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Project Management Office (PMO), Meaning

A Project Management Office (PMO), is a department within an organisation that documents and standardizes the best methods of project management. The PMO defines the scope of projects, trains staff, tracks metrics, and monitors all activities. PMOs use metrics in order to optimize processes and ensure that each project is geared towards the organization’s goals and objectives.
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Why is a PMO important?
PMOs Establish KPIs
External PMO vs. External PMO vs.
Software for Project Management
Why is a PMO important?
A repeatable, optimized process eliminates the need for reactionary tasks and creates a solid sequence of tasks that will help you complete your project successfully. An optimized process is one that has been successfully used before. There are fewer variables that could cause a project to veer off-track. Project failure, missed deadlines and cost overruns can all be minimized.
The people who use the processes are another critical component of a successful project.
PMOs must have a clear understanding about the skills of individuals using the processes. The process is designed to be completed in a certain time frame. A lack of the required skill set could cause delays. A lack of skills can be a problem depending on the business. It could mean that you cannot configure a server, procure materials, pour concrete, or use a software program. It is crucial to identify any knowledge gaps and provide refresher training for a project’s success.
Training gaps can be created when new technologies are introduced to an organization. Uncommonity with a collaboration tool or construction tool can negatively impact a project if training is not coordinated.
Learn more: How to identify and prevent employee burnout
Along with people and processes, technological tools are the third pillar in project management. However, technological advancements in project management today require that project personnel are constantly trained.
The software can be customized to manage projects and eliminate the need for reports. Collaboration tools eliminate the need to have a central project management team. Bring Your Own Device (BYOD), and cloud technology allow you to address any critical path issues at anytime. Software such as Zoho Projects allows project participants and PMO personnel to communicate easily, keep track and have easy access to all documentation. It is easier for PMOs and project participants to fulfill their roles with specialized project management software.
PMOs Establish KPIs
The creation of a project governance structure is one of the main responsibilities of a PMO. The organization’s goals and objectives are directly influenced by the governance framework. This framework is a systematic, repeatable, and methodical approach that governs all projects. The governance board is made up of PMO personnel, project managers and resource managers as well as sponsors such investors and clients. All stakeholders have an interest in the project’s progress. The framework includes measurable standards and metrics that enable the PMO to identify process gaps or deviations from the expected outcomes.
Key Performance Indicators (KPIs) are used to measure project success and processes. Many KPIs are measured based on the expected outcome and not the actual outcome of a particular project. These are some of the most popular KPIs:
Cost Performance Index (CPI).
Actual situation versus hours worked
Percentage of tasks successfully completed
Percentage of projects that were completed on time
Resource utilization
Return on Investment (ROI).
KPIs are generally used to measure the success or failure of a project or process. Problems such as a lack or inadequate funding could lead to a project failing.