5 Project Portfolio Management Software Features That Will Actually Make Your Project Process Better
Project management is a complex domain requiring the streamlined integration of offline and online processes for timely delivery.
A project portfolio management software centralizes the management of workflows, while also uniting teams to collaborate on processes and sharing updates synchronously.
By reviewing the top 5 PPM software features, we can understand how the technology solution makes project processes more optimized.
- Prospecting is instantly improved through digitization — One of the top features of the leading online project management software solutions is opportunity management. Enterprises can develop robust business cases for onboarding specific projects, through granular level budgeting calculation, feasibility optimization, etc. Technical features ensure that leads are accurately managed and can be explored comprehensively for greater revenue generation potential.
2. Resource mapping for optimal project delivery — Having the right resources, with the right skillset, at the right time is a significant balance that project managers must maintain to ensure timely delivery.
Projects across industries require highly specific team setups, which can evolve over time. A central project portfolio management software provides real-time insights on the availability and future requirement of resources for all projects.
3. Project planning tools for strategic value — Many projects fail to deliver within budget or schedule, as they are not strategically planned for during the early stages.
Additionally, verbal plans or plans that aren’t updated through a central data platform can lead to inconsistencies and errors in subsequent stages. A project portfolio management software provides a rich historical library of strategies, specifications, negotiations, plans, and data to empower managers to avoid making mission-critical errors.
4. Monitoring and collaboration tools for last mile reach — Projects are only as successful as the quality of input provided across stages. From IT to engineering, various project types require last mile visibility for solving on-ground problems in a more agile way.
Through the project health dashboard, and stage-level workflow insights, managers can review their portfolio across a range of parameters and phases.
5. Budgeting expanded for greater cost control — Budgeting for projects is also standardized, automated, and highly optimized to include the most updated metrics, inputs, and formulae.
Project managers can also execute data analytics initiatives on budget data for the most accurate projections across resources, procurement, engineering, etc. These data insights can also be automated, with comprehensive cybersecurity tools to protect against any data leaks.
In conclusion
Project portfolio management software is empowering enterprises to optimize operations, while improving portfolio oversight and KPI monitoring.
Key challenges within business case development, prospecting, procurement, engineering, and quality management, can be instantly streamlined when adopting a top PPM software.
Ready to optimize your project processes? Learn more about TouchBase® Fit-to-Purpose Solution for Project Management & Beyond by giving us a call at +91–76209 00522 and +91–93257 08071. Request a complete demo of our solution here at — https://www.productdossier.com/request-demo/
