In my last two posts, I talked about the evolving role of the EPMO and effective PMO communication, two of the four key takeaways from Gartner’s PPM and IT Governance Summit. This post will cover the third point, driving competitive advantage and PMO innovation.
Gartner states that traditional governance processes and project management systems crush innovation in organizations — which is the opposite of what a PMO needs to do if it is to be perceived as valuable to the organization.
I think this is an important point — that executives want, more than anything, competitive advantage, and that this requires taking more risks, not fewer. With this in mind, effective governance needs to enable an organization to optimize investments that balance out the portfolio within the risk tolerances of the organization.
This means, just like a personal stock portfolio, allowing room for riskier and more innovative projects, where there’s more uncertainty and planning is incremental but the potential upside is huge.
It also means that processes must be adaptive and move quickly, unburdened by a one-size-fits-all methodology and an overly cautious attitude. If governance processes are bureaucratic and laborious, and if project management methodologies fare no better, then the organization’s growth will be stymied as more adaptive and daring competitors pass them by.
PMOs and their associated processes must be enablers, not disablers. And that, I think, is Gartner’s key point here.
In the next post, I’ll talk about the last key point from Gartner’s summit, Driving PMO Maturity.
Related post: Highlights from Gartner’s PPM and IT Governance Summit — Part 2: Effective Communication