Did you know that a lack of clearly defined objectives and milestones for a project is the cause of 37% of project failures? Such projects are besieged by flawed strategies, lack of accountability and poor discipline. An organisation runs an increased risk of projects not thriving without a rigorous process and team in place. This is where the value of Project Management Office comes in.
One of ECS Associates’ key services is project management office (PMO). ECS’s main goal with its customers is to improve the effectiveness and efficiency of project management within the organisation, resulting in better project outcomes and business value.
PMO is a group or department (centralised organisational unit that defines, oversees, maintains and ensures project management standards across an organisation. It can either be dealt with internally in a company or outsourced to PMO specialists. Think of the PMO as a project facilitator, offering structure and assistance.
The PMO is responsible for maintaining consistency in project management practices, facilitating communication and collaboration among project teams, and providing support and guidance to project managers.
The functions of a Project Management Office include:
- Standardising project management processes and methodologies across the organisation
- Developing and maintaining project management tools and templates
- Providing training and coaching to project managers and teams
- Collecting and analyzing project data to provide insights and recommendations for improvement
- Monitoring and reporting on project performance to senior management
- Identifying and managing risks and issues related to projects
- Providing project management support services such as resource allocation and scheduling.
- Increased transparency and visibility into your team and resource capacity needs, which can help to limit information silos and miscommunications.
- Accurate and aligned budget and resourcing allocation, which can help to satisfy executives and keep the overall project portfolio in check.
Different levels within an organization can benefit from the PMO. This will depend on an organisation’s size, complexity, and strategic goals.