Why PMOs are more Popular than Ever

Why PMOs are more Popular than Ever
Why PMOs are more Popular than Ever

In the face of extreme competition and complex business demands, organizations are finding it difficult to deliver projects on time and within the budget. With emphasis on getting better return on investment, organizations are setting up PMOs to cut cost, boost efficiency, improve project delivery in terms of time and budget.

In a layman term, PMO (project management office) is a group within the organization that defines standard Project management practices and as well as determine methodologies for repeatable processes. In fact, a PMO acts as a foundation for eventual portfolio management in an organization.

  • Trends of PMO training taking place in organizations:

    Enterprises are implementing project management training to add value and increase effectiveness of the projects. To stay on course in this highly competitive market, PMOs are offering training for key personnel within the group and others in the organization.

    Today, close to 49% of PMO groups in the organizations across the globe offer some form of training. Some of the most popular trainings from PMOs are happening in:

      • Finance 93%
      • Healthcare 93%
      • Information Technology 85%
      • Manufacturing 78%
      • Professional Services 60%
  • Popularity of PMOs in various industries:

    As there is a great demand for project management office depending upon the size of the organization, the PMO group’s role is popular  in various industries. Be it healthcare, IT, finance, manufacturing, or professional services, the popularity differs a lot based on that particular industry’s demand.

    Below mentioned is a breakdown of industries that are adopting PMO in a big way:

      • 85% in Project Management Basics
      • 67% in PM Software Tools Training
      • 55% in Leadership Training
      • 51% in Advanced PM Skills Development
      • 42% in PMP Preparation
      • 34% in Business Alignment Training
      • 22% in Project Management Certifications
  • Top  challenges faced by PMO in Organizations:

    Running a PMO in an organization is not an easy task. You have prepared a robust plan with contingencies but still you will find barriers to succeed. Even in the case of a successful PMO, you may find difficulties and challenges in the form of resistance, resource constraints, unnecessary overhead, and more.

Some of the barriers for PMO success:

      • 51% resist to change within the organization
      • 47% see PMO processes as an overhead
      • 45% say there is no provision for time/resources for strategic activities
      • 43% feel they are unable to demonstrate the value derived
      • 43% due to inadequate resource management capability
  • Ways PMOs are deriving value:

    Providing better value and improving bottom line is what business is all about. Businesses do this by breaking things down to various revenue drivers in the form of operations, IT, marketing, sales, and more. When implemented properly there is a likelihood of achieving long-term success.

    With PMOs finding widespread acceptance in organizations across the globe and they add value across  many disciplines.

      • 31% improvement in customer satisfaction
      • 28% improvement in projects that were delivered within budget
      • 18% improvement in productivity
      • 27% decrease in failure of projects
      • USD 101,000 cost savings per project

The number of PMOs are increasing day-by-day for obvious reasons. Whether you are a project manager or a  marketing manager, it does not matter. PMOs are creating value wherever you need them. Across industry verticals PMOs are helping enterprises to execute projects, increase productivity, reduce cost, and improve customer satisfaction.

Source: PM Solutions’ The State of the Project Management Office (PMO) in 2014

Invensis Learning specializes in providing globally-recognized project management certification training courses such as PMP, CAPM and PRINCE2. We also offer other certification courses related to ITSM, Quality Management, Program Management and Technology Training. If you would like to know more about the benefits of project management certifications for your career, call our training consultant now on: USA +1-910-726-3695; UK +44-207-193-4519;  AUS +61-280-113-469: IND +91-80-6500-0255, +91-96202-00784. Or email support {at} invensislearning {dot} com today.

Previous article5 Ways to Elevate Project Management Status in your Enterprise
Next articleDMAIC: The 5 Phases of Lean Six Sigma Process
Arvind Rongala, an engineer by education, has deep experience of serving the IT-BPO industry for more than 8 years. With his keen interest in the learning and development sector, Arvind spearheaded the launch of Invensis Learning as the training and certification arm of Invensis Technologies. As the Director of Invensis Learning, and with offices in the US, India, and Australia, he ensured the company became a trusted training partner for many Fortune 1000 clients and gain global recognition in a short span of time. { YourStory.com has featured a story about Arvind about his achievements over the years. } With his expertise in Project Management, IT Service Management, Quality Management, and IT Security Governance, he has been a guest author for various popular digital publications such as Business Insider, Business today, Project Times, Customer Think, Tech Sling, and Businessworld.