Value of Enterprise PMO
Current scenario across the industry of an enterprise PMO is very ad-hoc, convenience based and as a means to collect and disseminate information mechanically. Potential of a PMO to contribute for long term success of a business is not yet fully understood and established. Fall out of the same is that businesses are unsettled every other day and becoming more and more depending on individuals excellence and making long success more of a chance.
The success factors of a portfolio of projects – defined, measured and monitored at tactical/implementation levels needs to be further elaborated and integrated with different dimensions of organizational / Business drivers.
Drivers are many for example – Strategic, COE, Tactical at one of dimensions and there are similar drivers at different dimensions. I call it as 3 X 3 X 3 X 3 X 3 X 3 X 3 integration.
This is an elaborative and complicated exercise which needs to be done ongoing basis as the business evolves on a long term roadmap.
Only organizational entity which can perform this very effectively would be an enterprise PMO with appropriate PMO structure. So, in essence to say that the traditional triple constraints which define the project success can only be sustained for long term business success with redefining and realigning the contributing parameters of success from multiple business perspectives and in strategic manner.
This wholistic approach to a managing portfolio of projects through a very structured approach through enterprise PMO would make the value of investment into establishing a PMO more rewarding and rational justification for adoption of PMO practice in any kind of business of any scale.