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When we think of PPM software, we think of a million different platforms and tools. Itโs a saturated market that has led to the breakdown of promising projects and portfolios for teams worldwide.
From siloed data to poor platform adoption, the setbacks are rife. But the best project portfolio management software is one with fewer functionalities. See, sometimes less is more!
In this short and sweet guide to PPM software features, weโre revealing the top eight must-have functionalities for any powerful project portfolio management software. Weโll also dive into the key benefits of Project Portfolio Management.
Why not check out the rest of our features? edison365 is an end-to-end platform ready for much more than just Project Portfolio Management.
Well, according to TeamStage, 77% of high-performing projects now leverage technology. Reinforcing the need to grasp what PPM software features you need, and why they can truly make a difference!
What will you know by the end of this guide?
- The 8 key features needed to take your projects and portfolios the distance
- All the benefits of project portfolio management
- The importance of these features for the future of PPM
What is PPM Software?
Project portfolio management (PPM) Software refers to a tool that helps organizations plan, manage, and optimize their projects and portfolios. Some of the core functionalities of PPM software include project planning, portfolio management, reporting and monitoring, real-time collaboration, and resource management.
Think of it as a step up in simply managing projects. PPM software is a strategic tool that not only aligns projects with business objectives, but improves decision-making, enhances efficiency, and improves organization-wide visibility over all projects and the portfolios they live within.
This only scratches the surface of the benefits of project portfolio management, however, we will revisit these later on in this guide. Now letโs take a look at what makes the best ppm software!
What is the best PPM Software?
The best PPM software depends on the specific needs of your projects and portfolios. Remember, thereโs no โone-size-fits-allโ with project portfolio management software. That said, there are several well-respected solutions in the PPM software space to consider.
Below, weโve compiled some of the leading PPM software on the market as of 2025. This includes Monday.com, Smartsheet, Wrike, Zoho Projects, Planview, ClickUp, edison365, and Prism PPM.
| PPM Software | Best for | Key Features | Pricing | Free Trial? |
|---|---|---|---|---|
| Monday.com | Visual projects and powerful team workflows | Automation, dashboards, workflow views, Gantt Charts. | Mid-tier | โ |
| ClickUp | all-in-one productivity for small to medium project teams. | Document management, dashboards, goal-tracking, custom views. | Mid-tier | โ |
| Zoho Projects | Small businesses and project operations. | Task lists, time-tracking | Affordable | โ |
| Wrike | Collaborative, cross-functional teams. | Time tracking, templates, dashboards | Mid-high | โ |
| edison365 | end-to-end PPM delivery for small and large enterprises and PMOs | Business case management, resource management, reporting, custom templates. | Mid-tier | โ |
| Prism PPM | Project-focused teams who need a simple solution. | Portfolio tracking, benefit realization | Mid-high | โ |
| Smartsheet | Excel-style PPM management. | Gantt Chart Views, Grids, Cards, Reporting. | Mid-high | โ |
| Planview | Large-scale Enterprises and PMOs. | PPM modelling, strategic planning, governance. | Enterprise-level | โ |
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From project plan to project perfection. Do your best work, every step of the way with edison365
#1: Resource Management for Optimized Workloads
Resource Management is one of the most important PPM software features. It helps project managers allocate and optimize resource effectively, and budget with confidence across numerous projects. This means less overutilization or underutilization of resources!
Why is Resource Management Important?
Resource management is important because it prevents future mishaps and bottlenecks as teams navigate between tasks and projects within their portfolio. Many platforms also allow users to dive into real-time reporting and analyze the supply and demand of different resources for different projects.
These valuable insights provide improved visibility, minimize employee burnout, and ensure deadlines are reached on time. Without this PPM software feature, many portfolios are managed blindly!
Tools That Offer Resource Management:
- Monday.com
- Smartsheet
- edison365
- PRISM PPM
- Planview
- ClickUp (basic)
Quick Note: With edison365, users manage all types of resources, whether itโs people or specialized equipment. A total game-changer than many users love!
#2: Real-time Reporting for Smarter Decisions
Some might say real-time reporting is the backbone of smarter project portfolio management software. These insights help teams understand the progress of various projects within a portfolio so managers can make more informed, swifter decisions.
Why are Project Reporting Dashboards Important?
In the project world, visibility is everything! Most PPM software should provide you with a way of tracking and managing projects in real-time. This insight helps you make strategic decisions, work efficiently, and avoid costly setbacks.
PPM Software That Offers Reporting Features:
- Monday.com
- edison365
- Smartsheet
- Wrike
- ClickUp
- PRISM PPM
- Zoho Projects
#3: PPM Collaboration Across Departments
Real-time collaboration is a must-have PPM software feature. This refers to the ability to share updates amongst teams, assign tasks, and communicate in real-time. Think of collaboration as a way for teams to work harmoniously across your portfolio.
Why is Collaboration Important for Project Portfolio Management?
When communication breaks down, projects and portfolio follow suit. Itโs through collaboration that accountability is upheld within your projects, and visibility stays high! As the world emerged from the COVID-19 pandemic, real-time collaboration flourished!
Need we say anything more as to why collaborative features make for powerful PPM software features? I donโt think so! But which platforms currently offer this in 2025?
Tools that Offer Robust Collaboration Features:
- ClickUp
- Wrike
- Monday.com
- edison365
- Zoho Projects
Quick Note: With edison365, teams can delegate, manage, and interact with different tasks, projects, and more, making it the ideal PPM software for medium and large teams.
#4: Risk Management for Robust Mitigation
Risks management allows team to log, track, and assess various risks they are confronted with. These Risks occur at every stage of your project as teams strive for success. But rather than turning a blind eye to the obstacles your projects face, risk management capabilities can be a total saviour.
Why is Risk Management an Important Feature?
Unmanaged risks grow rapidly and can have disastrous impacts on your project portfolio management strategy. Thatโs why great PPM software will help you to mitigate risks before itโs too late, ensuring a structured approach is taken for your projects to be delivered promptly and within the original budget set.
In a nutshell, risk management is your mystic ball into the future of a project, when things progress, and different stages begin. Itโs important to understand how everything evolves, and the positive or negative impacts that presents!
Tools that Offer Risk Management Features:
- Planview
- edison365
- Wrike
- Prism PPM
#5: Custom Templates for Rapid Project Setup
When it comes to project portfolio management, one of the greatest PPM software features you should consider is templates. With customizable templates, you can capture what worked well with your previous projects and portfolio and turn that into a blueprint for success.
Why are Custom Templates Important for PPM?
Not all PPM software offers template functionalities, and if they do, they must be fully customizable. See, bespoke templates reduce setup times and help you enforce the right practices across your project portfolio management strategy.
PPM Software That Offers Template Functionalities:
- edison365
- ClickUp
- Monday.com
- Smartsheet
In our latest YouTube video, edison365 Customer Success Manager Rob Toon walks us through the creation of forms, and how templates can help you succeed! See why templates should be on your list of must-have PPM software features! ๐
#6: Financial Planning and Budget Optimization
With financial planning features, teams can budget accurately, plan accordingly, and monitor the financial health of their projects and portfolios all in one place! Thatโs why financial tracking, and cost analysis tools make for great PPM software features. They take the guesswork out of your PPM efforts and ensure your decisions are backed by the numbers.
Why is Financial Planning Important for PPM Software?
Without the right insights into project financials and budgets, your projects and portfolios run the risk of failing to meet an ROI. This can cause major setbacks to other projects where budget can no longer be allocated.
In a nutshell, the right financial tracking ensures budgets align with your goals and ensure better financial decisions are made across the PPM lifecycle.
Tools that Support Financial Planning in PPM:
- edison365
- Smartsheet
- Planview
- Zoho Projects
#7: Project Portfolio Tracking for full Visibility
Although weโve touched on reporting dashboards already, Portfolio tracking definitely deserves to make this list of PPM software features. Thatโs because through PPM tracking, managers have a higher-level view over all the essential details surrounding active portfolios.
Why is Project Portfolio Management Tracking Important?
But what makes Project Portfolio Management tracking so important to PPM software? Well, not only does it help you identify deeper-level risks, prevent undetected hurdles, or discover overlooked opportunities and benefits, but it also steer the PPM ship with a clear view of the horizon and the path your projects and programs are on!
Tools that Support Project Portfolio Management Tracking:
- Prism PPM
- edison365
- Wrike
- Planview
Quick Note: edison365 helps you track and monitor your resource utilization, risks, benefit realization, financial budgets, and more! An all-round PPM software!
Recommended read: Complete Guide to Construction PPM
#8: Business Case Management for Idea Validation
The final addition to this list of PPM Software features is business case management. This helps you move from concept to project with the confidence and research necessary. From forecasting ROI to upholding strategic alignment across your portfolios, business case management is paramount.
Why is Business Case Management a Key PPM Software Feature?
Business case management is the difference between chasing every project your team can think of, and investing in the right opportunities wisely. To put it simply, strong business cases typically turn into higher project success rates, ensuring projects are aligned from start to finish.
Tools That Offer Robust Business Case Management:
- Planview
- edison365
Watch our Customer Success Manager Rob Toon demonstrate the simplicity taking projects through a bespoke business case process and validate your best opportunities before you invest in them.
Key Benefits of PPM Software
Project Portfolio Management (PPM) Software helps teams understand which projects they should prioritize based on what provides the best ROI for their business.
Rather than managing projects in a siloed manner, PPM software ensures managers can evaluate and control their whole portfolio strategically.
Strategic Alignment
PPM software helps teams find a new focus; one that is aligned to high-impact work. This means that all projects contribute actively to ongoing goals, instead of missing the mark or failing to achieve an ROI.
Enhanced Control and Visibility
The next benefit of PPM software is the enhancement teams can enjoy over the control and visibility of all active projects. This ensures better governance, project tracking, and overall delivery.
Minimized Risk Potential
Through identifying portfolio-level risks, full-scale plans and projects can be adjusted earlier on. Instead of focusing on the risks of a single project, portfolio risks give you a stronger chance at avoiding setbacks.
Overall Improvement of Project ROI
The right PPM software will in turn improve project ROI. Why? Because you are making strategic and aligned decisions, and focusing less on low value opportunities by improving how you prioritize projects.
Deliver powerful end-to-end projects with edison365
From project plan to project perfection. Do your best work, every step of the way with edison365
The Importance of These 8 PPM Software Features
These PPM software features are important for many reasons. Firstly, they are pivotal to the success of project delivery, realizing the benefits of your PPM efforts, and delivering value-driven projects. Whilst some may solely aid strategic portfolio management, others are must-haves.
As organizations turn to the likes of AI and cloud-based software to help them achieve their goals efficiently, ignoring the need for PPM software can be damaging. It could result in businesses losing their competitive edge, and falling behind the industry, who have adopted the right tools.
Ultimately, we advise all project managers to begin researching the right PPM software in 2025, ensuring they continue to deliver their best projects with maximum results and impact. Hopefully, this list of key features can act as a buying guide of sorts as you explore different options!
We recommend you read our Smartsheet vs Microsoft Project guide, which outlines the positives and negatives of each platform before you make your decision! Alternatively, you can also compare edison365 and Microsoft Project Online!
Technology shows no sign of slowing down, and as PPM software features go from strength to strength, these tools can reduce mistakes, speed up project portfolio management delivery, and make the daily lives of project professionals easier.
Believe it or not, we are still early into the software revolution that will change the face of many industries and professions, including project managers! Whether itโs edison365, or one of the many other powerful options out there, now is the time to digitalize your strategy once and for all!
