In increasingly competitive markets, ensuring the successful delivery of projects is crucial for any business or organization. But, with so many project management tools available out there, selecting the right one for your company can be a challenge. The most popular options include Collaborative Work Management (CWM) and Enterprise PPM (Project Portfolio Management) platforms.
Here’s a framework to help you evaluate both options and decide which one best meets your needs.
Enterprise PPM vs CWM tools: Overview and benefits of Collaborative Work Management solutions
According to Gartner, “The CWM market consists of vendors offering task-driven team hubs that empower business users to plan, carry out and manage their work.”
Collaborative Work Management tools are indeed designed to help teams collaborate seamlessly and manage workflows more effectively. They provide features such as document sharing, messaging interfaces, and shared workspaces. All of which empower project teams to share information and manage tasks in real time.
Best-in-class CWM systems are customizable and modular to accommodate different types of projects and processes across companies and departments. They adapt to the needs of various user groups.
Collaborative Work Management tools usually are more affordable and easier to use than other enterprise platforms. It makes them accessible to businesses of all shapes and sizes.
The many benefits of Enterprise PPM
The purpose of Enterprise PPM tools is to help organizations to manage collections of projects simultaneously. They consolidate all the data across different departments and initiatives into a centralized platform, with real-time updates. Thus, they help PMOs and project leaders manage project portfolios, resources, and budgets in a coordinated manner. They also come with analytics and reporting capabilities. It makes it possible to track progress over time and to inform key decisions.
A robust PPM system should come equipped with modules and capabilities for Resource Management, Risk Management, Financial Management, and more. Enterprise PPM also provides strategy alignment capabilities to help decision-makers ensure that their project-related choices are consistent with high-level strategic objectives.
Enterprise PPM vs collaborative work tools: Which way to go?
The choice between CWM and Enterprise PPM tools will depend on your organization’s specific requirements and needs. For example, a young start-up company with small teams and running a limited number of projects may prefer the CWM route. Indeed, collaborative work tools typically come cheaper and tend to offer faster user adoption. CWM platforms are also worth considering for organizations that prioritize team collaboration and instant communication.
On the other hand, Enterprise PPM is a go-to for larger firms that manage multiple initiatives and require more advanced features. Companies with a formal PMO function are more likely to adopt an Enterprise PPM platform. Enterprise PPM also has the advantage of supporting businesses along their growth path as they evolve.
Because Enterprise PPM solutions are designed to facilitate and accelerate the work of PMOs, some of them also provide the kind of productivity and automation tools that CWM platforms offer.