For example, having unrealistic schedules and budgets, inefficient time management, or inconsistent resource allocations. The biggest challenge that Project Management Offices have to face on a daily basis, and also the main reason why many of them fail, is to efficiently manage resources across their project portfolio.Īt this point, PMOs may face several problems as a result of poor resource planning. Resource management, a real challenge for PMOs This should be reflected in product and project portfolios that are more in line with the medium- and long-term vision of the business, and teams and work areas focused on achieving common objectives. To this purpose, the PMO must play a crucial role in the strategy execution, maintaining regular communication channels with Senior Management to ensure that the portfolio is aligned with the organization’s objectives. ![]() PMOs must be conscious of the importance to the business of executing programs and projects that are aligned with the organization’s mission and vision. Many companies fail to achieve their strategic objectives precisely because the execution of their project portfolio was not aligned with the organization’s strategy. Align the project portfolio with the organization’s strategy Next, we go on to detail each of these challenges and how the PMO must face them. Renewal of project portfolio management tools.Standardization of processes and workflows.Fluent communication with the organization’s senior management.Responsiveness to changes in the project portfolio.Resource management, a real challenge for PMOs.Align the project portfolio with the organization’s strategy.Specifically, there are seven challenges that the PMO will have to deal with in order for its role to be perceived as key to the organization’s value streams: It won´t be easy, and along the way, the Project Management Office will have to face several challenges to cope with this transformation to the new reality. If PMOs do not set these three objectives mentioned above, will be at risk of disappearing because senior management will no longer perceive the value they bring to the organization. The challenges that the PMO must face in order to be successful This is where PMOs have to adapt to this new environment and manage in an agile manner key project management issues such as prioritization, resource management, budgets or delivery dates, and learn to react to changes that may arise in their project portfolios in an agile and efficient manner without losing sight of the organization’s objectives. Company objectives can change in very short periods of time, which makes it necessary to redesign the prioritization of the project portfolio. In this new competitive environment, with highly volatile markets that require companies to bring products and services to market as quickly as possible, change is the norm. ![]() Towards Agile Project Portfolio Management And, on the other hand, to serve as a reference point both for stakeholders and for the work teams involved in the projects, offering them both real-time information on the status of projects and support at all levels for their correct implementation.ģ. PMOs must, on the one hand, seek continuous communication flows with the company’s Senior Management in order to align the Project Portfolio with the organization’s objectives. PMOs must evolve and stop being just the office where Project Managers have the necessary tools to carry out the organization’s projects. ![]() Collaboration and agility at the service of all business levelsĪgile and collaborative environments are gaining ground over silo-based organizational models. If PMOs remain stuck in their command and control model to ensure that projects are delivered on time and on budget, their contribution to the value streams of the organization will be marginal and, therefore, will be considered by senior management as an unnecessary expense for the company.Ģ. Organizations are now focused on the value they deliver to their customers, and how the different areas and departments participate in the creation of that value. Empowering PMOs in the organization’s value streams
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