An agile PMO ensures that project selection is in line with the market sentiments and may even go ahead with postponing or dissolving projects that might hurt company's finances. Successful execution & closure of beneficial projects leads to increase in profits. In a traditional set up a PMO can be seen second line to project managerīusiness Competence: PMOs assist in successful selection of projects that align with the organization strategy and goals. A PMO ensures that different verticals in an organization are guided and controlled in a similar fashion without any prejudice and that resources are utilized and shared effectively from within the common pool. It is expected that the PMO is in sync with market requirements, technology, existing & emerging competition and possesses capability & capacity to influence decision making at the higher most level. An agile environment takes the concept of PMO to an entirely new level. Senior management expects the PMO to reach every nook & corner of the company's system and channelize all functional departments towards assisting favorable project outcome. However, today's changing dynamics have led to PMOs assuming greater roles and responsibilities ranging from coaching to handholding & even directing projects towards successful deliveries. Also, organizations which have their PMOs aligned to the company's strategy report 38% more projects being successful and 33% fewer projects ending up as failures.Įvery organization undertakes projects for some targeted benefits and the primary function of every PMO is to ensure that projects, programs and portfolios of the organization are streamlined towards achieving their strategic objectives. The figure has skyrocketed from 61% in 2007 to 71% today. As per PMI's "Pulse of the Profession" - 2017 edition, the percentage of organizations with a PMO is witnessing an upward trend. A PMO, also known as a Project Management Office or a Program Management Office is an entity that adopts, enforces and maintains standard methodologies and processes of project management within the organization.Ī PMO would consist of people conversant with guidelines mentioned in the PMBOK® or PRINCE2 depending on the region where the services are required or incase the organization has a specific inclination towards adopting one of these practices.
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