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Starting a PMO

MPUG

PMI describes the Project Management Office (PMO) as a strategic driver for organizational excellence. The PMO seeks to enhance the practices of execution management, organizational governance, and strategic change leadership. Company A might not have a PMO, company B could have a PMO where the project managers (PMs) do not report to the PMO, and Company C could have a mature PMO where the PMs report to the PMO. Beginning a PMO.

PMO 70

Sustain Your PMO: Nine Easy Lessons

The Lazy Project Manager

As has been already discussed the reality out there in ‘PMO land’ is that there is not a plethora of wise and experienced PMO managers, directors, leaders, heads, etc., and so it is sensible for anyone who is engaged to help an organisation set up a new PMO or advise on improvements to an existing PMO to reach out for some help. The risk to not doing so is to, at the very least, slow the return on investment of the new PMO down. P = Process.

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Your Basic Guide to IT Project Governance Framework

Project-Management.pm

The process won’t even work unless there is manpower involved, as well as methodologies and standards implemented for projects to be delivered successfully. IT project governance framework has since been the answer to this equation, but people seemed not to fully grasp its function. This article tackles the importance and significance of IT Project Governance Framework and its impact on the projects in the organization. This is one of the purposes of project governance.

Lean Portfolio Management: Lean Budgets and Investment Funding

Planview

Funding practices—that is, the way budgets are allocated throughout the organization—dictate nearly every business outcome. When implementing Lean-Agile practices at scale, organizations quickly realize that their push for agility conflicts with traditional budgeting and cost accounting practices. This is where Lean budgeting comes in. In traditional organizations, funding decisions are project-based, meaning budget is allocated on a per-project basis.

Lean 88

How To Secure Your PMO Profitability?

Project-Management.pm

It’s safe to say that Project Management Office ( PMO ) has numerous advantages and the results it impacts to the organization have been effective and helpful. Every existing organization around the globe are swearing by PMO. Over the years PMO profitability seems non-existent. Such occurrence causes the PMO to fall into a disorganized chaos that disrupts the flow of the project. PMO Profitability Problem #1: The PMO is a progeny of a defective executive structure.

PMO 78

PMO Leadership: How PMOs Can Evolve into Savvy PMOs

Planview

PMO leadership today is about more than being a purveyor of governance and delivering projects on time and on budget. The Savvy PMO fosters organizational agility, cultivates efficiencies, and drives growth strategies. The PMO leadership journey to becoming a Savvy PMO builds on a collaborative approach to adapt processes, support multiple work methodologies, and relook at their toolset. Start with this quick-start post to becoming a Savvy PMO.

2020 92

Project Governance: Establishing an Effective Steering Committee

Strategy Execution | PMO Perspectives

Within the project management community, the concept of governance is seen as a fundamental project control, which is easy to grasp in principle. Getting the governance piece right requires insight and at times a few honest conversations about roles and responsibilities. If those conversations aren’t happen ing, the project may end up with an ineffective escalation and decision-making process. Creating a smooth escalation and governance process.

4 Steps to the Successful PMO

Brad Egeland

Not all organizations require the level of oversight, structure and management that a project management office (PMO) will bring to an organization. Put a PMO Director in charge. Hire a PMO director. Make sure senior management is behind the PMO project.

PMO 131

Why the Stage Gate Process will Make You a Better Project Manager

Online PM Courses

The Stage Gate Process gets too little love from Project Managers. In a Stage Gate process, you break your project into stages, or phases. In this article, we look at why a stage gate process will enhance your project management, and how to make it work. What is a Stage Gate Process? The Stage Gate Process examines your projects at key decision points in its lifecycle. It is an important part of project governance that looks both backwards and forwards.

Healthcare PMO: BCBS Roundtable Exchanges Thought Provoking Ideas

Planview

A healthcare PMO today must have a strong constitution. Healthcare PMO’s should ensure that the organization has the right portfolio mix to accomplish its goals and be able to pivot and re-prioritize as needed. It’s an exciting time as we go through the portfolio process.

Why PMOs Fail: 5 Shocking PMO Statistics

Keyedin

As you can see from the quotes below, there is much to be concerned about as you set up your PMO and Project Portfolio Management (PPM) strategy. Since 2008, the correlated PMO implementation failure rate is over 50% (Gartner Project Manager 2014). Only a third of all projects were successfully completed on time and on budget over the past year (Standish Group’s CHAOS report). This misalignment has serious consequences for both the PMO and the business.

PMO 78

5 Characteristics of A Successful PMO Leader

Planview

Maybe you’re part of a newly-minted project management office (PMO). Or perhaps you’re a tenured PMO leader and looking to refine your skills. You’re valiant and ready to spearhead the challenges ahead for developing process and governance.

PMO 83

Is Joining a PMO the Right Career Move for You?

LiquidPlanner

Project managers wonder where the PMO fits in their career as many project managers are rewarded with more projects and higher complexity and scope—not detours into process, methodology, and compliance. If you are a PM who has considered a PMO assignment, you may have asked yourself these questions: Where does the PMO fit in this career path? Is joining a PMO a good career move? Will I be stuck if I go into the PMO? Five Reasons to Join a PMO.

PMO 81

Why PMOs Fail: 5 Shocking PMO Statistics

Keyedin

As you can see from the quotes below, there is much to be concerned about as you set up your PMO and Project Portfolio Management (PPM) strategy. Since 2008, the correlated PMO implementation failure rate is over 50% (Gartner Project Manager 2014). Only a third of all projects were successfully completed on time and on budget over the past year (Standish Group’s CHAOS report). This misalignment has serious consequences for both the PMO and the business.

PMO 60

A Real-World Success Story: New Zealand Government Improves Project Delivery

Planview

Meeting the demands of ever-changing priorities within a government can lead to inconsistent processes, departments with limited visibility into what is being worked on, and no ability to monitor investments. New Zealand Government, like many other government agencies, was tasked with overcoming these obstacles to develop and manage project and investment portfolios to grow the economy to deliver greater prosperity, security, and opportunities for all citizens.

What Is a PMO? PMO Meaning and Examples

Teamweek

In the last decade, more and more corporations have developed a project management office (PMO) to benefit their business. To get started, you’ll want to learn more about PMO examples, how to set one up, and how to train your employees. What Is a PMO? The PMO definition essentially means an internal or external group at a company. The PMO meaning also involves tracking the directions and project status for each group. PMO Examples. What is a PMO?

PMO 40

The 5 Most Important Business Benefits of a Successful PMO

Keyedin

The program management office (PMO) can demystify project management processes and ensure both a strategic and tactical approach that is holistic and gets the most value from your projects. Here are five business benefits your PMO can quickly attain when effectively aligning PPM and PM initiatives with corporate strategy. Once visibility gets everyone aligned behind real-time facts, you’re more likely to be aligned behind overall PMO goals.

PMO 78

Action! Four Ways to Build a Customer-Obsessed PMO

Keyedin

Get rolling on a new maturity plotline for your PMO, with four competencies that script a strategic change. Fall movie season is upon us and like your favorite new flick, your PMO might be undergoing a plot-twist as the year wraps up. As you start your budgeting and plan out goals for the year ahead, you might want to take a step back and look at your trajectory from a 1,000 ft. Process. Governance.

PMO 60

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. What is not negotiable is the budget. The governance considerations for project cost management. Determine Budget.

Become an Adaptive PMO: Advance Agility Across Planning and Delivery

Planview

Success requires becoming a more “Adaptive PMO,” evolving how you plan, govern, and empower delivery teams to do their best work. Since every organization is different, you need to find your PMO’s optimal path to facilitate agility and deliver strategic outcomes faster. With this in mind, here’s your roadmap to becoming an Adaptive PMO: One that is more flexible and resilient as business requirements, goals, and strategies rapidly shift.

2020 60

Scheduling and Cost Control in a Complex Environment

Strategy Execution | PMO Perspectives

The recent UK Government’s enquiry into the management of major projects was cut short by world events, but the interim report and oral evidence make for interesting reading. [1] And of course, for our projects and our organisations, we don’t have Governments to bail us out.

The Importance of Project Management: Q&A with PMO Leader Robert Kelly

Wrike

M ost people are unaware that not having a proper work management process in place is actually costing them money. . We spoke with Robert Kelly, PMO leader and Managing Partner of Kelly Project Solutions, LLC , about the value of project management and the impact it has on business. What are the top issues you face as a PMO leader? I believe there are several challenges facing the PMO leader, which are shared across the organization : 1. PMO as a Service.

Lean Portfolio Management Operations: An Agile Approach

Planview

Part 2: Lean Portfolio Management: Lean Budgets and Investment Funding. Traditionally, in an effort to maintain alignment and consistency across the portfolio, organizations have dedicated a centralized Program Management Office (PMO) to planning, program management, and solution definition. A project-based funding structure creates a slower, more complicated budgeting process that requires estimates, plans, and details far before they are able to be accurate.

Lean 67

Success in Disruptive Times: PMI’s 2018 Pulse of the Profession

Online PM Courses

Organizations that completed 80% or more of their projects on time, on budget, and to meet business intent, and that have high benefits realization maturity. Government regulation and reform. The PMI has titled its 2018 Pulse of the Profession report: Success in Disruptive Times.

2018 107

The Commercial Project Manager

Strategy Execution | PMO Perspectives

With only a 8% margin in the original budget, this soon became a loss-making project. Contractor working within UK Government IT support: ‘one of the first things we are taught is to get a signed Variation Order if the client asks us for any work outside of our standard instructions, however small.’. The original supplier made a successful claim against us because we had not followed the required process or notice periods for contract termination.

The World of Work is Changing—Here’s How You Can Embrace It

Planview

PMOs are quickly realizing that in today’s changing world of work, it’s not really about what methodologies are used to get work done that impacts results, but it’s about taking a hybrid approach to portfolios—empowering teams to use the methods and processes that will help accelerate strategic delivery. The measure of success is typically based on completing projects on-time and within budget. Has your organization evolved in terms of how work gets done?

Lean 60

The Death of Project Management

Girl's Guide to PM

Project management is that branch of management devoted to the process of change ; the orchestration of people and resources through a series of activities, tasks and processes to bring about a transformation from a state to another, different state. Bryan Barrow.

2020 228

How To Take Over An Existing Project [Free Checklist]

Girl's Guide to PM

5: Review the governance structure. Is there a governance structure ? Action if there is no formal governance: My first point of call would be your project sponsor. For other areas of governance such as reporting and approval levels, talk to your PMO and get these in place. 6: Review the budget. Is the budget approved? Action if there is no budget plan or information: Back to the PMO or your Finance team. Consider this.

2020 267

Why You Should Align Strategy, Financials, and Execution

Planview

The following content is taken from the whitepaper, “Portfolio-Driven Performance: The 7 Process Areas That Drive IT and Business Results,” written by Jerry Manas. Now, let’s get into the first two process areas by examining why it is crucial for your organization to align strategy, financials, and execution. Process Area 1: Strategic Planning and Funding. Funding and Budgeting. Process Area 2: Aligning Strategy and Operations. Business processes.

How Savvy PMOs Drive Actionable Insights with Portfolio Dashboards

Planview

Does your PMO generate portfolio dashboards for stakeholders and executives? Does it help your PMO be seen as a value driver? The Savvy PMO recognizes this and makes access to highly visual, useful data an imperative by providing comprehensive portfolio dashboards.

2020 102

Project Roles & Their Responsibilities

ProjectManager.com

They tend to monitor the budget and hold the purse strings of the project. Project managers are also responsible for managing risk and the budget. Project Management Office (PMO). Sometimes an organization will have a segment devoted to developing a set of standards and policies to govern their project management and to make sure those standards and policies are being followed. Project managers are supported by the PMO. You’ve got a project to do.

2020 193

Zombie Projects and How to Kill Them

Girl's Guide to PM

lack of governance. Government PMO,” says Derek Huether, an enterprise Agile coach and trainer. “It was a traditional PMO, filled with certified professionals doing very good work in very specific areas of expertise. We had budget specialists, schedule specialists, earned value specialists, and even contract specialists. “But this PMO was managing software applications, both in development and in operation.

2019 181

10 Places to Get Free Project Management Templates

Girl's Guide to PM

We'll process your data in accordance with our privacy policy. If you are looking for information on project budgeting, check out my blog over at ProjectManagement.com, The Money Files. The Infrastructure & Projects Authority (IPA) arranges and manages project assurance reviews for the UK governments’ complex and high risk projects. edu project management template” and you’ll find quite a lot of universities have a PMO that makes templates available for general use.

2019 313

What Can a Project Manager Do Next? The Project Manager Career Ladder

Project Bliss

The Portfolio Manager may also establish portfolio governance standards and procedures for approvals, reporting and other needs. PMO (Project Management Office) Manager / Director. You’d establish processes and procedures that your team would follow. You’d also oversee budgeting and work with Finance and stakeholders to determine budget forecasts and projections for the year.

2017 198

What Makes Organisations Fail to Execute Their Strategy?

Strategy Execution | PMO Perspectives

Maybe by some magical process of osmosis? How do they respond when budgets are changed? Is it all part of a global, coherent aligned process, all pulling together, or is it a mish-mash result of perceived priorities, local constraints, cultures, and ways of doing things?

Customer Q&A - Office Depot

Keyedin

In a recent virtual event, Ruth Bedingfield, PMO Manager at Office Depot was asked questions from attendees about her experience using KeyedIn and specifically in their ability to apply agile principles at the portfolio level. Ruth – The key for us was to use a core governance framework, built collaboratively, to ensure adoption and drive success. We were looking to enhance this process even further by utilizing our opportunity to integrate JIRA into KeyedIn.

2020 60

The Risk Management Plan

Project Risk Coach

Let’s look at how to start the risk management process. If you have a PMO, see if they have a risk management template. Standard categories include schedule, scope, quality, and budget. You may find a risk breakdown structure (RBS) in the organizational process assets that provide a longer list of categories and sub-categories. Companies with strong risk governance may require that you use a standard set of risk categories.).

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Agile Portfolio Management

Arras People

Kicking off its good to have a reminder about what organisations are struggling with when it comes to portfolio management, the pocketbook pulls these out: Difficulty incorporating change and ensuring the right things are done at the right time due to fixed long-term plans and budgets. When I first heard about the Agile Business Consortium working on a new pocketbook about Agile Portfolio Management early in 2017 I was intrigued. Is there a place for Agile at portfolio level?

Agile 154

Factors Driving Project Management Within An Enterprise Environment

Keyedin

Businesses are continually confronted with the challenge of tying together disparate processes and locations, multiple disciplines, technologies and departments as well as managing non-finite resources and budgets. Communicating project information such as budgets, milestones and resource capability through layers of management and across multiple physical locations. Agreeing specifications, milestones and governance criteria for project deliverables.

Factors Driving Project Management Within An Enterprise Environment

Keyedin

Businesses are continually confronted with the challenge of tying together disparate processes and locations, multiple disciplines, technologies and departments as well as managing non-finite resources and budgets. Communicating project information such as budgets, milestones and resource capability through layers of management and across multiple physical locations. Agreeing specifications, milestones and governance criteria for project deliverables.