10+ BEST Project Portfolio Management Software (PPM Software 2023)

List and Comparison of the Top Open Source and Commercial Project Portfolio Management Software. This Detailed PPM Software Review will Help You Select the Best PPM Tool For Your Business:

Project Portfolio Management Software is the application used by leadership and PMOs for making better decisions and maximizing the business value.

It will help them become more organized and is useful for administering resources & maintaining communications. This system will centralize the management of processes, methods, and technologies. It will help project managers and PMOs with better planning and management of projects.

Project portfolio management will give you a robust framework. It contains demand management, portfolio management, project management, and results management.

The below image will show you the key agile features to align with PPM.

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• Demand Management is for receiving, evaluating, and deciding the work requests.
• Portfolio management is about the continuous assessment of the performance of active programs.
• Project management will manage and track the progress and quality of the project.
• Results management will track the actual project and provide the reports accordingly.

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Our TOP Recommendations:

Benefits of PPM Software

PPM tool will help you with managing several projects simultaneously. It will provide real-time updates to the project managers. Project managers will be able to implement the changes in real-time. Effective allocation and management of resources can be achieved through a PPM system.

TechnologyAdvice has done a study on the benefits of PPM software. It says that the companies that use PPM tools have 38% more chances to complete the project within a budget and 44% more chances to complete the project on time.

Difference Between Project Management And Portfolio Management

It is a general misconception that Project management software and Project Portfolio management software are the same. Here we will understand the difference between these two.

Project management software is the application that will help you with executing the project and Project Portfolio management software is the application that will help you to decide the right project for execution.

Given below is the list of the Top PPM Tools being used worldwide.

1. monday.com
2. ClickUp
3. Wrike
4. Teamwork
5. Smartsheet
6. WorkOtter
7. Clarizen
8. Planview
9. Meisterplan
10. Mavenlink
11. Microsoft Project
12. Workfront
13. Sciforma0
14. Celoxis
15. ProjectManager
16. Asana
17. Jira

Comparison of Best PPM Software

Let’s Explore!!

#1) monday.com

Best for small to large businesses.

Pricing: It provides four pricing plans i.e. Basic ($17 per month), Standard ($26 per month), Pro ($39 per month), and Enterprise (Get a quote). All the mentioned prices are for annual billing and for 2 users. It offers a free trial for the product. You can choose the number of users as per your requirement.

monday.com provides Project Plan Solution for teams worldwide. It can be used to plan, manage, and track the projects. It provides functionalities for collaboration and communication for teams. You will be able to handle complex projects with monday.com.

Features:

• You will be able to assign work.
• It has the capability of providing automated notifications.
• You will be able to map out milestones, prioritize, and set deadlines.
• It provides various views to track the progress of the project, such as calendar view, chart view, files view, etc.
• monday.com can be integrated with your favorite tool

Verdict: monday.com is a highly customizable tool. The tool will provide you a high-level overview of your work. You can customize the dashboard the way you want to track progress and gain important insights.

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#2) ClickUp

Best for Small to Large Businesses.

Pricing: The price starts at $5 per user per month for a plan that is ideal for small teams. Mid-sized teams will benefit a lot from its business plan which is priced at $12 per user per month.

The business plus plan, priced at $ 19 is ideal for businesses with multiple teams to manage. Businesses who seek a custom plan will have to contact the ClickUp team. A free plan is also available.

ClickUp makes portfolio management look like a walk in the park, thanks to its ability to manage multiple types of tasks alone. It allows project managers to plan, create, track and manage any type of work on the platform. The platform allows you to collaborate with a team of multiple members in real-time with the capability to chat and assign comments to sections of your task for added efficiency.

Features:

• Highly customizable dashboard
• Track project progress with visual widgets.
• Upload any existing projects onto ClickUp
• Easily break down tasks into subtasks and checklists.

Verdict: Everything you need and expect from a project portfolio management app is what ClickUp offers. It is probably the only app you’ll need to manage tasks and improve online collaboration. Add to that, the app is ideal for managing tasks for a wide range of functions such as sales, marketing, finance, etc. This one is definitely worth checking out.

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#3) Wrike

Best for medium to large businesses.

Pricing: It offers a free trial. It also offers a free plan for up to 5 users. Wrike has four more pricing plans, i.e. Professional ($9.80 per user per month), Business ($24.80 per user per month), Marketers (Get a quote), and Enterprise (Get a quote).

Wrike is a project management and work collaboration platform. This project management platform will help you with setting goals, aligning goals, and managing resources. Various add-ons are available at an additional price.

Features:

• It has dynamic Request Forms and Gantt chart that will help you to simplify project planning.
• Wrike Proof tool will streamline the collaboration.
• You will get better visibility through Dashboard as it gives a bird’s eye view of task management. You will be able to dive deeper as per your requirement.

Verdict: This project management platform is for all the teams. Wrike’s Custom Workflows will turbocharge the processes.

#4) Teamwork

Best for small to large businesses and freelancers.

Pricing: Teamwork has four pricing plans, Free (forever free), Deliver ($10/user/month), Grow ($18/user/month), and Scale (Get a quote). All these prices are for annual billing. You can try the platform for 30 days.

Teamwork is an all-in-one project management platform for client work. It is a feature-rich platform and will help you with delivering the projects on-time and on budget. It has functions for managing the projects, clients, teams, etc. You will be able to track every billable minute with this tool.

Features:

• Real-time collaboration features
• Time tracking capabilities
• Supports unlimited clients
• Templates

Verdict: Teamwork offers advanced features for running the client services business. It is a flexible solution and will let you work as you want with visual boards, task lists, Gantt Charts, etc. It will even allow you to organize the workflows as per your requirement.

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#5) Smartsheet

Best for Small to Large Businesses.

Pricing: Pro: $7 per user per month, Business – $25 per user per month. You can also contact the Smartsheet team directly to get a custom quote for your business. A free plan with limited features and a free trial is also available.

Smartsheet is an online project management and collaboration tool that comes loaded with features that make seamless portfolio management possible.

With features like automated alerts, quick sharing across multiple teams and team members, resource management, budget management, and real-time task-tracking, Smartsheet streamlines and simplifies the process of managing project portfolios.

Features:

• A collaborative platform to connect all team members on a project
• Automate repetitive tasks and processes
• Forecast resource needs and finds the best team to handle project
• Manage crucial processes pertaining to project portfolio at scale.

Verdict: Smartsheet provides you with all the tools you need to streamline the management of your business’s project portfolios. The platform is incredibly simple to use, features impressive reporting capabilities, and comes with a management dashboard that makes all of its capabilities easily accessible.

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#6) WorkOtter

Best for Small to Large Businesses.

Pricing: Three plans are available. You’ll have to contact the WorkOtter team to get a quote for each of these plans.

As a PPM software, WorkOtter offers a plethora of enticing features. For starters, the platform boasts world-class animated dashboards that make your PMO look visually stunning. In addition, the platform is easy to use, allowing users to adjust and setup project workflows in a quick and efficient manner.

You also get interactive project workflow maps that comprehensively convey the progress your project is making. Furthermore, you can define user roles to determine who gets access to the dashboard and who can edit them. These workflow dashboards can also be downloaded in multiple formats and can be shared with people outside the organization at no additional charge.

Features:

• Project Management Automation
• Intuitive Resource Management
• Animated Dashboard to Visualize Project Workflows.
• Integrates with platforms like Jira, Google, Microsoft 365, etc.

Verdict: Thanks to its easy set-up and feature-rich nature, WorkOtter is easily one of the best projects, resources, and portfolio management platforms out there. This is a platform that we believe will benefit engineering, IT, product development, and other teams engaged in the act of managing projects for their organization.

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#7) Clarizen

Best for small to large businesses.

Price: Clarizen has two pricing plans i.e. Enterprise Edition and Unlimited Edition. You can get a quote for its pricing details.

Clarizen offers three products i.e. Clarizen One, Clarizen Eagle, and Clarizen Go. It is a cloud-based solution. It will help you with managing several projects simultaneously. Project managers will get a view of the progress in real-time. This platform supports Windows, Mac, and Linux platforms.

Features:

• Clarizen eagle is for seamless collaboration.
• Clarizen One is for project management.
• Clarizen Go is for task management.

Verdict: This platform will allow project managers to implement the changes in real-time. It is useful for many tasks such as setting or resetting the priorities, shuffling the resources, and allocating budgets.

Website: Clarizen

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#8) Planview

Best for small to large businesses.

Price: Planview project place price starts at $29 per user per month (billed annually). Planview provides a fully functional free trial for 30 days.

Planview offers three products i.e. Planview Enterprise One, Planview PPM Pro, and Planview Projectplace. Planview PPM will accelerate the development of projects. You will be able to manage the product from the start to the end. It will give you visual and real-time reports. It provides in the cloud as well as the on-premises deployment.

Features:

• Planview Enterprise One has features and functionalities of Strategic Planning, Investment Prioritization, Financial Planning, Program Management, and Roadmapping.
• Planview PPM Pro has features of top-down project portfolio management, resource management, What-if scenario planning, Strategic alignment, NPD portfolio management, and project dashboards & reports.
• Planview Projectplace has features of Collaborative workstreams, Gantt charts, Kanban boards, Workload view, Workspace overview, and Document collaboration.

Verdict: Collaboration features will make it easier for employees, customers, and partners to collaborate on new ideas or innovations. This platform will help you with prioritization and planning. You will be able to get insights on technical viability, financial impact, resource capacity, complexity, and risk.

Website: Planview

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#9) Meisterplan

Best for small to large businesses.

Price: Meisterplan offers three pricing plans i.e. Starter Package ($199 per month for 1-20 resources), Business Packages ($299 per month for 21 to 30 resources), and Enterprise Packages (Get a quote).

For the business packages, you can select the number of resources as per your requirement and the cost will change accordingly. It also offers a free trial for 30 days.

Meisterplan will give you visibility over the impact of circumstance change on the project, employees, finances, and the project portfolio as a whole. This platform will allow you to create a master portfolio as well as sub-portfolios. Using scenario planning, you will be able to find answers for all the what-if questions.

Features:

• It has features to track delivery and milestone timelines.
• It has features for strategic alignment & project prioritization and that will help you to reorder projects in case of priorities change.
• Resource Management will give you a perfect overview of employee skills, availability, and capacity.
• Financial management features will allow you to add specific financial information for each project.

Verdict: Meisterplan is rich in features. You will be able to keep a track of the budget for the portfolio. It will give you visibility over impacts on financial resources due to project changes.

Website: Meisterplan

Recommended Read => Best Project Management Tools

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#10) Mavenlink

Best for small to large businesses.

Price: A free trial is available for the product. There are four pricing plans i.e. Enterprise (Get a quote), Premier (Get a quote), Professional ($39 per month per user), and Teams ($19 per month for 5 users).

This is the project management platform that supports Windows, Mac, and Linux platforms. It provides in the cloud and on-premises deployment. It has features for team collaboration, project management, project accounting, resource planning, and business intelligence.

Features:

• Project management will be easier with the features of project plan templates, Gantt charts, portfolio management, critical path analysis, and task assignment & duration.
• Project accounting will be more accurate with features like time & expense tracking, time cards & expense reports, invoicing & online payments, etc.
• Resource planning features will allow you for the hard & soft resource allocation, resource scheduling, resource shaping, and real-time availability forecasting.

Verdict: Mavenlink will provide real-time analytics. The mobile app is available for team collaboration. This solution will help with project portfolio management because of its features like project accounting and resource planning.

Website: Mavenlink

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#11) Microsoft Project

Best for small to large businesses and freelancers.

Price: Cloud-based solution has three pricing plans i.e. Project Online Essentials ($7 per user per month), Project Online Professional ($30 per user per month), and Project Online Premium ($55 per user per month). A free trial is available for Professional plan for 30 days with 25 licenses. The premium plan can be tried with a partner.

Microsoft Project is the Project management software with functionalities for portfolio management. It provides cloud-based as well as the on-premises deployment. It supports Windows, Android, iOS, and Windows phone platforms.

Features:

• For Project Management, it has features of built-in templates, project planning, reports, multiple timelines, and real-time reporting.
• For Portfolio management, it has features of portfolio optimization, evaluating project proposals, seamless BI integration, and reports.
• For Resource Management, it has features of a systematic resource request, visual heat maps, resource analytics, and integrated collaboration solution.

Verdict: Microsoft Project is one of the popular PPM solutions. Along with project management, it also has features for portfolio management and resource management.

Website: Microsoft Project

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#12) Workfront

Best for medium to large businesses.

Price: Workfront has four pricing plans i.e. Team, Pro, Business, and Enterprise. You can get a quote for its pricing details. As per the reviews, the starting rage for the product is $30 to $40 per user per month.

Workfront is an online work management software. It provides solutions for marketing, IT, agencies, professional services, and product development. It is a scalable solution that will allow you to automate workflow and facilitate digital collaboration.

It provides features like Work Breakdown structure which will let you break down the projects into small tasks.

Features:

• It has features for Project management, Workflow automation, and Team collaboration.
• Workfront Library will help you with managing, connecting, and delivering the approved content.
• It has functionalities for streamlining digital asset management.
• Resource management and agile project management features.

Verdict: Workfront Fusion provides a codeless interface connect to the Workfront platform with over 100 standard business applications. Review and approve tools will stop your hunting for approvals and gathering comments.

Website: Workfront

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#13) Sciforma

Best for small to large businesses.

Price: Sciforma offers a free trial for the product. You can get a quote for its pricing details. As per the online reviews, its price starts at $17 per month.

Sciforma is a portfolio and project management software. This platform will improve staff utilization and project delivery timelines. Available deployment options include cloud, on-premises, and SaaS. Its team portal will give you an overview of upcoming work, calendar requests, and issues assigned to them.

Features:

• Sciforma has the functionality of time tracking.
• It has features of calendar management, issue management, and change management.
• Calendar management features will help you to review the upcoming assignments.
• It provides execution management features like team portal, demand management, agile task board, etc.

Verdict: Sciforma is a scalable platform that is accessible anytime on any device and provides security to your data.

Website: Sciforma

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#14) Celoxis

Best for small to large businesses.

Price: It offers a free trial for 30 days. For a cloud-based solution, it would cost ($25 per user per month) monthly, ($22.5 per user per month) yearly, and ($21.25 per user per month) for 2 years. For on-premises solution, you will be billed $450 per user.

Celoxis is an all-in-one cloud-based solution for project management. You will be able to get automatic cost and revenue estimates for the projects.

Celoxis has features of project request tracking, project planning, resource management, project tracking, project accounting, portfolio management, time & expense, and team & client collaboration.

Features:

• It has features for tracking budgets, costs, and profits in real-time.
• Project execution can be monitored visually.
• Collaboration features will allow you to share files, exchange comments, and discuss online.
• Resource management features will help you to perform a skill-based allocation of resources.

Verdict: Celoxis can be integrated with more than 400 popular business applications. For project planning, it has automatic scheduling, inter-project dependencies, and multiple resources per task. Like Meisterplan, this platform also has a wide range of functionalities.

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Suggested Reading=> Top Project Management Apps That You Should Be Aware

#15) ProjectManager

Best for large businesses.

Price: ProjectManager offers a free trial for 30 days. ProjectManager has three pricing plans i.e. Personal ($15 per user per month), Team ($20 per user per month), and Business ($25 per user per month).

ProjectManager platform has functionalities for planning, managing tasks & team, and for collaboration. It provides in the cloud and on-premises deployment. It supports Windows, Mac, and Linux platforms. You will be able to manage your team and tasks across multiple projects. ProjectManager can be integrated with Google & Gmail.

Features:

• ProjectManager has time tracking functionality.
• It provides real-time customizable dashboards that will give you an overview of the project progress.
• The platform will let you create the project plans online.
• It has Task management features.
• It provides status reports that can be exported as a PDF, Word, or Excel file.
• Through Online File Storage, you will be able to store all your project documents in one place.

Verdict: ProjectManager offers a wide range of features such as project templates, Gantt charts, Chats & Discussions, Online file storage, etc. With this platform, it will be easier to manage the team workload.

Website: ProjectManager

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#16) Asana

Best for small to large businesses and freelancers.

Price: Asana offers a free trial for 30 days. It has four pricing plans i.e. Basic (Free), Premium ($9.99 per user per month), Business ($19.99 per user per month), and Enterprise (Get a quote).

Asana provides a project management solution for managing work, tasks, and projects online.

With the business and Enterprise plan, there will be features of portfolios. It provides the features for task dependencies, Milestones, and admin console. It supports Windows, Mac, and Linux platforms. To manage tasks and personal to-dos, it has features of tasks, list view, board view, calendar view, etc.

Features:

• It will give you an overview of your team’s work.
• It will be easier to reassign or reschedule the tasks.
• This platform will help you with managing projects from the start to end.
• This tool will help you with project management in a variety of ways like Engineering, Marketing, Sales, and HR.
• It has features to track team projects.

Verdict: Asana is a work management platform that will help you to grow business. It provides a solution for the online management of the team’s work, tasks, and projects. List view, Board view, and calendar view will help you to manage tasks and personal to-dos.

Website: Asana

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#17) Jira

Best for small to large businesses

Price: Free trial of the Jira portfolio is available for 30 days. The price of the cloud-hosted solution will start at $10 per user per month. Self-hosted solution for the server will cost you a one-time payment of $10 and for Datacenter the cost will be $910 per year.

Atlassian provides portfolio software for the Jira. It has functionalities for planning, tracking progress, and sharing with stakeholders. It provides in the cloud and on-premises deployment. It supports Windows, Mac, and Linux platforms.

Features:

• The visual timeline will give you visibility over your teams and projects.
• It has features to track the work that will help to deliver the project on time.
• It will be easier to try different scenarios and implement them.
• You will be able to communicate your plans and progress.

Verdict: Jira portfolio software has functionalities to help you manage the dependencies. It can set & review cross-project and cross-team dependencies.

Website: Atlassian

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#18) Favro

Best for small to large businesses.

Favro Pricing: Favro offers the solution with three pricing plans, Lite ($25.5 per month), Standard ($34 per month), and Enterprise ($63.75 per month). All these prices are for 5 users and annual billing. A free trial is available for 14 days. Monthly billing plans are also available.

Favro is the most agile tool with four building blocks, Cards, Boards, Collections, and Relations. All of these are easily learnable. Favro Cards are useful for performing various functions such as writing, creating content, tasks, etc.

Boards will help teams with the planning and management of tasks. Collections aggregate the boards in a single screen for teams to help them focus on their work. Relations will show you what is tied all together.

Features:

• Favro offers the features for cross-team collaboration and teams will be able to collaborate in real-time.
• It is helpful for managers for getting an overview of the team’s work.
• It has functionality for automating the workflows.

Verdict: Favro is an all-in-one app with capabilities for businesses of all sizes. It can be used by newbies, team leaders, as well as by CEOs. It is a scalable platform and can adapt your special way of working.

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Conclusion

These are the top Project Portfolio Management Software. Clarizen, Planview, Meisterplan, monday.com, Celoxis, and Wrike are in the top position because of their wide range of features.

If we compare the pricing plans, Microsoft Project and Wrike have affordable pricing plans. Meisterplan is an expensive solution when compared to others but it is worth investing in such a tool as it is rich in features and will be a good solution for project portfolio management.

I hope this detailed review and comparison of the top PPM Software would help you select the right PPM tool for your business.

Review Process:

• Time taken to research this article: 18 hours
• Total tools researched: 20
• Top tools shortlisted: 12