target audience: TECH BUYER Publication date: Dec 2023 - Document type: IDC MarketScape - Doc Document number: # US49434823
IDC MarketScape: Worldwide Cloud Project and Portfolio Management 2023–2024 Vendor Assessment — Enabling Adaptive Adoption
This IDC study uses the IDC MarketScape vendor assessment model to evaluate the cloud project and portfolio management (PPM) vendor landscape. This research enables analysis of quantitative and qualitative characteristics to provide metrics and context for users evaluating solutions in this area, help analyze a vendor’s current comparative success in the marketplace, and anticipate vendor evolution. Main user focus areas for this market include a cloud PPM assessment (with functionality in the cloud, multitenant architecture, usability, percentage of revenue in the cloud, PPM services support, hybrid private/public/hosted/on premises, and support for multimodal deployment). Also included are in-depth vendor profiles for the 17 vendors assessed.
“IDC has seen a maturing adoption of cloud PPM resulting from a prior, dramatic increase in adoption of cloud PPM and PPM SaaS approaches to take advantage of benefits such as quick access to PPM automation to better manage a fast PPM on-ramp, complex sourcing, and dynamically changing initiatives,” said Melinda Ballou, research director, IDC’s Agile Application Life-Cycle Management, Quality and Portfolio Strategies service. “Cloud PPM can help enable agile approaches to PPM, cutting costs and delays associated with on-premises deployment to enable project and program execution and business responsiveness. We see synergies and benefits also with a massive increase in the use of AI and GenAI to leverage data and other efficiencies and infrastructure optimization. With the inclusion of collaborative work management (CWM) providers along with intuitive cloud providers, strategic portfolio management (SPM) and value stream management (VSM), IDC expanded the range of analysis for cloud PPM for ‘modernizing’ work, project, and resource management. It is in part due to these trends that IDC has chosen to prioritize this area as one of four areas of focus for our IDC MarketScape series for PPM, SPM, VSM, and CWM. Leverage of the cloud to facilitate the handoff from project inception to execution for businesses (as well as DevOps for IT software project portfolios) is another role played by this technology.”