ABSTRACT
This chapter discusses the most important functions of software tools and shows how they can help in integrating project and Project portfolio management (PPM). PPM is not just only about handling project proposals, checking them for plausibility, strategy compliance and profitability, and ensuring a proper approval process. Specific software for PPM is far superior to the typical Excel lists that many organizations still use to plan and monitor their project portfolios. Portfolio planning includes all running projects and project programmes as well as all potential projects and project ideas. The overall objective is to maximize the strategic benefit of the portfolio by selecting those projects with the highest scores. A project proposal assessment aims to ascertain and define the strategic impact of a single project or programme by applying a scoring model. Organizational budgeting is an indispensable precondition for portfolio planning because it determines the amount of budget available to execute projects.
