If you have multiple projects requiring different people and processes, then having a PMO should be on your priority list. A PMO (Project Management Office) is a division of an organization that helps standardize the various processes related to a project or a program. PMOs help reduce the complexity of a project and increase the efficiency of your organization.
PMOs are responsible for managing resources based on budgets and timelines, in addition to overseeing the day-to-day activities of a project team, ensuring that employees receive regular training and are kept up with the latest project developments.
A PMO selects suitable projects that align with the organization’s goals and objectives. This process involves creating policies and procedures to manage all projects.
What is the difference between a PMO and a project manager?
Even though they’re technically related, project managers and PMOs are very different. A project manager is an individual who takes on a particular project, while a PMO is a team composed of specialists who work in an organization. The PMO is a multi-disciplinary team that works together to deliver high-quality projects. It is responsible for ensuring that all projects are managed and delivered according to the defined objectives and goals.
Not every company has a PMO, and not every company needs one. However, a PMO can be beneficial when the number of projects increases due to the complexity. It helps identify the right resources and time to minimize risk.
The rise of the PMO is increasing, and they are becoming more prevalent across all sizes. In 2020, almost all firms with revenue over $1B had a PMO. Typically, PMOs are highly experienced and skilled professionals with several years of experience in the industry, and many of them have a Project Management Professional certification. They are created according to the organization’s goals and needs, and they report to C-level executives.
Project Management Challenges
The complexity of managing projects and the lack of confidence in staff to execute them can prevent the projects from getting started.
Instead of following established procedures and standards, many initiatives are developed without following any guidelines or policies.
The deliverables typically require multiple iterations and are often time-consuming to produce. One-size-fits-all solutions usually do not work well for handling projects of varying sizes and complexities.
Project management platforms like monday.com, as well as applications like HubSpot and Salesforce, have customized automations that help start any project with minimal effort and allow your teams to collaborate and develop incrementally. They’re also capable of managing tasks and notifications in both desktop and cloud environments.
Project Management Tools and Solutions
In today’s market, many products promise to provide us with the right solution based on the needs of your organization. However, many of these products fail to deliver on their promise. Companies tend to procure popular software in the marketplace and ignore if the software can support their business goals.
Leaders of PMOs must re-evaluate their employees’ competencies and tools to enable digital transformation in this modern era. Streamlining employees with their organizations’ values is key to ensuring that they align with their goals and strategies.
Teams that have multiple projects can’t rely solely on their memories to keep them organized. They also can’t rely on email to keep everything organized, so project management tools exist to help people collaborate and communicate in real-time. These PMO tools also serve as a repository for forms and documents, so your teams don’t have to worry about overlooking documentation.
What do PMOs need from a Project Management Tool?
A primary requirement of a PMO is to have a platform that provides a comprehensive view of the organization’s resources, and they need it to be simple to use for different levels of stakeholders. According to the latest PMI Pulse of Profession, the communication gaps between different levels of employees cost businesses millions of dollars each year. Therefore, a primary source of truth is essential to a business’s financial success. A great feature of a PMO tool is a central repository of information where data is organized and maintained.
Virtual teams are becoming more prevalent, especially in the COVID-era. Remote work can add complexity and increase the number of groups added on to manage projects. As a result, processes must be mapped in detail and supported to get the most out of your investment.
The tool should aim to reduce the administrative burden during the reporting process. This can help your project managers and employees focus on their core tasks. A PMO platform provides a centralized view that can allow senior management to manage all the projects and their activities through a single, high-level dashboard.
Project management solutions and tools like monday.com, Salesforce, and HubSpot help set up projects and manage costs with minimal effort. They enable teams to collaborate seamlessly across departments and drive digital transformation. These tools help organizations accelerate value and minimize risk by delivering a portfolio that’s optimized in real-time.
A detailed implementation plan is often necessary to ensure running a smooth project management system. Without a plan, all processes and teams will get bogged down by technology and data, ultimately creating a costly mess. So, if you need help implementing a project management tool, let us know! We can help you carry out PM solutions that will get your business running efficiently and effectively. Contact us today.