The Project Management Office (PMO) is theThe Project Management Office (PMO) is the function of the organization responsible for defining and maintaining process for project management. The goal of a PMO is to standardize and increase the success that the organizations takes on, often through documentation, metrics, and guidance.
The challenge with a PMO within an organization is that many are unsuccessful in their attempts to effectively execute projects and deliver value to the organization. It become important for PMOs to have clear goals and plans to achieve those goals in order to drive organizational success and deliver the value promised.
Innotas Project Portfolio Management solutions are designed to help PMO leaders achieve their goals by enabling visibility and strategic alignment through project prioritization for better project success and improved execution. Let Innotas help with:
- Evaluating new projects – As requests come in, using a PPM solution can help score projects and prioritize them based on such metrics as the technical architecture, budget requirements, benefit to the organization, and risks with undertaking the project.
- Reducing cost and maintaining standards – PMO also have the role of developing and implementing a standard process for project management. By supplying tools that users can employ to manage their workflow and process, the PMO is able to understand methods and future demands.
- Train project professionals – As resources are added to projects or moved around, it is the responsibility of the PMO to maintain a quality standard for projects and ensure the team is equipped to handle the demands of the project
- Assessing ongoing projects – The PMO must also keep track of ongoing projects and track potential risks as the project progresses. Some projects have higher dependency than expected, unaccounted for risks associated with them, or require resource reallocation. The PMO will likely identify and rectify situations that arise as projects flow and advise stakeholders as needed.
- Benefits tracking – ROI on projects is a one of the major roles of the PMO. Projects must deliver business value and have a method to measure the value in order to justify the spend.
The Innotas PMO solution is built on a strong foundation of Project Portfolio Management (PPM), enabling PMO managers to make strategic, productive, and cost-effective project management decisions. Want to know more, download our whitepaper “Project Management Office: Seeing the Whole Picture.”