The efficiency of project portfolio management increases manifold when there is a dedicated project management office to oversee it. Most businesses know that for a fact. What many do not know are the hidden benefits of having a PMO in the organization. Here are 5 things that a dedicated project management office can offer to a business.
PMO does more than management
If you think that the project management office’s role is all about policing the projects that a company is currently working on, you think wrong. PMO is more than just about overseeing how the projects are executed. What a PMO really does is bridge that gap between the business and the IT department and enables consistent communication between the two parties. The PMO also
- Points out the lack or inefficient or inconsistent application of standards that can affect the overall project quality.
- Make it easier to delegate and execute projects across geographical locations.
- Makes project managers and team members accountable for their roles and encourages them to take ownership of their actions.
From compliance to subscription
One of the major things that a MO does is make sure that the best practices are followed and all policies in place are adhered to. But good PMOs do more than that. They create best practices that the project teams adopt not just because they have to in fear of punitive action, but because they wholeheartedly believe in their efficiency.
Creating the synergy between business and IT
A PMO acts not only as the bridge between the IT department and the business, but also works towards building a rapport between them. The aim of the PMO is to enable the business or management and the IT teams to work in synergy by establishing credibility. The three things that the PMO does it with the help of include – clarity in communication, trust and influence.
Communication is the most important tool that a PMO uses to maintain its credibility, which allows it build that rapport between management and IT. If communication fails, then trust and credibility become dust.
Selecting the right tools and resources
PMO not only ensures efficient allocation of resources, but also determines what kind of tools and resources are best for the projects in question. It is the responsibility of the project management office to select and maintain, and also upgrade the best tools possible to ensure that projects are completed without a glitch.