Global Project Portfolio Management Software Market To Remarkable Grow At A Cagr Of 12.34% During The Period 2017-2021

Summary

Orbis Research Presents Global Project Portfolio Management Software Market 2017-2021 has been prepared based on an in-depth market analysis with inputs from industry experts.

Description

Latest Trends Into  – Global Project Portfolio Management Software Market 2017-2021

The Following Companies As The Key Players In The Global Project Portfolio Management Software Market: Hewlett-Packard Enterprise, Microsoft, Oracle, and SAP.

Other Prominent Vendors in the market are: Atlassian, EOS Software, LiquidPlanner, Mavenlink, onepoint PROJECTS, Planview, Sciforma, Sopheon, Upland, VersionOne, Workfront, and Wrike.

Commenting on the report, “One trend in market is emergence of analytics in PPM. Portfolio alignment and resource planning are labor-intensive processes. Predictive analytics can improve the accuracy and speed of portfolio planning by predicting the best project roadmap for available resources. The implementation of PPM with analytics improves the decision-making power of an organization. Vendors such as Innotas (a part of Planview) offer the Predictive Portfolio Analysis solution. This solution identifies the highest value projects that can be completed by taking into consideration an organization’s resource and staff constraints. Oracle PPM Cloud Analytics tracks, charts, and reviews projects by providing real-time reports based on business needs. It is designed to help a firm focus on visualizing a project’s financial information and efforts. It also tracks the project health and speeds up delivery.”

According to the report, one driver in market is growing need for cost management. PPM software uses a range of tools to improve the efficiency of an organization. Cost management involves the allocation of resources for a specific job. It is primarily relevant to enterprises in the Americas and EMEA because they operate at a much higher cost than their counterparts in APAC. Industry participants believe that organizations can make the mistake of completing a task much earlier by overutilizing their resources. PPM software helps in analyzing and surveying the type and number of projects that are undertaken by an organization. It can also verify the usage of these resources. Enterprises in APAC need to be more aware of this to ensure that their resources are managed effectively. Costs and budgets have a high impact on the performance of an enterprise. The effective management of time and the appropriate allocation of resources are essential to the success of an organization. PPM software offers time tracking and precise billing services for a project within the financial agreement.

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Further, the report states that one challenge in market is PPM implementation issues. The implementation process of PPM introduces some hurdles and common challenges. A holistic understanding of these issues ensures the success of PPM software deployment across various verticals. The deployment of PPM software in an organization requires proper change management. The data for portfolio management requires accuracy in the execution at the project level. Stakeholders also need to be mentored to ensure minimum risk. The other challenges that emerge during the implementation of the software involve organization culture, change management, allocation of resources for PPM implementation and training, and formulation of the PPM process. The business and technical capabilities that are required to implement a PPM solution are widely dissimilar. The necessary technical skills vary based on project management requirements. The possibility of failure in the implementation is high if a team lacks the required experience. The inability to deploy effectively and efficiently leads to failure when projects have tight deadlines and short delivery cycles.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.