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Every organization is faced with the challenge of allocating and managing valuable, and typically, constrained resources across an increasing set of projects. Industry surveys have shown that the majority of companies employing a program management office improve project success rates, as measured by completion of projects on-time, completion within budget, and customer expectations met.
The W Group believes effective program management is a cornerstone for effectively managing resources, implementing strategies of the organization and deriving the greatest value from investments. The Program Management Office (PMO) should be chartered by an Executive Sponsor and Steering Committee with responsibility for prioritization, oversight, central reporting, and resource balancing across a portfolio of projects that compete for similar resources and funding. The W Group has found the higher up in the organization the PMO is chartered, the greater the success rate and impact on the overall enterprise. The PMO can also serve as a competency center, which establishes standard project methodology and trains the organization on methods that increase project success rates.
The W Group works with a client to establish a new Program Management Office or enhance an existing PMO to ensure:
- Project approval is based on “big picture” objectives and priorities
- Projects have clear accountability and visibility so expectations are properly set
- Planning and execution are coordinated across all business functions
- A portfolio plan, containing milestones, resources, and financial performance, is tracked
- Risk profiles are reviewed and issues resolved to minimize exposures
- Resources are balanced to increase overall project success rates
- Adherence to methodologies and best practices to improve skills and results
- Non-performing projects are terminated and resources reallocated
- Project results are measured against the initial business case
- The enterprise realizes value and not only central tracking and reporting
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