What is Cloud Project Portfolio Management?

Cloud Project Portfolio Management is a Software as a Service (SaaS) based cloud approach designed for organizations to align projects and programs across the portfolio with strategic business objectives.

Top 10 Cloud Project Portfolio Management Vendors are:

  • Automatic Data Processing, Inc
  • Broadcom Ltd
  • Changepoint Corporation
  • Clarizen
  • Epicor Software Corporation
  • F5 Networks
  • HPE
  • Infor Inc
  • Inspirage
  • Intuit Inc

Cloud Project Portfolio Management allows end-users to improve resource utilization, reduce resource gaps, increase project visibility, automate time and expense reporting, standardize project compliance with industry regulations, and facilitate real-time communication and decision-making. It enables organizations to identify potential risks associated with budgets, resources, tasks, timelines, and goals and use in-depth analysis to define what risks offer the most rewards. This helps organizations to proactively manage risks, allowing teams to persuasively estimate potential delays and put into place measures to prevent or mitigate those risks.

VISIONARY LEADERS

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

DYNAMIC DIFFERENTIATORS

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

INNOVATORS

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

EMERGING COMPANIES

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.

What drives the Cloud Project Portfolio Management market?

Increase in the use of BYOD and mobile devices

  • The Cloud Project Portfolio Management solution offers more accessibility for the users through the mobile devices such as smartphones, tablets and laptops to their personal data from anywhere and anytime.
  • This has created a challenge for the IT teams to offers new applications and secure access to disparate platforms and mobile handsets used by the project managers and team members across multiple locations
  • Mobile teams keeps the team updated about the tasks and hence it considered as the one of the driving factors.

High adoption of cloud analytics

  • Businesses are adopting cloud analytics in the project portfolio management solution, as it provides the ability to track, chart and review projects in real time.
  • Cloud analytics also help project executives to focus on project reports, including financial information, track project health and project delivery.
  • Furthermore, cloud analytics also helps to monitor projects and performance indicators and offers actionable insights in the project performance trend.

Increasing need for ROI in process manufacturing industries

  • Asset intensive businesses require higher investments to maintain operations and business continuity.
  • Cloud Project Portfolio Management solution helps asset intensive companies to have a healthy ROI by helping them to deliver project within deadlines and a prescribed budget.
  • Cloud Project Portfolio Management also optimizes investments decisions and lowers operating costs to ensure a better ROI, which is the reason for this solution to being a driving force.

Major applications of the Cloud Project Portfolio Management solution

Project Management

  • Project management process involves initiating, planning executing, controlling and closing the work of a team to achieve specific goals and meet specific business requirements.
  • The application of cloud project portfolio management solution facilitates consistent project execution, automated compliance with the industry and employee regulations, enhanced productivity and operational effectiveness.

Portfolio Management

  • Portfolio management in cloud refers to an organizations group of projects processes which are selected and managed to offers better returns on project investments.
  • The use of cloud project portfolio management solution allows the project team to manage the overall risk of the portfolio while ensuring that the cash flow and other organizational requirements are achieved.

Demand Management

  • Demand management centralizes strategic business and project requests, streamlines investment decision process for new products, services and enhancements.
  • Cloud Project Portfolio Management solutions have the ability to assess, manage and accurately forecast the demand for products and services.

Resource Management

  • Resource management deals with the efficient and effective allocation of enterprise resources based on the business needs.
  • The resources mainly comprise of financial resources, inventory, employees, production resources or information technology.
  • Cloud Project Portfolio Management solutions optimizes organization’s efficiency, minimizes idle time and improves project execution.
  • It also ensures that the resources are provisioned with organizational needs and are in alignment with the overall business priorities.

Importance of Cloud Project Portfolio Management

Enhanced capacity planning and resource management

  • Capacity planning and efficiently managing resources is mainly reliant on how well the PMO implements its strategy and associates the use of resources to organization’s goals.
  • Misused resources is one of the major problems that companies encounter when it comes to scope creep.
  • Cloud Project Portfolio Management reduces the probabilities of misused resources by confirming that the resources are assigned based on priority and are being efficiently sequenced and cleverly used to meet intended goals.

Improved productivity

  • Cloud Project Portfolio Management solutions help PMO in communicating to the project teams and other employees, about the importance of project tasks to achieve a higher degree of productivity.
  • Employees who realize their role in reaching greater goals are more probable to work harder and pay attention to the quality of their deliverables.

Better ROI

  • Cloud Project Portfolio Management helps in gaining clarity around wider company goals, enhance resource management, and improve the productivity and agility of an organization.
  • It can also generate better wins and enhance the return on investment (ROI) of any project. With PPM, projects investment will more possibly to pay off and set companies on better stability for the future.

Real-time access

  • Cloud project portfolio management software provides businesses with real-time access to get updates about the tasks that have been completed.
  • The solutions provides users with the capability to generate timely reports and real-time analysis.
  • A good quality Cloud project portfolio management software provides users with a functionality for upper managers, all of which add to getting a better handle on the project portfolios.

Decreases redundant projects

  • An ideal cloud project portfolio management solution allows users to look at all potential project investments in a portfolio that help them in understanding the redundancy across the portfolio.
  • It also helps users in considering critical factors, such as alignment with corporate goals or the need to bring a new technology or product to market, which in turn makes it easier to discontinue unnecessary projects.

Factors to consider while choosing the right Cloud Project Portfolio Management solution

  • PriceCloud Project Portfolio Management software is available at many price points. Hence, it would important to know if implementation, training and support services are included within the software price or need an additional expenditure.
  • Scalability – It is critical to know if the cloud project portfolio management software that is to be chosen can scale up or down.
  • Quickly deployable - It’s important to discover a solution that proficiently and reasonably supports short-term, ad-hoc projects and is deployed in lesser time to support that goal.
  • Strategic Portfolio Management - When evaluating cloud project portfolio management solutions, the buyers should look for robust, strategic abilities that allow effective strategic portfolio management.
  • Application Portfolio Management – A cloud project portfolio management platform should help decision makers in choosing the applications to enhance, update and leave. It should also find what software to run on premises and in the cloud.
  • Unified Resource Management - An effective cloud project portfolio management solution must instantly find the right people to address the right issues at the right time. It should track availability of full-time employees and contractors by role, location and skill set and balance investment demands and resource capacity to effectively staff projects.

Features to be considered while evaluating a Cloud Project Portfolio Management solution

  • Unlimited Custom Fields – An ideal cloud project portfolio management solution should provide users with the flexibility to make more complex calculated fields, measures, and SQL lookups.
  • Portfolio DashboardsCloud Project Portfolio Management provides businesses with enhanced project intake, prioritization, selection, execution, visibility and accountability, not to mention improved resource management. The powerful, configurable dashboards offer visibility into the data required.
  • Project Portfolio Classification, Listing and Arrangement - A good quality cloud project portfolio management solution helps users in classifying projects by several, independent taxonomies, which can be used for filtering, grouping and sorting.
  • Project Portfolio Assessment – A cloud project portfolio management solution allows users to track the organizational units relevant to the project and identify how much each unit will benefit from the project.
  • Reporting – It provides precise reports with the option to run in multiple formats (usually including PDF and Microsoft Excel formats).

Upcoming Cloud Project Portfolio Management Trends

Implementation of OpenStack technologies will trigger the deployment of on premise-on-the-cloud solutions

  • Businesses are considering digital transformation not only as a revenue stream but also as a way of transforming their business functions.
  • Open-source technologies such as OpenStack provide organizations with a lot of flexibility, control, and scalability.

Developing economies will trigger the next wave of the rise for cloud project portfolio management software

  • The growing BYOD trend among businesses, growing business optimization needs, the leaning towards cloud-based software solutions, and increasing difficulties within projects are driving the Cloud PPM

Acceptance may still be a test that software companies will need to tackle

  • Enterprises usually deal with large projects of greater complexity, making PPM a huge priority for them.
  • Scale and complexity of projects triggers the need for PPM, and therefore enterprises have been the biggest buyers of Cloud PPM software.

The Rise of multipurpose PPM tools in SMBs

  • Using the wrong project management tools is a barrier when it comes to removing RoI from project management investments.
  • However, the trend is shifting and businesses are now moving to a more structured project management approach by investing in all-in-one PM tools.

Recent News

Planisware acquires NQI to offer a global PPM solution for medium and large companies. Through this acquisition Plansiware combines its position as the world leader in Cloud Project Portfolio Management (PPM) software.

Cloud Project Portfolio Management

Comparing 23 vendors in Cloud Project Portfolio Management across 24 criteria.
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Changepoint is a leading provider of work management solutions, including project and portfolio management, enterprise architecture, and professional services automation. It is providing Daptiv PPM, which is a tool that provides robust PPM functionality. Project management, resource management, financial management, and application portfolio management are some of the major features of the Daptiv PPM. The company is capable of providing a full range of collaboration tools for managers and team members. The effort made by the company in enhancing product capability has retained the company's position among the leaders in the PPM market.
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CA Technologies is one of the major players under cloud PPM and provides a single platform, SaaS-based CA Project Portfolio Management that helps to manage the entire innovation lifecycle further providing better insights for strategic investment. It also helps to prioritize and track the market along with the customer requirements and makes a better decision for resource planning. This platform is also capable of qualitative delivery with better cost and time management. Plainview is one of the major competitors of CA PPM. Proactive management, resource utilization, demand management, reliability, security, and availability are some of the major features of SaaS-based CA PPM that differentiates the company's solution from other market players. Apart from its expertise in product offerings, CA Technologies provides a breadth of expertise in service platform and partner network for better business results. Furthermore, the solutions are purposefully designed to integrate with other applications and products which can be considered as one of the major strengths of the company.
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Clarizen is a global leader in collaborative work management software that brings cross-company project management, configured workflow automation, and end-to-end project management solution which is accessible via cloud. Clarizen's PPM software solution helps to build project plans by adding deliverables, milestones, schedules, budgets, and resources. Centralization of projects, monitoring, and managing the complete project are several features provided by the solution. Clarizen is a purely SaaS-based solution, and Clarizenss PMP-certified customer success specialists provide expert-level support 24/7 to their customers.
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Epicor is software firm that develops industry-specific with more than 45 years in the industry for operational requirements. With more than 20,000 clients in 150+ countries, Epicor is helping businesses achieve success with the highest performance and profitability in every aspect. Epicor Cloud project portfolio management (PPM) is a complete software to help businesses work on their projects from concept to completion. Epicor PPM offers support through bi-direction integration with Project portfolio Server (PPS) and Microsoft Office Enterprise Project Management (EPM)
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HPE is considered as one of the longest-tenured SaaS providers in the IT management software and was earlier a successful market player for on-premises PPM solution. However, with the technological changes, the company shifted to SaaS-based PPM solutions which decreased its dependency on third-party vendors and helped it to remain competitive in the market. HPE caters PPM customer with HP PPM Center software. This helps organization's PMO to have better visibility into strategic and operational demands. Financial management, resource management, time management, demand management, and project and portfolio management dashboard are some of the major modules of HP PPM Center. Diversified product portfolio and highly distributed channel across the globe are some of the major strengthen exhibited by the company. However, the company robust services when compared to its offering under cloud-based PPM solutions.
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Infor has developed the OS to become the perfect cloud operating platform. By utilizing the advancements in Artificial Intelligence, it creates a better design for your cloud management to enhance productivity and business processes. It also offers insights into your business to help develop a better analysis for future procedures. It aims at combining all the forces of your business platform to become unified in their approach and puts the user at the center of each experience.
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Inspirage has created an excellent platform for enhancing business operations with the help of Oracle Cloud. The number of systems has been significantly reduced for the processes and transactions. Thereby, the services have become very simplified along with reducing management burden and costs on IT. It also becomes easier for IT to focus on other projects which can help strategise your business better. Inspirage has taken to its Rapid Value Implementation Methodology to speed up the system.
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Cloud Management as a service has grown in popularity because businesses need to enhance their connectivity as well as storage and Intuit Inc. has been a famous company to provide it. Their management service for cloud portfolios also stands out because of its simplicity and richness. Through their cloud service, they aim to enhance the data connectivity of a business. They are primarily known for their financial management options which help companies to save their funds.
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Mavenlink provides enterprise-class SaaS that is helping to transform the usual traditional way the organizations are working. Under the cloud PPM market, the company is providing various products such as project management, project accounting, resource management, business intelligence, and team collaboration. Project management helps the customers to get the real-time visibility into project status, its progress, and the cost associated. This helps to immediately recognize the bottleneck and revenue opportunities. Mavenlink provides Mavenlink IT Project Portfolio Management that is helping to transform the usual traditional way the organizations are working. Under the cloud PPM market, the company is providing various products such as project management, project accounting, resource management, business intelligence, and team collaboration. Project management helps the customers to get the real-time visibility into project status, its progress, and the cost associated. This helps to immediately recognize the bottleneck and revenue opportunities.
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PCCW solutions have developed various ways to enhance the process of cloud computing and IT management in business companies. It takes into consideration multiple challenges of the present era of massive digitization. Cloud management solutions have been developed to restore workload storage and forming a robust cloud infrastructure. Monitoring capabilities have been automated for improving the focus of significant policies and Service Level Agreement. System operations have become automatic and smoother with upgraded time implementation.
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Planisware is a global provider of cloud PPM solutions for product development and R&D organizations to manage their projects, resources, and portfolios. The company designed a web-based, fully integrated Planisware suite with comprehensive innovation life cycle coverage. This suite includes Planisware software, cloud services, and integrating Planisware into IT infrastructure. The services of this suite can be architected for physical or virtual machines in private or public cloud environments. In the cloud, Planisware offers two manage services including Planisware Live and Noovem. Planisware Live is a dedicated cloud service that offers a private cloud with dedicated hosting for customers and enterprises. Noovem is a managed cloud service that enables users to share the solution and servers. Planisware’s PPM helps enterprises by providing high-level portfolio and detailed information on projects to keep the entire portfolio aligned with overall corporate strategies and objectives. Planisware provides robust capacity planning, accurate resource demand estimation, advanced resource allocation, evaluate the cost and compare the utilization of internal and external resources, and advanced time-tracking and resource utilization analysis capabilities.
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Planview is one of the leading provider of cloud portfolio management solutions delivering seamless way to manage projects, resources and applications across the enterprise and prioritize team's work and improve decision making that matter to business. Planview Enterprise is leading product of Planview that offers features such as portfolio management, capacity planning, demand management, strategic planning, and investment prioritization. Innotas is another prominent product offered by the company that enables predictive portfolio analysis, project prioritization, and time tracking. Projectplace offers collaboration of workflows, workload management, and document management.
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Upland offers extensive portfolio in cloud PPM market space and covers all the significant features of cloud PPM. The company offers two PPM solutions for diverse users according to their different business requirements such as PowerSteering and EclipsePPM. Upland's PowerSteering is a cloud-based PPM solution, which provides flexibility feature to enterprises to support any project, program, portfolio, resource, investment, or work type. PowerSteering allows businesses to improve portfolio visibility and governance without requiring the entry of granular resource and project data through top-down portfolio management, bottom-up project and resource management, and hybrid approach. It offers all of the product functionality required to improve portfolio optimization, project execution, and resource allocation throughout the organization. It is a comprehensive solution that includes project management, portfolio management, resource management, idea and demand management, PPM financials, and knowledge management and social collaboration. Upland's EclipsePPM offers project management, portfolio management, and resource management to manage enterpriser's portfolio, projects, and resources in one place and in real-time.
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The company offers SAP PPM which is a rapid deployment solution for business users and IT staff. SAP being the fastest growing and the top cloud computing company in the world aims to continue its investments in public and managed cloud offerings. The company has invested in developing solutions for the cloud PPM market. These cloud PPM solution help in enhancing the portfolio monitoring and planning. This helps organizations to run projects on time with an optimized budget with lesser risk. Furthermore, portfolio management helps in preparing the budget and planning the project. Thus, SAP with strong product strategy is able to remain in demand in the cloud PPM market. The company is also investing a lot on their R&D with new product launches showing its financial and technical capabilities.
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The company has established itself as a trusted brand by offering one of the widest portfolios of PPM solutions. The granular level functionalities of its solutions and its associated services have given the company a competitive edge over its competitors. The company is one of the major players of cloud PPM and provides a single cloud-based platform: ServiceNow Project Portfolio Management that helps project management teams to work faster and smarter for planned and unplanned work. The platform helps enterprises to automate processes and bring incongruent PPM solutions together to gain insight into non-project workloads and avoid unforeseen project delays using a realistic view of resource availability. This enables users to access demand-balancing criteria for ensuring IT is working on the right projects aligned with goals and strategies of the business. With ServiceNow platform, the end-user and the project teams get status updates much closer to real-time and fast and timely reporting about the project and related activities. It is a comprehensive solution that includes project portfolio, resource management, demand management, test management, and agile development applications. The project and portfolio solution enables project teams to create and manage a wide range of projects containing complex activities with various relationships and dependencies. With this solution, the user can get automatically updated project timelines with the interactive task and resource allocation based on task dependencies, milestones, and resource availability. This helps the users to better understand the entire project portfolio for more informed investment decision-making while also improving the team's ability to explain the value of projects to business decision makers. Resource management allows enterprises to allocate staff effectively, see which resources are available at any given time and distribute tasks with a thorough understanding of existing resource workloads.
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Managing a platform becomes crucial when it has been introduced in business, and UST Global does that pretty well with it's Cloud Project Portfolio Management Program. Special tools have been built for managing, and the company also provides On-Demand solutions. The management team of the company is one of the best that a business can get. Both tie-up with some of the best cloud platforms from around the world.

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If we have to talk about cloud services, then Virtusa is a company that has been known for a while, and along with the platform, they also aid in Cloud Project Portfolio Management. They help a business make managing easy by providing automation options which are more comfortable for the employees to handle. They currently offer the service for different industries such as Banking, Healthcare, Telecom and Insurance. They also have some of the best cloud partners.

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