An exploration of Project Management office and relationship to project performance

The Project Management Office is a group within a business. It can be a separate department in a time of needs. It helps to maintain the standards of project management within the business or organization. The project management office (PMO) is becoming the central hub of the enterprise. Apart from other tasks, its main task is to directly support the project managers. It is now predicted that in future its focus could also lie on strategic project management. Its vital task is to provide a tool for project portfolio management and resource management. The first and foremost goal of project management is to achieve the benefits through standardizing and by following the project management methods, strategies and also policies. It is now becoming popular as the companies that are connected with PMO are earning a return on investment. Nearly seven out of ten companies now have a PMO. It is responsible for the guidance, documentation, and metrics that are connected practices surrounding the project management and implement the projects within the business organization. This office is responsible to provide accurate reports on the project, project activities, and requirement to executive management as a strategic tool in keeping the implementers and decision makers moving toward consistent business-focused goals and objectives. The enterprise and companies need PMOs when there are many projects that need to be controlled. It helps in the coordination of resources with the different departments, it also help to obtain the current and well founded on which the decision can be made. When the environment is dynamic PMO help to take fast decisions. PMO is responsible to collect and provide precise data as sometimes the requirement might increase as people demand such clear data. It is responsible for controlling the classical project portfolio, it is responsible for training and coaching of project managers as well. PMO maintains the overview of the company projects and know the strategies of the organization and make sure that both go hands in hands. But the specific area of the application may vary from company to company. It is helpful for the company not only to look for the project management but also do side task. It maintains the current employee data especially in term of skills, and allocations. It is helpful in the promotion of information and communication. PMO helps to create a knowledge base with the lesson that needs to be learnt and best practices of past projects so it is ensured that there is no repetition of past errors. PMO is beneficial as it includes a successful project portfolio that is concerned with the available resources and corporate strategy. It is helpful in freeing up the time and energy of the managers and team of the project so that they can focus on the important operational tasks. It optimizes the project efficiency and increases the quality of the project and also minimizes the risk present in the project. The success of PMO is not immediately visible or even measurable but high-functioning PMOs has been confirmed by studies.

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