Building the PMOPMO TrendsProject Management Office

PMO Knowledge Bulletin: Types, Misconceptions, and Advantages to Be Aware of

PMO or project management office is a team of people that follows PRINCE2 or PMBOK guidelines for governance. As per a recent PMI report, its work resulted in 38% more successful projects. In this article at Knowledge Hut, Siddharth Singh shares knowledge regarding PMO types, misconceptions, and advantages.

Understanding the Term

A PMO establishes project management methodologies and ensures you adhere to the reporting framework. It conducts audits and implements best practices for governance. In fact, 71% more organizations have PMOs now. Previously, the project management offices used to make sure that the projects undertaken are giving the expected business benefits. Now, they are shouldering more responsibilities like mentoring and channelizing project directions. With the popularity of Agile, the PMO is expected to be aligned with market demands, technology, and competitors. It should control and schedule resources to several layers of the business. Following are the types, misconceptions, and advantages to understand your project management office better:

Types: There are various degrees at which a PMO functions in an organization. It can be as a mentor, an enabler, or a supervisor. As a mentor, the team assists projects to reach a successful outcome. Through sharing of best practices, templates, training, and expertise, a project manager can rectify the knowledge and performance gaps. As an enabler, PMOs conduct regular checkpoints and audits to understand project progress. With the support of various stakeholders and project managers, they can streamline processes and eradicate erroneous work environment. The PMO team can also monitor projects as a supervisor. It then directly interacts with the project manager to maintain the recommended best practices.

Misconceptions: Professionals think that project management office is an audit team. It strives hard to get buy-ins for projects. Several organizations feel that the team adds no value but incurs more cost. The team is created to make projects more cost-efficient. People also think that PMOs are made of orthodox people that enforce traditional methodologies. In fact, today’s project management offices embrace new technologies and methodologies faster.

Advantages: It identifies the projects that align the most with corporate goals and strategies and prioritizes them. Careful monitoring of KPIs related to the projects ensure that the projects are delivered within time, scope, and budget. Whenever there is a skills gap, the project management office ensures proper training and mentoring are provided for the professionals. It maintains the communication channels for both external and internal stakeholders. The team is responsible for the safekeeping of projects’ intellectual assets and regularly updates the repository with the newest information. Before any risk become a threat, PMOs ensure those are looked at and mitigated.

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