The increasing number of Project Management Offices (PMOs) represents a growing trend for traditional project management that aims to improve project delivery and offer a fresh and innovative way to improve both business and the enterprise’s project effectiveness. Using a wide array of methods that are specifically aligned to each unique business and project, when effectively implemented the PMO can offer greatly increased project efficiency, cost savings and overall benefit to business. Project delivery is just one side of a PMO, with deeply business-integrated services such as portfolio management, the strategy of choosing the right projects for your business – not the other way around – being a key feature of the service.
In a recent survey, businesses spanning the finance, IT, marketing, telecommunications, government, infrastructure and various other industries that had implemented PMO solutions, the degree to which the PMO can benefit an organisation was reinforced. The survey revealed a 41% improvement in overall project successes over the past 2 years, with more than 80% of this increase being attributed to effective PMO’s. This statistic alone shows the positive benefit of the PMO, and with their growing focus in business, this is likely to be proven further in coming years.