Microsoft Office Project Portfolio Server 2007 allows creation of a project portfolio, including workflows, hosted centrally, so that the information is available throughout the enterprise, even from a browser. It also aids in centralized data aggregation regarding the project planning and execution, and in visualizing and analyzing the data to optimize the project plan. It can also support multiple portfolios per project, to track different aspects of it. It also includes reporting tools to create consolidated reports out of the project data.
Office Project PortfolioServer is being rolled up into Project Server 2010 with 64 bit requirements all the way around for the 2010 family