Running a programme for the good of your business is a testing task. It’s not something that can be done properly without the right work being put into it first. One of the key things that you need to use is a PMO or programme (or project) management office. It’s a group within your business that will be in charge of managing the programmes and projects that you undertake. They can be used to solve all kinds of specific problems. But what do they really offer that can make your programme a success? Read on to find out.
1. Costs and Risks
When your business is carrying out case reviews that relate to your programme or project, PMOs can help. This will be the department of the business that focuses on these things and carries them out. This means that they will be responsible for seeing what the future implications for the business will be. These case reviews are carried out before a programme is up and running. And they’re very important because they can change the choices that the business goes onto make. In some cases, it can be the difference between the business succeeding and failing, so it’s very important.
The costs and risks of taking on a particular programme are what they will focus on. There are many costs that have to be considered. The financial implications of taking on a large project or programme can be huge. Of course, this varies depending on the business and the programme. But it is essential for the business to understand these things before going ahead. Going in without the right kind of information can only spell disaster for the business in the long-term, so don’t forget this. Having a good PMO doing the work for your business will help a lot.
Identifying the key risks that the business will have to make to go forward is important too. When the risks are so large, they can put the entire existence of the business under threat. Large mistakes can lead businesses to run if they are not properly thought through. When the risks are outlined by the PMO, they can then be considered and mitigated in applicable ways by the business. It’s all part of the proper preparation process, and it can build the basis for real success. Therefore, a PMO can be very useful in this regard.
2. Monitoring Project Performance
The assessments and monitoring of the business don’t simply end once the programme is underway though. There should be a process of monitoring as the programme proceeds and advances. These regular health checks will help the business to see what’s going well and what should really be changed. The execution of the programme is very important. Even if the idea and the original plan was correct, there is still a chance that it can be executed poorly. This is something that the PMO in your business would be checking for as they carried out checks. Even if things are going well, it’s important to look at the metrics.
Looking at the metrics, facts and figures is what the PMO does. They can see exactly where the good things and the poor things lie by monitoring performances. They can also focus on the return on investment. This is something that every business cares about. They don’t want to be left with a programme that is offering them the profits that they seek. Without tracking the performance and the metrics thrown out by the project, there will be no way of calculating things like this. It’s not something that can be ignored by any business that really cares about the results.
Reporting on the progress of a programme is made much more difficult if there is no consistent methodology being used. This won’t be a problem if you have a single PMO team on the case though. By using a single, coherent methodology, a lot of the problems they’ll face can be eradicated. Inconsistencies in the results and the measuring of the progress won’t become a result this way because one team will be focused on the task. And they can find a method for reporting on the progress that is consistent.
3. More Efficient Use of Resources
Another task that is delegated to the PMO is the management of resources. Many companies don’t have money and other resources to throw around. And that means that they have to be used in a correct a sensible way. It shouldn’t be too difficult to do this, but it can be harder than you imagine. Spending can get out of hand if it’s not controlled and monitored centrally. There needs to be some level of control on the allocation of resources if you want the programme to be cost-effective. There are so many business programmes and projects that go over budget, so don’t let it happen to you.
By selecting the right processes and making sure plans are within financial restraints, the PMO can keep things on track. It makes sense for them to be in charge of the efficient allocation of resources. And then any department that needs resources can go directly to them. It acts as an independent body within the company that can act in line with its interests. They can also react quickly to any pressing financial issues that arise during the implementation period. This is something that only a PMO can do properly.
The allocation of resources is not even something that starts when the business implements the programme. Instead, it starts much sooner than that. Because the PMO assesses potential programmes, they can compare this to the available resources. If they think that a project is unrealistic because the because the business doesn’t have enough money, it can be rejected. So, the process begins early and can then be seen all the way through to the end. All in all, it’s a great idea to have a PMO overseeing these things from the start of the entire process.
Source: Vine 2