In a post at Strategy Execution, Lindsay Scott shares the idea of the “strategy execution office” (SEO), a type of portfolio management office with strategy management baked into it. What makes the SEO special is that it enables strategy-setting to occur during prioritization discussions, as opposed to just in closed-door top-level meetings. So in essence, the SEO is strategic power made manifest into a business function, actively guiding projects and programs to better adhere with strategy. How many PMOs exist today that are analogous in form with the SEO? Probably not a lot, but a few, and there are certainly advantages to the idea.
For a longer discussion of what an SEO is and how it operates, you can view Scott’s post here: https://www.strategyex.co.uk/blog/pmoperspectives/the-strategy-execution-office/