| All over the world, organizations are implementing formal project management processes and discipline to deliver their projects, be it Construction Project or Software Project or New Product Development project or Movie Project, On Time & Within Budget and to an agreed upon level of quality. Part of the ability to execute better, faster and cheaper comes from their ability to implement common processes and practices across their entire organization. Everyone in the organization is already familiar with the general ways that projects are planned and managed.
However, the larger your organization gets, and the more projects that are executed at one time, the more difficult it becomes to enforce this organizational consistency, and without this consistency the full value of implementing a common project management methodology is not reached. Many organizations have attempted to solve this problem through centralized organizations that are responsible for varying aspects of project management methodologies. Many companies call these groups a "Project Management Office" or "PMO". Other names include the Project Office, Enterprise Project Office, and Project Management Center of Excellence . In some companies, the PMO organization contains only one person. In other organizations, the PMO team could be quite large.
For one thing, the PMO does not manage projects, and so does not have a direct project connection. It is indirect. The value proposition for a PMO is much looser and more subjective.
A PMO costs money to staff and to run. In many respects, a PMO reflects an overhead investment. The hope is that the money and time invested in the PMO will be more than saved by delivering projects better, faster and cheaper across the entire organization. In fact, the value is gained by not only helping individual projects meet their expectations, but by implementing processes and practices that allow every project within the organization to be delivered better, faster and cheaper. An organization typically needs to be of a certain size before the overhead associated with a PMO becomes beneficial.
It shall be noted that the PMO can be successful only if they gain agreement from the senior management team on their overall role and the general expectations they need to achieve. In general, a PMO is responsible for deploying a consistent project management methodology within the organization, including processes, templates and best practices.
IIPM Chennai, is also
giving consultancy services on Project Management Office (PMO) for
especially IT, Manufacturing & Construction companies for improving
their PM capabilities.