PMO 101: Project Management
Project Management is a complex discipline with plentiful key phrases, knowledge areas and terms. This article is part of a series of short articles, called PMO 101. It is aimed at educating (new) business leaders on the basics of Project Management, and to simplify the key components of successful project management.
This series of articles gives a breakdown of what project management is and how to execute it effectively in service of strategic goals.
Definition of Project Management
Project Management is a business discipline that involves applying specific processes, knowledge, skills, techniques, and tools to meet project goals and deliverables successfully. (Moira Alexander, contributing writer to cio.com)
Importantly, Project Management professionals play an important role. They help drive, guide, and execute company-identified, value-added goals by applying processes and methodologies to plan, initiate, execute, monitor, and close all activities related to a given business project in alignment with the organization’s overall strategic objectives.
PMO vs EPMO
Successful organizations categorize project management efforts under either a Project Management Office (PMO) or an enterprise project management office (EPMO).
A PMO is an internal or external group that sets direction and maintains and ensures standards, best practices, and the status of project management across an organization. PMOs traditionally do not assume a lead role in strategic goal alignment.
However, an EPMO has the same characteristics and qualities as a traditional PMO. However, it has an additional key high-level goal, namely, to align all project, programme, and portfolio activities with the strategic objectives of the organisation.
Undoubtedly, organizations are increasingly adopting the EPMO structure. Therefore, project, program, and portfolio managers are actively involved in strategic planning sessions right from the start to increase project success rates.
Importantly, PMOs and EPMOs both help organizations apply a standard approach to project management. In addition, setting standard approaches, PMOs and EPMOs have the following benefits, says Moira Alexander:
- ground rules and expectations for the project teams
- a common language for project managers, functional leaders, and other stakeholders that smooths communication and ensures expectations are fully understood
- higher levels of visibility and increased accountability across an entire organization
- increased agility when adapting to other initiatives or changes within an organization
- the ready ability to identify the status of tasks, milestones, and deliverables
- relevant key performance indicators for measuring project performance
Look out for more short, easy-to-digest articles on Project Management basics, including methodologies, tools, etc.
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