What is PMO?
PMO (Project management Office) is a team that is responsible for efficient functioning of the ongoing projects within the organisation which can be internal or external. With an increasing traffic of incoming projects, it now becomes necessary for any organization to have a dedicated PMO team to ensure that the project methodology is appropriate.
Why PMO is important for an organization?
PMO is responsible for setting and maintaining the standards & discipline in the execution of multiple projects of different scales. It acts as a governing body by enforcing correct accountability and helping manage projects in consistent manner. PMO also helps any organisation deliver value to their projects and programs by providing right tools and templates for the project. PMO also does project auditing and perform compliance checks.
The types of PMO that function in an organisation are:
SUPPORTIVE PMO has a lower or near zero level of control on the project activities. It provides support by consultations on request. It provides the necessary tools, templates and best practices, training and technical support access to information and lessons learned from other projects.
CONTROLLING PMO imposes a moderate level of control on projects and their activities. It provides a unified framework, multiple tools and applications for the projects in the organisation, which can be used after appropriate adjustments and modifications. It is also involved in helping the organisation adopt project management frameworks and methodologies.
DIRECTIVE PMO has a high level of control on the projects. It fully manages the project and provides the necessary resources and support. It also provides high professionalism in managing projects, which guarantees a high level of consistency in work on projects level.
KPIs of PMO are organisation specific and depend on the type of PMO in operation. The KPI can be defined based on the following criteria:
- Work of the PMO ex: Document Compliance etc
- Acceptance of the PMO
- Results affected by the PMO ex: Project process improvement like changing from waterfall model to agile
The PMO acts as the eyes and ears of the management at the same time centrally supporting good governance of the projects. The exact roles and responsibility of the PMO varies based on the organisational needs and the nature of the projects. Nevertheless, the PMO is a central body responsible not only to manage the group of projects for an organisation which aims at ensuring standardization, reducing duplication and leveraging resources such as people, technology, and communication; but also, auditing or tracking ongoing projects at regular intervals to ensure projects are on course and follow the approved methodology. A proper application of PMO enables the organization to undertake quality work with reduced resources (man, machine & materials), risks & costs.
How is Thoucentric helping clients in this space?
Through our expertise in this space, we have helped clients set up effective and efficient PMOs. We also help our clients maximize their returns on investment from these set ups through our industry and subject matter expertise. We follow program management approach in solving all complex business problems of our clients.
Connect with us to know how you can benefit from a PMO framework customized to your requirements. Contact@thoucentric.com