Program management has become one of the most important competencies within business organizations over the past decade. According to a survey conducted by PM Solutions, Inc., the number of companies reporting having a Program Management Organization (PMO) grew from 48% in 2000 to 84% in 2010. A substantial increase in adoption (36%), this is a testament to the value of efficient project execution within organizations and the inclusion of PMOs as strategic entities within corporations of all sizes.
Organizations need a clear informationalization strategy and visibility into all aspects of the implementation of that strategy – scope of investment, direct and indirect impacts, stakeholder interests, resource constraints, project and organizational inter-dependencies, operational readiness. Once this is in place, there is greater understanding of the full array of options for balancing tactical and strategic demands for the same set of limited resources. In short, organizations need a comprehensive, Information-Centric Program Management approach.
In our view, program management is essential for bridging the gap between business strategy and project execution, a balance achieved by optimizing long-term business goals with the need to ensure timely and on-budget completion of the initiative. As the juncture between business and technology, the PMO also acts as a sounding board and source of resolution for issues emanating from both sides. Portfolio management – or value management – is often another function of the PMO, prioritizing investments against the relative business value of each project in the portfolio.
Taking on many forms, Knowledgent has experience setting up other types of PMOs, including an Integration Management Office (IMO) on very large initiatives where there is more than one PMO. There are many other versions of PMOs, such as a Data Management Office (for a large information-centric program) and a Test Management Office (for a large testing effort).
A skilled program management team understands the need for superior project execution as well as the business drivers behind the initiative, while providing a corporation’s executives with the transparency that enables greater control of their project portfolios and visibility into their progress.
Knowledgent Program Managers bring deep industry-specific domain knowledge and superior program management experience and expertise to address common and uncommon challenges alike. We believe that a key success factor in program management is anticipating and mitigating risk through a carefully planned adoption management plan. Our program management methodology is centered on metrics-based approach aided by tools to manage communications, interdependency and issue resolution.
We know that applying cookie cutter approaches for one type of PMO may not deliver benefit for another and that success criteria are best served by a change management methodology matched to an organization’s capabilities. Our track record demonstrates measurable increases in program success, with a focus on meeting budgetary requirements and addressing program risks. We firmly believe our relevance to you is not just in performing administrative PMO tasks, but rather in our precise focus on your business value attainment.
- Growing strategic value of the PMO
- Prominent role of the PMO in training
- Challenges pertaining to resource management