Enterprise Project Management Software Buyers Guide
Last updated: June 07, 2023
In today's increasingly complex business landscape, effective project management is critical to the success of any enterprise.
The PMI's Pulse of the Profession 2021 report reveals that an average of 9.4 percent of investment is wasted due to poor project performance. This highlights the importance of implementing enterprise project management software, such as project portfolio management (PPM), to bridge the gap between project strategy and execution.
However, choosing the right software can be daunting, as many options exist. This buyer's guide simplifies the selection process by outlining key features and considerations to help you make an informed decision for your organization.
What is Enterprise Project Management Software?
Enterprise project management (EPM) software is designed to help businesses identify high-value projects, align teams against strategic goals, and prevent inefficiencies.
These tools provide a shared workspace where users can manage and group multiple projects companywide. It empowers teams to identify potential risks, analyze employee performance metrics, and make data-driven decisions to improve project quality and processes.
Enterprise project management solutions also offer a range of functionalities like project analytics, project portfolio management, risk management, resource management, and demand management. This allows businesses to optimize resources, accurately measure and control scope creep, and ensure consistent project delivery.
Overall, EPM software is essential for organizations looking to manage complex projects effectively and deliver successful outcomes aligned with their strategic goals.
Is Enterprise Project Management Software Different from Generic Project Management Software?
Enterprise project management solutions and generic project management software serve different purposes.
Generic project management tools are intended for individuals and small teams. Whereas enterprise project management systems are tailored to meet the complex needs of large organizations that manage multiple portfolios, projects, and programs simultaneously.
Project management enterprise software offers features that enable organizations to prioritize resources, allocate budgets, track progress, and manage risks across multiple projects. It also provides insights into how projects impact organizational goals and helps executives make informed decisions. In contrast, traditional project management is geared towards small teams and individuals who need a straightforward solution for managing projects.
In our Features section below, we will dive into the specific functionalities of EPM applications and how they can help a project manager align projects to their strategic goals.
Why Do Teams Need Enterprise Project Management Tools?
Enterprise project management software is crucial for organizations handling multiple projects, as it provides the necessary tools to manage complex workflows and ensures the efficient execution of tasks.
As your business grows and projects become more complex, it can be challenging to manage them effectively without the right tools.
Here are some compelling reasons why your team should consider using enterprise project management solutions:
1. Enhanced Collaboration
Enterprise project management software allows teams to collaborate in real-time, share resources, and communicate seamlessly across locations, departments, and time zones. This improves productivity, fosters teamwork, and ensures everyone is on the same page.
2. Centralized Data Management
The project management tools for enterprises are designed to provide a centralized location to store and access project data, including project plans, budgets, schedules, tasks, and reports. Project managers can easily track work progress, identify issues, and make informed decisions.
3. Customizable Workflows
With an enterprise project management platform, teams can customize workflows to fit their unique needs and requirements. This helps streamline project management processes and reduces the time spent on manual tasks.
4. Scalability
EPM software systems are designed to scale with businesses as they grow, eliminating the need for professionals to switch systems frequently. These tools ensure they support the users’ current and future business needs.
5. Better Planning
Enterprise project management solutions include various strategic planning tools that enable businesses to create accurate and realistic project plans. These include Gantt charts, Kanban boards, resource calendars, and project scheduling, which help companies to plan effectively and ensure that projects are completed on time and within budget.
6. Increased Transparency
Teams can use project management enterprise software to maintain transparency throughout the project lifecycle, giving stakeholders visibility into project progress, budget, and resource allocation. This helps establish accountability and ensures everyone is aligned toward achieving the strategic goals.
7. Better Project Outcomes
Enterprise project management application provides a comprehensive suite of tools and features for optimizing project outcomes. It comes equipped with features like project planning, task management, resource allocation, and team collaboration, all of which contribute to better project outcomes.
Common Features Needed in Enterprise Project Management System
Now that we've discussed the benefits of enterprise project management tools and how they can help your organization, it's time to dive deeper into the features that make these tools effective.
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Project Portfolio Management
Resource Management and Allocation
Data Security
Risk Management
Demand Management
Reporting and Analytics
Project Planning
Team Collaboration
API and Integrations
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How to Decide Which Enterprise Project Management Tool is Best for You?
We have devised five-point criteria to help you decide which software is best suited for you.
What you need to do:
- Put a tick against each of these basic enterprise management software design benchmarks.
- Shortlist your top five contenders; test them individually or collectively.
We have also compiled a list of the top-five enterprise project management tools a few sections down; they can serve as a good starting point for your analyses.
See the checklist below and remember that the software with the most checks wins (our recommendation is to go ahead to the next stage with the steps listed below).
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Enterprise Project Management Software Evaluation List
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Next, you need to narrow your choice to one enterprise management app. Visit its product profile page – use our search bar above – to book a demo or get pricing (accurate, updated, custom plan figures for your workplace) so you can get subscribed quickly.
Enterprise Project Management Software Pricing
The average pricing range for enterprise-level project management software can start from $20 per user/month and goes up to several hundred dollars, depending on the deployment method, features, customization options, and support.
Some enterprise-level plans can cost even more and require custom quotes. Evaluating different software options and pricing models is important to determine the best fit for your organization's needs and budget.
For more pricing information, download our comprehensive project management software pricing guide.
Best Enterprise Project Management Software
Selecting the best enterprise project management tool can be overwhelming, given the wide range of options. To help ease your search, we have researched and curated a list of the top 5 products that can improve your project management processes.
In this section, we will explore their features and pricing, making it easier for you to choose the perfect fit for your organization.
Monday Software
Monday software is an all-inclusive enterprise project management solution that offers advanced tools and features to help businesses align their projects with their business strategy.
Its highly customizable platform includes advanced reporting and analytics, extensive integrations, and enterprise-grade features like dedicated account managers and priority customer support.
Overall, this scalable solution is ideal for large enterprises looking to improve project quality and processes.
Pricing
Monday.com cost starts from $8 per seat/month, billed annually. The vendor’s enterprise plan requires a custom quote.
Key Features
- Enterprise-grade security features with customizable permissions to ensure only authorized users can access sensitive data.
- Integration with various third-party tools for automating tasks and syncing data between platforms.
- Dedicated support and training resources to help organizations optimize their experience on the platform.
- Highly customizable project views, task management tools, and automations to fit the unique needs of any organization.
- Advanced reporting and analytics capabilities for tracking performance metrics and providing insights into project management processes.
Pros and Cons
| Pros | Cons |
| Multiple project views (such as interactive Gantt charts and Kanban) | Steep learning curve for new users |
| Premium customer support | Limited customization for some features |
| Tailored onboarding |
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Wrike Software
Wrike is a robust enterprise project management tool designed to meet the complex needs of large organizations. With advanced features like time tracking, custom workflows, and comprehensive reporting, the software empowers enterprises to streamline project management, optimize team collaboration, and drive business results.
Wrike software also implements robust security measures, with advanced permissions and data encryption, making it a trusted choice for enterprises requiring the highest data protection level.
Pricing
Wrike software offers a free version of its project management solution and four paid plans. The vendor’s basic subscription plan starts at $9.80 per user/month, whereas the enterprise-level plans require users to get custom quotes.
Key Features
- Advanced resource management capabilities, including workload management and resource allocation, to help ensure that projects are completed on time and within budget.
- Robust security measures, including 2FA and SSO, to ensure that data is secure and compliant with industry regulations.
- Performance analytics and reporting tools, including real-time dashboards and custom reports, provide insights into project health and resource utilization.
- Custom user roles with specific permissions control what team members can do within a shared project.
Pros and Cons
| Pros | Cons |
| Comprehensive project management tools | Steep learning curve |
| Customizable project templates and dashboards | Higher cost compared to some alternatives |
| Advanced reporting capabilities |
Netsuite Openair
NetSuite OpenAir is an all-in-one professional services automation (PSA) solution designed to help enterprises effectively manage their tasks and projects. The cloud-based platform enables teams to plan, track, and prioritize tasks; allocate resources; monitor progress; and collaborate seamlessly, all within a centralized interface.
It also offers customizable task templates, workflow automation tools, interactive Gantt charts, and advanced reporting and analytics capabilities to give users full visibility into their workflows and timelines.
Pricing
NetSuite OpenAir’s pricing structure is designed to be flexible and scalable, with the basic package starting at $399 per month. However, the vendor does not offer a free version of its project management software solution.
Key Features
- Customizable reporting and dashboard features to optimize workflow efficiency.
- Visual presentation tools that offer real-time task tracking and monitoring for teams.
- Built-in templates designed to streamline work management processes and save valuable time.
- A mobile app enables milestone-based project division and calendar integration for flexible scheduling.
- Detailed timesheets allow accurate and efficient tracking of work hours and expenses.
Pros and Cons
| Pros | Cons |
| Strong project management and resource allocation capabilities | Expensive subscription plans |
| Customizable workflows to meet task management needs | Limited reporting capabilities compared to other tools |
| Integration with other NetSuite applications for streamlined operations |
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Jira Software
Jira is a powerful enterprise project management software with advanced capabilities for managing complex projects, workflows, and teams at scale. With its robust features, the application enables agile teams to effectively plan, track, and deliver projects while ensuring collaboration and communication across all stakeholders.
Jira software enterprise-level features include customizable workflows, portfolio management, centralized security controls, advanced roadmaps, and integration with other tools.
Pricing
Jira offers a free plan for up to 10 users. The vendor also provides a range of paid project management software plans, with the basic subscription plan starting at $7.75 per user/month.
Key Features
- Customizable workflows that match project needs for efficient management and process automation.
- Advanced user permissions to control data access based on roles, groups, and project affiliation.
- Scalable enough to support large teams and complex projects, making it suitable for enterprise-level operations.
- Detailed reports to monitor multiple projects simultaneously and identify improvement areas.
- A comprehensive suite of agile development tools, including Scrum, Kanban boards, and roadmaps, to manage tasks and adjust specific project requirements.
Pros and Cons
| Pros | Cons |
| Powerful project management features | Requires regular maintenance and updates |
| Scalable and customizable | Steep learning curve |
| Integration with third-party tools |
Bigtime Software
BigTime software is a comprehensive EPM solution designed to streamline project workflows and optimize productivity. The software offers a unified suite of enterprise solutions, such as resource allocation, project budgeting, and real-time tracking, to help organizations efficiently manage complex projects from start to finish.
Its robust reporting and analytics tools provide valuable insights into project performance and enable effective decision-making.
Overall, it is one of the best enterprise project management software that empowers users to increase efficiency, reduce costs, and complete projects on time.
Pricing
BigTime basic subscription plan starts at $10 per user/month, billed annually. Its enterprise plans require users to get custom quotes.
Key Features
- Robust project management capabilities with customizable project workflows, resource management, and budget tracking.
- Advanced expense and time tracking features, including automatic reminders and timesheet approvals.
- Comprehensive reporting and analytics tools, with various pre-built reports and customizable dashboards for tracking project performance, profitability, and resource utilization.
- Seamless integrations with popular business applications, including QuickBooks, Salesforce, and Jira, to streamline workflows and improve data accuracy.
Pros and Cons
| Pros | Cons |
| Real-time project management dashboards | Fewer integrations than other tools |
| Ability to allocate and track resources across multiple projects | Occasional glitches or technical issues with the software |
| Comprehensive security features to protect sensitive data |
Frequently Asked Questions
What is Microsoft enterprise project management EPM?
Microsoft Enterprise Project Management (EPM) is an enterprise-level project management solution. The program helps organizations plan, track, and manage projects, resources, budgets, and timelines while providing real-time visibility and insights into project progress and performance. It is designed for large and complex organizations with multiple projects and teams.
Are ERP and EPM the same?
ERP (enterprise resource planning) and EPM (enterprise project management) are different. ERP is a business management software that integrates functions such as finance, procurement, and inventory.
EPM is a project management solution that focuses on managing projects, resources, budgets, and timelines.
They serve different purposes and are designed to meet different organizational needs.
What is meant by an enterprise project?
An enterprise project is a large-scale project that a complex organization with multiple departments or divisions typically undertakes. It often involves high levels of risk and requires extensive planning and coordination to ensure successful completion.
What are the four components of enterprise project management?
The four components of enterprise project management include:
- Program and portfolio management: It involves identifying, selecting, and prioritizing projects based on the organization's strategic objectives and available resources.
- Project management: This includes the planning, execution, and monitoring of individual projects.
- Resource management: It is related to the allocation and optimization of resources, such as people, equipment, and materials, across multiple projects.
- Collaboration/Communication: This component facilitates communication and collaboration among project teams, stakeholders, and other relevant parties.
What are examples of enterprise projects?
Examples of enterprise projects include constructing a new facility, developing a new product line, expanding into new markets, and deploying a large-scale infrastructure project such as a transportation network or utility grid.
These projects are typically complex, involve significant resources, and require extensive planning and coordination to ensure successful completion.
In Conclusion
Enterprise project management software is a critical investment for any organization that wants to achieve its goals and objectives efficiently. Selecting the right project management software is not easy and requires careful consideration of features and factors that align with your team's goals. This buyer's guide provides valuable insights to help you confidently choose an EPM tool that delivers measurable results, streamlines processes, and drives better outcomes for your business.
To learn more about enterprise project management tools for your business, schedule a consultation with one of our experts and get personalized recommendations based on your unique needs.
