Project Management Office: Your Investment Guardian
Complex transformation is difficult to manage. There are lots of moving parts, multiple stakeholders with conflicting opinions and pressure to deliver value quickly. Coupled with a lack of resource, or at least, the right resource and poor data leading to no single source of truth, it can often feel like you are in firefighting mode when delivering major programmes. Hard work can be squandered if processes, tools and templates are not aligned, leading to inconsistencies across the enterprise. How do you protect your investment? How do you ensure that the value from your transformation programmes is realised? This is what your Project Management Office (PMO) should be doing. Your PMO is your investment guardian. At Project One, we have seen many PMOs across various sectors and companies. Some have got it right, however many do not understand the real role of the PMO and how it has to underpin the governance of your portfolio. Without a strong and efficient PMO, your projects are likely go off track, people will not be clear on the project status and will lose faith in your delivery team. A best in class PMO is not a silver bullet. There will always be bumps along the way and challenges that need to be addressed; it will not guarantee success on its own. However, an effective and efficient PMO will be an enabler to the project team, governing each project in the right way and underpinning successful and safe delivery.
Your PMO creates maximum value by helping project managers to be successful, as well as enabling senior managers to run the organisation effectively in taking key decisions. There is no ‘one size fits all’ PMO. The type of PMO, its size, its maturity and how it underpins your company strategy and vision all need to be agreed, implemented and nurtured.
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