The Project Management Office is slowly making its way to mainstream project management. Although a number of companies are opening up their PMOs, not all have been able to truly reach their full potential. Companies that have actually benefited from project management offices are those which had the PMO and the project manager working in sync. PMOs can add significant value to the work that project managers do, but only when the processes are followed as defined.
Here is how PMO can add value to a project manager’s role in a company.
PMO improves the chances of success
With the implementation of PMOs, the probability of a project failing has gone down significantly, project managers have noted. Just as the failure of a project can impact the project manager’s reputation as well as credibility in a negative way, success of the project can boost his or her standing in the company.
Delivery under budget made possible
At a time when completing and delivering the project without exceeding the budget is difficult, PMO enables project managers to deliver their projects well under budget, according to some studies. The standards that the PMO creates and maintains within the business are what make it possible for project managers to deliver the project under budget.
Reduced cycle time, more projects to handle
PMO can make multi-tasking better which ultimately leads to reduced project cycle times. With standardized project processes, teams will be able to deliver real results in terms of the overall project cycle time. This means the business can handle more projects and deliver quality work in less time.
PMO makes it possible to employ resources in a cost0effective manner. Proper allocation of resources will enable each and every member of the project to deliver their best, which eventually will improve overall productivity in the company. Not only can PMO improve productivity, but it can do so while ensuring that the project gets the necessary attention and resources it needs for completion.
PMO can standardize the methodologies and process that make the project manager’s job a lot simpler, but no less significant. Standardized processes imply consistent performance and also make IT project portfolio management more effective. The PMO supports and delivers the standards and tools that the project manager also contributes to, so that the company can perform and deliver better results. Also, as mentioned earlier, standardized processes get you real results quickly.