Selecting Your Portfolio Management Tool

The portfolio management solution space becomes more complicated as project portfolio management (PPM) tool vendors react to increasing expectations from their customers. Meanwhile, as firms mature in their portfolio management offices' (PMOs') processes, they place ever-increasing demands on their vendors. The result? PPM solutions come with self-proclaimed "all singing, all dancing" capability — out of the box. Although software capability is at or near the top of the list of selection criteria, there is more to selecting the best solution than just matching PPM product features and functions to your current PMO needs. The consequences of making a flawed choice ranges from problems with adoption to unrealized PPM tool investment value through to mismatched future business needs and vendor product strategies — all expensive and potentially damaging to business opportunity and profitability.