Multi-Project Management

Multi-Project Management Software

Multi-project management is the overarching planning, coordination and control of several individual projects. The definition according to DIN 69909 thus suggests a comparison with a management system. Multi-project management therefore includes cross-project management tasks such as quality management as well as the resolution of resource conflicts, the coordination of dependencies between the individual projects and the possible identification of synergy effects.

In this SoftGuide section you will find an overview of software and solutions for multi-project management. The multi-project management software listed in this section supports the project manager in planning, controlling and monitoring multiple interrelated projects ("project portfolios"). Many of the multi-project management solutions listed here also include project portfolio management. The software supports project communication, project representation (WBS/Gantt) and helps with project budget management, forecast management and resource management.

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What is multi-project management?

Multi-project management (also known as project portfolio management) involves the coordinated management and control of several projects within an organization, company or unit. Multi-project management is also used to make decisions about whether a new or additional project fits into the current or future portfolio. It is a method of ensuring that all projects are carried out effectively and efficiently and provides a holistic view of an organization's project landscape. Multi-project management can be divided into program management and project portfolio management. Program management involves several projects in programs that have a common goal. Projects in portfolios are usually separate from each other and often compete for resources.

The project portfolio

A project portfolio is a collection of projects, programs and/or initiatives carried out by an organization or company. These projects can vary in terms of their objectives, resources, priorities and strategic direction. The aim of a project portfolio is to ensure that an organization's resources are used effectively and efficiently to achieve its strategic goals.

Managing a project portfolio requires careful selection, monitoring and control of projects and programs to ensure that they deliver the intended benefits and that resources are allocated appropriately. Portfolio management practices help to minimize risks, take advantage of opportunities and ensure that the organization achieves its strategic goals.

Elements of a project portfolio

Projects
Individual initiatives aimed at achieving specific goals. These projects can be in various stages of implementation and usually have defined start and end dates.
Programs
Programs are groups of related projects that are coordinated together to achieve overarching goals. Programs can have a strategic dimension and combine several projects under one roof.
Resources
The resources in a project portfolio include personnel, budgets, equipment and other resources required for the implementation of projects. The efficient allocation of resources is an important aspect of managing a portfolio.
Priorities
The projects in the portfolio are normally prioritized according to their strategic importance and their contribution to the company's objectives. Priorities may change over time, depending on changing business requirements.
Strategic orientation
A project portfolio should be in line with the long-term strategic goals and vision of the organization. This ensures that the projects contribute to achieving the overall mission and vision.

Difference between multi-project management and project management

The main difference between multi-project management and project management lies in their scope of application and in the priorities set in each case.

Project management

Project management focuses on the planning, implementation and monitoring of a single project. By definition, a project is a time-limited undertaking that has a starting point and a specific end point. In project management, a dedicated project team works on the realization of the project goals. The resources, including employees, budget and time, are usually focused on this specific project. Success in project management is measured by whether the defined project goal has been achieved.

Multi-project management deals with the coordinated management and control of several projects and considers the totality of all projects that are carried out in parallel or in succession. Multi-project management offers a holistic view of an organization's project landscape. It prioritizes, monitors and controls projects in accordance with the organizational goals. Among other things, multi-project management should ensure that resources are optimally distributed across all projects and that potential risks to projects are taken into account so that any risks that arise can be responded to.

Advantages of multi-project management

Better decision-making
A holistic view of all projects enables executives and managers to set priorities and allocate resources in line with the organization's strategic goals. Decision-making becomes more rational and is based on comprehensive information.
Increased efficiency
Multi-project management allows resources such as manpower, time and budget to be used more efficiently. It helps to avoid overlaps and duplication of work between projects and at the same time ensures that the available resources are optimally allocated to the various projects.
Risk reduction
Multi-project management identifies risks that could have an impact on several projects. It enables teams to take proactive measures to mitigate or manage these risks. This can lead to an overall lower project risk burden.
Synergy effects
When projects are coordinated with each other, synergy effects can occur. This means that resources, ideas and solutions can be exchanged between projects, which can lead to more innovative approaches and better results.
Optimized resource allocation and management
By having an overview of all ongoing projects, project managers and teams can strategically allocate resources. This enables prioritization and ensures that the most important projects receive the resources they need.
Improved budget control
Budget management becomes more efficient as budgets can be managed across multiple projects. This enables better control over expenditure and adherence to budget targets.

Possible applications of multi-project management

Large organizations use multi-project management to coordinate a large number of projects in different departments or business units. In the construction industry, multi-project management methods can be used to efficiently plan and execute construction projects. IT departments use multi-project management to work simultaneously on multiple IT projects such as software development, IT systems implementation and network enhancements. In research and development departments, multi-project management techniques can help to coordinate innovation projects and product developments. Consulting companies use multi-project management to manage different client projects simultaneously and ensure that resources are used optimally.

Typical functions

Tips and question suggestions

Further specific criteria and question suggestions for the evaluation of software for multi-project management

Check whether the software can be integrated with other tools and systems in your organization, e.g. calendar, email or CRM.
Is there a mobile app or support for mobile devices? This is important when team members need to access project information on the go.
Clarify how the security of the data is guaranteed. Ask about the software's security functions and data protection measures, especially if sensitive data is being processed.
Can the multi-project management software manage different projects simultaneously? Does it support the creation and tracking of a project portfolio?
Can the software effectively manage different types of projects (e.g. IT projects, marketing projects)?
Does the software offer functions for prioritizing projects?
How can multi-project management software help to avoid costly misinvestments in projects and maximize the efficiency of limited company resources?
Can you use the multi-project management software to identify and resolve resource bottlenecks? Ask what resource planning and allocation tools the software includes.
Does the software enable budget planning and tracking? Are there functions for cost analysis and control?
What reporting and analysis functions does the multi-project management software offer? How can performance indicators and progress reports be generated to effectively monitor the project status?
How flexible is the user interface? Can the software be adapted to individual requirements in order to map our specific work processes?
Does the software support an agile project management methodology, such as Scrum or Kanban? Can we integrate our preferred project management approaches?
How is training and support provided for your multi-project management tool? Are there training materials or live support to ensure our team can use the software effectively?
Are there automatic notifications and reminders in the software to inform team members about tasks and deadlines?
What opportunities for collaboration and communication does the software offer? Can it promote team collaboration and facilitate the exchange of project information?
Can the multi-project management software be integrated with other common collaboration and communication tools, such as Microsoft Teams or Slack?
Does the software provide a risk assessment and management function to identify and minimize potential project hazards?

Business Solutions

Industry Specific Software

Standard Software, COTS