What are the best project management PMO tools ?

How to support the project team? Save time and consistency on data analysis? To do the link between the project team and management team? Have a global view on the projects status and portfolios? Using a PMO tools ? You will discover in this article the keys to empower and structuring your project office.

In summary :

PMO strategy: Taking project management to the strategy table

Managing a portfolio of projects in a context where organisations are expanding, introducing agile working modes, covering multiple sites or countries, can quickly become a complex task.

Project and programme management practices form part of the necessary infrastructure to deliver projects that ensure reliable strategy implementation. When projects expand throughout the entire organisation, business success will then rely on the success of the organisation’s projects and programs.

The PMO becomes an important change management vector, across project teams and management. PMO goals include the promotion of project management skills and driving collaborative work techniques throughout the company, in both line and functional departments.

The PMO will be able to:

7 PMO tools that Project Portfolio Management software must provide

PMO tools must:

The PMO will need a wide range of features for 360° steering: online reporting, dashboards, capacity planning, budget management, and more. Can it be possible to centralise all these features within a single tool? For instance PPM tool not only provides a vision on schedules, but also on resources, budgets and risks. A transversal vision that gives a management viewpoint on the state of portfolios and contributes significantly to making the right decisions! As a result, you benefit from a single collaborative tool that consolidates data in real time, for high level visibility. Release the potential of your project team with a real PMO tool !

A Project Portfolio Management Software designed for PMO should include the following features :

  1. Project review dashboards
  2. Schedule management
  3. Resource management
  4. Risk management
  5. Demand management
  6. Budget management
  7. Collaboration and task sharing

In detail:

  1. Project Review dashboards
    Inform, alert, decide with relevant information (budget, progress, risks, etc.). A “project weather” indicator helps to alert and make the right decisions.
  2. Schedule management
    Visualise the schedules of your projects with Gantt diagrams and timelines. Keep deadlines under control. Which milestones are secured? Which step is late? Compare in a single click target and revised schedules.
  3. Resource management

As human resources are usually limited, the PMO must have real-time visibility on capacity planning across the whole project portfolio. The PMO is able to follow teamwork and optimises resource allocations.

  1. Risk management
    Identify, evaluate, and track risk mitigation actions. Risks are under control.
  2. Demand management

Identify, analyse and prioritize project requests. Give your teams a common methodology by creating a model library.

  1. Budget management

Make sure that the company has the budget to deliver new projects. The PMO is able to simulate multiple scenarios on budget options for each portfolio and compare them with ongoing project data to avoid unexpected overruns.

  1. Collaboration

Share information and roll out best practices. All project information is updated in real time. The PMO software can connect to other applications and strengthen collaboration across teams. It is possible to synchronise the software with other tools such as emails, Office suite or a range of financial tools.

Project Monitor, The Best Project Management PMO Tools

The Project Portfolio Management Software Project Monitor is an all-inclusive tool designed and built to support PMO work. In other words, Project monitor covers all the above points that define the optimal project management / pmo tools. PMOs need a project and portfolio software that can easily scale without sacrificing efficiency or control.

In addition to the features mentioned above, with Project Monitor you can:

And therefore make a significant contribution to aligning your project delivery with the strategy of your organisation.