Issues And Trends Within Portfolio And Project Management Platforms
In a previous blog post, we have talked about the fundamentals of project management and what key features a project manager would require in order to manage projects in a more convenient, automated and streamlined manner
We also discussed how programs that can cater to the needs of project managers through task automation, data analytics and budget management can help PMO managers make their task easier.
In this article, we will be talking about trends and issues related to Project Management and how you can follow those trends in order to develop a more productive approach to the project management needs of your company.
First, we will be talking about the issues that most people face using PPM (Project and Portfolio Management) software. These issues include:
Complexity — PPM includes many features and functions which can be delivered as one single product or as a suite of multiple solutions. As vendors acquired multiple products and tried to integrate them, the result was sometimes a system with inconsistent user experience or complicated workflows.
Cost — Due to how complex they can be, PPM software isn’t as affordable as project management. While there are new cloud solutions that are more accessible, there are extra costs for configuration or customization as well as professional services such as implementation and change management.
Compliance — Companies using PPM need to make sure that they comply with project management standards as well as regulations to protect privacy and prevent financial fraud.
Flexibility — While companies using PPM require robust and advanced features, they also need flexible systems that have the potential to adapt to their business. To address this challenge, vendors are trying to offer configurable user interfaces and the ability to modify workflows without disrupting their work. This also includes the flexibility of a company in regards to scaling, where there is a need to accommodate more teams within an organization.
Now that we’ve analyzed what kind of issues that we can face when using common PPM Platforms, we can discuss trends within PPM platforms.
Cloud — Most PPM products were developed a long time ago and are delivered both on premises and in the cloud. While the cloud is gaining traction in the market, many enterprise companies still host and manage the product on their premises. Cloud-native PPM software is mostly used by medium-sized companies that prefer not to invest in hardware and specialized IT personnel, which in itself can take up a lot of space and capital.
Work management — Work management refers to the evolution of project management software to expand outside of its traditional reach. This is done by providing features for employees who are not project managers but are involved in projects. The lines between work management, PPM, and project management are very unclear, so buyers need to be careful when choosing between them. Work management software is rarely a good alternative to PPM because it lacks features for portfolio management but it provides important additional features such as advanced collaboration.
Automation — Intelligent technologies such as artificial intelligence (AI) have the potential to automate many of the tasks performed using PPM software. At the same time, this type of technology is not yet ready to define and monitor business strategies. While project management and execution are very likely to be automated, human involvement will still be essential for portfolio management.
Globalization — Since PPM is used by enterprise companies with multiple locations, the software should be supported in countries all over the world. This means that PPM needs to comply with a number of national and international privacy laws and provide support for different languages and currencies. Furthermore, integration with video conferencing and team collaboration software is needed to allow global teams to work together.
The G2 Grid® for 2022 has revealed the top Project and Portfolio Management Software based on reviews gathered from their user community, as well as data collected from online sources and social networks. The leader with the highest customer satisfaction rate is Smartsheet, which is the platform that we have talked about in previous articles.
We are a licensed Smartsheet distributor and trainer, and can help you develop your own system of Portfolio Project Management on the Smartsheet platform.
With our help, we can provide you with a PPM system and other personalized solutions for your company using customized templates catered towards the needs of your own company.
You can contact us to find out more about what kind of solution we can build for you and help your company progress with digital transformation.
Writers and Bloggers from Smartsheet.