There are a number of reasons why starting a PMO in 2014 can benefit your business in the long run. A PMO is a department within a business that helps define the standards for project management. Most departments within a business look at avenues to stay connected with one another. A PMO introduces structure and a sense of clarity within a company as it creates a level of coordination that otherwise would not exist. This leads to a higher level of cost efficiency as the company is better suited to handle individual projects more efficiently.

Increased transparency

A well structured PMO creates a level of transparency within a business that helps it track what each department is doing. This increased level of transparency will help a business understand how resources are being consumed in various projects across different departments. Along with this, a PMO will help an organization optimize their staffing levels and ensure that human resources, finance, IT and other departments within a business are laid out effectively to match the project demands.

Sometimes, there is no sense of accountability in large businesses as a failed project usually gets pushed across different departments in a hope to be swept under the rug. A PMO will help bring a sense of accountability to an organization as each department will be held accountable for every step of the project that it is undertaking. This level of accountability will help the employees of the business view each project through the same keyhole. The focus within the business will be very well structured which will lead to a highly efficient and cost effective project building process.

Ensuring high quality across different projects

A PMO helps assess each step of a project along its way, ensuring a certain level of compliance of individual projects against their goals and objectives. This auditing process will ensure that there is a high standard of quality being maintained within the business. The various project managers and project team members will also be offered an advisory role by the PMO, thereby boosting employee confidence and morale. This hands on assistance and guidance helps increase overall efficiency as well as quality control in the organization.

A well structured PMO is necessary in all businesses where there are simultaneous projects taking place across various departments.