A portfolio management tool is a computer program, spanning from a simple spreadsheet to a full-featured and integrated software suite, that allows the entire new or active product portfolio to be viewed and analyzed according to selected key variables.  PM Tools generally include idea pipeline and product lifecycle management.  Software tools may include team member notification, scheduling, budget control, and knowledge management modules.

For more New Product Development (NPD) terms, please click here for the NPD Glossary.