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6 Best Project Portfolio Management Software

by Scott Max
I'll offer two ways to find the tool, software or service you need, keep reading our breakdown and recommendations, or tell us about your business and the problem you are trying to solve and we will advise you for free!

So, you are in the market for the best project portfolio management software.

Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you. 

If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers and what we see the best feedback with. So, that’ll be the “can’t go wrong” option. 

Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.

Enjoy the list!

The Best Project Portfolio Management Software

Managing a project portfolio is complex. You have to track multiple projects, monitor several teams and satisfy a range of stakeholders while staying aligned with the overall business strategy. A project management software that provides detailed insights with portfolios will be the perfect fit for this category. Have a look at the products below to choose the best project portfolio management software:

1. Wrike

Wrike provides an optimized solution to businesses for project management requirements. Its greatest strength is its scalable platform that grows with your business requirements. With Wrike, you can enable a collaboration platform and maintain 360⁰ visibility into all operations.

Wrike Features

Here are some exclusive features of Wrike:

Reports: Wrike offers quality reporting tools that allow you to analyze your work and stay on top of everything. It provides a high-level overview of all your current projects and enables you to identify bottlenecks and drill down to deeper task levels in order to take timely action. Wrike also provides retrospective information on your completed projects and tasks.

Wrike Calendars: Wrike Calendars helps you; keep track of what you need to work on and when. With Wrike, you can create smart calendars based on your folders or projects and filter them through several criteria. You can also create; a classic calendar and be in full control of its content.

Custom Workflows: Wrike allows you; to create unique workflows and enables your team to work in a way they find most comfortable. You can create custom statuses within each workflow to; get a reflection of what stage your tasks are in. With Wrike, it's much simpler to report on assignments and specify; who should be an assignee once a project has reached a particular status.

Custom Field creation: For a scaling business, you have to; track all sorts of data. With Wrike, you can create custom fields in your projects and tasks and populate them with the required information. You can design specific fields for the project's budget, marketing campaigns and sales operations, making financial management a lot easier. Moreover, Wrike automatically runs calculations for the numeric data.

Request Forms: Wrike allows Request form creation for businesses dealing with tickets or requests. It enables you; to effortlessly capture all information from a client. Once done, Wrike automatically triggers a task or project based on the available information. You can predefine this information, like assignees or locations and share it with your colleagues while also making them available externally.

User Groups: You can create user groups within Wrike based on company departments, subteams, office locations or cross-departmental teams. This way, it's extremely simple to share something with a specific group, and you can remain in touch with every project team.

Wrike Pricing

Wrike offers 4 Pricing options plus 2 Additional subscriptions for marketing and services delivery teams.

The "Free" plan comes at zero cost and offers basic task management capabilities along with a live activity stream. It is best for new users looking to get acquainted with Wrike.

The "Professional" plan is priced at $9.8/user/month and offers interactive Gantt charts plus shareable dashboards.

The "Business" plan is priced at $24.8/user/month and allows users to create custom fields or workflows according to their requirements.

The "Enterprise" plan is only available for businesses with 5+ users and offers all features of Wrike. It is suitable for established organizations. You can contact the sales team to get a price quotation.

The additional plans for; marketing and service delivery teams can also be availed: within Wrike. You can customize the subscription and get a price quotation by contacting the sales team.

2. Asana

All important projects involve groups of people coming together to achieve a shared goal. Asana is a tracking and project management software that allows teams to collaborate on tasks and track progress. It simplifies communication and data sharing, allowing you; to stay up-to-date with the latest project requirements.

Asana features

Here are some exclusive features of Asana:

  • Workflow builder: Asana provides visual tools to efficiently create workflows that simplify your execution and management tasks, helping your teams stay connected from initiation to completion. With the workflow builder, you can systemize; the information intake and capture ideas more easily.
  • Workload management: With Asana's coherent workload management, you can ensure your teams are not overwhelmed by the tasks and can easily schedule their work. Project managers can get a clear overview of what's happening inside the workspace to promote balance.
  • Resource Allocation: It allows you to reassign high-priority tasks to more suited employees with just a few clicks. You can easily analyze the current progression and send the relevant details to the assigned personnel for a seamless transition.
  • Views and Reporting: Asana provided real-time analytics and insights through AI-powered reporting tools that assist you in setting realistic objectives for your teams. You can specify the criteria and generate reports to see progress across projects.
  • Project Synchronization: It enables users to see contextual information regarding the same task across different project teams without duplications. So project managers can assess the employee's work performance.
  • Data security enhancement: Asana allows you to export data to a dedicated server for your business, boosting network security. Users can easily delete or reset their current workspaces to start anew effortlessly.
  • Mobile accessibility: Asana is accessible from iOS and Android devices to help you stay on top of project management anytime, anywhere. You can update task status, check schedules and have conversations with your teams.
  • Robust rest API: Asana supports seamless integration with several reporting tools and allows automation; to quickly execute tasks across other platforms. You can connect GitHub, Harvest and Slack to track project status or view any recent code edits.

Asana Pricing

Asana offers 3 Pricing options for users to serve their unique project management requirements.

The "Basic" plan is for individuals or businesses looking to get started with Asana and understand its core function. It's a free subscription plan that provides rudimentary features of Asana.

The "Premium" plan provides access to Asana's "Workflow Builder" and lets users create multiple timelines within the interface to manage and reassign overlapping tasks. It is priced; at $10.99/user/month upon annual billing.

The "Business" plan is for enterprises looking to maintain scalability and handle a huge workload. It provides access to all exclusive features of Asana. The "Business" plan is priced; at $24.99/user/month upon annual billing.

3. Trello

Trello allows your project teams to work together and maintain coordination between all departments within your business organization. It empowers project management by providing; the necessary tools and workflows to keep up with the scaling demands. Trello centralizes your project details in one collaborative location, making it easier to track, manage and complete multiple tasks.

Trello Features

Here are some exclusive features of Trello:

Multiple Views: Trello offers users the ability to switch between their preferred; views and brings a unique perspective to project management. It enables you swiftly execute your ideas into actions by providing clear visibility into every ongoing task. Trello Board view breakdown the project into multiple steps and updates the Workspace every time a task is near completion.

Dashboard: With the dashboard, you can gain actionable insights into your business processes so you can prevent bottlenecks and maintain efficiency. It allows users to customize key metrics and anticipate a team's requirements.

Trello Maps: Trello provides inbuilt interactive maps tl track field services and views the locational information pertinent to every project. It's a valuable feature for businesses that have agents in the field and allows managers to track the latest updates regarding what's happening in different project sites.

Butler: Trello offers an automation feature named "Butler" that allows you to create no-code integrations, workflows and bots to automate repetitive procedures. You can set pre-defined instructions for every automation and ensure the system quickly updates the relevant members every time a task is completed. You can turn on the suggestion feature, and Trello will identify your repetitive actions to suggest single-click automation that simplify your workload.

Power-ups: With Trello's featured Power-ups, users can add third-party plugins to enhance the functioning within their Workspace. You can integrate valuable tools like; Jira, Google Drive, Slack and any other relevant sources to access your files and documents within Trello's unified database.

Template creation and customization: Users can switch between templates to provide their teams with a blueprint for efficient project management. You can access the templates made by other users and create new ones to share with the Trello community. It helps you go digital with your work management and allows customization to the existing templates so they can meet your specific project requirements.

Trello Pricing

Trello offers 4 Pricing options for businesses to use the platform for project management.

The "Free" plan offers unlimited storage along with intrinsic project management tools and is best for teams looking to get acquainted with Trello.

The "Standard" plan offers advanced checklists, along with the basic features included in the "Free" pricing option. It is priced; at $5/user/month upon annual billing.

The "Premium" plan offers a dashboard view to get analytical insights along with the features included in the "Standard" pricing option. It is priced; at $10/user/month upon annual billing.

The "Enterprise" plan allows users to maximize Trello's functionality and create unlimited workspaces. It is priced; at $17.5/user/month upon annual billing.

4. Proggio

Proggio offers patented project maps and weaves together a single point of truth for your organization, eliminating silos. At the highest level, you can get a birds eye's view of the entire portfolio with each project's milestones, progress and status represented on a clear timeline.

Proggio Features

Here are some exclusive features of Proggio:

Customizable Dashboards: Proggio offers multiple dashboard capabilities to reveal relevant data for customized use instantly. You are offered 3 Preset dashboards, which can be personalized to suit your task requirements. The "Portfolio Dashboard" shows you a high-level view of ongoing projects, whereas the "Project-level Dashboard" lets you toggle between projects and see the data that you define.

Personalized Views: With Proggio, you can save your personalized view. It allows you to recognize your high priorities and critical items. You can go to any section, apply relevant filters to weed out the unnecessary results and save the view; to quickly access the list for future reference.

Project Portfolio: Proggio offers project portfolio clarity and empowers your team with autogenerated reports. It enables you to optimize your judgement calls through real-time insights. You can get delayed activities alerts and workspace notifications to avoid disruptions. Proggio digitizes your project workflow seamlessly and helps you maintain a professional outlook for your business.

Project Map: Proggio offers a detailed visual depiction of your projects laid out in a map. Here, you can distinguish projects based on their core department and planning phase. It gives you a clear outlook on your company's proceedings and helps you remain on course to deliver the assignment.

Integrations: Proggio supports integrations with the major business platforms. You can switch between built-in integrations and direct API development; to unite your developmental tools. Proggio integration with Jira creates Jira "Listeners", through which you can follow any upgrades or changes done inside your Jira tool.

Proggio Pricing

Proggio offers 4 Pricing options according to your specific business requirements.

The "Basic" plan is priced at $250/month upon annual billing with no limitations on users. You get all core project and task management features within this subscription.

The "Business" plan is priced; at $800/month upon annual billing. You get the advanced portfolio management and budget control features within this subscription.

The "Professional" plan is priced; at $1500/month upon annual billing. You get the on-premise Jira integration and project prioritization within this subscription.

The "Enterprise" plan offers multiple workspaces, an admin portal and premium support. You can contact the sales team to get a price quotation for this subscription.

5. Nifty

Nifty reduces project development cycles by providing all relevant tools to handle the project from initial stages to completion within a single platform. It's a project management software that promotes milestone-driven progress and enhances team productivity by keeping users inspired.

Nifty Features

Here are some exclusive features of Nifty:

Project Portfolios Management: Nifty allows you to control participation by providing full control over the project's privacy. You can move a project across portfolios and alter portfolio ownership to tailor the workspace according to your requirements.

Time Tracking: With Nifty, you can avoid switching between multiple tools for time tracking as it provides an inbuilt feature to track "time spent on a task" and billable hours of your employees. You can perform detailed breakdowns to get a deeper insight into a team member's logged hours. Moreover, you can also track hours from a team's perspective to efficiently manage workload.

Reporting: Nifty's reporting tools enable you to view tasks cognate to every project's milestones. It provides a comprehensive understanding of the ongoing operations. So you can get a detailed overview of what's happening with your projects.

Discussion Facilitation: You can easily set up a knowledge hub within Nifty to enable thorough discussions that facilitate efficient and effective decision making. Nifty also allows users to have; one-on-one interactions with project members or create threads to answer FAQS. Nifty turns your discussions into actions enabling you to create new tasks from the conversation channel.

Agile Project management: Nifty offers you a flexible approach for project management so you can complete tasks quickly and finish more projects. You can create project specifications and provide an actionable context to your managers.

Workflow Automation: With workflow automation, you can provide your employees with necessary assistance by automating repetitive tasks so they can complete assignments on time. Moreover, your developers can customize the Nifty dashboard to fit their requirements.

Client management: Unlike other project management tools, Nifty allows you to connect with your clientele and submit periodic reports with the project status. It streamlines communication and enables you to gather feedback from the client while the project is still ongoing.

Nifty Pricing

Nifty offer 5 Pricing options for businesses to; simplify project management and track employee work-rate.

The "Free" plan allows you to add several team members without any limitations and provides a 100MB storage space. It is a free subscription plan and is best for personal requirements.

The "Starter" plan includes all intrinsic features of Nifty and kicks up the storage space to 100GB. It is priced; at $49/month.

The "Pro" plan is best for scaling teams and offers unlimited project creation abilities. It is priced; at $99/month.

The "Business" plan is tailor-made for businesses with advanced requirements and provides Open API. It is priced; at $149/month.

The "Unlimited" plan is a fully scaled solution for enterprises and unlocks the maximum potential of Nifty. It is priced; at $499/month.

6. Workfront

Workfront allows you to manage global operations and complex tasks, enabling you to deliver measurable outcomes at a rapid pace. It orchestrates and executes work across the enterprise, helping you connect strategies across various checkpoints. Workfront supports different work methodologies, helping your team stay productive with automated workflows and engaged by personalizing the way they work.

Workfront Features

Here are some exclusive features of Workfront:

Flexibility: Workfront is built to help all industries, whether they're more focused on marketing or the technical aspect. It provides solutions for all businesses by letting users personalize the systems according to their preferences. With Workfront, your teams can avoid burnout and deliver their best work without any degradation in quality.

Integrations: Workfront offers several integrations to help you unify your project management tools in a single platform. Additionally, it ties up with Adobe creative cloud so you can update documents or fulfil tasks from Photoshop or other Adobe powered applications. Workfront's seamless integrative ability ensures you don't waste your time switching between systems.

Security: Workfront recognizes that system security is essential for effective project management tools. It uses high-end AES 256-bit encryption to protect data from any mischievous elements and ensure privacy. Additionally, Workfront doesn't store the customer data on unencrypted devices, making you; completely immune to system hacking.

Work Management: Workfront connects your strategic processes to the delivery and ensures you can perform the right actions at every level. It provides automated workflows and reporting tools that can help you forecast the entire lifecycle of a project. Workfront reduces time spent on repetitive tasks by enabling your teams; to seamlessly collaborate on various issues. You can prioritize projects nearing the deadline date and adopt a goal-oriented approach to your work.

Services and support: Workfront provides guidance and support to your organization so you can sustain your scaling operations. With the on-demand training and consulting services, you can utilize Workfront to suit your organization's requirements and optimize your personal platform to elevate your success.

Scenario Planner: Workfront's Scenario Planner allows you; to continuously scheme your business operations and successfully acclimatize to new market conditions. You can create several scenarios for how a project will play out with minimal input and compare them to choose the best route. It helps you become more insightful regarding your projects.

Workfront Pricing

Workfront offers 3 Subscriptions plans with varying pricing options based on your business requirements.

The "Enterprise" plan comes with advanced support plus premium APIs and Integrations. You can request pricing from the sales team.

The "Business" plan allows you to set unlimited reviewers for projects and perform enhanced analytics. You can request pricing from the sales team.

The "Pro" plan provides efficient resource management plus content and review proposal capabilities. You can request pricing from the sales team.

Why use Project Management Software at all?

Project management software is specifically created to handle and organize your workload. You can prioritize urgent tasks and stay in line with the company's policy while performing tasks. Additionally, your business expenses stay within the budget, and you can get valuable insights into your financial operations.

Every business works with clients in some way. The best way to ensure profitability is to execute and plan projects with maximum efficiency. Project management software simplifies your business processes and helps you analyze your projects better. So you can allocate resources at the right time for quick implementation.

Why should you use Project Portfolio Management Software?

Project portfolio management software enables you to manage your tasks and portfolios with essential resources. So you can plan, execute and monitor with high efficiency. It ensures that strategic investments are aligned; with corporate priorities and that your activities can be carried out; on time.

You can create dynamic projects, allocate resources in a Gantt chart and control the management of every resource swiftly without switching between platforms. Moreover, you can define activities by scheduled tasks and assign managers.

Project portfolio management software provides you; with complete control of your business data and makes rescheduling issues easier. You can view the allocation of each resource in a project and see how it's affecting the overall development. It makes the planning phase more efficient and profitable for your company.

During project execution, you can define deadlines, and your PPM tool will automatically notify relevant professionals. It ensures everyone in your organization is aware of their latest assignments and removes the risk of redundancies.

You can visualize the critical path and ensure that every project is on schedule. Once a project is completed, you can monitor the employee's work status and timesheets to bill them accordingly. PPM tools simplify your overall process of finishing a project and ensure you consider every granular aspect.

Project Management Software for Portfolio features, A Summary

Project management software combined with Portfolio can boost your understanding of an ongoing project. You can see how many hours are being logged on a task and whether you have allocated the right team. It ensures you can take quick action and maintain high productivity to stay on schedule.

Wrike offers project portfolio management, plus several analytical and organizational tools to enhance your business operations. It is our suggested pick for a project portfolio management software. Visit the website to get started.

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