What Separates Top PMO Practitioners from the Failures?
Our colleague Karen Adame recently delivered an insightful webinar highlighting the discouraging lack of success that many companies have encountered when attempting to implement a program/project management office (PMO).
Among the findings cited: a mere 40% of PMOs were perceived as hitting their goals and 50% of PMOs are shuttered by their organizations within three years.
Ideally, the PMO creates the standards for repeatable project success, tying together execution-level staff (project management) and leadership to enable good project portfolio management (PPM) in turn. The PMO’s governance and oversight helps keep project execution tied to company goals—and provides measurable demonstration of its worth.
This mark, as noted above, is missed on many occasions. Among the factors: poorly defined goals, lack of executive buy-in and advocacy, inability to demonstrate positive impact on the business, and under-resourcing of PMO initiatives.
The lack of actionable, trustworthy information from PMO staff and PMOs becoming too embroiled in execution-level project work are two more common torpedoes through the hull.
Top-performing companies have successfully tuned the PMO approach to deliver on what the company expects from them. Adame looks at the credibility and performance gap around PMOs, the maturity models that can correctly frame their consideration, and how companies are making them work in “The Disturbing Reality of Today’s PMO.” This ondemand webinar, should prove highly valuable to the project-minded leader whose company has an underperforming PMO or is still considering whether or not to launch one.
Ultimately, it’s about correctly positioning the PMO for success and being able to prove its business value according to the terms of its creation. Many companies miss this mark, and in turn, miss a valuable opportunity to make their projects more profitable across their organization.