 2024.

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Best Project Portfolio Management Software

Project portfolio management software is a broad category of software that enables companies to manage their project portfolios. Knowing which app to use can help you grow your returns. Read our top five recommendations today.

Beatrice Manuel

Last Updated: 07 Mar'24 2024-03-07T22:12:36+00:00

All our content is written fully by humans; we do not publish AI writing. Learn more here.

The best project portfolio management software is one of those terms that has different meanings depending on who’s talking. The jargon boils down to this: It’s software for making strategic decisions about which projects your company should be working on and which are best left on the back burner.

The project portfolio manager (PPM) coordinates and manages the resources needed to run each project.

Key Takeaways:

  • A good project portfolio management (PPM) tool is an invaluable asset for any organization that wants to be efficient, organized and on top of its game. 
  • PPM software can help you track your projects more effectively, plan ahead to avoid overspending and ensure that you’re meeting the needs of your customers.
  • While there are many platforms for project management, we recommend monday.com overall . ClickUp and Asana come second and third and have great free plans worth considering.

PPM tools have evolved from whiteboards and index cards to apps that track projects in digital form. Much like its predecessors, an electronic PPM system keeps track of all the important information about each project in one place.

It stores details about what the project is, who’s working on it, how much money or time has been spent so far, when milestones will be met and what those milestones are — even what tasks need to happen next to advance the project.

Check out our project management courses and grab a limited-time offer. Registration available now!

The best PPM systems make this information easy to find, understand and navigate. Our experts have reviewed dozens of project management tools to bring you this list. Keep reading to learn about our top five picks, including the overall best choice, monday.com . Alternatively, check out our best project management software roundup for a broader look at our experts’ all-time favorites.

Top Project Portfolio Management Apps

Logo: Smartsheet

What Makes the Best Project Portfolio Management Software?

The first thing our expert reviewers look for in a good project portfolio management system is that it allows you to manage a set of projects from one place, giving visibility into the total cost and expected return of each one.

It provides multiple features to help with the day-to-day running of projects. Chief among them is project roadmaps, which show a high-level overview of projects in progress, their statuses and which are due to be delivered next. 

Portfolio ranking is also essential. This feature shows which projects should be given higher priority based on factors such as profit and customer satisfaction. The best project portfolio management software also allows for resource optimization and risk monitoring, alerting portfolio managers when something isn’t going to plan, so they can take action. 

  • monday.com — Best overall portfolio project management software
  • ClickUp — Best free project management software
  • Asana — Feature-packed portfolio management software
  • Wrike — Portfolio management software with exclusive templates
  • Smartsheet — Spreadsheet-focused project management tool

The best PPM apps are monday.com, ClickUp, Asana, Wrike and Smartsheet. monday.com is the overall best project management software, and that extends to portfolio management as well. ClickUp and Asana have free plans better suited for teams and businesses, while Wrike comes with a bunch of pre-made portfolio templates. Finally, SmartSheet is a good option for those looking for something a bit simpler.

The 5 Best Project Portfolio Management Software Options

Without further ado, let’s start taking a deeper look at the five best project management software for portfolio management, starting with monday.com, which takes the top spot .

1. monday.com

monday.com portfolio

More details about monday.com:

  • Pricing: Free plan with two seats, paid plans start at $9 per month (one-year plan) per user
  • Provider website: monday.com
  • User-friendly
  • Feature-packed
  • Free plan & trial
  • Limitations on the free plan
  • Requires 3 users minimum

monday.com is the best project portfolio management software because it’s so simple yet powerful. You can quickly create and automate your project plans, then assign workflows, deadlines, tasks and milestones to everyone on your team. Since monday.com supports approvals and dependencies at multiple stages of the process, you can keep everyone up to date on every step of your project.

With monday.com’s Gantt charts, you get a clear view of your project’s progress by seeing all the tasks, their statuses and how much time is left until they’re complete. You can organize them into groups according to deadlines or milestones to make your project easier. You can also track the deliverable deadline of every task or milestone with no hassle.

monday.com gathers current data from all projects into a single workspace. Everyone has access to real-time information. It offers a variety of perspectives, including one that allows you to quickly grasp the larger picture. Additionally, it features automations, communication tools and customized dashboards.

monday cta

The free plan at monday.com is best suited for single users because it only includes two seats, has a 1,000-task cap and only offers the kanban board and basic list view. You are also limited to only 500 MB of storage. Try the service with a 14-day trial to access additional project views, limitless tasks and projects, and workflow automation.

Check out our monday.com review for detailed thoughts.

  • Maximum users: 2
  • Minimum users: 3; All prices per user
  • Enterprise-level features.

clickup portfolio

More details about ClickUp:

  • Pricing: Free plan limited to 5 projects, paid plans start at $7 per month (one-year plan) per user
  • Provider website: clickup.com
  • Incredible free plan
  • Affordable pricing
  • Unlimited files on paid plans
  • Clunky interface
  • Poor documentation feature

ClickUp is a portfolio management software that helps you organize your company’s strategic objectives in one place. With it, you can get rid of spreadsheets and organize your projects from idea to completion. It’s also one of the best web project management software in case you don’t want to bog your device down with app downloads.

Using a simple three-column design process, resource managers can set up project delivery, assign tasks to team members, keep track of the progress of each task in the portfolio, create task templates and more. It’s all built on top of a robust search engine, and you can tag items with any number of labels for easy sorting and rediscovery.

ClickUp also allows you to create milestones and set due dates. If you use it right, it’s possible to collaborate with your whole team and set a clear direction for the company’s objectives. Additionally, you can use ClickUp to measure your team’s progress by creating a mind map of all tasks that need to be completed or checking the number of hours spent on a project.

clickup cta

The free plan from ClickUp is jam-packed with features. However, you are limited to 5 spaces with a 100MB file upload limit and restrictions on advanced features like connectors, ClickUp dashboards , Gantt chart views and custom fields with a maximum of 100 uses for each. An upgrade can be worthwhile if you want to work with other suppliers or need advanced reporting options (including Agile project management).

Read our ClickUp review and ClickUp pricing guides to get more details. If you’re getting started with project management software, be sure to read our guides on how to use ClickUp and how to make ClickUp roadmaps .

  • Basic functionality with some limitations
  • All prices per user

asana portoflio

More details about Asana:

  • Pricing: Free up to 15 users, paid plans start at $10.99 per month (one-year plan)
  • Provider website: asana.com
  • Great features & integrations
  • Very good free plan
  • Limited export functionality 
  • Pricey packages

Asana — a great ClickUp alternative — is another project and portfolio management software that offers you ways to keep your team on track, accountable and motivated. With it, you can create workflows within your project to assign tasks and communicate, giving you an overall view of your projects. 

In Asana, one of the best ways to stay organized with multiple projects is reporting tools, which give you an overview of key information about each project and its progress. Whether you’re assigning tasks or tracking deadlines, these reports give you a clear picture of how work is progressing, helping you avoid bottlenecks in your process.

For example, you can use the task status report to view information about task completion rates and create a report that shows which team members need help with their work assignments.

asana cta

If you have more than 15 people, want sophisticated capabilities like file storage, expenditure tracking and custom fields or rule making, or wish to manage your workflows at a higher level by integrating external tools like Google Drive, Gmail, Zoom and others, then we recommend trying out a paid plan .

You can check our detailed Asana review for more.

  • Up to 10 users
  • Price is per user. unlimited users, expanded features
  • Price is per user. unlimited users, even more features
  • Custom pricing, advanced security features

Wrike portoflio

More details about Wrike:

  • Pricing: Free plan limited to 200 active tasks, paid plans start at $9.80 per month (one-year plan) per user
  • Provider website: wrike.com
  • Easy to use
  • Excellent security
  • Less aesthetic interface
  • Weird plan progression

Wrike is a powerful web project portfolio management application that brings project collaboration and project portfolio management together. At its core, Wrike is a task tracker and project execution tool that allows you to plan and organize your projects, run important reports for management, review project details on any device and share the results with colleagues in one click.

Wrike has a library of ready-made project portfolio management templates you can use as a starting point. Once you’ve identified the needs of the organization and matched them to the right template from those available, such as the invoice tracker, the monthly budget tracker and Agile teamwork templates, Wrike can help you begin creating and updating project portfolios with ease.

wrike cta

Wrike’s free plan is a wonderful place to start. It has a ton of features, including task and subtask management, live activity streams, and external and internal collaborators.

However, there can only be 200 active jobs at once and each account is only given 2GB of storage. Consider upgrading if you want additional user storage and sophisticated reporting capabilities, like interactive Gantt charts and sharing dashboards. Check out our Wrike review for in-depth details.

  • Unlimited users. Basic features.
  • Price is per user. Plans for 5, 10 and 15 users.
  • Price is per user. No monthly option. Plans for 5 to 200 users.
  • For large teams; Enterprise-grade security and scalability; Plans for 5 to an unlimited number of users.
  • For teams with complex work needs; Advanced tools and analytics for complex work; 5 to unlimited users

5. SmartSheet

smartsheet portfolio

More details about Smartsheet:

  • Pricing: Starts at $9 per month (one-year plan) , 30-day trial available
  • Provider website: smartsheet.com
  • Short learning curve
  • Good knowledgebase
  • Limited usage

Smartsheet is a cloud-based project portfolio management software that makes it simple for program managers to manage projects, partners and schedules. It features easy-to-use templates, charts and worksheets that you can customize to fit your business processes.

You can create simple project budgets or build complex ones with multiple currencies, multiple profit centers and rollups across levels. Read our monday.com vs Smartsheet comparison guide to learn how the two compare.

Smartsheet is one of the most intelligently designed portfolio management software options. It’s visual, intuitive and easy to use. Its demand intake module helps you identify opportunities and assess projects based on various KPIs. Its portfolio prioritization feature allows you to allocate resources more efficiently by giving you a better understanding of which projects will have the most impact.

smartsheet cta

Unfortunately, Smartsheet does not provide a free version of its software. That said, you can test it with its 30-day free trial . Read our Smartsheet review or check our how to use Smartsheet guide to get an overview of some of its basic features.

  • 1 user, up to 2 editors, Limited features, 500MB file storage,
  • Prices per user, Max 10 users Basic features, 20GB file storage
  • Prices per user, Three user minimum, Unlimited free users, Expanded features, 300GB file storage
  • Advanced features

What’s The Best Free Project Portfolio Management Software?

Depending on your usage and project requests, the best free portfolio management software might change. For example, if you’re an individual or a small organization looking to manage project portfolios within teams, ClickUp and Asana are incredible choices. Their versatile and feature-packed free plans are geared toward small teams.

However, if you’re looking to manage more than 100 employees, you might want to consider tools like Wrike or Smartsheet . They offer more robust features for managing projects for large teams and multiple portfolios. On the opposite end of the spectrum, teams of two or fewer people looking for a free option can still go with monday.com , the overall best choice.

Large-team organizations should consider paying for alternatives if they want something more advanced than the standard project management system. Although services like Wrike and Smartsheet don’t provide a free version of their software, the majority of companies do provide a brief trial period for their premium plans, so you can evaluate their features and determine if they’re worth the money.

Why Use Project Portfolio Management Tools?

Project portfolio management tools are invaluable to companies of all sizes, but especially those with more than a few projects going on at any given time. For people who are new to project portfolios or the concept of using software for project management, it can be hard to see how using such a tool can be beneficial. 

Project portfolio management software enables you to make data-driven decisions by providing a centralized view of your organization’s project portfolio. This allows you to clearly see the impact of potential decisions on your overall business. As examples, you could look at how much revenue would be lost if you delayed or canceled a project or the cost savings (or increased revenue) if you were able to shorten your schedule by three months.

Providing an easy-to-use interface for accessing all of your organization’s projects enhances collaboration because team members can quickly share information about a project with colleagues, including relevant documents and project updates. 

Final Thoughts

A project portfolio management tool can make all the difference for project managers looking to achieve their business objectives while juggling multiple deliverables. Be it capacity planning, resource utilization or task management, your project management processes can be more streamlined with the right software solution.

If you’re willing to pay, monday.com is your best bet . If not, consider ClickUp or Asana instead .

Software for project portfolio management comes in many shapes — some free, others paid. The best fit for your project tracking is up to your needs. What do you look for in a PPM tool? Are there any we missed that should be on our list? Let us know in the comments, and as always, thank you for reading.

Project portfolio management is a system for measuring a group of initiatives and deciding on resource allocation. It’s about making sure that you’re focusing your time and project efforts on the things that will provide the most benefit for the business and contribute to long-term growth.

First, it is important to identify problems occurring with the current project portfolio. Once these issues are identified, you can take action and start resolving them with the help of a PPM software.

monday.com is the only project portfolio management software that enables you to see the status of your active projects in one place at a glance.

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Project portfolio management software

Effortlessly manage your project portfolios, group and organize your projects.

  • Easily manage resources across a portfolio
  • Collect valuable project data & generate reports

Project portfolio management software with PPM tools such as customized dashboards

Intuitive PPM tools

Organize your projects, manage resources and generate detailed reports with our powerful and intuitive project portfolio management software.

Get live updates

Cloud-based project portfolio management software can track progress in real time and help you make data-driven decisions for better results.

Reach your goals

Build roadmaps for your portfolio so you can stay aligned with targets and surpass expectations—even for long-term projects.

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Keep track of your portfolio and glean insights into all of your projects with a high-level overview. Our project portfolio management software gives you the power to:

  • Track with portfolio dashboards that show six key metrics
  • Customize what project information is visible with filters
  • Organize your projects into folders and choose favorites to highlight

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Powerful project portfolio roadmaps

Our PPM roadmap collects all projects in your portfolio and displays them on one Gantt chart, equipped with resource management, time tracking and task management features.

  • Filter by assignee, project manager or customer to make forecasts
  • View which projects are open and who’s assigned to tasks
  • Highlight key metrics for stakeholders

ProjectManager's project portfolio management software showing a roadmap, one of its PPM tools

Customized project portfolio reporting

Keep your stakeholders informed and satisfied with both high-level and in-depth PPM tools to share your progress. Use dashboards for instant status reports, or create printable project management reports for formal meetings.

  • Easily generate reports on your portfolio’s status, tasks and timelines
  • Customize reports to highlight status, customer, priority and more
  • Build portfolio dashboards with filters for specific insights

The ultimate collection of PPM tools

ProjectManager's project portfolio management software gives you the task management, resource management and time tracking tools you need to manage multiple projects. Real-time dashboards, all-in-one roadmaps and multiple project views help you keep everything on track. We offer all these features and more:

PPM roadmap

Track your entire portfolio on a timeline with milestones and dependent tasks.

Resource management tools

Use our resource management tools to track resource utilization and streamline resource planning.

PPM reports

Generate customized reports for your project portfolios.

World-class security

Admins create permissions based on role to keep data secure.

PPM dashboards

Get a customizable PPM dashboard that allows you to filter for what you need.

Share & collaborate

Share projects with specific stakeholders, not the full portfolio.

Portfolio management overview

Get a high level view of your portfolio its key metrics for quick insights.

Real-time task tracking

See changes made to tasks and when the change occurred for faultless tracking.

PPM tools to manage any project, program or portfolio

See your portfolio how you want.

We have plenty of options to customize your portfolio overview. Here, you can set project status, project description, project notes and many more fields. Add as many columns to the overview as you need, naming them to match how you describe your process.

Project portfolio management software with role-based dashboard

Control passwords

Change passwords with one click on the backend instead of having to slog through other applications. When your IT department suggests changing passwords every six months, you can now do so quickly and easily. If an employee leaves, easily delete their access and keep your data secure.

PPM tools with security settings

Get only the data you want

Get information on only the projects you want to see in your portfolio. Filter by your favorites and see only those projects you’ve starred. Task reports have tags that you can use to filter and get data on selected projects. Tags that are on private projects won’t show unless you have permission.

PPM tools with team management and filters

Track time and teams

Track your teams’ hours and the time they spend on tasks to help you keep costs down. Our timesheets make logging hours easy and give you valuable data on team performance through our dashboard and reporting features. Reduce portfolio costs and improve productivity and deliverables with time management.

Project portfolio management software with timesheets and time tracking

Attach as many files as you need

Attach files to your tasks, project and portfolio and collect your important documents in one place with our unlimited file storage. Find what you need without needing to endlessly scroll through emails. Archive old projects and create historical data to help you better manage your current portfolio.

ProjectManager's PPM tools with unlimited file storage

Visibility into your portfolio

Quickly get insights on how your portfolio is performing in real-time and make data-driven decisions to keep it on track and aligned with your overall strategy. Email notifications are triggered the moment a status is updated to aid collaboration and productivity.

ProjectManager's PPM tools showing a project portfolio management dashboard

Integrate with over 1,000 business & project management apps

See all integrations

portfolio and project management software

Manage tasks right in your Gmail app. Plus, sync to Google Drive & your Google Calendars.

portfolio and project management software

Seamless importing and round-tripping of Microsoft Project plans, Excel files and CSV files.

Keep the data flowing when you connect with Salesforce via our Zapier integration.

portfolio and project management software

Share all your project conversations in your favorite Slack channels.

portfolio and project management software

View and update all your ProjectManager tasks in Jira for maximum efficiency.

portfolio and project management software

For more advanced integrations, take advantage of our custom API.

portfolio and project management software

Powerful for managers. Flexible for teams.

Trusted by 35,000+ users worldwide.

ProjectManager's project portfolio management software review from G2 for Project Management Software Leader in 2023

“The reporting feature is outstanding – lets you personalize the reporting, and export it.”

ProjectManager's project portfolio management software review from SourceForge for Top Performer in the project management software category in 2023

“It has an excellent price if we think about all the functions that ProjectManager has.”

Positive reviews from Trust Pilot in the project portfolio management software category

“I feel good about recommending ProjectManager because of the people you have in support”

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The 8 Best Project Portfolio Management Software (PPM) for Your Team in 2024

  • May 23, 2024

Table of Contents

Managing a project is complicated. Task dependencies, due dates, milestones, reporting — and all of that is just a fraction of the big picture when you are managing multiple projects at once. Fortunately, there are many project management platforms specifically equipped to help you manage not only a single project, but an entire portfolio of them. 

Known as Project portfolio management (PPM) software, these tools help organizations streamline and manage their multiple projects efficiently . This software provides a centralized platform to plan, execute, and monitor various projects, helping firms align their projects with their business goals.

Key benefits of Project Portfolio Management software

Project portfolio management software offers a range of benefits that contribute to enhanced project management and organizational success. Some key benefits of using a PPM platform:

1. Improved Visibility: With all data in a single dashboard, PPM software allows for comprehensive visibility into the entire project portfolio, enabling leaders to make informed decisions and prioritize projects based on their strategic importance.

2. Better resource management: PPM software facilitates resource allocation, ensuring optimal utilization of available resources and preventing overallocation or underutilization.

3. Informed decision-making: Viewing all current and future efforts in once place is helpful for project selection and evaluation, enabling organizations to assess the feasibility and potential returns of different projects before investing resources into them.

4. Enhanced collaboration: PPM platforms enable effective collaboration and communication among team members, fostering teamwork and enhancing productivity. Some of these tools (like Hive) even offer team messaging, native email, and video conferencing integrations within the platform.

5. Advanced reporting:  PPM software provides accurate reporting and analytics, allowing for better tracking of project performance, timely identification of issues, and the implementation of necessary improvements.

The Best Project Portfolio Management Software of 2024

Overall, PPM software significantly improves project management efficiency, enhances decision-making capabilities, and promotes successful project execution. If you manage multiple projects, it’s probably obvious that a tool like this can help — all you have to do is choose the best one.

With many portfolio management platforms on the market today, it’s important to pick the platform that fits well within your operational process and makes sense for you and your team. Let’s look at some of the top PPM software on the market in 2024.

Hive is a project management software platform that can be a great choice to showcase your portfolio of projects. It’s especially well-suited for businesses and teams that manage multiple projects simultaneously. Hive also comes equipped with multiple view options, a host of integrations and automation features that keep all your recurring projects and next steps moving forward.

When managing multiple projects, Hive’s Portfolio View is everything you need to see all your different projects in one place. It combines the d etail  of Project Navigator with the  flexibility  of a Table View. 

Think of portfolio view as a table with projects listed vertically on the left and fields and individual tasks on the horizontal axis. And here’s how they work: 

  • Fields  are the basic information about a project, such as its description, due date, status, and status description.
  • Custom fields  can be added to the project level to track additional information, such as the project’s budget or the assigned team members.

Hive’s Portfolio view makes it easy to see which tasks have been completed, which tasks are consistent across projects, and which tasks are overdue. You can also click into individual projects to view details in whatever layout you choose, including Kanban, Gantt, Table, Calendar or List views. The sky’s the limit with custom fields, too — add as much (or as little) information as you want into your individual portfolio views. Pro tip: Use Hive’s project portfolio template to get up and running in just a few clicks.

Cost: For light project management, Hive Free offers a free-forever plan for up to 10 workspace members. Hive Starter plans start at $5 per month, while Hive Teams plans offer unlimited projects for $12 per month. Find Hive’s full pricing details here .

Start a free 14-day trial today to see how Hive can help you manage your portfolio of projects.

Scoro offers a centralized view of all ongoing projects, providing real-time updates on progress, deadlines, and resource allocation. Scoro’s project portfolio management features enable users to track project profitability, monitor budgets, and identify potential risks or bottlenecks, ensuring optimal project performance. The platform also facilitates collaboration and communication among team members, enabling seamless coordination and efficient task management.

Cost: Scoro’s entry level plans begin at $26 per user, monthly.

3. Smartsheet

Smartsheet offers robust project portfolio management capabilities that help organizations effectively plan, prioritize, and execute their projects. Smartsheet’s portfolio view allows users to gain a holistic view of their projects, track progress, and make data-driven decisions. The platform also offers customizable dashboards and reports, providing real-time visibility into project performance and ensuring effective communication across teams. Furthermore, Smartsheet integrates with popular productivity tools, allowing seamless data transfer and collaboration.

Cost: Smartsheet offers a free plan for individual users. The Pro plan starts at $7 per user, per month, while the Business plan starts at $25 per user, per month.

4. Quickbase 

Quickbase is a dynamic workplace tool that offers project management and resourcing solutions. As a project portfolio management tool, Quickbase collects project data, keeps track of progress, and offers collaboration features to bring teams together online. By centralizing your project data in Quickbase, you can get real-time visibility into project progress, tasks, and resources — with the ultimate goal of making more informed business decisions.

Cost: Quickbase ‘s Team plan starts at $35 per user, per month.

5. Planview

Planview AdaptiveWork is a portfolio management platform designed for large teams and complex projects. Previously known as Clarizen, Planview AdaptiveWork helps project managers to gain real-time visibility across all their work, automate workflows and proactively manage risks. The tool is known for its project portfolio management capabilities, which helps teams to organize and align their initiatives keeping track of their resources and investments. Planview integrates with most common third party applications, such as Slack, Jira and Salesforce, and offers great customization and integration capabilities.

Cost: Planview AdaptiveWork does not have a free plan and its initial plan starts at $1,495/month. You can, however, get a free trial before making the commitment.

6. Airtable

As an extremely flexible and customizable project management software, Airtable can work as a portfolio management tool as well. The platform even offers some free and paid templates that you can explore to build your first portfolio management project. However, keep in mind that all the customization possibilities come with a bit of technical knowledge required, so you might need to work with an specialist to build a solution that works for you. With some Airtable Portfolio Management templates, you would be able to chart your team’s progress toward topline goals, define your targets, then break them down into projects, tasks, and timelines. You can also navigate with the flexibility of different views, from Gantt charts to grid views, calendars to kanbans. Cost: Airtable has a free limited plan available. Its Team plan costs $24 per seat monthly and includes 20GB of attachments per base, 50,000 records per base, access to extensions and more.

Wrike is a task management tool, but can also accommodate portfolio management as it includes features that help to connect strategy, planning, execution and results. Some of Wrike’s capabilities for portfolio management includes OKRs, Budgeting, Governance, Workload, Collaboration, Work views and Analytics. Wrike also has a library with ready-made templates to accelerate your process setting up portfolio management. The platform also integrates with over 400 third party apps, such as Zoom, Microsoft, Google Suite and others — which can make it easier to incorporate in your workflow. 

Cost: Wrike has a free 14-day trial and a free plan with limited features. Its Team paid plan costs $9.80 per user, per month but is limited to 25 users. If you manage a larger business, you will need to pay extra to use Wrike. Its Business plan cost $24.80 per user, per month. Other plans are available for enterprises, but you’ll need to contact their sales team.

pmo365 is a project portfolio management solution that can be deployed to your existing Microsoft 365 cloud. The platform allows you to combine real-time data with best practice business tools, customizations, and integrations for a better project portfolio management. 

If your organization already use Microsoft 365, onboarding to pmo365 should be easier and the learning curve shallow. Employees will already be familiar with its interfaces, limiting disruption to their work and productivity.

One of the advantages of pmo365 is that you only pay for a one monthly subscription fee. Plus, you will retain ownership of your entire pmo365 library and data — even if you allow your subscription to expire. Cost: pmo365 offers a free trial. Its subscription packages start at $2,600 per month.

Implementing the right project portfolio management software can help you streamline project workflows, enhance productivity, and enable your organization to drive successful project outcomes. What are you waiting for? Learn more about how you can use Hive’s PPM software today !

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Matthew Peng: How to find the right tool for the job

Some platforms for niche use cases don’t require much consideration – you can try, and if it doesn’t work as intended, you can move onto something

7 Best Project Portfolio Management (PPM) Software

portfolio and project management software

7 best project portfolio management tools shortlist

How to choose the best project portfolio management software  , 2. asana , 3. smartsheet , 4. runn , 5. monday.com , 6. liquid planner , 7. proofhub , which tool is right for your team.

A Project Portfolio Management (PPM) tool is software that helps professional service companies, like agencies and consultancies, manage multiple projects simultaneously. 

It gives you visibility into all projects in one central place, allowing you to track progress, meet deadlines, manage resources, and increase project profitability. 

In this article, we’ll break down 7 of the best project portfolio management systems to give you the insights you need to choose the best tool for your team.

Here’s out shortlist of some of the best project portfolio management tools.

ToolG2 RatingBest For
Scoro4.5/5Best for end-to-end project portfolio management and reporting
Asana4.3/5Best for task-based project management for portfolios
Smartsheet4.4/5Best for teams coming from a sheets-based project tracking system
Runn4.5/5Best for high-level portfolio management and forecasting
monday.com4.7/5Best for custom reporting on project and portfolio dashboards
Liquid Planner4.2/4Best for predictive insights to help you stay on top of your projects
ProofHub4.5/5Best for project management collaboration across teams

This will depend on your needs. But, you may want to consider the following criteria when choosing the best PPM software:

  • Project portfolio views: Roll up project data across multiple client projects to see progress, profitability, labor costs, and more
  • Resource management: To track utilization across entire teams and quickly identify availability for project staffing.
  • Time and expense tracking: To capture billable hours and auto-create invoices for simplified billing and revenue recognition.
  • Dashboards and reporting: Provide real-time, customized views of budgets, utilization, company revenue, and more.
  • Retainer management: Maintain visibility into all active client retainers and key details like amounts, billing schedules, contracted deliverables, and services covered.
  • Integrations: Connect seamlessly to existing tools like accounting, document storage, calendars, etc.

Now, let’s get into some of the top-rated PPM platforms agencies and consultancies rely on.

Scoro is an end-to-end project management software for professional services teams juggling multiple client projects . It acts as your command center to meet deadlines, manage resources, and increase project profitability. 

For example, Scoro’s “Project list” shows you key data across your entire portfolio, including: 

  • The progress bar visualizes your team’s tracked time on the project vs. the estimate 
  • “Income” shows project revenue based on issued invoices
  • “Labor cost” shows the internal delivery cost 
  • “Project profit” shows the total revenue from each project minus external and internal costs
  • “Average billable rate” shows the project revenue divided by actual hours spent

Default project list view in Scoro

By default, the “Project list” view tracks quoted vs. actual values for all the financial metrics. Estimated financials are displayed below the actuals so you can see how your projects are progressing at a glance.

Comparison metrics in project list view in Scoro

The “Project list” is also fully customizable. You can add or remove data columns to see what’s most important to you or adjust the exact data you want to monitor.

For example, you can group projects by “Project managers” instead of “Clients” to to get an at-a-glance view of each PM’s current responsibilities and workload. This lets you easily compare project metrics like budget, timeline, and scope across different PMs.

Project list view in Scoro grouped my project managers

You can also filter the data columns to show different data points depending on what’s important to you.

  • Project status
  • Scheduled todos

This customizable high-level view of all projects lets you compare performance side-by-side to identify your most and least profitable engagements.

Want to dive deeper into individual projects?

Click on any project to open it in a detailed view. 

You’ll then see a high-level summary of the project showing you key metrics like:

  • Remaining hours
  • Remaining days
  • Earned revenue 
  • Overdue tasks 

Project view in Scoro

Underneath the summary, scroll down to the Gantt chart in the “Tasks” section. This will be your key source of truth for time-based progress.

Project view in Scoro with timeline

See all your tasks in the timeline view, as well as in the sidebar, along with the estimated hours for each. Then, hover over any task’s progress bar to see tracked time versus estimates.

Project view in Scoro showing estimated time of tasks

With portfolio-wide visibility for decision-making combined with bottom-up project analysis, Scoro gives you actionable insights to increase profitability across your entire project portfolio.

What you’ll love

Scoro’s detailed project profitability insights are perfect for project managers to explore which projects and clients drive the most profitability for your business. 

Scoro can measure profitability in various ways, such as by project, client, manager, or individual project. 

Analyzing profitability from a client level gives you and your team a major leg up when it comes to pipeline planning and increasing profitability in the future. 

To do so, go to the “Project list” view. Click “View” and select “Grouped by: clients.” Then go to “Data columns” and include the “Project profit” column to see revenue after accounting for labor and expenses. Make sure to tick the “Summarize” box as well.

You’ll see your projects grouped by client, income, external costs, labor costs, and overall project profit from here. 

The “Project profit % (actual)” metric on the summary bar shows you which clients bring in a margin higher than the average (shown at the top of the chart). 

portfolio and project management software

These insights will give you all the information you need to analyze and compare projects and clients at a glance, helping you make informed decisions about resource allocation and pipeline needed to support your business and profitability. 

Core features  

  • Project portfolio overview gives you an at-a-glance of key project health, status and financial metrics to keep projects profitable
  • Internal time tracking makes it easy to get accurate details on how long tasks took and how it compared to your estimates
  • Granular resource management helps you find the right person for every task, optimize utilization, and ensure efficiency  
  • Real-time reporting allows you to drill down into the data you need, for instant visibility. 

Scoro has four plans:

  • Essential: $26 per user per month 
  • Standard: $37 per user per month
  • Pro: $63 per user per month 
  • Ultimate: customized enterprise pricing 

You can also try Scoro free for 14 days. 

Everything about your business, one click away

Asana is a work and project portfolio management system that helps you smoothly manage multiple projects while strengthening clarity, accountability, and scalability. 

Asana’s “Portfolio” dashboard gives you a high-level overview of all your projects. You can create a portfolio dashboard with all open projects or select only certain ones to include. 

Project portfolio dashboard in Asana

You’ll see all the projects associated with that portfolio, as well as their status, progress, dates, owner, and priority. 

You can add custom fields to this view to see metrics such as estimated time, project costs , team, and more. 

Toggle to the “Dashboard” view for a more visual representation of your team’s workload. From here, you’ll see a numerical breakdown of total, completed, and incomplete tasks across all projects, status, and other charts. 

Project portfolio dashboard in Asana

This is fully customizable, so you can easily get the necessary visibility to consolidate your project dashboards and reporting. 

When you want to drill down into the project level, click on a project from your portfolio to see all the important project details in the same tab. 

Status updates for a project in Asana

You can also go to the “Project” view to view the “Project Dashboard,” which has the same detailed project KPIs . 

Project dashboard in Asana

Within the “Project” view, you can also: 

  • add key milestones and dates to the project
  • create a project brief 
  • add and view tasks assigned to the project
  • assign team members to tasks 

Asana’s Gannt chart, “Timeline,” “Calendar,” “Board view,” and other views help you visualize progress and upcoming work to be done, along with task requests, backlogs, resources, and deadlines all in one place. 

Board view in Asana

With both high-level and more granular project and work management, you can keep all of your projects moving forward smoothly simultaneously. 

What you’ll love  

Busy project managers will love Asana’s “Portfolio Workload” view, which helps them understand resource conflicts, potential bottlenecks, and resource allocation. 

From the “Portfolio” view, toggle to the “Workload” tab. A capacity/utilization chart showing team member’s upcoming tasks and hours. 

Workload tab in Asana

If someone is overscheduled, you’ll see the day or dates they’re over capacity in red. Click on the caret by their name to view all the tasks they’re working on and when they’re assigned. 

You can drag and drop the task to reassign it to another team member or assign it to new dates. You can also click each task to view a pop-up with task details to get more details before making a change.

Workload tab functionality in Asana

This allows you to easily track deadlines, tasks, and team capacity, managing resources effectively and avoiding conflicts while keeping projects moving forward. 

  • Custom portfolio views let you group related projects together for an at-a-glance view of your portfolio health and progress 
  • Flexible dashboards show you the data that matters most to your team 
  • Automatic status updates keep all stakeholders in the loop about project progress
  • Workload and capacity planning views help you track utilization, forecast availability, and avoid resource conflicts 

Asana has five plans: 

  • Free: for individuals and small teams with basic features 
  • Starter : $10.99 per user per month 
  • Advanced: $24.99 per user per month 
  • Enterprise: custom pricing for enterprise-level features 
  • Enterprise+ : custom pricing for enterprise-level features and security 

Smartsheet is a sheets-based project management platform designed to help you streamline, manage, and scale your portfolio. 

Start with the “Portfolio Dashboard.” This dashboard helps busy project managers increase visibility and real-time reporting to key stakeholders through roll-up data on project status, schedules, and more. 

Project portfolio dashboard in Smartsheet

Project-level dashboards give you more insight into real-time data on your project progress, status, milestones and health. 

Project level dashboard in Smartsheet

Both customizable dashboards give you real-time insight into project status and health, project budgets , and team utilization. 

This helps keep projects on track and keeps key stakeholders and clients informed about the status of the projects. 

Project tracking in Smartsheet happens in a sheets-based view. You can clearly see, filter, and sort all upcoming tasks and projects by schedule health, date, assignee, completion, or another factor. 

You can view your work timeline in a Gantt-based view or calendar view to get a visual depiction of your upcoming work and adjust as needed to address schedule risks or resource allocations. 

Gantt chart view in Smartsheet for a project

If you don’t want to give up a sheets-based project tracking system, but want to increase visibility and reporting features, Smartsheet is a great option to bring your chaotic client work into one streamlined system. 

Smartsheet’s “Capacity” view is a great way to manage resources, improve utilization, and find the right team for upcoming projects. 

Go to “Capacity,” and you’ll see the utilization and availability levels for every team in a monthly planner. 

Blue blocks indicate availability, while red blocks indicate a team is over capacity. Hover over a block to see the total capacity, scheduled hours, and remaining hours. 

Schedule view in Smartsheet

To drill down further, click “Allocation Heatmap.” You’ll see every team member in that team and their upcoming utilization. 

Do you need someone to cover new work? Look for blank spaces or light blue blocks to indicate availability, and right-click to assign them a new task or project. 

Or, look for team members who are over capacity, with red blocks, to drill down into what projects are assigned to them and re-assign them to other team members with more space. 

Allocation heatmap in Smartsheet

Capacity and allocation heatmaps allow you to get a bird’s eye view of your team’s work, improve utilization for more profitable projects, and ensure your team can take on new work and deliver work on time. 

  • Portfolio reporting dashboard gives you a high-level overview of project health and profitability 
  • Integrated resource planning helps you build the right team for each project or forecast hiring needs
  • Time tracking tools give you essential data for invoicing, billing, and future project estimates 
  • Workload and capacity planning tools show you exactly who’s available, when, so you can boost utilization 

Smartsheet has a free plan and three paid plans:

  • Basic : Free for up to one user and 2 editors.
  • Pro : $7 per user per month
  • Business : $25 per user per month
  • Enterprise : custom pricing upon request

A 30-day free trial is available.

Runn is a resource management tool with features to make project planning and resource management exist hand-in-hand.

All projects in your portfolio are shown in the “Projects” view by default . You can see all your projects on a timeline, with key milestones on the time bar. 

Project portfolio view in Runn

For more details, click on any project to view scheduled phases and resources. Each resource scheduled will be listed below, and you’ll be able to see their allocations along the timeline. 

Project view in Monday

This is super helpful for getting a high-level overview of your entire portfolio, who’s assigned to what, and where your resource capacity, overload, and bottlenecks are. 

To view more data on your portfolio, head to “Reports” and then find the “Project Overview.” 

Here you’ll see all your projects at-a-glance again, but this time, you’ll also see key metrics like: 

  • T&M Benchmarks 
  • Project Revenue
  • Project Profit 
  • Project People Costs (based on scheduled hours and set labor rates) 
  • Project Margin 

Project overview in Runn

One unique thing Runn does is keep all the project details—from resource allocations to phases and milestones—in one view. 

If you don’t need granular task-planning detail, Runn makes it simple to see and manage all your projects at a glance, and focus on your more valuable resource: your people. 

At the same time, high-level project reporting lets you monitor revenue, profits, and margins in one dashboard, making it easy to increase project profitability and stay on track. 

Runn’s group utilization charts make it so much easier to manage resources and optimization. 

Find the charts under the “People” tab in Runn. 

From there, you can filter by role, team, employment type, or custom tags. Within your sorting groups, you’ll see utilization levels graphed on a chart. 

People resource chart in Runn

Blue indicates the current level of utilization. Red spaces indicate dates when teams or team members are overallocated. 

To examine overutilization, simply click the carets by the grouped tabs to see everyone included in that group or search for a specific team member. 

You’ll be able to see their exact scheduled projects and capacity, which will allow you to quickly spot gaps and reassign or move work as needed.  

Utilization analysis in Runn

The best part:

You can toggle on the “Tentative” filter to include tentative projects to your capacity and utilization charts, making it easy to see how projects in your pipeline will impact your utilization. You can also quickly identify availability for project staffing and set realistic timelines for projects in your pipeline. 

  • Streamlined project portfolio view shows you high-level progress and milestones, so you know exactly where things stand
  • Scheduled vs. budget planning markers let you track scheduled work against your budgets and keep projects profitable 
  • Scenario planning and forecasting tools show you how potential projects will impact workload, capacity, financials and more
  • Resource utilization heatmaps show you who’s over and under-utilized for better resource management 

Runn has a free plan and two paid plans:

  • Free : up to five users with unlimited projects
  • Pro : $8 per user per month
  • Enterprise : custom pricing for custom requirements

A 14-day free trial of Runn’s Pro Plan is available.

Monday is a project portfolio management software that helps connect strategy to execution. 

In the “Portfolio” section, you’ll get three main views: “Projects,” “Gantt,” and “Snapshot.” 

From the “Projects” view, you’ll see all of the projects included in your portfolio, along with high-level health indicators like: 

  • Project health 
  • Project progress
  • Priority 
  • Planned timeline
  • Actual timeline 

These indicators are color-coded, so you can easily monitor project status and see where bottlenecks or problems are happening. 

Project portfolio example in Monday

Switch to the “Gantt” view to see all your projects on a timeline view. They’re auto-sorted by “Off-track,” “At risk,” and “On track,” so you can quickly see what needs attention. 

Gantt chart view in Monday

Finally, if you’re ready to see details on individual projects, you can click into them from the sidebar of the “Portfolio” view. 

“Project” views show you all the granular details about your project. From here, you can easily manage project status and progress, and drill down into what needs to happen to get “at risk” projects back on track. 

Project view in Monday

All of these portfolio and project views allow team members and project managers to collaborate and quickly understand what needs to take priority to deliver on-time projects.  

The custom reporting features within monday.com help stretched-thin project managers who need real-time, customizable views of budgets, revenue, project progress, and more. 

To create your own reports, go to the view for any project and click the “+” button to add a new dashboard. Once in the dashboard, click the “+Add widget” button to choose from a variety of widgets to display your data. For example, you can add: 

  • Time tracking widgets
  • Gantt charts

Once you’ve added widgets to your dashboard, they’ll automatically populate with data from your project board. 

Custom project report in Monday

To customize what data each widget shows, click the three dots at the top right corner of each widget and click “Settings.” 

From here, you can choose the data you want to view, view options, labels, and more. 

With custom widgets and dashboards, you can pull in data from anywhere and create exactly the reports you need to monitor your entire portfolio or provide project and status updates to your executive team. 

  • Project portfolio views offer immediate visibility into project health, progress, workload, and more
  • Gantt chart views show you project milestones and timelines so you can monitor progress and identify bottlenecks 
  • Portfolio-level reports and dashboards let you visualize essential data and report to key stakeholders easily 
  • Time tracking makes it easier to accurately estimate projects and keep things profitable by monitoring budgets vs. actuals 

Monday.com has five plans:

  • Free: for up to two seats 
  • Basic: $9 per user per month 
  • Standard: $12 per user per month 
  • Pro: $19 per user per month 

A 14-day free trial of the Pro plan is available. 

Liquid Planner is a project portfolio management solution that uses predictive insights and analytics to help you better balance your resources and portfolios. 

Their high-level “Package” view shows your entire portfolio so you can get quick visibility into all your projects and their status. You’ll see projects grouped by priority, along with the “Active Tasks,” “% Complete,” “Total Work” in hours, and timeline for all of those projects.  To drill down further, click on any grouping to see the projects included and the breakdown of that data. 

From here, you can quickly see what projects are moving along smoothly, and which ones have blockers or bottlenecks. 

portfolio and project management software

For project-level details, click on the project title from this portfolio view to jump to the project “Dashboard.”

This provides an at-a-glance look at important project metrics like: 

  • timeline and projected finish dates
  • task statuses
  • workload and capacity for your team 
  • project progress and hours 

This is a great way to quickly assess the project’s progress and identify areas that need attention. 

Example of a dashboard in Liquid Planner

If you spot problems or potential bottlenecks, click the “Project” tab to see all the tasks in the project, as well as timeline and capacity. Here, you can see overdue projects that take longer than expected or need other attention. 

Project tab in Liquid Planner

With all your project data in one place, it’s easy to see what needs attention — and quickly make adjustments — or manage reporting and updates on your entire portfolio. 

Liquid Planner’s “Balanced Workload” feature helps project managers quickly see schedule risks, resource conflicts, and potential bottlenecks — and helps you know exactly how to take action. 

Start from the “Project View,” then filter your tasks by clicking the “Schedule Risk” filter from the toolbar dropdown. 

Now, you’ll see all the tasks at risk of creating bottlenecks or going over the timeline. 

Scheduled risk view in Liquid Planner

Once you identify where action is needed, the “Workload View” will help you decide what to do next.

In “Workload View,” you’ll see all team members assigned to work within this project. 

The “Scheduled Hours” column shows the work each person has scheduled, and the “Availability Used” column shows their current utilization, so you know who can take on new tasks. 

The table shows you how work is distributed so you can see exactly where those bottlenecks are occurring. 

Workload view in Liquid Planner

To fix it, click on any team member’s row to address the schedule risks or over-allocations. You’ll see which tasks are creating the schedule risk, and can choose to: 

  • assign the task to someone who can take it on sooner
  • prioritize a task to move it earlier in their schedule, or 
  • adjust time estimates to reduce scope

Workload view in Liquid Planner showing employee tasks

Using “Schedule Risk” and “Workload” in tandem allows you to quickly identify which tasks are backing up a project, actively manage your team’s workload, resolve bottlenecks, and improve utilization across the portfolio, ensuring projects stay on track.

  • Priority-driven project sorting keeps your whole team on the same page about where your focus should be 
  • Ranged estimates show best-case and worst-case scenario predictions to help manage unknowns 
  • Integrated time tracking lets you keep track of work being done and capture billable hours for billing and analysis 
  • Customizable dashboards give you real-time insights into the data you need

Liquid Planner has three plans:

  • Essentials: $15 per user per month 
  • Professional : $28 per user per month
  • Ultimate: $42 per user per month

A 14-day free trial of the Ultimate plan is available. 

ProofHub is project management and collaboration software that helps your team stay on the same page about project tasks, priorities, progress, and more.

To see your entire portfolio at a glance, go to “Projects” and then click “All Projects.” You can add additional sorting options, such as projects assigned to you or managed by you, status, or category . 

From here, you get a super high-level overview of the status and timeline of your projects, so you can see where everything stands. 

Project view in Proofhub

To drill down into project details, click on any project to go to the “Project Overview.” 

Here, you’ll find metrics and data on project tasks, milestones, discussions, time logged, and overall progress. 

Internal time tracking tools allow you to see estimated vs. actual time and the percentage of billable vs. non-billable time to help keep projects on track and profitable. 

Project overview in Proofhub

Once you’ve gotten a big-picture look at your project, keep track of deadlines and tasks with the “Gantt” views. 

“Gantt” view gives project managers a granular look at everything coming up for this project and how it’s progressing. 

From here, you can see all your project milestones and tasks on a timeline, the number of days assigned to the project phase, and the progress made so far. 

Gantt view in Proofhub

With all these views working together, you can seamlessly stay on top of project management and reporting. 

When juggling many moving pieces of multiple client projects, ProofHub’s “Files” feature will help you keep everything in one place. 

Under every project, you’ll see a “Files” tab, where you’ll find all the uploaded files associated with the project. 

File management in ProofHub

Once you upload a file, you can tag other team members or clients for notification and review. 

Click on a file to open the proofing hub. Here, you can view, annotate, and comment on files and images to get feedback and manage review processes directly within ProofHub. 

This simplifies the process of getting client feedback and making iterations and updates accordingly. 

File approval in ProofHub

In addition, keeping all your project files within your work management tool can increase visibility while also making it easier to track and organize files quickly and deliver quality work.

  • Board, calendar, Gantt views and more help you stay on top of project tasks, milestones, and deadlines
  • Time tracking shows you how the project is progressing in comparison to your estimates 
  • Custom templates and workflows let you easily manage and duplicate workflows, retainers , and project schedules
  • Built-in files management allow you to organize and share files for each project, provide feedback, and keep everything in one place

ProofHub has two plans:

  • Essential : $45 per month for up to 40 projects and unlimited users
  • Ultimate: $89 per month for unlimited projects and users 

A 14-day free trial is available. 

Finding the right portfolio management tool isn’t always easy.

Project managers must focus on juggling multiple client projects, tasks, deadlines, and milestones while managing resources effectively and keeping projects profitable.

For an end-to-end solution designed for agencies and professional services, try Scoro. Scoro has everything project managers need to increase visibility and collaboration, manage resources, and improve project profitability.

Start your free trial of Scoro today .

Rachel Bicha is a content writer and strategist for tech, SaaS, and travel companies. With 6+ years of experience managing content for brands of all sizes, from global enterprises to small startups, she knows how to create results-oriented content that ranks and resonates with readers.

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Best 7 Project Portfolio Management Software For Portfolio Managers in 2024

portfolio and project management software

Your decision-making is only as good as your information. When juggling multiple projects across an organization, it's not always easy to focus on the big picture and keep strategic priorities in mind. With project portfolio management software, you stand a chance.

Instead of getting lost in the minor details of day-to-day work and losing time and energy on the wrong projects, you can make the best use of your resources to drive your company forward to hit your business goals, achieve profitability, and your company vision.

This article will explore the best project portfolio management software to help you do that and more. But first, let’s look at what you should look for in a project portfolio management solution.

#1 Strategy Execution Platform Book a time to see the Cascade platform in action. Book a demo

What To Consider When Looking For A PPM Solution

A great project portfolio management software should give you peace of mind that your portfolio is delivering the best possible results and value for the business.

Here are the factors you should look out for when you’re choosing between PPM providers:

1. High-level visibility

Nothing is more important than having a bird's-eye view of what’s happening across your portfolio. Instead of getting lost in the unnecessary details of individual projects, project portfolio management software will give you this insight.

Here are some things to look at:

  • What are other customers saying about monitoring and visibility into portfolio status? For example, if people are complaining about complexity and getting lost in details, it might be a red flag.
  • What are the reporting capabilities? Will you be able to monitor data and track KPIs in the tool? Will you still need Excel spreadsheets and PowerPoint presentations?
  • Look at the user interface. How hard is it to navigate through software to get the needed information?

2. Ease of setup

The longer you spend on implementation and onboarding, the later you can start delivering results. Again, the most reliable way to check vendor capabilities is to check with their existing customers and their onboarding experience.

3. Integrations

Make sure you check all integration possibilities to avoid any unpleasant surprises and additional costs later in the process.

4. Customer support

Bringing a new tool into an organization isn’t exactly a walk in the park. You’ll want to make sure there’s a customer support team you can count on—because nothing is more irritating than a lack of responsive support.

Here are some things to look out for:

  • How quickly can you reach their customer support team? Through which channels?
  • Is support included in a pricing plan or do you need to pay extra?
  • How happy are existing clients with their support? Check the provider’s social media or online communities, and third-party review sites (such as G2, Capterra, and TrustRadius).

Some providers offer tiered plans, while others send you customized quotes based on your needs. Some even offer a free plan, so you try out the tool before committing to it. Pay attention to what’s included in the price. Double-check if there are extra fees for additional features, integrations, more users, or extra customer support.

6. Strategic contribution

A big differentiator between traditional and strategic PMOs is that the latter knows they need to align with the company’s overall strategic goals. The right portfolio management will help you to demonstrate how each project contributes to the company’s success.

📚Recommended read: Strategic Portfolio Management: An Overview (+ Template)

7. Security

Is the provider compliant with your security requirements? Look for a solution with enterprise-grade security (support for SSL and TLS should be standard) , with support for GDPR and anything else your industry requires.

Difference Between Project Portfolio Management Software And Project Management Software

Before we dive into the list of tools, let’s cover one common mistake that companies make while looking for the right project portfolio management solution.

Some brave souls still use project management software for project portfolio management. However, this approach is not ideal. The faster your company scales its operations and grows, the more control you need over what’s happening across your portfolio.

Here are some of the drawbacks of using project management software for PPM:

  • Easy to lose the strategic overview. With its task-oriented structure, your team can lose the context and clarity they need to connect project execution with the company's goals and vision.
  • Less than optimal use of resources. Without project portfolio management software, you can invest time and people in the wrong areas. Projects can conflict and compete for stretched resources, and your company pays the price by missing out on its strategic goals.
  • Takes time to collect data for reporting. Many project management platforms lack the integrations to unite your entire tech stack and organization under one roof.
  • You struggle to keep everyone aligned. Inevitably, you end up with silos, disconnected docs, spreadsheets, and projects—and a lot of wasted time as you try to keep everyone on the same page.

7 Of The Best Project Portfolio Management Software In 2024

Now that you know what you should look for in PPM software and why you should avoid typical project management solutions, let’s evaluate the market.

Below are the most popular project management solutions available today.

Check out information about each solution, along with key features, pros, cons, and pricing details.

cascade strategy execution platform product screeshot

Cascade is a strategy execution platform with a laser focus on progress and speed, along with a commitment to top-notch customer service. This all-in-one platform combines the most powerful elements of project portfolio management software , strategic planning solutions , and reporting tools, allowing you to centralize your strategy execution for better decision-making and faster results.

Since 2014, Cascade helps companies excel at strategies for growth, change management, and digital transformation. Our customers love the tool for its ability to keep all data in one place, track performance, and build quick reports to empower every stakeholder with insights on financials, capacity, and demand.

Being a strategy execution platform, Cascade is built for the strategic PMO who is looking to not only be able to manage the project portfolio but also understand how every project aligns with the overarching organizational strategy.

Using its real-time data, Cascade helps you confidently engage leadership in discussions about strategic priorities enhancing alignment and focus.

Cascade key features

  • Centralized project portfolio management (PPM) that drives focus to maximize results from your programs and portfolios.
  • Project planning, strategic planning , and road mapping for timely project delivery.
  • Customized real-time PPM dashboards with powerful filters to give you a high-level overview of what’s happening across your project portfolio.

PPM dashboard example in Cascade

  • Snapshot reports to help you identify risks and dependencies ahead of time.
  • Alignment & relationship maps that show you which teams are working together to make progress on each project, ensuring team collaboration.

Example of alignment map in Cascade

  • In-app comments for better project progress tracking —data served with context. ‍
  • Drill-down capabilities to dive into details of your project progress happening across different teams.
  • Real-time KPIs to track projects, objectives, and goals to help you deliver more effective performance and resource utilization.
  • ‍ 1000+ integrations with your favorite project management tools and financial systems —native and via api.
  • Financial management: Customization capabilities and app integration help you to pull from other business systems, like budgeting, spending, and potential benefit. You will be able to prioritize initiatives and resource allocation .
  • Demonstrate strategic contribution: With the Plan feature , you will be able to link every project, program, or portfolio with organizational strategy.
  • Ease of use and quick setup: Speed and usability are at the core of what makes Cascade the leader in its category.
  • Transparent pricing: Start with a free version, or get a custom quote from the Cascade team. There are no hidden fees for extra add-ons.
  • Customer support you can count on: Cascade’s support team will help you through email, chat, or phone no matter your plan. With paid plans, you’ll also get access to our experts who are all ex-consultants from top-tier firms across the globe to help you bridge the gap between planning and execution.

The stellar Quality of Support ratings show that this support team is no joke.

cascade quality of support

  • Strategy focus: Cascade puts focus on strategy execution through highly effective project portfolio management. While it does have some pretty cool project management software features, individual goals or task management is not its primary focus.

What customers are saying about Cascade:

“It's the only tool in our organization that provides a birds-eye view of our complete change portfolio and how what we are investing in is balanced across our strategic plan.” - Greer H. Principal Advisor to the CEO
"I like the flexibility of the system, which allows me to report up to the Executive Team and the Board while at the same time operationalizing our strategy. We can also prepare reports for other senior stakeholders. This allows us to have appropriate governance and transparency in our work, with little or no additional burden." - David O, InGeNA Program Director
“Cascade has given my company a single source of truth when it comes to our goals and what specific actions the business is taking to get there. The interface is flexible and customizable when it comes to including custom fields and aligning goals to multiple areas of focus. The Cascade team seems to be available around the clock for solving urgent asks and they have also been incredibly responsive when it comes to building custom solutions.” - Source

Source: Reviews taken from G2

  • Free forever plan
  • Enterprise plan: You get a customized proposal based on your business needs (perfect for larger organizations with multiple teams and enterprise project portfolio management).

Check out Cascade's pricing page for more details.

Are you ready to see Cascade’s powerful project portfolio management capabilities in action? Book a 1:1 demo with a Cascade expert.

Planview Portfolios

portfolio and project management software

Planview Portfolios (formerly Planview Enterprise One) is one of the oldest players in the project portfolio management space. Today, Planview is an end-to-end work and resource management platform that provides a wide range of features.

Key features

  • Gantt timeline view
  • Program management
  • Resource planning
  • Key Performance Indicator (KPI) monitoring
  • Portfolio management
  • Real-time notifications
  • Status tracking
  • Veteran player: Planview is one of the largest, oldest PPM providers in the work and portfolio management space.
  • Enterprise-oriented: They offer a comprehensive feature set or product bundles for enterprise-level needs, but what’s enough for some can be a drawback for others:
  • Enterprise focus only: For fast-growing companies or medium-sized enterprises who are just looking for a simple PPM tool, Planview Portfolios might be overkill.
  • Ease of use and setup: We’ve spotted many reviews that often report on overcomplexity and not being very user-friendly .
  • Expensive tool: There is no official data regarding pricing on their website, but based on user reviews , the pricing is high and usually related to a number of licenses.
  • Limited reporting system: It lacks flexibility and visuals .

Pricing is not available on their website. You must contact Planview to get a customized quote.

Want to see a more thorough comparison between Cascade and Planview? Here it is!

portfolio and project management software

Jira Align is part of the Atlassian suite of products. It’s an enterprise agile planning tool that connects business strategy with technical execution. Businesses can centralize all team-level data and KPIs and make them accessible to everyone in the organization in real-time. Jira Align is most commonly used by organizations that are already Jira users.

  • Data-driven agile roadmaps
  • Estimation comparisons
  • Financial analysis
  • Real-time forecasts
  • Resource capacity planning
  • Roll-up reporting
  • Helps allocate resources for every project, task, and team member
  • Avoid bottlenecks, as you can set and review dependencies
  • See and share real-time insights on projects
  • Focus on Agile: Jira Align is a perfect choice for large companies that have established commitment and ongoing adoption of agile frameworks . However, this might be a huge drawback for companies that are using a mix of agile and waterfall methodologies.
  • Detailed documentation: Jira Align provides a huge amount of training and documentation materials with a large user community.
  • Enterprise focus: Jira Align fits best with customers who have at least 500 developers using Jira and 30 minimum Jira Align licenses.
  • Pay more for extra services: Do you need help with onboarding? You will have to consider additional costs for onboarding services.
  • Integrations: Third-party app integrations with “no-code” are not available, and existing integration options require system administrators to configure them.

Jira Align is suited to large enterprises with at least 30 users minimum, with standard pricing starting from $27,000.

portfolio and project management software

Shibumi is another cloud-based strategic program & portfolio management software that businesses can use to optimize and accelerate strategic planning and implementation. This platform helps C-suite members, PMOs, and IT leaders map and organize their project portfolios , track progress, and make more effective, informed decisions.

Despite the lack of user reviews on the internet, we pulled some information to give you a better understanding of their offer:

  • Customizable dashboard to get accurate insights to guide better decisions on every step
  • What-If Scenario Modeling
  • Interdependencies & Capacity Mapping
  • Idea management
  • KPI monitoring to identify and track metrics that relate to your business objectives and company vision
  • Roadmapping
  • Enterprise-grade security: They are focused on the enterprise market and offer high-level security and compliance for large organizations.
  • Complex use and setup: Onboarding is complex, and the user interface isn’t always intuitive . ‍
  • Lack of documentation: Lacks online support resources, interactive training, or community

You must contact Shibumi for customized pricing.

portfolio and project management software

Wrike is a work management platform with a heavy emphasis on project management use “to streamline all workflows” —as their tagline says. It’s a cloud-based project management application that helps organizations track and coordinate projects and promote cross-functional collaboration . While users love Wrike for task and project management, you can also use it for project portfolio management.

  • Gantt Charts
  • Project templates
  • Task Management
  • Forms to manage project requests
  • Kanban boards
  • Automated approval process
  • Time tracking and reporting to monitor project performance
  • Support for Agile and Waterfall methodologies
  • Department-specific solutions: They offer many pre-built templates for everyone, including marketers, creative teams, professional service organizations, etc.
  • Reliable service: Wrike has a 99.9% uptime.
  • Mixed user experience: We've noticed occasional reports of poor user experience and steep learning curves for first-timers .
  • Pricing: For Wrike Business plans and above only annual contracts are available. Some users flag this as a risk.
  • Limited mobile app : Though Wrike has a mobile version, users share it doesn't function the same way as the desktop app and has several limitations.

Wrike offers a free version for teams that are just getting started. It has 4 paid plans :

  • Team plan—$9.80/per user per month
  • Business plan—$24.80/per user per month
  • Enterprise plan & Pinnacle plan—no pricing available; you need to contact the Wrike team.

Planview AdaptiveWork (formerly Clarizen)

portfolio and project management software

Planview AdaptiveWork (ex Clarizen) is a heavy-duty Saas tool, acquired by Planview in 2021. It is an online project management service that connects work across the enterprise. Its focus is more on project management, workflow automation, and collaboration that help enterprises turn ideas into strategies , plans, and meaningful action.

  • Project portfolio management
  • Capacity planning and resource management
  • Document management
  • Reports and dashboards
  • Configurable workflows
  • Time and expense tracking
  • Project budget tracking
  • Team collaboration
  • An excellent “all-in-one” tool: It is a complete solution for multiple kinds of project and portfolio management business area.
  • Reporting capabilities: Real-time insights help you understand the status of your goals and objectives.
  • Update on the go: Intuitive mobile app improves engagement.
  • Focused on the enterprise: Clarizen is focused on providing everything the largest businesses could need; as a result, its complexity might be overwhelming for fast-growing companies that need to be agile and fast.
  • Task-oriented: Its structure pulls focus from strategy and big-picture goals.
  • Mixed reviews on ease of use: Slow , unresponsive program may cause frustration.
  • Inflexible pricing: While some users have no complaints, some share dissatisfaction about additional costs when you need an extra option in your tool.

portfolio and project management software

Microsoft Project is one of the popular choices with project managers for project and portfolio management. Companies can use this platform to create and manage centralized management systems, optimize portfolios, prioritize resources and projects, and guide team members through implementation to achieve strategic objectives.

While it’s a perfect choice for teams with a smaller number of projects, it has limited features for someone who manages large project portfolios.

  • Cost management
  • Project Scheduling
  • Risk Management
  • Reports in various graphical formats and multiple timelines
  • Task management
  • Built-in templates and workflows
  • Available on-premise or in the cloud
  • A large user base: MS Project is one of the oldest software solutions in project management with a huge community.
  • A Microsoft product: For any user used to Microsoft's Software Family, the user interface and navigation will be very easy to understand and use.
  • Lacks integrations: MS Project integrations are limited to Microsoft applications, which might be a problem if you also use other tools outside the Microsoft ecosystem.
  • Lack of collaboration: In-app communication is limited as it does not support any third-party communication tools.
  • Requires lots of training: While some users love MS Project, we’ve spotted some that report it takes time to understand all possible features and functionalities , which can lead to slower onboarding and a lower adoption rate.

MS Project doesn’t have a free plan, but you can try it for free for one month.

The paid plans for cloud-based solutions start from $10/user/month.

Get Cascade For Speed And Results

A project portfolio management tool should give you a high-level overview of what is going on across your entire project portfolio so you make smarter decisions and get the most value from your people, budget, and time.

If you are looking for a tool that is easy to get up and running with, but doesn’t skimp one bit on features that will massively improve your portfolio management , then Cascade is your new favorite portfolio management solution .

Approved by more than +45,000 teams, Cascade is the best platform to manage your portfolio and ensure you take ideas to implementation—it’s built for strategy execution. You can bring your people together on this platform to make collaboration flow and align each project with the company's goals.

Ultimately, Cascade platform bridges the gap between the strategy leaders and those handling on-the-ground execution, helps everyone see faster results on every project, and ensures your organization can respond fearlessly to change.

Are you ready to take charge of your project portfolio management? Book a free Cascade demo today.

Disclaimer: We’ve done our best to give an honest overview of all the great tools that are out there. If you spot a mistake, please let us know.

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  • IT applications, infrastructure and operations

TechTarget's introductory guide to project portfolio management examines the nuts and bolts of PPM, laying out the steps involved in the process, its benefits and challenges, and how it differs from other approaches organizations use to maximize the value of their projects. We also delve into the broad market of PPM tools and software, including their ongoing adaptation by vendors in response to new ways of working and the need for enterprises to pivot quickly in the face of global crises, such as the COVID-19 pandemic and the war in Ukraine. Throughout the guide, there are hyperlinks to in-depth explorations of these and other relevant PPM topics, as well as to definitions of key concepts such as Agile project management, value stream management and risk-reward ratio.

Best project portfolio management software and tools in 2023, project portfolio management software and tools in 2023 promote strategic management of projects and agile tactics. read our ppm list for guidance on which tools do what..

George Lawton

  • George Lawton

The tools and software used by enterprises for project and portfolio management ( PPM ) are evolving in response to workplace trends, including the rise in working from home, enterprise adoption of new cloud architectures and growing economic uncertainty.

PPM tools are designed to help improve strategic planning across a portfolio of multiple projects. They sit atop project management (PM) tools, which help teams coordinate the people, materials and equipment involved in individual projects. PM tools, in turn, have evolved to support digital transformation initiatives: Modern workflow management tools help harness a collection of tasks for digital production workflows, using new planning techniques like Kanban boards .

PPM tools help ensure a business's entire portfolio of projects is strategically aligned with enterprise goals by prioritizing and sequencing tasks based on estimated costs, benefits, risks and constraints. In the past, PPM encompassed a broad class of planning tools used primarily by a small group of professional project planners. But recently, Gartner has broken the PPM market into two disciplines -- strategic portfolio management (SPM) for longer-term planning and adaptive project management and reporting (APMR) for more tactical and continuous decision-making -- marking a bifurcation in PPM tools. A few vendors are starting to bring these capabilities together into more comprehensive offerings, although it's still early days for this kind of integration.

This guide will help you understand the broader evolution of these PPM tools with an overview of their benefits and key capabilities. We also include a brief overview of some of the top PPM tools, according to industry experts.

This article is part of

Project portfolio management: A beginner's guide

  • Which also includes:

Project vs. program vs. portfolio management

10 challenges in project portfolio management adoption

10 benefits of adopting project portfolio management, what are ppm tools and software.

Every company has various projects vying for budget, staff and executive attention. Sometimes these projects complement each other. Other times they compete with each other, and in some cases, they do both.

For example, a business team might propose a project to roll out a new SaaS-based offering to customers. The initiative hinges on the completion of work by various groups: The IT department needs to set up a new billing system. The finance department needs to set up a new accounting process for the change in revenue streams. And the legal team needs to work with the finance and business teams to assess the financial impact of different terms and service agreements.

Each one of these projects takes time and money. The company can't sell the new SaaS service until the billing system is set up. But then setting up and integrating the billing system will require having a better understanding of how the new service will be delivered. The IT department must also work with the finance department to determine which tools or services might best align with their desired workflow.

In the old days, people just put all of these things into a spreadsheet to store and share numbers about different scenarios. But things can get complicated as the number of projects, dependencies and metrics grow. This is where PPM tools come in. They provide an integrated whiteboard for each team to share their understanding of their requirements, estimated costs, benefits, risks, timeline and dependencies with the broader organization.

If circumstances change, individuals can update a new assessment into the tool, which gets propagated to enterprise planners and other project managers. PPM can also identify opportunities to spend extra money to push critical projects through that are holding up others -- or to put other projects on hold until a new infrastructure project is complete.

Benefits of PPM tools and software

PPM tools and software can boost the value of projects by enabling enterprises to do the following:

  • allocate assets more efficiently;
  • coordinate competing goals from different departments and business teams;
  • drive operational efficiency;
  • improve productivity;
  • minimize project dependency bottlenecks;
  • prioritize the highest-value projects;
  • reduce duplication across projects; and
  • spread risks across multiple projects.

Key capabilities of PPM tools and software

The capabilities of PPM tools vary widely across vendors and use cases. Generally speaking, they all offer the following core capabilities to different degrees:

  • improved planning and prioritization of projects using various scenario modeling, strategic roadmap and customer scoring techniques;
  • strategic alignment across teams and departments by using agreed-upon objectives and key results;
  • ability to reflect business goals in the context of specific projects and workflows;
  • resource management tools to estimate the cost of new projects and track the actual time required to improve future estimates;
  • task management capabilities for remote collaboration;
  • financial analysis capabilities to help craft initial estimates and update these based on new circumstances;
  • risk management capabilities for identifying dependencies and resolving issues more quickly; and
  • reporting capabilities for assessing progress and identifying obstacles.

Best PPM tools and software

Various PPM tools support SPM, APMR and sometimes both capabilities.

SPM starts with a big-picture approach to help align enterprise-wide strategy and execution. It includes features to help define key business strategies and desired outcomes. It also provides tools for identifying the talent, technology and activities that can help achieve those outcomes. This can help PPM teams prioritize specific projects and products.

APMR takes a more bottom-up approach. It includes capabilities that help teams promote continuous collaboration, adapt to changing customer needs and improve execution, informed by various metrics. These tools help align communication and collaboration across many project teams, guiding ongoing project execution and enabling adaptations as required.

Some vendors are starting to combine both capabilities. Examples include Planisware, Planview, Sciforma and ServiceNow. It is worth noting that these vendors are still in the process of developing these integrations. In some cases, the tools arose from different acquisitions or development efforts, and some work and additional licensing fees may be required to get SPM and APMR capabilities to work together for a given organization.

Here is a selection of the best PPM tools and software, listed alphabetically.

List of best project portfolio management software and tools in 2023

Broadcom Clarity PPM and Rally Software for large-scale projects

Broadcom Clarity supports enterprise-wide PPM, while Rally adds the ability to connect projects with value stream management capabilities. This combination promises to redefine how an enterprise can plan, execute and track work. Clarity can help improve strategic planning and prioritize investments, and it supports project tracking. Rally helps align these with Agile development processes across Broadcom's extensive development and testing tools collection.

This is a good fit for larger organizations, particularly in manufacturing, finance and healthcare. Clarity also supports extensive roadmapping capabilities to help align long-term plans with tactical execution. It also can help organize a collection of projects into a hierarchy to improve management, reporting and governance.

EOS Software simplifies IT integration

The EOS Software ITPM platform was designed to coordinate the work of strategy realization officers, program managers and enterprise architects. It has several features for adaptive planning, application portfolio management, scenario planning and resource management. It is a solid option for improving the connectivity between strategic planning and new IT services.

EOS Software partnered with Planisware, another PPM vendor, to enhance IT integration across both tools. The tight integration with IT systems helps visualize connections between business strategies and applications, services or other IT resources.

KeyedIn Solutions helps transition from project delivery to portfolio value

KeyedIn has traditionally focused on improving project management through KeyedIn Projects. KeyedIn Enterprise extends these core capabilities to support enterprise PPM, SPM and adaptive project management. Its enterprise tools help model enterprise initiatives or improve digital transformation efforts. Essential capabilities support strategic alignment, portfolio selection and prioritization, and resource capacity planning. It integrates with various tools, including Jira, Microsoft Project, Microsoft Power BI, Salesforce and QuickBooks.

Monday.com streamlines work and project collaboration

Monday.com's APMR capability improves project and work management in hybrid office scenarios. It provides several templates to help organizations quickly get started. An extensive suite of collaboration tools can help organizations coordinate more efficiently across the office or the world. These tools promise to help boost a team's alignment, efficiency and productivity through customized workflows. Organizations can also create customizable dashboards to improve decision-making. It also supports project management, portfolio management, project planning and risk management capabilities.

ONEPOINT Projects supports waterfall and Agile projects

ONEPOINT Projects is focused on APMR capabilities. One vital feature is the tool's support for both traditional waterfall and Agile project methodologies. This enables enterprises to combine both approaches for different use cases. It supports various dashboards and charts to surface project and portfolio progress in real time and includes connectors for various popular tools, including Excel, Slack, Jira, Confluence, SAP and Microsoft Project.

Planisware transforms vision into reality

Planisware provides a single shared view across project and portfolio management functions. It combines strong dashboard capabilities with industry best practices. It has good support for both APMR and SPM. It also supports process automation to help prioritize initiatives, organize resources, and coordinate execution. It is widely used by larger companies in industries like financial services, life sciences, and manufacturing.

Planview connects architecture to business goals

Planview is one of the larger PPM vendors on this list. It supports a comprehensive set of APMR capabilities through Planview PPM Pro and Planview AdaptiveWork (formerly Clarizen). enables businesses to pivot quickly when needs change.

Planview also supports SPM capabilities. The company has grown through many acquisitions, including Troux, Projectplace, Innotas, LeanKit, Clarizen, Changepoint, Spigit, Tasktop and Enrich, and it has been integrating these new capabilities into its core platform. The combination of these tools can help connect strategic planning with enterprise architecture.

Proggio builds a project map

Proggio has powerful APMR capabilities that support project and work management. It supports a novel approach to data presentation that uses connected layers to create a digital map of project and portfolio progress. Users can zoom out to view the entire portfolio, zoom in to explore project workstreams and zoom in further to examine individual activities or specific bottlenecks. This simplifies navigation, and users can easily make changes when updates are identified.

Sciforma combines portfolio and work management

Sciforma has long supported various SPM and APMR capabilities that have evolved over the last 30 years. In December 2022, it announced Sciforma Vantage, which combines PPM with collaborative work management. This helps organizations formulate strategy, prioritize projects, track progress and manage projects within a single connected tool. The core Sciforma platform has been widely used across several industries, including biotech, financial services, healthcare, manufacturing and telecommunications.

ServiceNow aligns IT with business objectives

ServiceNow has a strong presence in cloud-based IT service management. It recently rebranded its IT business management offering as ServiceNow Strategic Portfolio Management. Its strength lies in connecting business planning with actual IT infrastructure. This takes advantage of ServiceNow's extensive monitoring and reporting capabilities. The offering supports performance analytics, demand management, resource management and innovation management. It can also help teams simulate and compare potential outcomes with scenario planning. It can align new plans with application performance management to monitor the effects of new programs on IT infrastructure. An additional advantage is the ability to automatically implement new ideas through ServiceNow's low-code tools and assess the results before scaling them up.

Shibumi for ease of deployment

Shibumi is provisioned as a cloud-based PPM service. The company highlights its ability to provide a single source of truth with real-time visibility. It includes tools that surface both financial and nonfinancial metrics and results. A template library helps executives make informed decisions through support for program status and KPIs.

One powerful feature is direct integration with various robotic process automation tools from Automation Anywhere, Blue Prism and UiPath. It also supports AI integrations with Dataiku, DataRobot and IBM Watson to help improve predictions and planning. These integrations help speed up the time to value to help teams quickly jumpstart deployment and adapt to new goals.

Smartsheet connects the dots between strategy and execution

Smartsheet started out as a better spreadsheet for collaboration. Over the years, it has expanded into various areas, including PPM. It provides a variety of customizable templates that help companies and departments get started with individual projects and then connect them into portfolios. It supports an extensive set of integrations into tools from ServiceNow, Google, Microsoft, Slack, Salesforce, Jira and dozens of other companies.

One of its core strengths is its simplicity. The familiar spreadsheet-like interface provides many ways for business users to extend it to different use cases. This helps teams bring in data from third-party apps, automate processes and customize workflows.

Software AG Alfabet provides comprehensive capabilities

Software AG has been building data and software development tools since 1969 and acquired Alfabet PPM solutions in 2013. It combined these tools with its other ARIS process modeling products and has continued enhancing its PPM capabilities' breadth and depth. The result is better linkage between the interdependent perspectives of IT, business, finance and risk, giving PPM teams the ability to better understand the impact of new ideas. It also supports built-in enterprise architecture capabilities.

Teams can describe IT systems in terms of application, information and technical layers. This knowledge can also guide the development of standards to harmonize projects and infrastructure and to reduce operational costs. At the same time, it helps less technical users create reports, explore the impact of new ideas and update plans. It comes with an extensive set of AI and machine learning capabilities for discovering portfolio shortcomings,

UMT360 drives business agility

UMT360 Strategic Portfolio Manager was specifically designed to help drive business transformation. It is a cloud-based platform with separate modules for analytics and enterprise integration. The company acquired FIOS Insight in 2021, which added enterprise architecture capabilities for analyzing existing IT systems and planned changes. It also supports a collection of industry reference models to guide new projects, with best practices for the appropriate architecture.

One essential aspect is support for packaged applications (called Accelerators) that help customers get started quickly with a base level of capability -- laying the groundwork for adding more modules later. These modules support what-if analysis, resource planning and benefits realization. The platform also supports an extensive array of integrations with other tools, including Jira, Oracle Fusion Cloud Financials, SAP and ServiceNow.

WorkOtter provides prescriptive guidance

WorkOtter is a cloud-based PPM tool with a powerful set of APMR capabilities. A core strength is that it provides templates and best practices that help teams follow project management industry best practices. It can deliver prescriptive guidance to help projects and portfolios meet goals and adapt when required. It also supports a variety of financial management capabilities to help evaluate tradeoffs across labor, capital expenses, operational expenses and quoted versus actual costs.

How to choose the best PPM tool or software for your business

Project and portfolio management is a vast field with considerable variation across its range of tools. Where to begin?

It is probably helpful to start by inventorying what business managers are already using to manage projects. If managers are happy using Excel, it may make sense to shortlist other relatively simple PPM tools. If you have an extensive SaaS portfolio, exploring some of the other SaaS-based PPM offerings may make sense.

Many of the most popular PPM tools make it easy to get started and kick the tires in a short period. Trialing the tools can give you an idea of how they work and how they might simplify project planning and management, as compared with your existing approach. Testing tools can also help define and refine the capabilities your business needs.

Once your team has identified what capabilities they are looking for, then you can start to explore some of the more sophisticated offerings. It may be that the essential tools are good enough for the long haul. Even relatively simple ones have reported very high ROIs, and the ease of use can boost adoption.

However, it is also worth investigating how some of the more sophisticated tools are pushing the cutting edge. It is also worth keeping an eye on upgrades to your favorite options. New AI capabilities are rapidly evolving. These can both simplify the project and portfolio management experience while simultaneously ingesting and contextualizing data from more sources.

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Project Portfolio Management Guide

By Kate Eby | August 10, 2017 (updated March 27, 2024)

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Project portfolio management (PPM) can help businesses manage their resources and establish an efficient project prioritization system. In this article, you’ll learn everything you need to know about PPM and find best practices.

Included on this page, you’ll find tips and best practices , a downloadable facilitation kit , and information on how to choose the right tools for you .

What Is Project Portfolio Management?

The term project portfolio management (PPM) refers to the way a team efficiently organizes and manages groups of related projects to achieve strategic goals. Managers prioritize portfolios using predetermined criteria, and allocate resources according to priority level. 

The objective of project portfolio management is to increase efficiency by implementing a repeatable, criteria-driven process to choose and prioritize upcoming projects. The main goal is to successfully evaluate your projects’ probability of success, while accounting for any risks, and to schedule them in a way that maximizes the utility of an organization’s resources. A successful strategy will evolve with the organization as needs change.

You can tailor project portfolio management strategies to any internal department, and scale it for any size or volume of projects. Common types of project portfolio management include enterprise project portfolio management , which refers to large-scale initiatives responsible for evaluating every project across all departments, and IT project portfolio management , which includes projects run within the IT department. For more information, check out our guide to the project portfolio management process .

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Project Portfolio Management vs. Program Portfolio Management

Project portfolio management refers to the large-scale management of projects within a company, which may not be related. Program portfolio management is the supervision of groups of projects that are related, and share strategic goals. 

portfolio and project management software

Alan Zucker , a project management professional for over 25 years, gives an example of the difference between the two: “For example, an automotive company manages a project portfolio that includes all of the cars, trucks, and SUVs in its product line. There may be a separate portfolio dedicated to managing SUVs that includes managing the existing suite of products as well as developing new models. The effort to develop a new SUV model would be a program [that consists] of several interrelated projects that need to be coordinated. There would be individual projects to design the engine, interior, exterior, and more that are part of the new SUV model program.”

Project Portfolio Management vs. Project Management

Project management refers to the facilitation and supervision of a specific project and team by a project manager. Project portfolio management prioritizes the many projects within a company and manages the time and resources needed to complete them.

The Project Management Institute (PMI) defines project management as “the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.” 

portfolio and project management software

Joe Pusz is the Founder and CEO of The PMO Squad , a project management consulting firm. He clarifies the difference between the two terms. “Project portfolio management is doing the right project or program at the right time. Project portfolio management is a strategic function, while project management is the delivery of work as prioritized within your portfolio decision making.” Ultimately, project portfolio management is the strategic framework that drives decision making when carrying out projects or programs.

What Are the Objectives of Project Portfolio Management?

Project portfolio management has many objectives. The main goals of project portfolio management are to establish consistent and effective prioritization strategies and efficient resource management, and to facilitate executive decision making.

  • Effective Prioritization: Successful project portfolio management hinges on prioritizing projects effectively. Projects should be prioritized by predetermined criteria and monitored over time.
  • Efficient Use of Resources: Managing your project portfolio means ensuring that you allocate resources — including time, money, and labor — as efficiently as possible.
  • Facilitate Executive Decision Making: When properly managed, a project portfolio is well organized and easy to look over. When executives have easy access to clear information, it makes it easier to make informed decisions.
  • Visibility and Communication: A well-run project portfolio makes project statuses visible and reduces the need for excessive communication. Team members should be able to answer many of their own questions by looking at project dashboards and reports.
  • Encourage Executive Buy-In: A history of successful project portfolio management increases executive confidence in managers and their teams. They are more likely to back projects led by these teams in the future.
  • Project Completion: The ultimate goal of project portfolio management is to complete more projects on time and on budget.

What Is the Role of a Project Portfolio Manager?

A project portfolio manager oversees individual project managers and ensures that projects align  with company goals. A successful project portfolio manager makes sure that deliverables are on time and consistent among departments and that resources are allocated appropriately. 

A project portfolio manager can also act as a liaison between individual project managers and executives. They have a unique insight as to how projects and departments interact and help determine the ultimate direction of a company by prioritizing projects accordingly.

Why Do We Need Project Portfolio Management?

As a company grows and takes on more projects, portfolio management becomes more and more critical. Project portfolio management provides a big-picture view of all potential and ongoing projects, which allows executives and managers to make more informed decisions about their business.

“Project portfolio management has helped our managers effectively manage time, skills, resources, and budgets. It has made it much easier to accomplish many tasks, especially in situations where our managers have to multitask. Implementing project portfolio management has ensured that our company operates with minimal risk by providing managers with centralized visibility of project information for all projects,” says Sam Shepler , the Founder and CEO of Testimonial Hero.

The main benefit of project portfolio management is that it grants visibility into every aspect of your project portfolio management process, including budget, resources, risks, status, and the decisions themselves. Project portfolio management software can standardize processes and eliminate discrepancies by documenting all communication, decisions, and evaluations that occur in the project portfolio management lifecycle. Additionally, many tools — reporting, data analytics, dashboards, etc. — enable higher-level functionality to grant visibility into your decision making. For more information, read our guide to the pros and cons of project portfolio management .

Components of Project Portfolio Management

There are four main components of project portfolio management. You must develop a strategy, define an enterprise framework for your organization, determine criteria and prioritize your project portfolio, and maintain and make changes to it as needed.

Here’s a bit more information on each component:

  • Strategy: Develop your approach to project prioritization management. Determine what is most important to your business, and outline your portfolio management goals.
  • Enterprise Frameworks: Take note of the ways that various projects and departments interact with each other, and create a framework that supports those interactions. There are many approaches to project and portfolio management — read our guide to project management frameworks to learn more about what is right for your organization.
  • Portfolio Prioritization: Project prioritization is essential to successful portfolio management. With the input of all key stakeholders, choose your prioritization criteria based on their relevance to the business’ goals.
  • Portfolio Maintenance: Understand that many factors may change over time, and adjust accordingly.

Project Portfolio Management Examples

Project portfolio management can look different based on industry, the size of the company, and the needs of the team. We’ve outlined a few examples of different approaches to project portfolio management below:

  • Small Businesses Portfolios: Small and large businesses have different needs. A small business might only have a few ongoing or potential projects at any given time, as well as smaller teams and a smaller budget. These companies might prioritize projects in their portfolio more aggressively toward growing their customer satisfaction or their leadership teams in order to grow the business.
  • IT Portfolios: IT portfolios are prioritized heavily around the existing demands on the IT team. IT teams tend to be relatively small and highly specialized, and IT projects tend to be more expensive, so it is especially important to keep those employees well supported and to not overwhelm them with tasks, so that they can do their best work.
  • International Businesses Portfolios: International businesses likely have teams located in many of the markets they do business. Portfolio management becomes more difficult because the needs of those teams and markets may differ so wildly. In this case, it is especially important to prioritize portfolios toward initiatives that support the business’ goals as a whole, rather than just the goals of any one particular market.
  • Remote Businesses: Businesses that are fully remote should consider using project portfolio management software to ease communication and project visibility. Central dashboards, automatic workflow notifications and reporting, and real-time messaging are invaluable tools to use when managing portfolios and teams from afar.
  • Manufacturing Business Portfolios: Businesses that produce goods for customers should consider using tools that allow their customers to receive updates and view project reports in real-time. You can save a ton of time by automating notifications or giving customers their own access to status reports, rather than manually sending update emails and answering questions to dozens of different people.

Best Practices for Project Portfolio Management

It can be difficult to know how to implement project portfolio management in your organization. From choosing your prioritization criteria to finding the right software tools, we’ve compiled a list of expert advice below:

  • Create a Portfolio Management Team (or Department): Creating an experienced team to be accountable for project portfolio management is one of the best ways to ensure its success. “It’s a lot of power in the hands of those managing the project portfolio, but if they’re well-suited for the task, it will mean considerable forward momentum for the business. Having a few well-experienced managers in charge of project portfolio management can help combat any major issues, as teammates can balance any individual biases in decision-making,” suggests James Diel , Founder and CEO of Textel.
  • Choose Prioritization Criteria That Aligns With Company Goals:  

Brad Tousenard

  • One of the most critical parts of project portfolio management is prioritizing various projects. It is essential that you prioritize projects using criteria that encourage progress toward the company’s goals. “Our projects are carefully selected to take our company closer to our strategic objectives. If any project does not help us meet our goals, it would be a waste of company resources and workplace efforts. As a project manager, I evaluate and prioritize projects with our overall business strategy in mind,” says Brad Tousenard , Founder and CEO of SpinupWP.
  • Be Flexible: Understand that business needs change for a variety of factors. Encourage flexibility in your teams, and you will have an easier time adjusting to them. “For any business to stand out and excel in a dynamic and saturated market, it has to have the capacity to quickly adapt. Rapid adaptability to provide solutions for any given problem requires exceptional leadership and effective management,” advises Shepler.
  • Use Available Tools: There are numerous free template resources and software tools to help make project portfolio management easier. Choose the ones that work best for your needs, and don’t be afraid to use them regularly. “Resources are finite at every organization as projects compete with each other for funding. With proper portfolio management tools, you can look at enterprise-wide resource availability before choosing projects, and choosing the best fit to optimize your allocation. Using project portfolio management, you can also periodically review and reassess those projects to ensure that your budget is still in line with business and project goals,” says Diel.
  • Understand the Existing Culture: Keep the company’s culture in mind when making any large-scale changes. A company with a history of a laissez-faire approach to deadlines may not react well to an overnight shift to hard due dates, and vice versa. “When implementing a PPM program, it is important to understand the organizational and cultural context. Many new programs fail because they establish practices that are out of context. Successful programs establish clear business goals, and then establish processes and practices that begin moving the organization in the new direction,” advises Zucker.

Project Portfolio Management Templates

Project portfolio management templates are tools to help support specific processes of the PPM lifecycle by providing budgeting tables, timelines, and dashboards to help visualize your data. Many full-scale software tools combine these features into a unified solution.

If you find specific gaps in the software you are currently using for portfolio management, you can use templates for things like easily reporting your portfolio status , tracking your ongoing budget , or creating a dashboard to visualize your entire portfolio . You can also choose from a wider variety of free project portfolio management templates .

Project Portfolio Management Facilitation Kit

Project Portfolio Management Facilitation Kit

Project portfolio management is a complicated process. We’ve put together this project portfolio management kit to help you get started. Included in this kit, you’ll find customizable templates to help you plan and execute meetings, prioritize projects, and create portfolio reports and dashboards. 

Download Project Portfolio Management Facilitation Kit

Meeting Agenda Template

Business Meeting Agenda Template

Use this meeting agenda template to easily plan your project portfolio management meetings. Create a schedule to discuss project priorities, ongoing projects, budgets, or other portfolio management concerns. We’ve provided a sample schedule, but you can easily edit the template to reflect your specific needs.

Download Meeting Agenda Template Microsoft Excel | Microsoft Word | Adobe PDF | Google Sheets | Smartsheet

Meeting Minutes Template

Meeting Minutes Template

Use this meeting minutes template to record feedback and notes from your project portfolio management meetings. In this template, you’ll find space to list meeting attendees and objectives as well.

Download Meeting Minutes Template Microsoft Excel | Adobe PDF | Google Sheets

Project Prioritization Template

Project Prioritization Template

Use this template to create a customized list of projects, ranked by priority, using the criteria you set. Choose your most essential criteria and rank your project options on a scale from one to five. This template will then generate a ranked list of the projects most imperative to your organization.

Download Project Prioritization Template Microsoft Excel | Google Sheets

Project Portfolio Status Report Template

Project Portfolio Status Report Template

Simplify reporting with this project portfolio status report template. Create and display a 12-month timeline of project statuses, with details and summaries for each. Generate a budget summary, and use the color-coded guide to view which items are on track.

Download Project Portfolio Management Status Report Template Microsoft Excel | Smartsheet

Project Portfolio Dashboard Template

Customer Facing Project Portfolio Dashboard

Create a visual guide to project status with this project portfolio dashboard template. Using easy-to-read graphic charts, display delivery timelines, resource allocation, and financial status of all of the projects within your portfolio. You can also summarize project status in a less graphic spreadsheet format.

Download Project Portfolio Dashboard Template — Microsoft Excel

Important Features in PPM Tools

A project portfolio tool is a centralized management system to oversee the project portfolio management process. To accomplish the many goals of portfolio management, there are a variety of software tools that automate processes and organize data.

“Before jumping into the vast ocean of project management software in the current market, it is important to take a step back and assess exactly what your company needs from your project portfolio management software,” says Shepler. “A best-in-class PPM software consists of certain features that ensure the optimum level of attention and analysis required to execute projects without a hitch. This includes flexible workflows, automated and scheduled reminders and notifications, Gantt charts, and the ability to collaborate and [generate] reports. The best project portfolio management software is one that models portfolios and objects in only a few clicks without compromising other features or ease of use.”

Zucker explains the recent popularity of software tools. “The software platform enables [you] to track the lifecycle of all projects, from ideation to funding approval to execution to benefits realization,” he says. “If you don’t use a software platform, all of this information would not be tracked, or would be tracked on incompatible and out-of-date spreadsheets.”

“The software can ensure that data is collected consistently for all projects,” Zucker continues. “Workflow can be enabled to reduce the manual effort of tracking down approvals. Standard reports can be generated from the solution, which eliminates the need for people to waste countless hours manually creating reports. The software also fosters standardized tools and practices.”

 Pusz emphasizes that PPM tools keep team members focused on the data. “When properly configured and integrated into organizational processes, the tools help to eliminate emotional decision making,” he says. “The tools focus on the intended ROI and other configured factors,  such as resource utilization, skill sets, and budgets.”

How to Choose the Right Project Portfolio Management Software

There are many considerations to make when choosing the right project portfolio management software for your company. Consider organizational fit, cost, and the challenges of implementation, as well as the features that the software has to offer.

The basic framework for choosing a tool is simple in theory, but often complex in practice. To find the right project portfolio management software for your company, you must consider two key factors: organizational fit and cost . 

While each tool will tout unique features that you can tailor to your organization, you shouldn’t choose software based on functionality alone. As Zucker and Pusz point out, a fancy software program will not solve all of your process problems overnight. And, in some cases, it might introduce more issues. Concerning this first step, organizational fit, determine the specific needs of your company and if and how a software tool can meet these needs. Think of fit as an umbrella term that includes size, capabilities, support systems, and other cultural factors.

“The first step when choosing a project portfolio management tool is understanding your enterprise and organizational needs,” says Zucker. “Most of the tools have their own strengths and weaknesses. The key question is: How will the tool work in your environment? ”

Pusz agrees. He says it is necessary to ask the question, “‘How will the tool fit the culture of the organization?’”

Regarding cost, expenses go far beyond the sticker price of the new software. As Pusz and Zucker explain, there are many hidden and qualitative costs that take your organization’s budget, resources, and health into account. 

As Zucker says, “Don’t just look at the initial cost of purchasing or licensing the software. Look at the total cost of ownership.” It is also important to consider the cost of learning a new software and training your team to use it.

There can be significant challenges in the implementation of project portfolio management software. As Pusz explains, “Project portfolio management software, like most software, is as good as the time spent to configure it properly. The larger enterprise tools can be cumbersome to configure to consider all criteria for project portfolio management evaluation. Also, they can be expensive and require constant training and maintenance to stay current with organizational strategy.” Read our guide to implementing project portfolio management to learn more.

These challenges should not deter you from adopting project portfolio management software, but you should be aware of the limitations before you begin implementation and actively work to combat them. After all, as Zucker points out, “In general, these challenges do not arise because the tools have intrinsic limitations. The challenges are often caused by how the enterprise decides to build or configure the software.”

The Qualities and Functionality of Project Portfolio Management Tools to Consider

Once you’ve identified your organization’s specific needs and constraints, you can look at products and assess their functionality. There are no objectively necessary features, but some common qualities of strong project portfolio management tools include reporting, dashboards, and usability. 

Here’s a list of things to consider when selecting a PPM tool:

  • Usability/UI: Choose a tool with an interface that is easy to use. Consider the learning curve involved when training new users.
  • Collaboration and Communication Features: Communication and collaboration features should be built into the tool. You should be able to automate messages  and view them in real time.
  • Cloud-Based vs. On-Premises Software: Consider the cost of implementation, both in time and budget. You should also consider security and upkeep, as well as access to support.
  • Reporting: A project portfolio management tool should offer automatic reporting on various different metrics. 
  • Integrations: Ensure that new tools integrate with software already in use. You should also ensure that the tool works seamlessly on multiple platforms, including on mobile devices.
  • Data Storage: Consider your storage needs and ensure that new tools can accommodate them. Take note of what kinds of file types are compatible, and which are not.
  • Dashboards: A dashboard is a data visualization that is often used to report high-level metrics and statuses. A good project portfolio management software tool will possess this functionality, and it can elevate your reporting and analytics tactics.

Increase Visibility Into PPM Processes with Consistency Where It Matters

From simple task management and project planning to complex resource and portfolio management, Smartsheet helps you improve collaboration and increase work velocity -- empowering you to get more done. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed.

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. Try Smartsheet for free, today.

Discover a better way to streamline workflows and eliminate silos for good.

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  • Getting Started with Your Project Management Implementation

Overview of Oracle Project Portfolio Management Cloud Services

Oracle Project Portfolio Management Cloud is a complete and integrated solution which dramatically improves the way project-driven organizations work, enabling efficient and effective project management while ensuring smarter business decisions based on a single source of project truth.

Oracle Project Portfolio Management Cloud Services include the following applications.

Project Financial Management Offering

Oracle Fusion Project Control Cloud Service

Oracle Fusion Project Costing Cloud Service

Oracle Fusion Project Billing Cloud Service

Oracle Fusion Project Contracts Cloud Service

Oracle Fusion Project Performance Reporting Cloud Service

Project Execution Management Offering

Oracle Fusion Project Management Cloud Service

Oracle Fusion Task Management Cloud Service

Oracle Fusion Project Resource Management Cloud Service

Applications in the Project Financial Management Offering

Project Financial Management applications in the Oracle Project Portfolio Management Cloud Service enable you to plan, organize, and manage activities, resources, cost, billing, and revenue to bring about the successful completion of specific project goals and objectives.

This table lists the Project Financial Management applications available on cloud.

Project Foundation

Includes common components that are shared across Oracle Fusion Project Portfolio Management.

Includes the basic project plan structure and components such as resource breakdown structures, rate schedules, pricing, burdening, and cross-charge processing.

Project Control

Provides full-function project planning, progress management, as well as budgeting and forecasting.

Project Costing

Captures and processes commitments and costs from Oracle Fusion Applications and third-party applications.

Project Billing

Accelerates invoice processing while reducing billing errors through a functionally rich work area offering visibility into formatted invoices with estimated taxes. Embedded analytics for contract revenue, invoice, profitability and margin give insight into potential contract and payment problems.

Project Performance Reporting

Helps project-driven organizations keep pace through project performance insight. It allows project stakeholders to receive answers to critical business questions and take action in real time, utilizing a multidimensional model to deliver the right information at the right time.

Enhance contract management and reporting capabilities by subscribing to the following services:

Oracle Fusion Enterprise Contracts Management Base Cloud Service

Oracle Fusion Transactional Business Intelligence for Projects Cloud Service

Applications in the Project Execution Management Offering

Project Execution Management applications in the Oracle Project Portfolio Management Cloud Service enable you to work together to plan and deliver projects, collaborate on project and non-project tasks all in one place, and find best-fit project resources to staff projects.

This table lists the Project Execution Management applications available on cloud.

Project Management

Extends project planning, management, and scheduling capabilities to all individuals within the enterprise who are required to manage project-based work Project managers can engage with team members to develop tasks, resolve issues, report progress, and monitor the status of the project to ensure that objectives are met.

Task Management

Lets organizations manage all work and related interactions in a consolidated place. Team members, challenged by the quantity of tasks they own, no longer have to track administrative and project work in different places since all tasks are managed in a single view.

Resource Management

Enables organizations to optimize the allocation and utilization of their most precious resource: their people. Innovative and intuitive tools let resource managers and project managers ensure that the best-fit resource is identified and placed on each and every project assignment, to the benefit of the organization, the project resource, and the end customer, for either internal or external billable projects.

Project Portfolio Management Implementation Documentation

This guide contains procedures that enable you to quickly and efficiently configure Project Financial Management and Project Execution Management applications to meet your business requirements.

For additional information before implementing the Project Portfolio Management applications, see the following guides:

Oracle ERP Cloud Securing ERP

Oracle Applications Cloud Using Common Features

Oracle Applications Cloud Using Functional Setup Manager

For additional information on implementing Project Portfolio Management applications, see the following guides:

Oracle Project Portfolio Management Cloud Implementing Project Financial Management

Oracle Project Portfolio Management Cloud Implementing Project Execution Management

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19 Best Digital Asset Management Software For Video Reviewed In 2024

Hermann Fink

Our reviewers evaluate software independently. Clicks may earn a commission, which supports testing. Learn how we stay transparent , read our review methodology , and tell us about any tools we missed.

As a project manager, I’ve reviewed, compared, and tested various digital asset management software for video to shortlist the most effective tools for improving collaboration and streamlining asset organization.

10 Digital Asset Management Software For Video Shortlist

Here's my pick of the 10 best software from the 19 tools reviewed.

  • 1. Cloudinary — Best for image and video scaling
  • 2. IntelligenceBank — Best for marketing compliance
  • 3. Canto — Best for brand asset organization
  • 4. Imagen — Best for media content distribution
  • 5. Aprimo — Best for AI-powered asset searchability
  • 6. ioMoVo — Best for BYOS Solutions
  • 7. Lytho — Best for version control and compliance management
  • 8. NetX — Best for end-to-end DAM solutions
  • 9. Adobe Experience Manager Assets — Best for cloud-native DAM
  • 10. Filecamp — Best for digital asset sharing

Get free help from our project management software advisors to find your match.

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With the many digital asset management software for video options, choosing the perfect one can be challenging. You're looking to streamline and manage your video content, but deciding which tool to use can be daunting.

I understand this struggle. I'm here to guide you through it using my extensive experience with digital productivity tools to help you navigate the best digital asset management software for video.

Why Trust Our Software Reviews

We’ve been testing and reviewing project management software since 2012. As project managers ourselves, we know how critical and difficult it is to make the right decision when selecting software. 

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Need expert help selecting the right tool?

With one-on-one help, we guide you to your top software options. Narrow down your software search & make a confident choice.

We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different project management use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our review methodology .

Best Digital Asset Management Software For Video Summary

Here is a side-by-side comparison of the top DAM software solutions for video.

Tools Price
From $89/month (billed annually for 3 users)
From $438/month (billed annually)
Pricing upon request
Pricing upon request
Pricing upon request
From $7/user/month (min 5 seats)
From $1780/year/user
No price details
Pricing upon request
From $29/user/month

Preview Image - <h2 class="c-block__title b-summary-table__title c-listicle__title h3" > Compare Software Specs Side by Side</h2>

Compare Software Specs Side by Side

Use our comparison chart to review and evaluate software specs side-by-side.

How To Choose Digital Asset Management Software For Video

As you work through your unique software selection process, remember the following points.

  • Scalability: As your video content library grows, so does the need for a system that can handle increasing assets without a drop in performance. Choose software that can scale with your business, ensuring that your video production increases and your digital asset management system can keep up. For instance, a growing marketing agency will require a system to manage an expanding portfolio of client video assets.
  • Integration Capabilities: Your digital asset management software should work well with other tools in your workflow. Look for software integrating video editing, content management systems, and marketing platforms. This consideration is important for a production house that relies on a workflow between video editing and content distribution channels.
  • Searchability and Metadata: Finding the right video among thousands can be daunting. Opt for software that offers advanced search capabilities and solid metadata options. This feature is particularly relevant for organizations with large video archives, such as broadcasters or educational institutions, where quick retrieval of video content is important.
  • Security and Permissions: Protecting your video content from unauthorized access is paramount. Select digital asset management tools with complete security features and customizable permission settings. This is especially important for companies that handle sensitive or proprietary video content.
  • Support and Training: Implementing a new system can be complex. Ensure that the software provider offers adequate support and training resources. This is vital for businesses that may not have in-house expertise in digital asset management, such as startups or non-profits, to help them get the most out of their investment.

portfolio and project management software

Hub Planner

portfolio and project management software

Best Digital Asset Management Software For Video Reviews

Here are my complete reviews of all the leading digital asset management software solutions tailored for video content. My analysis details the advantages and drawbacks of each platform, highlights key features, and suggests optimal use cases to guide your selection process.

portfolio and project management software

Best for image and video scaling

  • Free plan available
  • From $89/month (billed annually for 3 users)

Cloudinary screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Cloudinary is a cloud-based service that offers end-to-end digital asset management solutions. Cloudinary supports businesses’ media asset management across various channels and devices.  It specializes in the handling and optimization of images and videos. 

Why I Picked Cloudinary: I chose Cloudinary for its solid image and video management capabilities that simplify media handling. Its ability to scale images and videos makes it a good choice for developers and businesses aiming to optimize their media content for different devices and bandwidths. 

Cloudinary offers transformation features, which allow for real-time resizing, cropping, and format conversion. It ensures that media is delivered in the most efficient size and format.

Standout features & integrations:

Features include its complete API library, support for numerous image and video transformations, and high-performance delivery through a CDN. It also offers AI-powered image and video transformation at scale, which can  enhance media workflows.

Integrations include Salesforce, WordPress, Magento, Shopify, Adobe Photoshop, Zapier, Slack, and GitHub.

  • Check out Cloudinary on their website

Pros and cons

  • Advanced AI features for automated content manipulation
  • Wide range of integrations with e-commerce and marketing platforms
  • Powerful image and video optimization features
  • Overkill for small businesses or projects that don't require heavy media manipulation
  • May have a steep learning curve for new users

portfolio and project management software

IntelligenceBank

Best for marketing compliance

  • Free demo available
  • From $438/month (billed annually)

IntelligenceBank screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

IntelligenceBank is a platform that simplifies marketing operations and ensures brand compliance. It also provides marketing compliance, offering tools that maintain brand integrity and legal adherence.

Why I Picked IntelligenceBank: I chose IntelligenceBank for this list due to its strong focus on marketing compliance features that maintain brand consistency and adhere to regulations. It differentiates itself from other digital asset management software by providing detailed version control and compliance tools that are specifically tailored for marketing departments. It integrates essential compliance checks directly into the workflow, ensuring all marketing materials meet set standards before publication.

Features include customizable approval workflows that ensure all assets meet compliance standards before going live. It also offers detailed audit trails for every asset, which enhances governance by tracking asset history. Further, it helps with brand control as it offers centralized brand guidelines and templates accessible to all stakeholders.

Integrations include Adobe Creative Cloud Adobe InDesign, Adobe Illustrator, Adobe Photoshop, After Effects, HubSpot, Drupal Sitecore, WordPress, Drupal, Premiere Pro, Facebook, JIRA, Asana, Salesforce, Trello, Dropbox, Slack, Shopify, OneDrive.

  • Check out IntelligenceBank on their website
  • Strong customer support and user-friendly interface
  • Broad integration capabilities with other software
  • Customizable to fit various marketing needs
  • Desktop uploader lacks bidirectional syncing
  • Some challenges with single sign-on integration

portfolio and project management software

Best for brand asset organization

  • 15-day free trial
  • Pricing upon request

Canto screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Canto is a digital asset management platform that centralizes and organizes media files for businesses. It is best for brand asset organizations due to its search capabilities and intuitive content hub.

Why I Picked Canto: I chose Canto for this list because it organizes brand assets, which is essential for maintaining a consistent brand image. Its standout feature is the ability to centralize content, making it easier to manage and access. Canto simplifies the search and retrieval of assets with smart tagging and advanced search options, ensuring that brand assets can be easily found.

Features include AI-powered smart tags, facial recognition, and duplicate detection, which simplify the organization and retrieval of assets. It also offers version control and rights management to maintain asset integrity. 

Integrations include Box, Dropbox, Drupal, Adobe After Effects, Figma, Mailchimp, Microsoft Outlook, Adobe Photoshop, Slack, and WordPress.

  • Check out Canto on their website
  • Strong version control supports effective asset management
  • Advanced search and filtering options enhance asset retrieval
  • User-friendly interface facilitates easy navigation and use
  • Customization options may be overwhelming for new users
  • May be more features than needed for smaller teams

portfolio and project management software

Best for media content distribution

Imagen screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Imagen is a digital asset management platform specializing in the management and distribution of video content. It offers  tools for storing, archiving, and sharing high-resolution media, making it ideal for organizations that deal with large volumes of video content.

Why I Picked Imagen: I chose Imagen for its superior capabilities in media content distribution. It helps media-centric organizations maximize their content's reach and accessibility. What sets Imagen apart is its focus on optimizing video asset storage and retrieval, coupled with its solid distribution tools. Imagen is best because it provides tailored solutions that enhance the speed and quality of media delivery across various platforms.

Features include a centralized platform for managing various digital assets, fast search capabilities, and secure access controls. It also offers AI-driven content organization, media processing workflows, and the ability to monetize and deliver content online. 

Integrations include Stripe, Roku, Wurl, Prime Video, YouTube, Vimeo, and Backlight.

  • Check out Imagen on their website
  • Customizable interface and workflows for tailored asset management
  • Centralized platform for managing various digital assets
  • AI-powered tagging and search capabilities
  • Focus on video may limit its use for organizations with diverse asset types
  • May require significant setup and training to use all features

portfolio and project management software

Best for AI-powered asset searchability

Aprimo screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Aprimo is digital asset management software designed to centralize and manage the entire content lifecycle. It can read labels in various document types and add them to metadata, making assets quickly findable.

Why I Picked Aprimo: I chose Aprimo for its powerful video asset management capabilities, including advanced AI-driven metadata tagging. It has workflow automation and integrations with other tools, making it a versatile solution for video content creators.

Features include AI-driven asset searchability, automated asset management, and enhanced content discoverability. It also provides compliance management and lifecycle management tools.

Integrations include Adobe Creative, Cloud, Microsoft Office, Google Drive, Salesforce, Slack, WordPress, Drupal, Marketo, Oracle, Eloqua, and SAP. 

  • Check out Aprimo on their website
  • Extensive integrations
  • Good compliance tools
  • AI-powered search
  • Complex setup for some users
  • Requires customization

portfolio and project management software

Best for BYOS Solutions

  • 14-day free trial + free plan available
  • From $7/user/month (min 5 seats)

ioMoVo screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

ioMoVo is a digital asset management solution for video content to ensure secure storage and efficient collaboration.

Why I Picked ioMoVo: I chose ioMoVo for its unique BYOS model, which allows users to integrate their preferred cloud storage solutions. Its AI-based search capabilities also enhance the efficiency of locating and managing digital assets, making it a good choice among video asset management software.

Features include ioCloud for centralized file management, ioHub for integrating multiple cloud platforms, and ioAI for AI-powered indexing and metadata tagging. Collectively, these features improve productivity and streamline workflows.

Integrations include Google Drive, OneDrive, Dropbox, Box, Adobe Creative Suite, Microsoft Word, and Avid Media Composer.​

  • Check out ioMoVo on their website
  • AI-driven search functionality
  • Extensive cloud integrations
  • Flexible BYOS model
  • Requires time to learn
  • Limited offline access

portfolio and project management software

Best for version control and compliance management

  • From $1780/year/user

Lytho screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Lytho is a digital asset management solution for managing, storing, and collaborating on video content. It provides tools for organizing and retrieving digital assets easily.

Why I Picked Lytho: I chose Lytho because of its user-friendly interface and exceptional metadata management capabilities. When judging digital asset management tools, Lytho stood out for its advanced collaborative review processes and detailed metadata features, which are crucial for efficient video management.

Features include comprehensive metadata management, making asset organization and retrieval straightforward. Its collaborative review processes help with teamwork and feedback.

Integrations include Google Drive, Dropbox, Box, and Sharefile.

  • Check out Lytho on their website
  • User-friendly interface
  • Collaborative review processes
  • Comprehensive metadata management
  • Limited offline functionality
  • Initial setup requires time

portfolio and project management software

Best for end-to-end DAM solutions

NetX screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

NetX is a digital asset management software solution that supports the complete lifecycle of digital assets from creation to distribution. This tool is designed to simplify workflows and improve asset control across large organizations.

Why I Picked NetX: I chose NetX for its ability to manage digital assets effectively. It stands out due to its strong asset management features and the ability to handle large asset volumes, making it an ideal solution for enterprises. NetX’s complete tools cater to every stage of digital asset management.

Features include metadata management tools, which allow for detailed tagging and categorization, making searches faster. It also features powerful visual tools, such as color palettes and grids, that enhance the user's ability to manage and organize assets. Additionally, NetX supports solid workflow automation capabilities that can greatly reduce manual processes and enhance productivity.

Integrations include Adobe Creative Cloud, Microsoft 365, Asana, Zapier, Asana, Facebook, and Google Workspace.

  • Check out NetX on their website
  • Workflow automation reduces manual tasks and simplifies operations
  • Visual management tools aid in efficient asset organization
  • Extensive metadata management enhances asset discoverability
  • May be over-equipped for smaller organizations or those with simpler needs
  • Can be complex to set up and use effectively

portfolio and project management software

Adobe Experience Manager Assets

Best for cloud-native DAM

Adobe Experience Manager Assets screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Adobe Experience Manager Assets is a digital asset management (DAM) tool designed to simplify the management, delivery, and optimization of media assets. It handles large volumes of digital content, making it ideal for organizations looking to enhance their digital asset workflows.

Why I Picked Adobe Experience Manager Assets: I chose Adobe Experience Manager Assets for its solid architecture and extensive feature set that supports complex video management needs. It stands out due to its cloud-native capabilities, which offer scalable and secure asset management. This tool is labeled best because it leverages cloud efficiencies to improve the accessibility and performance of large asset libraries.

Features include smart tagging that uses Adobe Sensei AI to automate the tagging and categorization of assets, enhancing searchability and usability. Its media capabilities allow users to create, adapt, and deliver images and videos across multiple channels automatically. Moreover, the tool includes solid workflow management tools that simplify operations and improve collaboration among creative and marketing teams.

Integrations include Adobe Creative Cloud, Adobe Marketing Cloud, Adobe Analytics, Adobe Campaign, Adobe Target, Adobe Social, Adobe Primetime, Adobe Bridge, Adobe Stock, and Microsoft Dynamics.

  • Check out Adobe Experience Manager Assets on their website
  • High scalability for managing large volumes of assets
  • Advanced AI features for smart tagging and asset management
  • Extensive integration capabilities with Adobe products
  • Requires significant investment in Adobe ecosystem
  • Can be complex to implement for smaller teams

portfolio and project management software

Best for digital asset sharing

  • 30-day free trial
  • From $29/user/month

Filecamp screenshot - 19 Best Digital Asset Management Software For Video Reviewed In 2024

Filecamp is a digital asset management (DAM) platform designed to aid the organization, management, and sharing of digital media files. It provides businesses with a secure, cloud-based solution for handling a wide array of digital assets, making it particularly effective for collaboration.

Why I Picked Filecamp: I chose Filecamp for its sharing capabilities, which are important for digital asset management. It differentiates itself with a user-friendly interface and the provision of unlimited users, which is quite rare in this field. I believe Filecamp is best because it offers good sharing options, accurate access controls, and customizable branding features that support the collaboration and distribution of assets.

Features include its highly customizable digital asset-sharing options, which allow users to control who can view and download assets with granular permissions. It also supports online proofing and approval processes, enabling efficient workflows and quicker turnaround times for creative projects. Additionally, Filecamp offers branded portals, which can be tailored to match corporate branding, enhancing the professional presentation of shared assets.

Integrations include Mailchimp, Zoho, Salesforce, Adobe Photoshop, Zapier, and DAM API access. 

  • Check out Filecamp on their website
  • Branded portals enhance the professional distribution of assets
  • Supports online proofing and approvals, streamlining collaboration
  • Customizable sharing options with extensive permissions settings
  • Lacks direct integration details on the website, which may limit workflow automation
  • High starting price point compared to some other DAM solutions

Other Digital Asset Management Software For Video

Below is a list of additional digital asset management software for video that we shortlisted, but did not make it to the top list. It’s definitely worth checking them out!

Best for dynamic asset transformation

Best for eCommerce product content

Best for managing complex media workflow

Best for easy sharing

Best for customizable asset management

Best for brand consistency

Best for enterprise content management

Best for production teams

Best for organizing Adobe and non-Adobe files

portfolio and project management software

Related Project Management Software Reviews

If you still haven't found what you're looking for, check out these related project management tools we've tested and reviewed. 

  • Project Management Software
  • Resource Management Software
  • Workflow Automation Software
  • Task Management Software
  • Collaboration Tools
  • Gantt Chart Maker

Digital Asset Management Software For Video Selection Criteria

As an expert who has personally tried and researched these tools, I have developed a set of criteria that address the essential features and user experience considerations for this type of software.

Core Digital Asset Management Software For Video Functionality: 25% of Total Weighting Score

  • Centralized storage for video assets
  • Metadata tagging and indexing for easy searchability
  • Access controls and permission settings
  • Version control and audit trails
  • Integration capabilities with other tools and platforms

Additional Standout Features: 25% of Total Weighting Score

  • Unique collaboration tools for team feedback and approval processes
  • Advanced AI-driven search and recognition features
  • Customizable branding options for the interface
  • Real-time analytics and reporting capabilities
  • Innovative content distribution and publishing options

Usability: 10% of Total Weighting Score

  • Intuitive navigation and user-friendly interface design
  • Responsive design for cross-device compatibility
  • Clear and concise layout of features and tools
  • Simplified workflows that reduce the number of steps to complete tasks
  • Visual elements like thumbnail previews and drag-and-drop functionality

Onboarding: 10% of Total Weighting Score

  • complete knowledge bases and FAQs
  • Step-by-step interactive tutorials and product tours
  • Availability of training materials such as videos and webinars
  • Access to customer success teams for personalized guidance
  • Template libraries to jumpstart asset organization

Customer Support: 10% of Total Weighting Score

  • Multiple channels of support, including email, chat, and phone
  • Quick response times and resolution of issues
  • Dedicated account managers for enterprise clients
  • Community forums for peer-to-peer assistance
  • Regular updates and clear communication about new features

Value For Money: 10% of Total Weighting Score

  • Transparent pricing structures without hidden fees
  • Flexible plans that scale with business needs
  • Free trials or demos to evaluate the software before purchase
  • Cost comparison with similar products in the market
  • Assessment of long-term ROI based on feature set and performance

Customer Reviews: 10% of Total Weighting Score

  • Consistency in positive feedback across various user segments
  • Specific mentions of reliability and uptime
  • User testimonials about the impact on workflow efficiency
  • Balanced consideration of both positive and negative reviews
  • Trends in customer satisfaction over time

Trends In Digital Asset Management Software For Video 

The landscape of digital asset management for video is advancing. Here are some trends that redefine how video content is managed and used.

  • AI-Driven Efficiency and Metadata Management : Artificial intelligence is transforming DAM software by automating metadata tagging and aiding in content creation. This automation enhances asset discoverability and return on investment. Generative AI is being tested for its ability to compile videos into new marketing materials.
  • Integration with CMS, PIM, and Creative Toolkits : DAM systems are increasingly integrating with content management systems, product information management systems, and creative toolkits. This integration maintains DAM as the central hub for media assets and supports the creation of cohesive content experiences.
  • Automation and Workflow Enhancements : DAM systems embed automation and advanced workflows to simplify processes. Enhanced collaboration features support marketing and creative teams, while persona-based interfaces offer role-specific access, improving efficiency for large, diverse organizations.
  • DAM as a Foundational Technology for Innovation : DAM is becoming critical for fostering innovation and creativity across digital platforms. It enables brands to reduce time to market, cut asset production costs, and attract new customers through consistent digital experiences.

The 2024 trends in DAM software for video indicate a move towards solutions that are more integrated, automated, and focused on the user, facilitating the creation of dynamic and personalized content experiences.

What Is Digital Asset Management Software For Video?

Digital asset management software for video is a specialized tool designed to store, organize, and retrieve video content. It is used by media professionals, marketers, and organizations to manage large volumes of video files. The software is a central repository for video assets, allowing users to easily access, share, and distribute content across various platforms and channels. It caters to those who require quick retrieval and consistent management of video files for various purposes, such as broadcasting, marketing campaigns, or content creation.

The components of digital asset management software for video include metadata tagging, advanced search capabilities, access controls, and version management. These features enable users to categorize video content, locate specific files quickly, manage permissions for different users, and track file changes over time. The software is essential for maintaining an organized digital video library and ensuring that the right content is available when needed.

Features Of Digital Asset Management Software For Video

When selecting digital asset management software for video, it's important to consider features that cater to video content. These features ensure efficient management, quick access, and effective collaboration on video assets. Here are the top features to look for.

  • High-Performance Video Playback - This allows for smooth previewing of videos directly within the platform. Quick and clear video playback is essential for reviewing content without downloading large files.
  • Advanced Search Capabilities - Enables users to find videos and audio files quickly using metadata, tags, or keywords. Being able to locate video assets swiftly saves time and increases productivity.
  • Support for Various Video Formats - The software should handle multiple video formats without compatibility issues. This flexibility is important as it ensures all video content can be managed regardless of its original format.
  • Bulk Upload and Download - Allows multiple videos to be uploaded or downloaded simultaneously. This feature is critical for time efficiency, especially when dealing with large volumes of video content.
  • Version Control - Keeps track of different versions of a video file. Maintaining an accurate history of revisions is important for ensuring the final product reflects all intended edits.
  • Access Controls and Permissions - Manages who can view, edit, or share assets. This control is important for maintaining the security and integrity of video content.
  • Integration with Editing Software - Connects with video editing tools. Direct integration is important for a smooth workflow between editing and asset management.
  • Collaboration Tools - Facilitates teamwork by allowing multiple users to comment and give feedback on video content. Effective collaboration is key to producing high-quality video content.
  • Customizable Metadata Fields - Enables adding specific data to videos, making them easier to organize and track. Custom metadata is important for tailoring the DAM system to the needs of the organization.
  • Cloud-Based Storage and Backup: Ensures video assets are securely stored and backed up online. Reliable cloud storage protects content against data loss and enables remote access.

Choosing the right digital asset management software for video is a strategic decision that can greatly impact an organization's video content management efficiency. The features listed above are essential to ensure that video assets are well-organized, easily accessible, and securely managed.

Benefits Of Digital Asset Management Software For Video

Digital asset management software for video offers a range of advantages that can improve the effectiveness of managing video content for users and organizations. Here are five primary benefits of this type of DAM software.

  • Centralized Storage and Retrieval - DAM systems offer a single source of truth for all video assets. This centralization makes it easier for users to store, organize, and retrieve videos, saving time and reducing the risk of lost or duplicated content.
  • Improved Collaboration and Workflow - DAM software enables teams to work together more effectively. It simplifies the review and approval process, allowing for real-time feedback and edits, accelerating project timelines, and improving productivity.
  • Brand Consistency - Organizations can maintain a consistent brand image by using DAM software. The software ensures that only the most current and approved videos are used, which helps uphold the brand's reputation and messaging across all platforms.
  • Scalable Distribution - DAM systems simplify distributing video content across various channels. They allow for quick resizing and repurposing of videos, ensuring content is optimized for each platform.
  • Actionable Analytics - With DAM software, organizations can track how their videos are being used and how they perform. This insight allows data-driven decisions to improve video strategies and maximize return on investment.

DAM software for video provides a structured and efficient approach to storing, accessing, and using video assets, which can lead to better collaboration, stronger brand consistency, and more strategic content distribution.

Costs & Pricing Of Digital Asset Management Software For Video

When considering DAM software for video, software buyers should know the various plan options that cater to different needs and budgets. 

Below is a summary of the typical plan types, their average prices, and the common features included in each plan.

Plan Comparison Table for Digital Asset Management Software For Video

Basic$0 - $20 per user/month- Basic asset storage and organization- Basic search functionality- Limited file sharing capabilities
Professional$25 - $100 per user/month- Advanced search capabilities- Greater storage capacity- Version control- Basic integration options
EnterpriseCustom pricing- Customizable workflows- Unlimited storage- complete integration options- Advanced security features
Free Option$0- Limited asset storage- Basic search and filter capabilities- File sharing with some restrictions

When choosing a digital asset management plan for video content, consider the number of assets, team collaboration needs, scalability, ease of use, and customer support from the vendor.

Digital Asset Management Software For Video FAQs

Here are some of the frequently asked questions I receive about digital asset management software for video.

How does digital asset management software for video differ from regular DAM systems?

Video DAM software is tailored specifically for handling video content, which requires more storage space and specialized features for editing and playback compared to standard digital assets. It often includes codecs and transcoding tools to ensure videos can be viewed on different devices and platforms, as well as more solid bandwidth to handle the larger file sizes associated with video content.

Can digital asset management software for video integrate with other systems?

Yes, many digital asset management systems for video offer integration capabilities with other software tools such as content management systems (CMS), marketing automation platforms, and creative software. This integration allows for a more efficient workflow, enabling users to access and use their video content across different stages of their digital marketing and content creation processes.

How does digital asset management software for video improve collaboration?

Video DAM software improves collaboration by providing centralized access to video assets, which team members can access from different locations. It also typically includes tools for commenting, reviewing, and approving content, as well as version control to track changes and updates. This facilitates clear communication and efficient teamwork on video projects.

Is cloud-based digital asset management software for video more beneficial than on-premise solutions?

Cloud-based video DAM software offers several advantages, such as reduced IT infrastructure costs, easier access from any location, automatic updates, and scalability. However, the choice between cloud-based and on-premise solutions depends on the specific needs of an organization, including considerations for security, control, and integration with existing systems.

What security features should digital asset management software for video have?

Security features to consider in video DAM software include encryption, secure access controls, user authentication, and activity logs. It’s also important to assess the vendor’s compliance with industry standards and regulations to ensure that your video content is protected against unauthorized access and data breaches.

How does digital asset management software for video handle large video files and formats?

Video DAM software is designed to handle large video files and a variety of formats efficiently. It often includes features such as high-capacity storage, fast upload and download speeds, transcoding tools to convert videos into different file formats, and streaming capabilities to preview content without downloading large files.

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