07 Nov 5 Benefits of PMO Organizations
Project Management Offices, or PMO’s, typically offer a high success and organizational standard. PMO’s are often a department or smaller group of people that will establish project management standards. Here are five benefits of working with a PMO.
- Accuracy: One of the benefits of working with a PMO is the increase in accuracy when it comes to estimating the length of time to complete a project, what is needed, and how much it will cost. They are adept at managing projects and specialize in this so they can be consistent and ensure your project is going to succeed.
- Cost: Thanks to the PMO being accurate in reference to the above point, you will rest easy knowing they will be efficient and accurate when it comes to determining the budget from the beginning of the project. They will be better able to update the budget accordingly as the project continues, reducing the number of changes that will need to be made. If a lot of changes are being made to a project, it can cost you significantly more than you had intended to spend. Accuracy is big here.
- Control: PMO’s excel in having processes, procedures, and communication well established and in place when you bring them on. This will help ensure a project is on track and all the needs are being met to have it be successful.
- Support: PMO’s come with the capability to offer support to high-level management by providing them with all the necessary information for control and planning needs. The PMO will bring unity to the organization and project by building teams and providing consistency across accuracy, budget, standards, and assurance.
- Standards: PMO’s will help enforce standards across all aspects of project management. This will help a project’s chance at leading a high success rate due to all parts of the team adhering to standards of data collection, reports, analysis, communication, budget, expectations, timelines and more.
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