A formalized Project Management Office (PMO) can improve project delivery, reduce costs, and play a key role in ensuring business strategies are executed effectively.
The top three functions of a PMO are:
- Establishes Standards & Guidelines. If your PMs are handling projects their own way, even if they are good project managers, then projects will not be consistent and confusion will be created as team members move in and out of different projects. A PMO will create standards and guidelines to ensure all projects are being managed in the same way with the same tools.
- Provides Processes to Fit Your Business. Every organization structure and culture is unique. A PMO can enable you to base your project management processes on industry standards with customizations to meet the needs of your organization.
- Creates Visibility. When all projects are managed the same way, reports can easily roll-up into a project portfolio management (PPM) tool to provide stakeholders and leaders with a complete picture of initiatives across the enterprise.
While there are many other functions of a PMO, these three basic areas provide stepping stones to a project management process that is repeatable, reliable, and predictable. If you are interested in learning more about enhancing or creating a PMO, download our free eGuide 7 Steps to w World-Class PMO.