“What exactly is PMO?” The PMO is a group or department that stands for Project Management Office that defines, maintains, and enforces project management principles in an organization. PMO can be internal or external. They are also popular as program or project portfolio management offices, but they are different types of Project Management Office.
The Project Management Office maintains project documentation and provides direction and key performance indicators for projects under its management. Guided by guidance, Project Management Office helps organizations recoup their investments and add value to their stakeholders through projects, programs, and portfolios. So, this is done through project portfolio management tools that provide data and information about projects and programs in an organization.
But what is the responsibility of PMO, and what is its purpose in project management and business? Let’s discuss.
Roles of a PMO
The Project Management Office ensures that the company’s procedures, practices, and operations are performed correctly—on time, on budget, and consistently. In addition. “PMOs must ensure the success of projects and programs, and this is very important because organizations deliver value through projects and programs,” Weiss (vice president of PMO Institute) said.
In addition, according to the PMI Pulse of Profession report in 2017, companies that strategically align their enterprise-wide PMOs had 38% more projects that did not meet their original and business goals. They also had 33% fewer projects that failed.
Following are some of the roles of a PMO:
Champions project management:
The role of the Project Management Office is to keep employees informed through regular communication and training. This also includes maintaining a common project culture, uniform working methods, and defining project metrics and KPIs.
Mobilize project tools:
PMOs develop work management tools, templates, and software to create a reliable design data repository, which improves decision-making.
Select the right projects:
The Project Management Office is often responsible for selecting the right mix of projects for the organization. These projects should align with broader organizational goals. This also includes creating policies, processes, and workflows to define and manage all projects.
Perform effective resource management:
The Project Management Office should define roles and manage priorities based on budget and timelines. They will also educate and coach employees to ensure orderly and consistent project management throughout the organization.
Types of PMO
No two PMOs work the same, but they can be divided into three types of PMOs:
Supportive:
A supportive or Assistant Project Management Office brings together all the projects in an organization, providing best practices, templates, and training but less control.
Controlling:
The controlling PMO verifies that projects apply management tools, processes, and standards with some controlled degree.
Directive:
This PMO maintains a high degree of control over the project management process in an organization.
Who needs a PMO?
Not companies have a PMO, and not every company require a PMO. However, PMOs are helpful because the amount of projects in an organization increases, the risk of failure increases due to lack of resources and competitive preferences. The Project Management Office acts as a conductor, understanding how each proposed project fits into a broader business strategy.
The Project Management Office helps ensure that resources are properly allocated to reduce project failures.
You may need a PMO if:
- Your stakeholders are not visible in the progress of the project.
- You are not able to accurately track the success of the project.
- Projects consistently finish later than planned or over budget
- You don’t have a criterion process for starting and implementing projects.
- Projects do not meet business goals
PMO: Conclusion
In conclusion, the PMO is becoming an increasingly important part of a successful organization. As new technologies emerge and companies strive to innovate, PMOs must be prepared to be relevant and valuable.
In this fast-growing business scenario, PMOs also need to move fast. PMOs can organize successful projects using timecards, easy to use, better budgets, and accurate cost estimates. With smooth and consistent action, break the silos and make seamless digital transformation in your organization.
Read also, What is Cell Signal Technology (CST) and its products?
