The PMO is highly valuable in any organization—or should be. Yet, many PMOs are unable to reach full potential due to challenges such as being placed too low in an organization or lacking mature tools and practices. Further, PMOs are often led by directors who focus on project pushing, yet fail to learn from past mistakes. In fact, Forrester reports only 34% of PMO leaders reflect on lessons learned when formulating strategy, and only 26% of PMOs are at an “institutionalized” level. Download the Forrester report, Increase Your Value: Become The Modern, Agile PMO to learn how portfolio management can help.
Despite the challenges a PMO must overcome, there is hope when it comes to demonstrating their value. Not only does the PMO have the power to spark insightful conversations within the business, but can drive better planned and prioritized business initiatives.
So how can you become the PMO that brings about this change? Planview product manager, Carina Hatfield, offers some key tips:
- Link execution strategy
- Provide real-time meaningful information
- Create an adaptable culture and engage with the business
- Move away from a pure governance model to a planning and prioritization model
The right portfolio management tools and processes can help your PMO accomplish these goals. For more information, I invite you to check out the video series featuring Carina on how to “Be That PMO.” The first video in the series has received over 8000 views, and people in organizations everywhere are benefiting from her recommendations. Let us know what you are doing to become the modern, agile PMO in the comments.