10 Best Project Forecasting Software Reviewed for 2024
Best Project Forecasting Software Shortlist
Here's my pick of the 10 best software from the 22 tools reviewed.
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Choosing the right project forecasting software can be a daunting task. You want to predict project outcomes more accurately and manage expectations effectively, but selecting the ideal tool is challenging. I've got you covered! As a software expert, I've leveraged my extensive experience with a variety of forecasting tools to simplify this decision for you. Project forecasting software helps organizations estimate future project performance based on existing data and trends. This software brings numerous benefits, including improved budgeting and scheduling accuracy, leading to better strategic decisions. It addresses common pain points such as uncertain project outcomes, budget overruns, and schedule delays. By reading this guide, you'll gain insights into selecting the best software to address these critical challenges.
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How To Choose Project Forecasting Software
As you work through your own unique software selection process, keep the following points in mind:
- Scalability: Project forecasting software must be able to grow with your business. Consider whether the software can handle increasing amounts of data and more complex project portfolios as your organization expands. For instance, a growing construction firm will need robust forecasting tools that can adapt to larger, more intricate projects over time.
- Integration Capabilities: Ensure the software integrates seamlessly with your existing systems, such as ERP, CRM, and other project management tools. This is crucial for maintaining data consistency and streamlining workflow processes. For example, a marketing agency might need software that integrates with their CRM to forecast project outcomes based on customer data trends.
- Customization Options: Look for software that can be customized to meet the specific needs of your industry and company. The ability to tailor features, such as reporting formats and dashboard views, can significantly enhance the usefulness of the software. Engineering firms, for example, often require custom features to handle unique project specifications and compliance requirements.
- Real-Time Data: The software should provide real-time insights to allow for timely decision-making. This is essential in industries where conditions change rapidly, such as technology and manufacturing, where delays can be costly and impact project success.
- User Experience: Consider the learning curve and usability of the software. It should be accessible to all users, from the project manager to the team members who input data. A user-friendly interface can increase adoption rates and ensure more accurate data entry, which is critical in fields like healthcare where data precision affects project outcomes and patient care.
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Hub Planner
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.2 -
ClickUp
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.7 -
Miro
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.8
Overviews Of the 10 Best Project Forecasting Software
Explore our in-depth analysis and comprehensive overviews of each project forecasting software. These reviews will guide you through the pros and cons, key features, and optimal use cases of each tool to help you make an informed decision.
Microsoft Project offers comprehensive tools for project scheduling, portfolio management, and resource management. It is best for users seeking familiar, robust project management tools integrated within the Microsoft ecosystem.
Why I Picked Microsoft Project:
I selected Microsoft Project for this list due to its widespread recognition and integration within the Microsoft ecosystem, making it a go-to choice for many organizations already using Microsoft products. Its familiarity and depth in project management functionalities make it ideal for users looking for a comprehensive, integrated solution.
Microsoft Project Standout features & integrations:
Features include detailed project scheduling features, resource allocation tools, and built-in templates that help streamline project setup and tracking. The software's deep integration with Microsoft 365 enhances collaboration and reporting capabilities, making it easy to manage projects within a familiar framework.
Integrations include Microsoft Teams, Microsoft Excel, Microsoft Power BI, SharePoint, OneDrive, Azure DevOps, Dynamics 365, Outlook, PowerApps, and Yammer.
Pros and cons
Pros:
- Familiar interface to many users
- Comprehensive project management features
- Deep integration with Microsoft 365
Cons:
- Annual commitment required
- Can be complex for small teams or simple projects
- Mainly suitable for users deep in the Microsoft ecosystem
Anaplan offers a cloud-based planning platform that connects data, people, and plans across any business. It excels in cross-functional decision making with its collaborative approach.
Why I Picked Anaplan:
I selected Anaplan for this list because of its strong capabilities in connecting various functions within an organization to streamline planning and decision-making processes. Its platform supports a collaborative approach, making it ideal for businesses that rely on synchronized decision making across multiple departments.
Anaplan Standout features & integrations:
Features include Hyperblock technology, which allows for real-time calculations and adjustments across large datasets, facilitating rapid scenario planning and forecasting. Its extensive integration capabilities ensure that it can connect seamlessly with existing business systems, enhancing data accuracy and decision quality.
Integrations include Salesforce, Google Sheets, Microsoft Excel, Oracle, SAP, Tableau, Power BI, Slack, Workday, and ServiceNow.
Pros and cons
Pros:
- Extensive integration options
- Robust scenario planning and forecasting capabilities
- Enables real-time cross-functional collaboration
Cons:
- Pricing details are not transparent
- May require substantial training
- Can be complex to implement
Jedox streamlines enterprise performance management with robust integrated planning and analytics tools. It excels in offering a unified solution for complex, multi-departmental planning needs.
Why I Picked Jedox:
I chose Jedox for this list because it provides a comprehensive suite of tools that facilitate integrated planning across various business functions, making it stand out from other project forecasting software. It's particularly effective for organizations that require a seamless flow of data across departments to inform strategic decisions and forecasting.
Jedox Standout features & integrations:
Features include strong capabilities in data integration, collaboration, and reporting. The platform supports scenario planning and what-if analyses, which are essential for dynamic and uncertain environments. Its robust integration with major IT systems simplifies the complexity of enterprise-wide planning processes.
Integrations include Microsoft Excel, Salesforce, SAP, Oracle, Qlik, Tableau, Power BI, Google Sheets, Microsoft Dynamics, and IBM Cognos.
Pros and cons
Pros:
- Strong collaborative planning tools
- Powerful what-if analysis features
- Extensive integration capabilities
Cons:
- Setup may require significant IT resources
- Pricing information not transparent
- High learning curve for new users
Workday Adaptive Planning provides cloud-based software for business planning, including sophisticated tools for budgeting, forecasting, and particularly, workforce planning. It excels in workforce planning through its ability to model and manage personnel expenses deeply integrated with operational plans.
Why I Picked Workday Adaptive Planning:
I chose Workday Adaptive Planning for this list because of its comprehensive workforce planning features that are deeply integrated with financial and business planning capabilities. Its strong focus on managing personnel resources and costs makes it the best option for companies that need detailed and dynamic workforce management.
Workday Adaptive Planning Standout features & integrations:
Features include robust modeling capabilities that allow organizations to forecast and plan for hiring needs, salary increases, and other workforce-related expenses. It integrates seamlessly with major HR and financial systems, providing a unified view of workforce analytics.
Integrations include Workday HCM, Microsoft Excel, Salesforce, SAP, Oracle, NetSuite, Slack, Google Cloud, Tableau, and Power BI.
Pros and cons
Pros:
- Comprehensive modeling tools for various scenarios
- Seamless integration with HR and financial systems
- Detailed workforce planning capabilities
Cons:
- Setup and customization can be resource-intensive
- Pricing can be on the higher side
- May require a steep learning curve
Cube Software simplifies financial planning, analysis, and reporting. Cube is distinguished for real-time financial modeling due to its robust integration with existing data sources and immediate update capabilities.
Why I Picked Cube Software:
I chose Cube Software for this list because it stands out in delivering real-time data capabilities, crucial for dynamic and fast-paced financial environments. Its strength in seamlessly integrating with multiple data systems makes it ideal for real-time financial modeling. This capability ensures financial teams can rely on the most current data for making strategic decisions.
Cube Software Standout features & integrations:
Features include user-friendly interface and powerful data consolidation features, which simplify complex financial processes. The platform's capability to integrate data in real-time allows for more accurate forecasting and budgeting. Notably, its direct integrations with commonly used financial systems enhance its utility.
Integrations include Salesforce, QuickBooks, Xero, NetSuite, Microsoft Excel, Google Sheets, Oracle, SAP, Slack, and Workday.
Pros and cons
Pros:
- Robust data consolidation tools
- User-friendly interface
- Real-time data integration
Cons:
- Limited customization options for smaller businesses
- May require initial setup assistance
- Pricing transparency is lacking
NetSuite ERP offers a comprehensive suite of enterprise management features designed for growing businesses. It is best for scalable cloud ERP due to its ability to adapt and scale with a company's growth.
Why I Picked NetSuite ERP:
I chose NetSuite ERP for its robust scalability and extensive suite of applications that support a range of business functions from finance to supply chain management. Its cloud-native foundation makes it uniquely capable of growing with businesses, ensuring they have the resources and tools necessary as they expand.
NetSuite ERP Standout features & integrations:
Features include real-time data access across all areas of business, which enhances decision-making and efficiency. Its features include financial management, CRM, and e-commerce capabilities, all integrated into one platform for seamless operation. This integration reduces IT complexity and promotes clearer insights across departments.
Integrations include Salesforce, Oracle, SAP, Microsoft Dynamics, Google Cloud, Amazon Web Services, Shopify, Magento, WooCommerce, and Slack.
Pros and cons
Pros:
- Real-time data access improves decision-making
- Comprehensive feature set covering multiple business functions
- Highly scalable across business sizes
Cons:
- Can be complex to fully integrate without proper IT support
- Requires a minimum of 10 users, limiting smaller operations
- Higher initial cost may be prohibitive for smaller businesses
4castplus provides specialized project cost management software tailored for the construction industry. It excels in construction budget tracking with its detailed cost control and real-time budget analytics.
Why I Picked 4castplus:
I chose 4castplus for its comprehensive focus on construction budget tracking, which stands out in a market often dominated by more generic financial tools. Its specialized features meet the specific demands of construction project management, making it best for firms that need precise and proactive budget oversight.
4castplus Standout features & integrations:
Features include real-time budget tracking, cash flow management, change order management, and cost-to-completion forecasting, crucial for maintaining budget integrity in construction projects.
Integrations include Microsoft Project, Primavera P6, SAP, Oracle JD Edwards, QuickBooks, Xero, Microsoft Dynamics, Salesforce, SharePoint, and AutoCAD.
Pros and cons
Pros:
- Comprehensive change order management
- Real-time budget and cost tracking
- Specialized for construction industry needs
Cons:
- Requires integration setup for full functionality
- Pricing transparency could be improved
- Steep learning curve for new users
SAP Cloud Analytics provides comprehensive data solutions, enabling deep insights and decision-making support across large enterprises. It excels in managing complex data environments and delivering sophisticated analytical capabilities.
Why I Picked SAP Cloud Analytics:
I selected SAP Cloud Analytics for its robust data processing and analytics capabilities, which are ideal for large enterprises with complex data needs. It stands out due to its powerful integration with SAP’s ecosystem and its ability to handle massive datasets, making it the best choice for organizations requiring advanced analytics.
SAP Cloud Analytics Standout features & integrations:
Features include advanced data visualization, real-time analytics, and machine learning capabilities, which empower businesses to transform raw data into actionable insights. It integrates deeply within the SAP ecosystem, enhancing its utility by leveraging existing business systems for seamless data flow and analysis.
Integrations include SAP ERP, SAP S/4HANA, SAP BW, SAP HANA, Microsoft Office, Salesforce, Google BigQuery, Oracle Database, IBM DB2, and Amazon Redshift.
Pros and cons
Pros:
- Suitable for handling complex, large-scale data sets
- Robust integration with SAP products
- Comprehensive advanced analytics capabilities
Cons:
- Requires familiarity with SAP products for best use
- Higher cost likely reflective of advanced features
- Can be complex to implement
IBM Planning Analytics automates planning, budgeting, forecasting, and analysis processes, enhancing the precision of financial insights. It is best for complex scenario modeling due to its powerful analytics and simulation capabilities.
Why I Picked IBM Planning Analytics:
I selected IBM Planning Analytics for its advanced analytical tools and flexibility in handling complex financial and operational data. Its ability to perform multi-dimensional scenario analysis makes it ideal for organizations that face complex planning challenges and require detailed forecasting and modeling.
IBM Planning Analytics Standout features & integrations:
Features include a powerful in-memory database that allows for instant scenario analysis and what-if modeling, helping organizations plan for various outcomes. It also offers a user-friendly workspace that supports drag-and-drop functionality for easy modeling. Integration with various data sources is streamlined, enabling effective data consolidation and management.
Integrations include IBM Cognos, Microsoft Excel, Salesforce, SAP, Oracle, Microsoft SQL Server, Google Cloud, Amazon Redshift, Tableau, and Power BI.
Pros and cons
Pros:
- User-friendly interface for complex analytics
- Real-time data processing with in-memory technology
- In-depth scenario modeling capabilities
Cons:
- Complexity of features requires a learning curve
- Minimum seat requirement may exclude smaller teams
- Higher cost compared to some competitors
Planview offers comprehensive solutions for managing enterprise-wide portfolios, resource allocation, and work collaboration. It is best for enterprise portfolio management due to its scalable architecture and extensive feature set designed for large-scale operations.
Why I Picked Planview:
I chose Planview for this list because of its exceptional ability to manage complex, multi-dimensional portfolios across large enterprises. Its robust features support extensive planning, resource management, and execution capabilities, making it the best tool for enterprises seeking holistic portfolio oversight.
Planview Standout features & integrations:
Features include advanced portfolio and resource management features, which include strategic planning, investment prioritization, capacity planning, and project budgets tracking. The tool's integration with enterprise systems facilitates a cohesive management approach across various departments and projects.
Integrations include JIRA, Microsoft Azure DevOps, SAP, Salesforce, ServiceNow, Microsoft Teams, Slack, Microsoft Project, SharePoint, and Oracle ERP.
Pros and cons
Pros:
- Supports strategic planning and prioritization
- Scalable for large enterprises
- Extensive portfolio management features
Cons:
- May require significant time to implement effectively
- Pricing and configuration can be costly
- Complex interface can be challenging to navigate
Project Forecasting Software Summary
| Tools | Price | |
|---|---|---|
| Microsoft Project | From $10/user/month (billed annually) | Website |
| Anaplan | Pricing upon request. | Website |
| Jedox | Pricing upon request | Website |
| Workday Adaptive Planning | Pricing upon request | Website |
| Cube Software | From $1,500/user/month (billed annually) | Website |
| NetSuite ERP | From $99/user/month, (min 10 seats, billed annually). | Website |
| 4castplus | From $7/user/month (billed annually) | Website |
| SAP Cloud Analytics | Pricing upon request. | Website |
| IBM Planning Analytics | From $45/user/month (min 5 seats, billed annually) | Website |
| Planview | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareOther Project Forecasting Software To Consider
Below is a list of additional project forecasting software that we shortlisted, but did not make it to the top list. Definitely worth checking them out.
Selection Criteria For Project Forecasting Software
When selecting all-in-one project forecasting software, I focus on features that directly address the functionality and specific use cases critical to effective project management. This type of software typically offers tools for planning, monitoring, and adjusting projects based on various data inputs and forecasts. I've personally tried and researched these tools to ensure they meet the high standards expected by software buyers.
Core Project Forecasting Software Functionality: 25% of total weighting score
- Budget control and forecast accuracy
- Efficient resource management
- Risk identification and mitigation
- Real-time data updating and reporting
- Seamless integration with other business systems
Additional Standout Features: 25% of total weighting score
- I look for innovative features such as AI-driven analytics, machine learning for predictive modeling, and unique collaborative tools that enhance team interaction.
- Additional helpful features like time tracking, timesheet integration, Gantt charts, and team collaboration are a bonus
Usability: 10% of total weighting score
- Clear, intuitive user interfaces that simplify complex data analysis and make it accessible even to non-experts.
- Responsiveness and mobile support to ensure team members can manage and view project statuses from anywhere.
Onboarding: 10% of total weighting score
- I evaluate how quickly a new user can get up to speed with minimal assistance. This includes the availability of comprehensive onboarding resources such as training videos, step-by-step guides, and dedicated customer onboarding support.
- Tools like ClickUp and Smartsheet, which offer extensive template libraries and interactive product tours, score highly here.
Customer Support: 10% of total weighting score
- This criterion assesses the availability, responsiveness, and helpfulness of the support team. I look for services offering multiple support channels, such as live chat, email, and phone.
- It's important that the team is knowledgeable and capable of resolving issues promptly to minimize downtime.
Value For Money: 10% of total weighting score
- Evaluation includes comparing subscription models, scalability options, and the overall cost-effectiveness of each solution.
- I consider whether the pricing structure aligns with the features offered and if there are hidden costs such as setup fees or required add-ons.
Customer Reviews: 10% of total weighting score
- I assess overall customer satisfaction by analyzing feedback on usability, performance, and support.
- High ratings in user satisfaction and low frequency of reported issues contribute positively to a tool’s evaluation.
Through this meticulous process, I aim to provide software buyers with clear, actionable insights that help them select the best project forecasting software to meet their specific business needs.
Trends In Project Forecasting Software for 2024
The landscape of project forecasting software in 2024 continues to evolve rapidly, driven by the increasing complexity of projects and the need for more dynamic and precise planning tools. Advances in technology and changing professional needs have led to significant trends in the functionality and features of these systems. Here’s a breakdown of the key trends:
AI and Machine Learning Integration
- Trend: Enhanced predictive analytics capabilities using AI and machine learning algorithms are becoming more prevalent, offering more accurate forecasts and risk assessments.
- Functionality Improved: These technologies allow the software to learn from past project data, leading to better resource allocation and timeline predictions. Tools like IBM Planning Analytics are leading the charge by integrating advanced scenario modeling capabilities.
Focus on Sustainability
- Trend: New features that help companies track and manage the environmental impact of their projects are emerging as sustainability becomes a priority.
- Functionality Improved: This novel functionality is helping firms not only to meet regulatory requirements but also to achieve corporate sustainability goals by planning projects that are both efficient and environmentally friendly.
Decreasing Importance of Manual Data Entry Features
- Trend: The need for manual data entry is diminishing as automation and data integration capabilities become more advanced.
- Functionality Improved: This shift allows project managers to focus more on strategic decision-making rather than on inputting data, which is becoming automated through integrations and AI.
These trends reflect the ongoing transformation in project forecasting software, driven by technological advancements and shifting user expectations. Each trend addresses specific challenges faced by project management professionals, enhancing their ability to plan, execute, and monitor projects effectively in a continually changing environment.
What Is Project Forecasting Software
Project forecasting software is a tool designed to predict the future outcomes and performance of projects based on historical data and ongoing project metrics. This type of software is primarily used by project managers, financial analysts, and business leaders to estimate project costs, timelines, and resource needs accurately. The goal of project forecasting software is to enable informed decision-making, helping organizations to anticipate potential setbacks and align their strategies for successful project completion.
The core components of project forecasting software include data analysis tools, predictive modeling, scenario simulation, and visualization features. These elements work together to provide users with a detailed view of project trajectories under various conditions.
Features Of Project Forecasting Software
Choosing the right project forecasting software is crucial for effectively managing projects, ensuring they are delivered on time, within budget, and in line with specified quality standards. The functionality of this software can significantly impact a project manager's ability to forecast and plan accurately. Here are the most important features to look for:
- Data Integration: Seamless data consolidation from various sources. This feature is critical for providing a holistic view of the project landscape, ensuring all data influencing project outcomes is accounted for and accessible.
- Predictive Analytics: Advanced algorithms to forecast project outcomes. This feature uses historical data to predict future project statuses, helping managers to anticipate problems and make informed decisions.
- Risk Analysis: Tools to identify and evaluate project risks. Understanding potential risks enables proactive management and implementation of mitigation strategies, crucial for project success.
- Resource Allocation: Efficient management of personnel and resources. Proper allocation ensures that resources are used efficiently, reducing costs and avoiding delays.
- Scenario Planning: Capability to simulate different project scenarios. This allows project managers to test various approaches and choose the optimal path forward.
- Cost Forecasting: Detailed financial projections for projects. Accurate cost forecasts are essential for budget management and preventing financial overruns.
- Real-Time Reporting: Up-to-date insights into project progress. Real-time data helps keep projects on track and stakeholders informed, enabling quick adjustments as needed.
- Dashboards and Visualizations: Intuitive displays of project metrics. Visual tools help translate complex data into actionable insights, making it easier to grasp detailed project dynamics.
- Collaboration Tools: Features that facilitate team communication and cooperation. Enhancing collaboration ensures that all team members are aligned and can contribute effectively to project goals.
- Customizability: Ability to tailor the software to specific project needs. Customization makes the software more relevant to particular projects or industries, increasing its utility and effectiveness.
These features together provide a robust foundation for project managers to monitor and guide their projects toward successful outcomes. When selecting project forecasting software, consider how each feature will help manage the specific challenges and complexities of your projects.
Benefits Of Project Forecasting Software
Project forecasting software provides critical support to organizations and project managers by enhancing their ability to plan, execute, and monitor project progress efficiently. Here are five primary benefits:
1. Enhanced Accuracy in Forecasts: Significantly improve the precision of project timelines and budget estimates. Using project forecasting software allows users to leverage historical data and predictive analytics, resulting in more accurate predictions that reduce the risk of project overruns.
2. Improved Resource Management: Optimize the allocation and utilization of resources. This software helps ensure that human and material resources are deployed efficiently, minimizing waste and maximizing productivity throughout the project lifecycle.
3. Increased Agility: Respond faster to change. With real-time data and scenario planning tools, project managers can quickly adjust their strategies in response to changes in project scope, resources, or external factors, enhancing the project's responsiveness.
4. Better Risk Mitigation: Proactively identify and address potential project risks. Project forecasting software provides tools for risk analysis and assessment, helping teams to foresee potential issues and implement strategies to mitigate them before they impact the project.
5. Data-Driven Decision Making: Facilitate more informed and strategic project decisions. By centralizing project data and providing advanced reporting and dashboard capabilities, the software enables stakeholders to make decisions based on comprehensive, up-to-date information, aligning project outcomes with business goals.
Organizations that integrate this software into their project management toolkit can expect a significant return on investment through better managed, more predictable projects that align closely with their strategic objectives.
Cost & Pricing For Project Forecasting Software
Understanding the costs and pricing options of project forecasting software is essential for software buyers looking to make a cost-effective decision. Various pricing plans are available to suit different organizational needs, from small projects to large enterprise solutions. Here's a pricing and plans table that breaks of typical plan options and their pricing:
| Plan Type | Average Price | Common Features |
| Free | $0 | Basic forecasting, limited projects, minimal support |
| Standard | $25/user/month | Project tracking, budget forecasting, basic analytics |
| Professional | $50/user/month | Advanced analytics, integrations, enhanced support |
| Enterprise | Custom pricing | Custom features, full integration, dedicated support |
When considering project forecasting software, it's important for buyers to evaluate the total cost of ownership, including not only the subscription fees but also potential costs for implementation and training. Choosing the right plan often means balancing the necessary features against the available budget, ensuring that the software can scale as project demands grow.
Project Forecasting Software FAQs
Here are some frequently asked questions I receive about project forecasting software.
Who uses project forecasting software?
This type of software is typically used by project managers, financial analysts, operations managers, and business leaders across various industries to plan and execute projects more effectively.
How does project forecasting software improve project management?
It allows for more accurate budgeting, efficient resource allocation, timely risk management, and overall better strategic planning by providing data-driven insights and predictions.
Can project forecasting software integrate with other business tools?
Yes, most project forecasting software can integrate with various business systems such as ERP, CRM, HRM, and others to streamline data flow and enhance overall project accuracy and efficiency.
Is there a free version of project forecasting software available?
While many providers offer free trials or limited versions, full-featured versions typically require a subscription.
What should I look for when choosing project forecasting software?
Key features to consider include data integration capabilities, the sophistication of predictive analytics, ease of use, real-time reporting functions, and the level of customer support.
How much does project forecasting software cost?
Pricing can vary widely based on feature set and number of users. Plans can range from $25 per user per month for basic versions to much higher rates for advanced features and enterprise use.
What are the benefits of using project forecasting software?
Benefits include increased accuracy in project planning, improved resource management, enhanced decision-making capabilities, better risk management, and more successful project outcomes.
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