What is PMO?
A Project Management Office, also known as a PMO, has traditionally sat within technology departments. More recently we’ve seen a shift for PMO’s to be an enterprise function, as it’s projects that drive the delivery of business strategy. Below is the simple explanation of ” What is PMO? ” the beginners guide.
The main role of a PMO is to provide governance, standards, reporting and process around project delivery. Its function is to maintain and define the standards as well as planning and prioritisation of the project pipeline.
When a company gets to a level where they run multiple projects, this is where they will get value and traction by implementing a Project Management Office (PMO). A successful PMO consists of a few foundational elements including tools, processes, people, and strategy. Standardising processes and improving efficiency will ultimately result in significant cost reductions and improve productivity across an organisation. With an increase in project volume and an increase in more complex projects, a Project Management Office becomes a vital part of any business. What is PMO continued..
What is PMO and what does it do?
A PMO is not defined by a tick box list it will vary from company to company but below are some of the possibilities:
Promote communication in an organisation and information flow
Train and coach stakeholders and project leaders
Standardise methods and processes
Create a project portfolio
Prepare resources for portfolio board
Maintain Employee data: capacity, project allocation, and skills
Optimize resources and solve conflicts
Monitor projects and project portfolio tracking
The technology industry is growing and so is Project Management Offices.
Find out what the future trends are of PMO over the next few weeks. See why you should outsource your PMO: