How to Choose a Project Portfolio Management Applicaton That's Right for You

In a Forrester Research survey, current project portfolio management software users were asked “If you had to remake the purchasing decision, would you have chosen the same vendor and product?” Only 30% said that they would purchase the same product again.

Some of the main reasons that users would not purchase the same product again?

  • It was difficult to use
  • Didn't deliver the promised results
  • Poor customer experience
  • Didn't fit with project management processes
  • Product wasn't used by the right staff

Many top managers outside of IT departments are just learning about some of the software tools and methods that are available to help improve their project portfolio management and save them tons of time and money. Yet even though effective project portfolio management is a proven methodology for dramatically increasing profits and decreasing costs, there are many "solutions" that just don't deliver on those promises.

Why?

With average installation costs in six-figures for many well-known project portfolio management solutions, you need to know the answer to this question before you buy. And you need to know the right questions to ask.

To help you ask the right questions, I've written a series of articles about choosing and using a project portfolio management application. Each article takes just a few minutes to read and can assist you in selecting an application that's just right for you.

1. Selecting Project Portfolio Management Tools For Maximizing Bottom-Line Value (or click here to see the presentation on YouTube!)

2. Project Ranking and Prioritization - The Heart of Project Portfolio Management (or click here to see the presentation on YouTube!)

3. Select a Project Portfolio Management Tool That Uses Real World Data (or click here to see the presentation on YouTube!)

4. Maximizing Project Portfolio Value With Real Optimization (or click here to see the presentation on YouTube!)

5. Project Portfolio Management - Getting the Best Organizational Fit (or click here to see the presentation on YouTube!)

6. The ROI of Project Portfolio Management - Is it Worth All That?

7. Project Portfolio Optimization Using Genetic Or Evolutionary Algorithms

8. The Value and Costs of Not Doing a Project Are Not Necessarily Zero

9. Managing and Optimizing Project Portfolios Containing Project Dependencies

10. Keeping Project Portfolios Optimized Over the Long Term

11. What's the Difference Between "Excellent," "Good," "Fair," and "Poor" in Prioritizing Projects

12. When Selecting Your Project Portfolio, Don't Pick Just Your Highest Value Projects

Free Project Portfolio Management ROI Spreadsheet: Click here to get a free spreadsheet template worksheet for easily calculating the return on investment (ROI) for any project portfolio management tool.