Need for Project Management Office (PMO).
Even for those with years of experience in project management, it is not easy to deliver projects on time and within budget. Project management offices were created to help improve efficiency, reduce costs, improve delivery times, and increase productivity. Project management offices provide the IT head with the structure necessary to standardize project practices and improve project portfolio management. The PMO allows for the creation of best practices and methods and the establishment of repeatable processes that will increase project success rates.
PMO is not the secret to project success
However, one cannot imagine that PMOs will be the secret to project success. They don’t magically solve all project challenges. The main reason is that it is impossible to find a single solution for every problem and challenge in a volatile environment.
However, it has been proven that the maturity of the PMO and the success rate for projects is strongly linked. This shows that an organization with a well-structured PMO will have a higher success rate in executing successful projects over time than one with a less mature PMO. Organizations establish PMOs to increase project success rates and to follow standard procedures. Quality certifications are a key component of standard practices.
The organizational culture will determine the PMO model to be followed.
PMO models can be divided into two types: a PMO that acts as a consultant partner and a central unit that allocates project managers across various organizational units. The organizational culture, strengths and goals will determine the PMO model that you should follow. A well-planned and established PMO can assist the CIOs in providing strategic direction for different IT projects and ensuring their success. It will take anywhere from three to five years for a functioning PMO to contribute to the success of an organization.
The following are the key take-aways and contributions of the PMO, regardless of its size or model:
Support: PMO provides support to project managers from different business units in order to manage projects effectively.
Methodology: The PMO creates a consistent process for project management that can be followed by all project teams.
Training: The PMO ensures that all project teams are enrolled in the ongoing training program, which is designed to keep pace with emerging trends.
Consulting: Provides internal consulting and advice to employees on best practices.
Tools: Maintains the repository of project management tools for the use by the various project teams.
Portfolio Management: This is a way to manage multiple projects by creating a team of project managers who are skilled.
It is important to realize that PMO benefits go beyond cost savings.
Software for Project Management
If you’re interested in learning more about top rated project management software, the editors at Project-Management.com actively recommend the following: