Project Portfolio Management Market Grows at a CAGR of 6.7% | Key player Oracle, Planview, Broadcom, SAP, Microsoft

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“Oracle (US), Planview (US), Broadcom (US), SAP (Germany), Microsoft (US), Workfront (US), Hexagon (Sweden), ServiceNow (US) United States), Upland Software (United States), Micro Focus (United Kingdom), Planisware (France), Sciforma (United States), Sopheon (United States), Cerri (Switzerland), Keyedin Projects (United States) , One2Team (USA), One point Projects (Austria), Miesterplan (Germany), Intelit Smart Group (Brazil).”

Project Portfolio Management Market with Impact of COVID-19 by Component, Deployment Mode, Organization Size (SME & Large Enterprise), Vertical (Energy & Utilities, Government & Defense, and IT & Telecom) and region – Global forecast to 2027

The project portfolio management market size is expected to grow from USD 4.7 billion in 2022 to USD 6.5 billion by 2027, at a compound annual growth rate (CAGR) of 6.7% during the forecast period.

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Project Portfolio Management is a senior management discipline that drives strategic execution and maximizes business value creation by selecting, optimizing, and overseeing project investments that are aligned with business objectives and strategies. It is the centralized management of one or more portfolios that enables senior management to achieve organizational goals and objectives through effective portfolio, project, program, and operations decision-making. Portfolio management is the strategic and prioritized set of all of an organization’s projects and programs that are balanced against the resources available to carry them out.

Solutions segment is estimated to have the largest market size during the forecast period

The fundamentals of managing a project from start to finish requiring a team of individuals with different talents and skills. For organizations with many concurrent projects, PPM software is used to ensure that all projects have the right manpower to complete on time, while staying on budget. With capabilities such as resource management; schedule management; demand management; project planning and management; project collaboration; Portfolio Management; Financial direction; and demand management, the PPM solution helps organizations meet their business optimization needs. PPM can be used to bring about changes in an organization and create a flexible structure within the organization in terms of project execution. In this way, the change will not be a threat to the organization. PPM vendors actively invest in advanced technologies to enhance their solution capabilities and meet the needs of their customers across different verticals.

PPM refers to a process used by project managers and project management organizations (PMOs) to analyze the potential return on completing a project. By organizing and consolidating every piece of data regarding proposed and ongoing projects, Project Portfolio Managers provide forecasts and business analysis to companies looking to invest in new projects. PPM helps organizations work on the right projects, which means that each project contributes to the overall goals of the organization. Ensuring an organization is working on the right projects means aligning projects with specific goals, optimizing resources effectively, and prioritizing projects objectively. In PPM, a portfolio is a collection of projects grouped together to achieve specific business goals. An organization can use one portfolio for all of its projects or use multiple portfolios to group projects together in a way that works best for them. PPM is the centralized project management of an organization. While these projects may or may not be related to each other, they are managed under one roof, called a portfolio, to oversee and manage all competing resources. Portfolio management in project management also involves the process of receiving projects. This includes identifying potential projects, authorizing them, assigning them project managers and including them in the overall portfolio. It also includes high-level controls and oversight to ensure ongoing projects are directly linked to overall business goals and strategies.

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Some of the major vendors in the Project Portfolio Management market are Oracle (US), Planview (US), Broadcom (US), SAP (Germany), Microsoft (US), Workfront (US United States), Hexagon (Sweden), ServiceNow (United States), Upland Software (United States), Micro Focus (United Kingdom), Planisware (France), Sciforma (United States), Sopheon (United States) , Cerri (Switzerland), Keyedin Projects (USA), One2Team (USA), One point Projects (Austria), Miesterplan (Germany), Intelit Smart Group (Brazil), Bestoutcome (UK), Project Objects ( Ireland), Workotter (US), Smartsheet (US), Celoxis (India), Wrike (US), Asana (US), Monday. com (Israel) and Cherwell (USA).

Oracle is a global provider of enterprise software and hardware systems. It develops database platforms, middleware software, application software, cloud infrastructure systems, computer servers, storage and networking products. It has a well-articulated PPM-related strategy as its approach to PPM is heavily grounded in its Oracle PPM Cloud and Primavera P6 Enterprise Project Portfolio Management (EPPM). Oracle has integrated Primavera P6 with Oracle E-Business Suite, PeopleSoft and JD Edwards solutions using Oracle Application Integration Architecture and Oracle Fusion Middleware. Oracle Primavera’s customers are distributed globally and spread across all segments of the value chain, from upstream to downstream and services. The Oracle PPM offering is supported by targeted marketing campaigns and a global sales and distribution structure and partner network. Additionally, to support businesses against the ramifications of COVID-19, Oracle has launched a full-time support program for its Primavera and PPM Cloud customers to manage their queries and provide knowledge on best practices during the scenario. COVID-19.

Planview is a major player providing WRM solutions. The company provides the industry’s most comprehensive solutions designed for lean and agile delivery, portfolio and resource management, collaborative work and project management, innovation management, strategic planning, portfolio management of products and the management of capabilities and technology. To strengthen its product portfolio and improve its position in the PPM market, Planview acquired several companies, including Projectplace, Troux Technologies, Innotas, LeanKit and Spigit. The company has partnered with various service providers around the world to provide its customers with consulting, implementation, integration and product development process expertise. Today, with more than 700 employees, Planview serves 5,000 customers worldwide in vertical industries, such as life sciences, BFSI, government, technology, retail, energy and utilities. utilities, manufacturing, healthcare, and higher education from offices in the Americas, Europe, and Asia-Pacific regions. To prevent the risk of COVID-19 infection among its employees and customers, Planview has issued several guidelines and continues to provide several online support services.

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