Project Portfolio Management Software

What is PPM Software?

If project management’s goal can be simplified to doing projects right, then project portfolio management’s goal can be summed up as doing the right projects. Effective and efficient project organizations direct their attention and resources to the best projects, while rejecting projects that do not align as well with their strategic objectives.

PRISM Portfolio is an enterprise project portfolio management (PPM) solution. Project portfolio management is the organized management of projects’ processes, methodologies, and technologies to analyze current or proposed projects for success based upon key indicators like cost, scope, schedule, risk, performance data, and strategic business objectives.

ARES PRISM
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Compare ′What-If′ Scenarios

Link Projects to Opportunities

Identify Scheduling Milestones

   User-Defined Stage & Gate Processes

Risk Assessments & Risk Ratings

Successful portfolio management leads to better decision-making, helps mitigate risks, and streamlines processes, thereby creating faster project turnaround and yielding better investments.

The 5 Steps of Portfolio Management

PRISM Portfolio Satisfies the 5 Steps of Portfolio Management, referenced by PMI. Organizations are able to track projects through their entire lifecycle; from ideation to close-out within ARES PRISM. Within PRISM Portfolio, organizations can set project stages like front-end loading, conceptual engineering, feasibility study, detail design, etc. They can also set project gates where approval and rejection decisions are made.

ARES PRISM
  1. Clarify business objectives
  2. Capture and research requests and ideas
  3. Select the best projects using defined differentiators that align, maximize, and balance
  4. Validate portfolio feasibility and initiate projects
  5. Manage and monitor the portfolio

PRISM Portfolio Main Components

Development
Opportunity

Source of multiple potential projects

Opportunity
Project

Scope of work within
a single development opportunity that can belong to multiple
capital plans

Capital
Plan

Collection of
opportunity projects
that fall under a
single development
opportunity

Schedule
Milestones

Define milestones associated with potential or approved projects

Gates
Approvers

List of approvers for
each capital plan
with an
“approved budget limit”

Stage
Events

Identify key tasks as
gate events for gate
approval workflows

Action
Items

Automatically
generated by
workflows and
keeps history of all
workflows tasks

Documents

Documents linked to
project opportunities
can be reviewed
and approved during
stage/gate process

Risks

List of risks, probability likelihood, impact rating, risk rating,
mitigation costs

Rating
Score

Total score based on user-defined criteria and weighting

Project Portfolio Management at Its Best

  • Track projects from idea to closeout
  • Conduct ‘what if’ scenarios for planning purposes
  • Ensure alignment with strategic business goals

Deliver Projects On-Time
& Within Budget

Ready To Make Improvements to your Project Controls Strategy? ARES PRISM can help!