A PPM Tool Checklist

  ProjectsAtWork  

Consider these important integration issues and key features when sizing up a project portfolio management solution.

A project portfolio management solution begins with a database of all key organizational and project information, says consultant Jean Miller. From there, the solution must integrate with other functional areas. "There is no silver bullet—no single product solution that has all the functionality," Miller says. She says PPM toolsets should integrate project, organizational and reporting data requirements with:

• Best practices, standardized processes and templates.
• Ability to cost/estimate projects.
• Database of resources, skills and rates.
• Ability to create models for top-down and bottom-up views of portfolio.

In addition to integrating with existing systems, the execution of PPM can only be as good as the information collected, measured and shared. "To be effective and not just theoretical, portfolio management must be driven by secure, accurate and scalable tools that collect metrics," says PlanView's Pat Durbin. "Without both the summary level across multiple projects and detailed activity and assignment information, portfolio management is based on emotion and guesswork."

When shopping for PPM tools, consider whether these features and options are offered:

• Web-based time and expense accounting that isn't time-consuming.
• Revenue and …

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