How mature is your PMO?
The diagram defines what best practice PMO’s look like and what functionality should be included. Bear in mind that PMO’s don’t just appear, they develop and grow over time. So, the question is how mature is your PMO?
The end to end processes that make up a best practice Portfolio/Project Management Offices or PMO’s are highlighted in the diagram. The strength of the PMO increases as the number of functions increases, and the width of a PMO’s scope increase moving from a Project to Portfolio orientation.
The components of a best practice PMO fall into three categories:
Portfolio Management – is all about:
- Collecting investment ideas
- Building business cases (aligned to the organisation Strategy)
- Prioritisation and selection of projects for execution based on strategy
- Reviewing portfolio benefits based on KPI’s
- Adjusting the portfolio to deliver the organisational objectives
- Set (reset) of review objectives
Programme Management – is all about the execution of similar projects and it includes:
- Project and Programme Assurance
- Quality, Commercials and Delivery of Requirements/Scope
- Controls Compliance – Process and Systems
- Governance & Approvals
- Cost, Contract, Document and Resource Control
Project Management & Project Controls – is the entry level of a PMO:
- Provide professional planners and project managers
- Manage project execution (plan, schedule & resource according to organisation standards)
- Record and Manage Risk & Issues
- Record, store and manage project documentation
Find out the maturity of your organisations PMO – take the PMO challenge by completing the online questionnaire here