What is Enterprise Project Management?

Enterprise project management (EPM) involves managing different projects simultaneously – on a companywide scale. Large businesses normally run multiple (and complex) projects at the same time. While these projects may not necessarily be related, they still all have an effect on the company's profit and performance.

But what are the main elements of EPM? And which companies actually need it? We'll explain everything you need to know in this article. We'll also offer advice on which types of software you can use to help with your EPM.

Specifically, we recommend monday.com. This platform combines an intuitive interface with powerful features, making it much easier for you to juggle (and successfully deliver) your large-scale projects.

What is Enterprise Project Management?

Enterprise project management (EPM) is a useful method for large businesses managing multiple projects. Unlike traditional project management, EPM isn't necessarily concerned about completing each project – it focuses on achieving the organization's top-level, long-term goals. EPM generally involves implementing strategies designed to streamline your project management efforts on a large scale.

According to the Project Management Institute (PMI), EPM initiatives can include:

  • Using a project management software, such as monday.com, to give you more control and visibility over your project.
  • Creating a project management department.
  • Following ‘stages of growth‘ models.

The actual process of EPM includes seven elements:

  1. Risk analysis
  2. Structured estimating
  3. Reviewing projects
  4. Project management coaching
  5. Escalated issue management
  6. Time accounting
  7. Information system management

The elements of EPM are similar to that of regular project management processes, especially risk analysis and time accounting. However, the main difference is scale. EPM is carried out on a far larger scale than regular project management, normally requiring a dedicated project management department with strong leadership. On the other hand, startups and SMEs might usually focus on one, relatively small project at a time.

What are the Goals of Enterprise Project Management?

Unlike traditional project management – which aims to complete projects with measurable objectives – EPM doesn't focus on one particular project. Instead, EPM's primary concern is managing all of an organization's projects together, ensuring that each project aligns with the company's top-level goals.

Essentially, EPM's end goal isn't necessarily a completed project, but rather a project that brings long-term benefits. This approach allows big companies to maximize resources.

The PMI says there are many other benefits to EPM, including:

  • Boosted productivity
  • Reduced impact of skills shortage
  • Higher-quality output
  • Reduced risks
  • More reliable delivery

Without EPM, delivering multiple projects within a large company can feel like a juggling act. However, with regular reporting from project managers on things like issues, risks, and overall progress, EPM managers can make responsive decisions that benefit the company’s top-level goals.

For example, EPM enables project managers to identify underfunded projects, or projects that are duplicating efforts. In short, it allows you to cut wasted resources.

In fact, research by Villanova University shows that organizations that employ an EMP system can potentially increase profits by 20%.

What Kind of Company Needs Enterprise Project Management?

Any business – particularly in the software industry – dealing with multiple projects would benefit from EPM. Sure, large businesses are more likely to run different projects at once, but companies of all sizes may want to consider the EPM system if they want to hit overarching targets.

Unlike traditional project management, EPM's primary purpose is to help your business achieve its top-level goals. Rather than focusing on completing individual projects, EPM aims to maximise multiple projects at once in order to bring long-term benefits.

As we said, EPM would benefit nearly every business, particularly large software companies that run multiple product tests and projects. Things can get even easier, though.

Project management software enhances the overall benefit of EPM. If you or your project manager is struggling to stay on top of things, project management software can help you streamline workflows and boost productivity, helping you track time, budget, who's in charge, and where projects are going. They take away all the guesswork, giving you full visibility of your multiple projects.

Worried about costs? Well, if you're on a tight budget, you can try the best free project management software first.

What's The Best Enterprise Project Management Software?

Project management software makes it easier for you to manage multiple projects, giving you full visibility over your projects. With these systems, you can automate workflows, build a working pipeline, conduct collaborative workshops, and more. Our researchers picked monday.com as the best project management system, which offers an intuitive interface and powerful tools. Learn more about the best systems with our table below.

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Price

$8 – tailored

Price

$5 – tailored

Price

$7 – tailored

Price

$0 – Tailored

Price

$9.80 – tailored

Price

$10 – $18

Price

$5.10 – $12.75

Price

$7.50 – $14.50

Price

$4 – $9

Price

$5 – $17.50

Price

$22.50 – $25 per user, per month

Key features
  • Gantt chart
  • Over 200 templates for projects and items
  • Sub-task milestones and dependencies

 

Key features
  • Preset charts
  • Custom project templates
  • Custom automations
  • Gantt chart
  • Milestones
  • 24/7 live support
Key features
  • Email customer support
  • Gantt chart
  • Kanban board
  • Custom project templates
  • Custom automations
  • Team instant-messenger
Key features
  • CRM integrations
  • Kanban board
  • Custom project templates
  • Project message board
  • Task comments
  • Calendar
Key features
  • Email customer support
  • Kanban board
  • Milestones
  • Project message board
  • Task comments
  • Sub-tasks
Key features
  • Great collaborative features on every plan
  • Solid customer support
  • Gantt chart
  • Kanban board
  • Milestones

 

Key features
  • Very accessible price point
  • Comprehensive task management features
  • Solid customer service
  • Preset and custom project templates
  • Custom automations
Key features
  • Time tracking and turndown charts
  • Best support for Agile project management
  • Custom and preset templates and automations
  • Gantt chart
  • Kanban board
Key features
  • CRM integrations
  • Email customer support
  • Gantt chart
  • Kanban board
  • Issue log
  • Preset widgets
Key features
  • Robust automation builder
  • Nice, customizable interface
  • Easy-to-tweak systems
  • Kanban board and custom fields
  • Preset and custom project templates
Key features
  • Gantt chart, subtasks, milestones, and dependencies
  • Integrations with a lot of popular software
  • Preset and custom project templates
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Verdict

EPM is the process of managing multiple projects at the same time, across the entire company. Unlike traditional project management, the aim of EPM is to achieve the top-level goals of your organization – it isn’t necessarily focused on completing individual projects. Instead of incremental objectives, EPM looks at long-term success.

Ideal for large companies, EPM can help you boost productivity, maximize resources, and reduce risks. Better yet, you can use project management software, such as monday.com, to help you track everything from time and resources to budget and task ownership. To compare different providers, check out our project management software comparison page.

Dan’s a Senior Writer at Expert Market, specialising in digital marketing, web design, and photocopiers, amongst other topics.