In the current challenging business environment and slowed economic revival, companies are moving toward business models and in turn delivery models that are predictable, consistent. Businesses are looking for project delivery model that will help them to cut down on cost rather deliver more value within a allocated budget. This is not expected for one or two projects but most projects running across organisation. How would organisations be able to achieve this or implement such consistent and predictable project delivery mechanism? Though it is not any innovative solution as such, but companies have identified the responsibility of achieving such project delivery model with project management office PMO staff.
What is a project management office (PMO) and do you need one?
Project management built to keep track of all your work
A Project Management Office , abbreviated to PMO , a group or department in an enterprise that establishes and implements best practices and maintains standards related to project management, planning and execution. The PMO strives to standardize and introduce economies of repetition in the execution of projects. The PMO also serves as an organization's central hub for project documentation, guidance and success metrics. A PMO is the backbone of a successful project management approach at an organization. It is a function that provides decision support information, although it doesn't make any decisions itself. A PMO underpins the project delivery mechanisms by ensuring that all business change in an organization is managed in a controlled way. A PMO's main purpose is to facilitate project success by establishing best practices, mitigating risks and ensuring on-time project delivery within a specified budget.
How to Write a Business Plan for Project Management Services
Strategic-level PMOs , also known as enterprise project management offices , are essential in developing, maintaining and communicating effective project, program and portfolio practices. Having a solid company-wide strategic plan provides the blueprint that all PMO initiatives should align with and be measured against. Unfortunately, only 41 percent of strategic PMOs have a high level of alignment with their organization's strategy.
There is no one right model for a successful project management office PMO , but there are certain qualities that make an effective new leader. Engage immediately with key stakeholders, staff and organizational leaders to learn what needs and pain points should be addressed first. Begin establishing strong relationships across the organization, and secure a good reporting relationship with an influential, well-positioned executive who understands the value of the PMO. Their support will be a major asset in the coming months. Assess your staff and resources — ascertain the value of what you have, any liabilities, and what gaps you must fill to succeed.