Strategic portfolio management (SPM) software helps companies define, implement, monitor, and optimize strategies to manage project portfolios successfully.
This software is used mainly by mid-market and enterprise companies from project-based industries such as IT, professional services, utilities, or architecture, engineering, and construction (AEC). While project management officers and corporate strategy teams benefit most from using SPM software, finance teams and executives also use it.
While this software usually provides features for strategy and portfolio management, it may require integration with strategic planning and execution software as well as project and portfolio management software for advanced functionality.
To qualify for inclusion in the Strategic Portfolio Management category, a product must:
Help companies define strategic plans and business objectives for portfolios
Allocate resources to portfolios and prioritize their use to achieve strategic objectives
Monitor the progress of strategic portfolios from planning to execution
Provide forecasting and simulation features to estimate financial and operational success
Mitigate portfolio risks through change management and agile transformation
Deliver analytics of portfolio performance and identity opportunities for improvement
Use machine learning (ML) and generative AI (GAI) to provide intelligent chatbots and automation
